Arizona-based junior miner Arizona Gold & Silver (TSX-V: AZS) (OTC: AZASF) has released an extensive technical report detailing the exploration potential of its 100% owned Philadelphia gold property in Mohave County, Arizona. With over a century of rich mining history yet modern techniques left unapplied, Philadelphia presents an intriguing opportunity.

Strategic Locality & Accessibility

The 2410-acre Philadelphia land package comprises leased and fully-owned claims off Route 66, enjoying excellent infrastructure. Major cities Kingman and Bullhead City provide support services, both within an hour’s drive via paved roads. Its location amid other major discoveries highlights prospectivity.

Compelling Historical Production

As documented within the technical report, small-scale mining between 1896 and 1934 extracted an estimated 40,000 ounces of gold from 80,000 tons of ore – impressive grades averaging .  10-27 grams per ton of gold. (Arizona Gold and Silver has had assays as high as 72 GPT ​​gold.) Output halted due to external factors, not deposit exhaustion.

Favorable Geology

Regional-scale structures, like the Arabian Fault bisecting Philadelphia, often localize gold/silver deposits. Here the fault intersects volcanics and granites of Precambrian age. Younger Tertiary volcanics and granites focused ascending hydrothermal fluids, depositing epithermal low-sulfidation gold/silver veins, with strike lengths exceeding 4 kilometers and attractive widths.

Methodical Modern Exploration 

Since acquisition in 2019, Arizona Gold & Silver has systematically explored Philadelphia utilizing diamond drilling and technical analyses. To date, assay results validate historical production grades and the property’s exploration upside. Ongoing work aims to demonstrate continuity between defined high-grade zones and to identify wider lower-grade mineralized stockwork zones.

Enhancing Project Economics

While high grades could support small-scale mining, bulk-tonnage stockwork mineralization enhances scalability. Metallurgical testing will assess optimal processing method for each zone type. Concurrently, infill and extension drilling will provide data for a maiden resource estimate according to NI 43-101 standards.

Investment Summary

In Arizona Gold & Silver’s experienced hands, Philadelphia presents genuine multimillion-ounce potential, despite limited modern exploration. Upcoming catalysts include further assays, metallurgical test work and an initial resource. Well-financed and tightly-held, Arizona Gold & Silver offers leverage to success.

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This stock was trading at 27.5 cents CAD exactly one year ago today.  It closed on Friday, 11.24.2023 at 47.5 cents CAD, a 72% increase in one of the worst markets junior explorers have ever faced.

The complete technical report can be viewed here:

Philadelphia-Technical-Report-Master-Final-20Nov2023.pdf (secureserver.net)

An interview with Greg Hahn, VP of Exploration can be found here:

https://youtu.be/oUFlKQjXRvo

Courtesy of Catapult Research and Arizona Gold and Silver

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