Arizona Gold & Silver Inc. announced high-grade antimony samples from the Silverton gold-antimony project located in Nye County, Nevada, immediately north of US Highway 6, between Tonopah and Ely. Silverton hosts two target types: a Carlin-type large tonnage gold system, and an overlying high-grade antimony+gold-silver veins that are well exposed at surface. AZS has initiated exploration to focus on the antimony potential of the project given that antimony is a "critical metal" currently trading at USD 57.50/lb.
Recent Chip Sampling Results. In 2002-2004 the project was controlled by Newcrest Resources who completed a shallow drilling program targeting the bulk tonnage gold potential of the site. As Newcrest did not consider over-limits, the objective of this sampling program was to determine the ultimate antimony content of some of the historic +10,000 ppm Sb outcrop samples.
AZS collected 14 samples across stibnite-quartz veins and adjacent silicified and argillized ash flow tuff where previous sample tags could be found in the field. Sample lengths ranged from 7.5 to 61.0 centimeters across stibnite-bearing veins. The highest grade of 7.95% Sb came from a vein 25.4 centimeters wide.
The average of all fourteen samples was 1.38% Sb, including non-vein material. Historic geologic mapping on the property identified numerous discrete quartz-stibnite veins and stringers but the price of antimony was too low to specifically target these vein swarms with drilling. The Company has re-assessed the quartz-stibnite vein occurrences and has identified a zone roughly +900 metres by 400 metres that shows up on satellite imagery as highly clay-altered.
That zone hosts the preponderance of quartz-stibnite Ve and stockworks. Drilling Program Permitted. The US Bureau of Land Management has accepted the financial guarantee to cover the reclamation attendant to a proposed drilling program of 27 reverse circulation drill holes from 17 drill pads.
Road and drill pad construction and drilling can commence at any time.
