Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) CEO Mike Stark talked with Proactive about new drill results from the company’s Philadelphia Project, including additional findings from the Perry claim and the growing understanding of the mineralized system at depth and along strike.
Proactive: All right welcome back inside our Proactive newsroom. And joining me now is Mike Stark. He is the CEO of Arizona Gold & Silver. And Mike it’s great to see you again. How are you?
Mike Stark: I’m doing just fine. Doing well, thank you.
Good. Well good to have you along. Excited because you’ve got some news out of more results coming from the Philadelphia Project that we’ve talked about many times in the past, and specifically the Perry claim, which we’ve talked about as well. But getting more results here, you’ve got four holes to report to us. The fourth one, for instance, is really interesting because it’s a lot deeper than you’ve gone before. So obviously you’re seeing a lot of things and learning a lot of information from this.
Yeah, we shared that with the investor audience the last interview. Lex wants a better understanding of what took place on the outskirts of our zone that we were in previously. That’s a 165 meter wide zone of a vein. That’s an incredibly large upwelling area. So because we reached the outer limits now, he’s gone up a little bit to get some better understanding.
And the grades are good. What I’m excited about is the knowledge that he gained from that. On the upcoming holes 166 and 167, maybe even as much as 165 will be even better. We’ve loaded them to the website. We’re really pleased with what we see. This is all about understanding what was going on 19 million years ago. The only way you’re going to find out is by drilling it.
And I can say with confidence, we were very, very pleased with what is in the lab now and what hopefully will still come in the future.
Now, you and I are not geologists, so we’re going to play this in layman’s terms because the news release specifically describes the Perry zone upwelling, which is a key feature when you’re looking for high-grade gold and silver. This kind of information is really what Lex is looking at, correct?
Correct. We just finished a week of presentations to investors, fund managers and newsletter writers. What we wanted to show was a sizable, large opportunity. It wasn’t until people got on the property that they saw the magnitude of how big three kilometers is.
We have upwelling zones yet to be proven, but the vein is expressing along these three kilometers and we have four to five more targets. With the Bayonet surface work being done, we believe these are another form of upwelling zone, much like the Vera Nancy model, which we’ve shared before.
This is really starting to come together. Of course we’re going down dip as well, and as we go down dip, the system is getting not only wider but higher grade, following that Oatman discovery 14 miles away.
And you’re also, according to the news release, doing some work outside of the drilling as well, looking at the eastern northeastern anomalies. So you’re obviously trying to work this project systematically.
We are. The money that we have now, which is a very healthy bank account by the way, and the upcoming Sorbie 18 million as well, is going into the ground, but it’s being very carefully spent.
One of the best things that I can share is this is not a lifestyle company. We’re simply stepping out, getting the results that we want, making informed decisions, then stepping out again.
This eastern anomaly is three and a half miles from where we’re currently drilling. It’s 15 times larger than what we’re drilling right now. I want nothing but success for the company, so we’re going about it methodically. Soil sampling, gravel samples and channel samples have been taken.
More work is being done out there to define exactly where we put our first drill hole. The permit that we’re looking at right now, which is imminent, will allow us to drill for at least two years on multiple drill pads along strike and behind the Red Hill, which is what everybody’s waiting for, myself included.
All right, we’ll leave it there. Mike, thanks so much. Really good update as always, and we’ll talk soon.
Look forward to a lot more news, guys. We’ve got about five more in the treasury right now coming forward.
All right. Look forward to lots of chances to talk to you. That’s Mike Stark. He’s the CEO of Arizona Gold & Silver.
Quotes have been lightly edited for clarity and style