Arizona Silver Exploration Inc. (AZS:TSX; AZASF:OTC) is out this morning with the kind of drill results news that I would typically dismiss, if not outright ignore, but not in this case.
As you will READ HERE, AZS has finished drilling a dozen mostly shallow R.C. (Reverse Circulation) holes at its Philadelphia epithermal gold-silver project in Arizona's Mohave County.
As opposed to the solid core from diamond drilling, R.C. drilling produces a ground-up "core" for subsequent testing. But the object is the same: assay the material and report on specifics of gold, silver, etc. content.
Normally, I'll largely dismiss news such as this morning's where assays are still pending. Many a time, I read of breathless excitement over companies reporting they intersected the nature of the material they had hoped to find . . . which they further hope will be validated by assay results. Sometimes they are...sometimes not.
But this morning's news is an outlier — and uber-encouraging — to me in two respects.
First, as V.P.-Exploration Greg Hahn describes, the area/size of the mineralization continues to expand substantially. As I hope you'll recall from my initial recommendation, the geological thesis here continues to be ratified bit by bit: and today's news is that there indeed could be hidden under that big rhyolite dome, a gold-silver resource FAR in excess of what anyone ever thought existed.
Secondly, notwithstanding the need for official assay results still to come, when free, visible gold can be panned out of grindings from a few of these holes, that's an attention-getter!
Ahead of this news, AZS shares had already been better-than-average performers among the universe of exploration juniors that haven't been able to get out of their own way for many months, despite the occasional — and current — spike in gold's price especially.
I think, in this case, it owes to AZS shares being in some stronger-than-average hands: people who see progress being made toward a possibly BIG breakout story and don't want to leave.
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1) Chris Temple: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Arizona Silver Exploration Inc. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company currently has a financial relationship with the following companies mentioned in this article: None.
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