Arizona Gold finds high-grade zones at main project

AI desk brief

Arizona Gold reported higher-grade gold-silver intervals beneath the Red Hills target at its Philadelphia project in Arizona, including 7m at 4.24 g/t gold and 15.2 g/t silver from 456m within a broader 44m zone grading 1.48 g/t gold and 7.2 g/t silver. A second hole cut 70m at 1.16 g/t gold and 5.6 g/t silver, extending mineralization down-dip and supporting the company’s view of both a higher-grade underground scenario and a possible bulk-tonnage open-pit case.

The company is still early in the program and says further drilling will refine the geometry and continuity of the higher-grade zones, with assays pending on a follow-up hole directly below PC26-173. Arizona Gold shares fell 13% in Toronto to 58c, valuing the company at about C$88m (US$62m).