News Summary
On December 8, 2025, Arizona Gold & Silver announced assay results for core hole PC25-157 at its flagship Philadelphia Project in Arizona. The hole intersected a wide mineralized structure of 76.5 metres grading 2.36 g/t gold and 16.24 g/t silver, starting at a depth of 265.8 metres.
This broad intercept includes several higher-grade intervals, such as 6.28 metres of 7.02 g/t gold and 1.52 metres of 13.8 g/t gold.
Crucially, V.P. Exploration Greg Hahn noted that significant gold and silver mineralization was found in the stockwork quartz-calcite veining in the hanging wall of the main Perry vein. This style of mineralization had not been encountered in previous holes and is responsible for the considerable width of the intercept. He stated this “is changing our interpretation of the nature of mineralization” and “adds a potentially bulk-mineable component to the deposit.” The company has completed the subsequent hole, PC25-158, and assays are pending.
Material Impact
The news is materially positive and represents a significant geological breakthrough for the Philadelphia project. It successfully confirms and expands upon a series of positive results announced over the past few months.
– Progression of Discovery: The story began in earnest on September 17, 2025, with excellent results from hole PC25-156 (20.43 m of 9.04 g/t Au), which established the potential for a high-grade vein system at depth.
– Expectation Setting: On October 15, the company announced it had started drilling PC25-157 as a 60-metre step-out from the high-grade PC25-156 discovery hole, setting clear expectations for a follow-up result.
– Anticipation Building: On November 5, the company reported it had visually intersected 34.45 metres of the Perry Vein in PC25-157, confirming the vein’s continuity but leaving the market waiting for grades. This news catalyzed a significant share price increase from the $0.40s to over $0.60.
– Positive Delivery: Today’s news delivers the assays for PC25-157. The result not only confirms gold mineralization in the step-out hole but exceeds expectations. The mineralized width of 76.5 metres is more than double the visually identified vein width from November. The discovery of a mineralized stockwork halo adds a new dimension to the project, introducing a bulk-tonnage target in addition to the high-grade vein.
This development is critical because it significantly increases the potential tonnage and scale of the deposit. While high-grade veins are attractive, demonstrating a surrounding lower-grade, bulk-mineable envelope makes a project more robust and economically viable. The market has anticipated good results, as reflected in the stock’s run from $0.35 in September to $0.73 prior to this release. However, the addition of a new mineralization style is an unexpected positive development that fundamentally improves the project’s potential.
Catalysts
– Immediate: Assay results for core hole PC25-158 are the next major catalyst. This hole is a further 60-metre step-out north of PC25-157. The company has already reported visually intersecting the thick veining. Strong results would confirm 120 metres of strike length from the initial high-grade discovery and would be a significant de-risking event.
– 3-6 Months:
– Further results from the ongoing metallurgical program. The Phase 2 column leach tests using HPGR crushing technology are crucial to confirm and potentially improve upon the 76% gold recovery achieved in Phase 1, which is key for demonstrating the viability of a heap-leach operation.
– Commencement of and results from the expanded 2026 drill program. The company filed to permit 16 new drill pads to further test the strike and dip potential of the Perry vein.
– Any news on a potential joint venture for the Silverton Antimony-Gold Project in Nevada, which would allow the company to maintain full focus on its flagship Philadelphia project.
Materiality Conclusion
The assay results from hole PC25-157 are materially positive. They successfully extend the high-grade Perry vein system along strike and, more importantly, have identified a previously unrecognized, wide, mineralized stockwork halo. This introduces a significant bulk-tonnage component that could fundamentally increase the potential size and economic viability of the Philadelphia project. The news confirms the geological model is improving with each drill hole.
