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Re: Press Releases - Monday, March 12, 2012
Arian Silver Increases Contained Silver at San Jos� by 32% to
More Than 117 Million Ounces in Updated Mineral Resource Estimate
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London, England, Arian Silver Corporation ("Arian" or the "Company")
(TSXV: AGQ) (AIM: AGQ) (FRANKFURT: I3A), a silver exploration,
development and production company with a focus on projects in the
silver belt of Mexico, today announced the results of its updated
Canadian National Instrument (NI) 43-101 mineral resource estimate for
its 100%-owned San Jos� Property ("San Jos�"), located in Zacatecas
State, Mexico.
Highlights:
.. 29% increase in resource tonnage along the San Jos� Vein ("SJV") from
the July 2011 mineral resource estimate;
o Contained ounces of silver are up 32%;
o Contained pounds of lead are up 29%; and
o Contained pounds of zinc are up 30%;
.. Mineralisation remains open along the western and eastern strikes of
the SJV and to depth; and
.. Further drilling is planned to infill the current resources, step out
along the remaining SJV structure in both directions, and to drill at
depth on the SJV.
Commenting on today's independent mineral resources estimate update,
Arian's Chief Executive Officer, Jim Williams, said:
"Our latest updated resource estimate reaffirms the potential for very
significant silver, lead and zinc resources at San Jos�, which we
believe will continue to grow in size with further systematic
exploration. Today's reported resource figures mark a significant
increase in total resources and are positive indicators for expanded
future mining plans at San Jos�. Contained silver alone has increased
by 32% above the independent resource estimate reported in July last
year."
Regarding potential resource growth, Mr Williams explained:
"Almost 2 kilometres of SJV structure to the West, and over 1.5
kilometres to the East remain to be drilled, together with a
significant amount of infill drilling to further detail the current
resources; this is in addition to down dip extensions of the vein. We
also still have a number of other targets to drill within the property,
which provide further potential upside."
The in-situ resources comprise 8,000,000 gross tonnes in the Indicated
mineral resource category, containing 30.61 million (M) ounces (oz)
silver (Ag), 67.02 M pounds (lb) of lead (Pb) and 149.91 M lb of zinc
(Zn) at an average grade of 119 g/t Ag, 0.38% Pb and 0.85% Zn; and
24,500,000 gross tonnes in the Inferred mineral resource category,
containing 86.65 M oz Ag, 205.25 M lb of Pb, and 410.50 M lb of Zn at
an average grade of 110 g/t Ag, 0.38% Pb and 0.76% Zn.
Management continues to believe San Jos� has much more resource upside
to offer and more drilling will be conducted in due course to continue
the evaluation of the various untested mineral systems and to further
upgrade current resource categories.
The mineral resource estimate is summarized in the table below. The
full technical report prepared by CSA Global (UK) Limited will be filed
on SEDAR within 45 days. A schematic plan together with schematic views
through the resource model showing the updated resources in relation to
the San Jos� Vein strike is available at the links provided below:
Eastern SJV Resource Area: http://www.ariansilver.com/i/pdf/ESJ.pdf
Central SJV / Santa Ana Resource Area:
http://www.ariansilver.com/i/pdf/SA.pdf
Western SJV / Guanajatillo Resource Area:
http://www.ariansilver.com/i/pdf/Guan.pdf
SJ Project Drill Holes, Aerial View:
http://www.ariansilver.com/i/pdf/barrenos-24-de-febrero-2012.pdf
San Jos� Mineral Resource Estimate -- 12 March 2012
Resource Category Tonnes Average Grade Contained Metal
(t) Ag (g/t) Pb (%) Zn (%) Ag (M oz) Pb (M lb) Zn (M lb)
Indicated 8,000,000 119 0.38 0.85 30.61 67.02 149.91
Inferred 24,500,000 110 0.38 0.76 86.65 205.25 410.50
Notes:
1. Geological characteristics and +30 ppm grade envelopes used to
define resource volumes
2. The mineral resource estimate is in accordance with CIM standards
3. The effective date of the mineral resource estimate is 12 March 2012
4. The estimate is based on geological, statistical and geostatistical
data assessment and Ordinary Kriging (OK) linear grade interpolation
into Ag wireframe restricted block model volumes
5. Tonnages have been rounded to reflect this as an estimate
6. Contained ounces have been calculated using 1 oz = 31.1035 g
7. Contained pounds have been calculated using 1 t = 2204.6226 lb.
The mineral resource estimate update has included all relevant drill
holes from the Company's recently completed Phase 4 drill programme as
well as phases 1, 2 and 3.
QA/QC
All technical information for the San Jos� is obtained and reported
under a formal quality assurance and quality control (QA / QC)
programme. The core is logged and photographed by Arian staff and then
split using a
Diamond saw. Half the core is stored on-site in a secure
core shed and the other half is labelled, bagged and secured before
transporting to Stewart Group's sample preparation facility in
Zacatecas, Mexico. Each sample has its own unique sample number. The
entire half-core is crushed to minus 10 mesh and a half kilogram riffle
split is pulverized and homogenized to minus 200 mesh. The pulp samples
are then air freighted to Stewart Group's analytical laboratory in
Canada for analysis. Systematic assaying of duplicates, blanks and
certified reference material is performed for precision and accuracy;
quality procedures and processes are continually reviewed and monitored
independent of Arian with protocols in place to deal with any
non-conformity. Stewart Group's laboratories in Zacatecas, Mexico, and
Kamloops, BC, Canada, are ISO 9001:2000 accredited.
Approximately 5% of the analysed samples are re-sampled and sent to ALS
Chemex preparation facility in Guadalajara, Mexico. The samples consist
of both coarse reject samples as well as pulp samples. The coarse
material is crushed and pulverised according to the same protocol, and
the pulp samples are air freighted to ALS Chemex's analytical
laboratories in Vancouver, Canada, for analysis. Results from all
duplicate analyses are compared to identify potential analytical or
sampling errors.
Stewart Group and ALS Chemex Laboratories are independent of Arian.
The samples were analysed for a multi-element scan by aqua regia
digestion and ICP (inductively coupled plasma) finish. High-grade
samples (>200 g/t Ag) were re-analysed by fire assay with a gravimetric
finish.
Qualified Person
The "Qualified Person" (as such term is defined in Canadian National
Instrument 43-101) who supervised the preparation of the updated
resource estimate for the San Jos� Project, is Mr Galen White, who is
an employee and Principal Geologist of independent consultants CSA
Global (UK) Limited. Mr White has reviewed, verified and approved the
contents of this release that relates to the reporting of the updated
Mineral Resource Estimate, in the context in which it appears.
Mr Jim Williams, Eur Ing, Eur Geol, BSc, MSc, D.I.C., FIMMM, the Chief
Executive Officer of Arian, is a "Qualified Person" as defined in the
AIM guidelines of the London Stock Exchange, and a "Qualified Person"
as such term is defined in Canadian National Instrument 43-101 ("NI
43-101"). This press release has been prepared under Mr Williams'
supervision. Mr Williams has verified the data disclosed in this
release including sampling, analytical and test data underlying the
technical information included herein, and the mineral resource
estimate disclosed herein.
About the Company
Arian is a silver exploration, development and production company and
is listed on London's AIM; trades on London's "PLUS" market; is listed
on Toronto's TSX Venture Exchange and on the Frankfurt Stock Exchange.
Arian is active in Mexico, the world's largest silver producing
country. The Company's main project is the San Jos� project in
Zacatecas State. Part of Arian's forward-looking strategy lies in the
envisaged use of large scale mechanized mining techniques over wider
mineralized structures, which reduces the overall unit operating cost
of metals, and to build up NI 43-101 compliant resources.
Further information can be found by visiting Arian's website:
www.ariansilver.com or the Company's publicly available records at
www.sedar.com.
Forward-Looking Information
This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes, expects
or anticipates will or may occur in the future (including, without
limitation statements relating to the San Jos� Project with respect to
estimates in respect of mineral resource quantities, mineral resource
qualities, the potential scope and context of the mineralized area, the
potential for upgrading the mineral resource estimate and the Company's
exploration and drilling targets, goals, objectives and plans. These
forward-looking statements reflect the current expectations or beliefs
of the Company based on information currently available to the Company.
Forward-looking statements are subject to a number of significant risks
and uncertainties and other factors that may cause the actual results
of the Company to differ materially from those discussed in the
forward-looking statements, and even if such actual results are
realized or substantially realized, there can be no assurance that they
will have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ materially
from current expectations include, but are not limited to: failure to
establish estimated mineral resources, the grade, quality and recovery
of mineral resources varying from estimates, risks related to the
exploration stage of the Company's properties, the possibility that
future exploration results will not be consistent with the Company's
expectations (including identifying additional and/or deeper
mineralization), changes in the price of silver, changes in equity
markets, political developments in Mexico, uncertainties relating to
the availability and costs of financing needed in the future, changes
to regulations affecting the Company's activities, delays in obtaining
or failures to obtain required regulatory approvals, the uncertainties
involved in interpreting drilling and exploration results and other
geological data and other factors (including exploration, development
and operating risks).
Any forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although the Company believes
that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guaranteed of future
performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.
The mineral resource figures disclosed in this press release are
estimates and no assurances can be given that the indicated levels of
silver and other minerals will be produced. Such estimates are
expressions of judgment based on knowledge, mining experience, analysis
of drilling results and industry practices. Valid estimates made at a
given time may significantly change when new information becomes
available. While the Company believes that the mineral resource
estimates disclosed in this news release are well established, by their
nature mineral resource estimates are imprecise and depend, to a
certain extent, upon statistical inferences which may ultimately prove
unreliable. If such estimates are inaccurate or are reduced in the
future, this could have a material adverse impact on the Company.
Mineral resources are not mineral reserves and do not have demonstrated
economic viability. Inferred mineral resources are estimated on limited
information not sufficient to verify geological and grade continuity or
to allow technical and economic parameters to be applied. Inferred
mineral resources are too speculative geologically to have economic
considerations applied to them to enable them to be categorized as
mineral reserves. There is no certainty that mineral resources can be
upgraded to mineral reserves through continued exploration.
For further information please contact:
Arian Silver Corporation
Berkeley Square House
Berkeley Square
London
W1J 6BD
England
OR
Arian Silver Corporation
Jim Williams
CEO
(London) +44 (0)20 7887 6599
jwilliams@ariansilver.com
OR
Grant Thornton Corporate Finance
Gerry Beaney
(London) +44 (0)20 7383 5100
gerry.d.beaney@gtuk.com
OR
XCAP Securities PLC
Karen Kelly
(London) +44 (0)20 7101 7070
Karen.Kelly@xcapgroup.com
OR
Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0) 7768 537 739
dominic@yellowjerseypr.com
OR
CHF Investor Relations
Cathy Hume
(Canada) +1 416 868 1079 x 231
cathy@chfir.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
and no stock exchange, securities commission or other regulatory
authority accepts responsibility for the adequacy or accuracy of this
release nor approved or disapproved of the information contained
herein.
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Copyright (c) 2012 ARIAN SILVER CORPORATION (AGQ) All rights reserved.
For more information visit our website at http://www.ariansilver.com/
or send mailto:info@ariansilver.com
Message sent on Mon Mar 12, 2012 at 6:45:27 AM Pacific Time
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