On behalf of Jim Williams, CEO of Arian Silver Corporation,
please see below for Arian’s latest news release;
Trading
Symbols
AIM:
AGQ
TSX-V:
AGQ
“PLUS”:
AGQ
FWB:
I3A
10 March 2008
Initial
NI 43-101 Resource Calculation at Tepal
Arian Silver
Corporation (“Arian” or the “Company”),
the AIM and TSX-V quoted silver exploration company with properties in Mexico, is pleased to announce the completion of
a Canadian National Instrument (NI) 43-101 mineral resource estimate for the
Tepal Property, located in Michoac�n
State, Mexico.
The resource estimation has been prepared by international mining consultants,
A.C.A. Howe International Limited.
Highlights –
- 1.18 million ounces of gold
- 421 million pounds of copper
- 2.58 million ounces of gold-equivalent
- Initial inferred resource estimate from only 50% of the
drill-holes completed to date
- Resource areas open along multiple directions and to
depth
- Further resource calculation to follow once Phase-1
drilling programme is completed
- Phase-1 drill programme to total 7,500 metres
This initial resource estimate of
78.8 million tonnes (MT) containing 1.18 million ounces (oz) of gold and 421
million pounds (lbs) of copper is in the “inferred” mineral
resource category and contained within two distinct mineralized zones (North
and South Zones).� Input data for estimations is from 31 verified historical
core holes, and 23 Arian core holes drilled to an aggregate depth of 3,435.4m,
completed by the Company up until December 2007.
Results from an additional 15 holes
sited within or with close proximity to the zones currently delineated by this
estimate are not included in this resource statement. The results from these
holes, together with holes from the on-going Phase-1 drilling, will be reported
and modelled for an updated resource statement in due course. The resource
estimates are summarised in the table below, and a plan showing the extent of
the resources can be viewed in the following two links: -
Tepal Long Section: http://media3.marketwire.com/docs/Tepal1.pdf.
Tepal Plan Map: http://media3.marketwire.com/docs/Tepal2.pdf.
Tepal Inferred Mineral Resource Estimates
|
|
|
Grade
|
Contained Metal
|
Zone
|
Type
|
Tonnes
|
Au
|
Cu
|
AuEq
|
Au
|
Cu
|
Au Eq
|
|
|
(‘000)
|
g/t
|
%
|
g/t
|
(oz x 000’s)
|
(Mlbs)
|
(oz x 000’s)
|
North
|
Oxide
|
45,404
|
0.46
|
0.27
|
1.04
|
674
|
254.07
|
1,521
|
South
|
Oxide
|
33,440
|
0.47
|
0.23
|
0.99
|
506
|
167.45
|
1,061
|
|
|
78,844
|
0.47
|
0.24
|
1.03
|
1,180
|
421.53
|
2,582
|
1. Au = Gold. Cu = Copper. AuEq = Gold Equivalent
2. Gold Equivalent Grades (g/t) were calculated using metal prices of
US$600/oz Au, US$2/lb Cu and assuming 100%
recoveries.
3. The mineral resource estimates are in accordance with CIM and JORC
standards
4. The effective date of the mineral resource estimates is 3 March 2008
5. The estimates are based on geostatistical data assessment and
preliminary computerised IDW3, 0.18 g/t Au grade wireframe restricted, linear block modelling
Arian Silver Mexico S.A. de C.V., a
wholly owned subsidiary of the Company, holds a 100% exclusive option to
acquire the Tepal Property. The Property comprises six exploitation concessions
covering some 14,000 hectares (ha) that contain Au-Cu porphyry-style
mineralization that have been explored in the past by Inco, Teck and Hecla.
Arian’s
Chief Executive Officer, Jim Williams, stated, “We are extremely pleased
to be releasing these initial compliant resource estimates for our Tepal
Project, and in doing so have achieved our initial forecasted task by
confirming the historical resources previously identified. We believe that we
can significantly expand the two resource zones and identify additional
compliant resources in a number of un-drilled targets that we have identified
in our 2007 surface exploration programme.”
All technical information for the
Tepal Project 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 sampled, bagged and secured before
transporting to ALS Chemex’s sample preparation facility in Guadalajara, Mexico. The entire half-core is
crushed and two kilograms is pulverised and homogenised. 150-gram pulp samples
are then freighted to ALS Chemex’s analytical laboratory in Vancouver, British
Columbia for analysis. Systematic assaying of
duplicates is performed for precision and accuracy; check assays are regularly
conducted by ALS Chemex. Each sample has its own unique sample number.
Approximately 5% of the analysed samples are re-sampled and sent to the
Inspectorate preparation facility in Durango,
Mexico. The
samples consist of both coarse reject samples and 150-gram pulp samples. The
coarse material is crushed and pulverised, and all the pulp samples are
transported to Inspectorate’s analytical laboratories in Reno, Nevada,
for analysis. Results from all duplicate analyses are compared to identify
potential analytical or sampling errors.
The Inspectorate and ALS Chemex
laboratories are independent of Arian.
The samples were analysed for 32
elements by ICP (inductively coupled plasma), preceded by an Aqua Regia
digestion. Gold was analysed by fire assay with an atomic absorption finish.
High-grade samples (gold >3 g/t and silver >100 g/t) were re-analysed by
a fire assay with a gravimetric finish.
Additional information with respect to the Tepal Project is contained in the
technical report prepared by A.C.A. Howe International Limited, which is dated
September 18, 2006 and entitled "Technical Report on the Tepal Project, Michoacan, Mexico".
A copy of the report can be obtained from Sedar at www.sedar.com.
The “qualified person”,
as such term is defined in NI 43-101, who prepared the mineral resource
estimates disclosed in this press release, is Mr. James Hogg. Mr. Hogg is an
employee of A.C.A. Howe International Limited, and is a member of the
Australian Institute of Geoscientists, and the Prospectors and Developers
Association of Canada. Mr. Hogg has reviewed and approved the contents of this press
release.
For further information please contact:
Company Name
|
Contact Name
|
Telephone Number
|
Arian
Silver Corporation
|
Jim Williams - CEO |
+44 (0)207 529 7511 (London)
|
Bishopsgate Communications Limited
|
Nick Rome
|
+44 (0)207 562 3350 (London)
|
Vicarage
Capital Limited
|
Martin Wood
|
+44 (0)207 060 1303 (London)
|
Grant
Thornton Corporate Finance
|
Gerry Beaney
|
+44 (0)207 385 5100 (London) |
Vanguard
Shareholders Solutions
|
Keith Schaefer |
��������������������
��������������������� +1 (604) 608
0824 (Canada)
Toll Free: 1866 898 0825 (US & Canada)
|
Arian Silver Corporation is a silver
exploration company listed on London’s AIM
and “PLUS”, 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 projects are the Calicanto and San Jose
projects in Zacatecas State and the Tepal project in Michoac�n 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 operating cost per ounce of silver, and to build up
National Instrument 43-101 compliant resources.
Arian was founded by Jim Williams,
Chief Executive Officer, and Tony Williams, Chairman, who together have over 50
years experience in exploration, project construction and mining worldwide.�
Further information can be found by
visiting Arian’s website: www.ariansilver.com
or the Company’s publicly available records at www.sedar.com.
No
stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained in this release.
The
TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Forward-Looking
Statements
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, the mineral resource
estimates disclosed in this press release and statements regarding exploration
results, potential mineralization, potential mineral resources, future
production and the Company's exploration and development plans and objectives)
are forward-looking statements.� 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 risks and uncertainties 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, among other things, failure to establish
estimated mineral resources, the possibility that future exploration results
will not be consistent with the Company’s expectations, uncertainties
relating to the availability and costs of financing needed in the future,
changes in commodity prices, changes in equity markets, political developments
in Mexico, changes to regulations affecting the Company's activities, foreign
currency fluctuations, delays in obtaining or failures to obtain required
regulatory approvals, the uncertainties involved in interpreting exploration
results and other geological data, and the other risks involved in the mineral
exploration and development industry.� 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 guarantees 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 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 resource estimates
included in this press release are well established, by their nature 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.�
There is no certainty that mineral resources can be upgraded to mineral
reserves through continued exploration.