Trading
Symbols
AIM: AGQ
TSX-V: AGQ
“PLUS”:
AGQ
FWB: I3A
30 October
2007
SAN JOSE
DRILLING RESULTS
Further
Drilling at the San Jose
Project Confirms
Western
Extension of the Vein System
Arian Silver
Corporation (“Arian” or the
“Company”) is pleased to announce that recent drilling has verified
the location of the western strike extension of the San Jose Vein System.
Highlights
- Confirmation of the Western
Extension of the San Jose Vein System
- More Wide Zones of Disseminated
Mineralisation Intersected
- More High-Grade Zones
Intersected
- Mineralisation Remains Open in
Multiple Directions
- Phase-1 Drilling Extended to
10,000 Metres
Solidad
Drill-holes
located in an area of the San Jose Vein System known as “Solidad”,
1.4 kilometres west of the San Jose shaft and head-frame, have intersected a
wide (up to 25m) vein system comprising silver and base-metal mineralisation.
A number of
holes were drilled into the “Solidad” zone where previous
geological mapping and surface trenching identified a number of
quartz-calcite-sulphide-rich veins emplaced within wide quartz-calcite-rich
breccias. The drilling intersected the San Jose Vein, which in places has
spliced into two veins, the ‘Foot-Wall’ vein and the
‘Hanging-Wall’ vein, at 50, 100 and 150 metres (m) below surface.
In addition, deeper drill-holes so far indicate that the San Jose Vein widens
from 3-5m at surface to 20+m at depth. The Company considers these results very
encouraging since in the historical workings the wider intercepts of the San
Jose Vein contained the higher-grade material.
Santa Ana
Drill-hole
results have also been received from the Company’s drilling in the
“Santa Ana”
area of the San Jose Vein. The Santa Ana area is located 800m west of the San
Jose shaft and head-frame, and the results confirm silver and base-metal
mineralisation continuing down-dip below the historic mine workings of the old
Santa Ana Mine.
The drilling
has identified a silver and base-metal-rich zone (up to 42m wide) that extends
at least 200m laterally and 200m vertically from the Santa Ana Mine. This zone
is open to the west towards the Solidad zone, referred to above and also to
depth. The eastern-most drill-hole (Hole 003) has intersected a lower-grade
silver and base-metal rich portion of the San Jose Vein, which is typically
found in the deeper portions of a classic epithermal vein system.
Selected
recently received assay results from the Solidad and Santa Ana areas are shown below: -
|
Drill-Hole
|
From (m)
|
To (m)
|
Core Length (m)
|
True Thickness (m)
|
Gold (g/t)
|
Silver (g/t)
|
Lead (%)
|
Zinc (%)
|
|
SJ-07-002
|
137.70
|
166.60
|
28.90
|
16.5
|
0.05
|
111.74
|
0.75
|
2.14
|
|
inc.
|
139.70
|
146.15
|
6.45
|
3.7
|
0.12
|
356.87
|
1.96
|
3.45
|
|
inc.
|
143.80
|
146.15
|
2.35
|
1.3
|
0.16
|
541.59
|
2.33
|
2.92
|
|
inc.
|
146.15
|
154.00
|
7.85
|
4.5
|
0.04
|
58.94
|
0.64
|
3.10
|
|
SJ-07-002B
|
124.75
|
190.50
|
59.90
|
42.4
|
0.02
|
64.19
|
0.22
|
0.75
|
|
inc.
|
127.75
|
138.40
|
11.65
|
6.6
|
0.05
|
118.63
|
0.73
|
2.25
|
|
inc.
|
126.75
|
127.75
|
1.00
|
0.6
|
0.18
|
210.30
|
3.05
|
3.52
|
|
inc.
|
130.60
|
131.60
|
1.00
|
0.6
|
0.06
|
130.30
|
2.01
|
4.11
|
|
SJ-07-003
|
169.80
|
173.85
|
4.05
|
2.3
|
0.05
|
30.67
|
0.57
|
3.12
|
|
SJ-07-016
|
215.10
|
249.70
|
34.60
|
24.5
|
0.06
|
96.61
|
0.68
|
1.35
|
|
inc.
|
218.75
|
227.05
|
8.30
|
5.9
|
0.06
|
191.11
|
1.12
|
1.94
|
|
inc.
|
225.05
|
227.05
|
2.00
|
1.4
|
0.06
|
241.65
|
1.38
|
2.68
|
|
SJ-07-016
|
235.05
|
237.90
|
2.85
|
2.0
|
0.12
|
242.44
|
2.55
|
2.93
|
|
inc.
|
237.05
|
237.90
|
0.85
|
0.60
|
0.26
|
517.60
|
7.63
|
5.69
|
|
SJ-07-017
|
57.60
|
61.10
|
3.50
|
2.5
|
0.03
|
135.09
|
0.16
|
0.53
|
|
inc.
|
59.60
|
60.20
|
0.60
|
0.4
|
0.02
|
198.70
|
0.10
|
0.99
|
|
SJ-07-018
|
87.00
|
90.90
|
3.90
|
1.7
|
0.02
|
150.01
|
0.10
|
0.28
|
|
inc.
|
88.55
|
88.90
|
0.35
|
0.2
|
0.03
|
212.20
|
0.21
|
0.52
|
|
SJ-07-018
|
93.90
|
99.10
|
5.20
|
2.2
|
0.04
|
72.83
|
0.67
|
2.17
|
|
SJ-07-019
|
54.35
|
68.55
|
14.20
|
10
|
0.05
|
101.05
|
0.09
|
0.31
|
|
inc.
|
57.75
|
59.75
|
2.00
|
1.4
|
0.03
|
269.10
|
0.08
|
0.22
|
|
inc.
|
58.75
|
59.75
|
1.00
|
0.7
|
0.04
|
379.30
|
0.10
|
0.26
|
|
SJ-07-020
|
95.7
|
122.4
|
26.7
|
11.3
|
0.07
|
98.74
|
0.33
|
1.03
|
|
inc.
|
95.7
|
99.7
|
4
|
1.7
|
0.02
|
152.80
|
0.11
|
0.38
|
|
inc.
|
105.7
|
106.7
|
1
|
0.5
|
0
|
429.9
|
0.24
|
1.4
|
|
inc.
|
114.9
|
122.4
|
7.5
|
3.2
|
0.08
|
101.15
|
0.86
|
2.39
|
|
SJ-07-020
|
128.4
|
132.4
|
4
|
1.7
|
0.07
|
32.40
|
1.29
|
5.28
|
There
follows a location map and a long-section view of the Solidad and Santa Ana
exploration zones of the San Jose Vein : -
Figure 1:
Plan map showing Santa Ana and Solidad
exploration zones in relation to San
Jose head-frame and underground mine workings
Figure 2:
Long-section view of Santa Ana
and Solidad exploration zones with drill-hole intersections (true widths).
As a result
of the positive and encouraging exploration results to-date and the recently
discovered multi-faceted types of mineralisation in the San Jose Vein, Block
450 and brecciated stockwork target areas (see press release dated 23 October
2007), the Company has decided to increase the size of its Phase-1 drill
program from 7,500m to 10,000m.
Arian’s
Chief Executive Officer, Jim Williams,
commented, “Our exploration program continues to discover new areas of
silver and base-metal mineralisation. As a result we have increased our drilling
program to 10,000m, out of which we have currently drilled some 7,000m. The
Solidad area was completely unexplored before we started our drilling program
and as a result of this program, the magnitude of the San Jose Vein System is now significantly larger
than previously envisaged.
The drilling
in the Santa Ana
area is also providing excellent results and drill-hole SJ-07-002 intersected
high-grade silver and base-metal mineralisation within 4m of our main haulage
ramp in the westerly direction. We believe the Santa Ana area also presents an excellent
opportunity to move this Project towards production in the not too distant
future”.
All
technical information for the San Jose 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 Inspectorate’s sample
preparation facility in Durango,
Mexico. The
entire half-core is crushed and two kilograms is pulverized and homogenized.
150 gram pulp samples are then air freighted to Inspectorate's
analytical laboratory in Reno,
Nevada for analysis. Systematic
assaying of duplicates is performed for precision and accuracy; check assays
are regularly conducted by Inspectorate. Each sample has its own unique sample
number. Inspectorate's laboratories in Durango, Mexico and Reno,
Nevada are ISO 17025 and ISO
9001:2000 accredited.
Approximately 5% of the analysed samples are re-sampled and sent to the ALS
Chemex preparation facility in Guadalajara,
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 air
freighted to ALS Chemex’s analytical laboratories in Vancouver, British Columbia,
for analysis. Results from all duplicate analyses are compared to identify
potential analytical or sampling errors.
Inspectorate
and ALS Chemex laboratories are independent of Arian.
The samples
were analysed for 32 elements by ICP (inductively coupled plasma), proceeded by a three acid digestion. High-grade
samples (gold >3 g/t and silver >200g/t) were re-analysed by fire assay
with a gravimetric finish.
Additional
information with respect to the San Jose Project is contained in a technical
report prepared by A.C.A. Howe International Limited, dated April 30, 2007, and
entitled “Technical Report on the San Jos� Project, Zacatecas, Mexico”.
A copy of this report can be obtained from SEDAR at www.sedar.com
Mr. Jim Williams, Eur Ing, Eur Geol, BSc, MSc, DIC,
FIMMM, CEng, CGeol, and 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 defined in the Canadian Securities
Administrators National Instrument 43-101. This press release has been prepared
under Mr. Williams’ supervision. Mr Williams has verified the data disclosed
by this release (including sampling, analytical and test data underlying the
information).
For
further information please contact:
|
In London :
|
In Vancouver :
|
|
Jim Williams
– CEO
Arian
Silver Corporation
+44
(0)20 7529 7511
|
Keith
Shaefer / Paul Lathigee
Vanguard
Shareholder Solutions
+1
(604) 608 0824
Toll
free: 1866 898 0825
|
|
Maxine
Barnes / Nick Rome
Bishopsgate
Communications Ltd.
+44
(0)207 562 3350
|
|
|
Gerry
Beaney,
Grant
Thornton Corporate Finance
+44 (0)207 385 5100
|
|
|
Daniel
Brooks / Tom Beattie
Haywood
Securities (UK)
Limited
+44
(0) 207 031 8000
|
|
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, statements regarding
exploration results, the estimation of mineral resources, 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, 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.
