Trading
Symbols
AIM: AGQ
TSX-V: AGQ
“PLUS”:
AGQ
FWB: I3A
Continued
High Grades on Calicanto
16th
April 2007
Arian
Silver Corporation ("Arian" or
the "Company") is pleased to announce continued high grade results
from its diamond drilling programme, which has just been completed at its Calicanto Group of properties in Zacatecas state, Mexico.
This drilling programme commenced in December 2006.
The Company has made considerable progress on its early stages of drilling at Calicanto, and has completed sixteen 'NQ'-size diamond
drill holes totalling 3,000
metres (m).
Arian's
Chief Executive Officer, Jim Williams, said, “The
positive results from the drilling have identified as planned, the continuation
of epithermal silver-gold veins along strike and to depth below the known mine
workings. The ‘blind’ discoveries in holes 016, 006, and 003 have
demonstrated that there is excellent potential for the Calicanto
property to host additional, undiscovered silver-gold veins, which have proven
to host bonanza grade silver-gold mineralization.”
Assays
for the first four holes have already been released on 19th February
and results from a further 7 holes are set out below:
Drill-hole
|
From (m)
|
To (m)
|
Core Length
(m)
|
True Thickness
(m)
|
Au (g/t)
|
Ag (g/t)
|
AgEq*
(g/t)
|
AgEq* (oz/t)
|
CAL-06-008
|
150.25
|
155.45
|
5.2
|
4.5
|
8.54
|
296.75
|
706.65
|
20.6
|
inc.
|
152.9
|
153.45
|
0.55
|
0.50
|
43.50
|
2,130.00
|
4,218.00
|
123.0
|
|
|
|
|
|
|
|
|
|
CAL-06-008
|
209.6
|
212.95
|
3.35
|
2.75
|
1.15
|
47.09
|
102.05
|
2.97
|
inc.
|
211.7
|
212.95
|
1.25
|
1.05
|
2.40
|
34.20
|
149.40
|
4.36
|
|
|
|
|
|
|
|
|
|
CAL-06-016
|
138
|
141.5
|
3.5
|
2.5
|
0.17
|
161.29
|
169.33
|
4.94
|
inc.
|
139.7
|
140.75
|
1.05
|
0.75
|
0.29
|
286.00
|
300.11
|
8.75
|
|
|
|
|
|
|
|
|
|
CAL-06--003
|
139.6
|
140
|
0.4
|
0.35
|
2.75
|
64.30
|
196.30
|
5.72
|
|
|
|
|
|
|
|
|
|
CAL-06--003
|
161.65
|
164.6
|
2.95
|
2.10
|
0.78
|
199.59
|
236.84
|
6.90
|
inc.
|
163.6
|
164.6
|
1
|
0.70
|
1.75
|
386.00
|
469.76
|
13.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Drill-hole
|
From (m)
|
To (m)
|
Core Length
(m)
|
True Thickness
(m)
|
Au (g/t)
|
Ag (g/t)
|
AgEq* (g/t)
|
AgEq* (oz/t)
|
CAL-06-006
|
68.85
|
69.45
|
0.6
|
0.45
|
0.06
|
212.00
|
214.78
|
6.26
|
|
|
|
|
|
|
|
|
|
CAL-06-006
|
130.55
|
132.5
|
1.9
|
1.35
|
1.86
|
156.00
|
245.28
|
7.15
|
|
|
|
|
|
|
|
|
|
CAL-06-014
|
136.4
|
137.7
|
1.3
|
1.10
|
1.10
|
98.00
|
150.56
|
4.4
|
|
|
|
|
|
|
|
|
|
CAL-06-007
|
118.75
|
120.75
|
2
|
1.75
|
1.27
|
98.20
|
158.92
|
4.63
|
|
|
|
|
|
|
|
|
|
CAL-06-015
|
38.95
|
40
|
1.05
|
0.90
|
1.15
|
13.10
|
68.06
|
1.98
|
|
|
|
|
|
|
|
|
|
CAL-06-015
|
86.7
|
88.1
|
1.4
|
0.7
|
0.77
|
167.00
|
204.06
|
5.95
|
|
|
|
|
|
|
|
|
|
*Silver equivalent grade is calculated on
the basis of US$12.50/oz Ag and US$600/oz Au. Silver equivalent calculations reflect
gross metal content and have not been adjusted for metallurgical recoveries.
Details of the drill hole
locations are available at the following link: http://www.ccnmatthews.com/docs/Calicanto_DH_Plan_Map.pdf
Drill-hole
CAL-06-008 was an inclined hole (-85o), designed to explore for the
continuation of the Calicanto vein below hole
CAL-06-007, and along strike from hole CAL-06-011. The hole intersected a 4.5m
wide, silver-gold vein at approximately 150m depth, believed to be the down-dip
continuation of the Calicanto Splay/Principe vein. At
approximately 210m a 2.75m wide gold-silver vein was intersected, believed to
be the continuation along strike of the Calicanto
vein.
Drill-hole
CAL-06-016 was an inclined hole (-60o), designed to explore the
down-dip continuation of the high-grade El Misie vein
encountered in hole CAL-06-017. At approximately 140m depth, the hole
intersected a 2.5m wide zone of silver-gold mineralization. A second 5m wide
‘blind’ vein was encountered at 190m depth but did not contain
significant silver values.
Drill-hole
CAL-06-003 was an inclined hole (-60o), designed to explore for the
down-dip continuation of the high-grade Vicochea vein
encountered in drill-hole CAL-06-001. A narrow (0.35m wide) gold-silver vein
was encountered at 140m depth and is believed to be the down-dip continuation
of the main Vicochea Vein. A second, 2.10m wide,
silver-gold vein was also encountered at approximately 160m which appears to be
a ‘blind’ discovery of a new vein associated with the Vicochea Vein System.
Drill-hole
CAL-06-006 was an inclined hole (-55o) that was designed to explore
for the continuation of the Calicanto vein along
strike from the Calicanto Ramp. At approximately 69m
depth, a narrow (0.45m wide), silver-gold vein was encountered, believed to be
the main Calicanto vein, and was surrounded by a zone
of veining and stockwork mineralization. A second,
unknown silver-gold vein (1.35m wide) was encountered at 131m depth. The
drill-hole indicates that the Calicanto vein
continues along strike.
Drill-hole
CAL-06-014 was an inclined hole (-55o), designed to explore for the
San Buenaventura and Nevada Vein systems. A second silver-gold vein, the Nevada vein (1.1m wide) was intersected at 137m, and
demonstrated that there is a good possibility for the continuation of the Nevada vein along strike
from the Collado Mine to the Vicochea
Mine, a distance of 300m that appears not to have been exploited.
Drill-hole
CAL-06-007 was an inclined hole (-75o) that was designed to explore
for the continuation of the Calicanto vein below hole
CAL-06-006. The Calicanto vein (1.75m wide) was
intersected at approximately 120m depth.
Drill-hole
CAL-06-015 was an inclined hole (-80o), designed to explore for the
San Buenaventura and Nevada Vein systems along strike from hole CAL-06-014. At
39m a narrow (0.9m wide) gold-silver vein (San Buenaventura Vein) was
encountered. At 87m, a second narrow (0.7m wide) vein (Nevada Vein) was
intersected, demonstrating that both the Nevada
and San Buenaventura veins continue along strike.
The
Company continues to advance both its underground declines on the Calicanto structure and the San Buenaventura structure. The
Calicanto decline is currently 85m in and the San Buenaventura decline is 67m in, where Run-Of-Mine (ROM) material is being stockpiled
before being treated in a nearby milling facility which will indicate both head
grade and recovery.
All technical information for the Calicanto
property 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 the ALS Chemex preparation facility in Guadalajara. The entire
half-core is crushed and two kilograms is pulverized and homogenized. 150 gram
pulp samples are then air freighted to ALS Chemex’s
analytical laboratories 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. The ALS Chemex
laboratories in North America are ISO 17025
and ISO 9001:2000 accredited.
Approximately 5% of the analysed samples are re-sampled and sent to BSi/Inspectorate’s sample 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
freighted to BSi/Inspectorate's analytical laboratory
in Reno, Nevada
for analysis. Results from all duplicate analyses are compared to identify
potential analytical or sampling errors.
The ALS Chemex and BSi/Inspectorate
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 Calicanto
property is contained in a technical report prepared by A.C.A. Howe
International Limited, dated March 20, 2006, and entitled "Technical
Report on the Calicanto and San Celso
Projects, Zacatecas, Mexico".
Mr. Jim
Williams, Eur Ing, Eur Geol, 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
|
Investor
Relations,
Vanguard
Shareholder Solutions
+1
(604) 608 0824
Toll
free: 1866 898 0825
|
Justine
Howarth/ Clare Irvine
Parkgreen
Communications
+44 (0)20 7851 7480
|
|
Gerry
Beaney,
Grant
Thornton Corporate Finance
+44 (0)207 385 5100
|
|
Daniel
Brooks,
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 Celso projects in Zacatecas state, the Tepal
project in Michoac�n State and the San Jos� Property in Zacatecas State.
Part of Arian’s forward-looking strategy lies in the envisaged use of
large scale mechanised mining techniques over wider mineralised 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.
Arian is supported by the Dragon Group in London,
and the Endeavour Group in Canada.
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, potential mineralization and resources, 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, 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, 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.
______________________________________________________________________
This email has been scanned by the MessageLabs Email
Security System.
For more information please visit http://www.messagelabs.com/email
______________________________________________________________________