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Symbols
AIM: AGQ
TSX-V: AGQ
“PLUS”:
AGQ
FWB: I3A
26 July 2007
Drill
Results Confirm and Discover Additional Mineralised Zones at San Jose
Drill Holes
Indicate Strong Base Metal Values over Several Metres
Highlights:
-
Initial drill
intercepts
�
3.5 metres @ 435 g/t and 5.7 metres @
365 g/t silver equivalent grades
-
Mineralised
structures are now confirmed at least 2.7 km west of the old San Jose headframe
-
Approx. 65% of
Phase-1, 5,000 metre drilling programme completed
-
Strong base metal
values increase economic potential
-
Mineralised widths
appear to support low cost mechanised mining
Arian
Silver Corporation
(“Arian” or the “Company”) is pleased to report results
from the first two drill holes from its Phase-1, 5,000 metre diamond-drilling
programme at the San Jose property, Zacatecas
state, Mexico.
These two holes have been drilled in an under explored area west of the old San Jose headframe and the results are outlined below:
Drill-hole
|
From (m)
|
To (m)
|
Core Length
(m)
|
True Thickness
(m)
|
Gold
(Au) (g/t)
|
Silver (Ag)
(g/t)
|
Lead (Pb) (%)
|
Zinc (Zn)
(%)
|
Copper
(Cu) (%)
|
AgEq*
(g/t)
|
SJ-07-001
|
86.7
|
91.7
|
5.00
|
3.50
|
0.00
|
72.73
|
0.38
|
3.05
|
0.08
|
435.4
|
inc.
|
90.7
|
91.7
|
1.00
|
0.70
|
0.04
|
53.60
|
0.20
|
6.75
|
0.04
|
832.1
|
|
|
|
|
|
|
|
|
|
|
|
SJ-07-001B
|
167.7
|
175.8
|
8.10
|
5.70
|
0.30
|
75.90
|
0.43
|
2.22
|
0.04
|
364.8
|
inc.
|
167.7
|
168.7
|
1.00
|
0.70
|
0.02
|
99.60
|
0.91
|
3.62
|
0.06
|
561.6
|
* Silver
equivalent grade is calculated on the basis of US$12.50/oz Ag, US$600/oz Au,
1.50/lb Zn, $0.50/lb Pb and $2/lb Cu. Silver
equivalent calculations reflect gross metal content and have not been adjusted
for metallurgical recoveries.
Arian's
Chief Executive Officer, Jim Williams,
said, “These assays confirm there are mineralised structures wide
enough to support low cost, mechanised mining. These silver grades,
combined with the high base metal values we are seeing, are potentially
economic with large enough tonnage. Our goal over the coming months is to
define a NI 43-101 compliant silver resource at the San Jose property.
In addition,
the results of the underground chip-channel sampling programme attached (see
Table 1) show lower silver values, which can be expected as the higher grade
material has already been removed, but significant zinc and lead
mineralisation, which has apparently been ignored in the past possibly
indicates a multi-phase mineralisation of the vein system. This could indicate
a much wider mineralised structure which would be suitable for mechanised
mining, with significant base metal credits.”
A map
showing drill-hole locations can be found at:
http://www.ccnmatthews.com/docs/SanJoseDrillPlanMap.pdf
The high
base metal values are typical of this type of epithermal vein.
Drill-hole
SJ-07-001 terminated at 91.65 metres and was an inclined hole (-55�) and was
designed to test for the mineralisation at depth of the San Jose Vein. The hole
intersected 5 metres of the main vein at 86.7 metres before penetrating the
western ramp at 91.65 metres where the hole had to be terminated. This has left
the foot wall mineralisation untested by this hole.
Drill-hole
SJ-07-001B terminated at 236.85 metres and was an inclined hole (-60�). This
hole was positioned 50 metres south of the first hole and was designed to
intersect the main vein at 150 metres depth. At 167.3 metres the hole
intersected 8.1 metres (core thickness) of visible sulphide mineralisation,
assumed to be the San Jose Vein, the results of which are reported in this
release. After the mineralisation the hole then intersected further stockwork veining, with visible sulphide mineralisation.
These results are still awaited from the laboratory.
Results from
14 more holes are pending at the assay laboratory.
Underground
chip-channel sampling conducted over a total length of 100 metres in the Dois Nos Guie
70 metre level where the vein intersected the ramp (located 550 metres west of
the San Jose headframe) returned consistent silver and base metal
values, including 3.7 metres grading 345 g/t silver equivalent.
The sampling
programme results are set out in Table 1 attached to this press release.
A plan of
the sample locations can be viewed at the following link:
http://www..ccnmatthews.com/docs/DiosNosGuieLevel70.pdf
The
San Jose
property covers approximately 4,300 hectares, including the workings of the San
Jose Mine that operated from 1973 until 2001, where approximately 2.2 million
tonnes of material were extracted, grading 257 g/t Ag, with minor base-metal
credits.
The San Jose property is
relatively unexplored. Zimapan, a subsidiary of Industrias Pe�oles S.A. de C.V. (Pe�oles), drilled a number of shallow drill-holes to
explore the San Jose Vein to a depth of 50m below surface, for approximately
3km west of the known workings. The last phase of exploration drilling
was conducted during 1987-1989, and no further exploration work has been
conducted on the property.
In addition
to the main San Jose Vein, Arian has identified, from systematic work including
remote sensing and aerial photo mapping, additional new vein structures, which
have yet to be drill tested. The licence areas also hold great potential for
additional deposit types, such as skarn and stockwork, and these will be investigated as part of the
current and future programmes.
The proposed
drill programme has been designed both to confirm the historical drill-hole
data and to expand on a number of priority target areas.
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 the BSi/Inspectorate’s sample preparation
facility in Durango, Mexico. The entire half-core is
crushed and two kilograms is pulverized and homogenized. The chip-channel
samples are also transported to the BSi/Inspectorate’s
sample preparation facility in Durango,
Mexico, where
they are pulverized and homogenized. 150 gram pulp samples are then airfreighted to BSi/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 BSi/Inspectorate. Each
sample has its own unique sample number. The BSi/Inspectorate's
laboratories in Mexico
are ISO 17025 and 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 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.
The BSi/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. High-grade
samples (gold >3 g/t and silver >100g/t) were re-analysed by fire assay
with a gravimetric finish.
Additional
information with respect to the San Jose
property 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”.
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
Parkgeen Communications
+44 (0)20 7851 7480
|
|
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
and development 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
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 , potential mineral 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 ,the possibility that future exploration results will not be
sonsistent 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, 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.
Table 1:
Results of Chip-channel Sampling Programme
Sample Name
|
Sample Length (m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
AgEq*
(g/t)
|
|
|
|
|
|
|
|
|
|
|
SJ-14
|
2.10
|
0.03
|
88.5
|
0.04%
|
0.40%
|
4.70%
|
427.2
|
|
inc.
|
0.70
|
0.04
|
91.1
|
0.03%
|
0.44%
|
7.97%
|
654.7
|
|
|
|
|
|
|
|
|
|
|
SJ-7
|
2.20
|
0.06
|
123.5
|
0.06%
|
1.69%
|
3.02%
|
387.0
|
|
inc.
|
0.90
|
0.09
|
152.8
|
0.08%
|
1.71%
|
3.37%
|
444.5
|
|
|
|
|
|
|
|
|
|
|
SJ-1
|
2.50
|
0.12
|
157.2
|
0.08%
|
1.89%
|
2.37%
|
385.6
|
|
inc.
|
1.10
|
0.16
|
204.4
|
0.11%
|
2.65%
|
3.17%
|
513.7
|
|
|
|
|
|
|
|
|
|
|
* Silver equivalent grade is calculated on the basis
of US$12.50/oz Ag, US$600/oz Au, 1.50/lb Zn, $0.50/lb Pb
and $2/lb Cu. Silver equivalent calculations reflect gross metal content and
have not been adjusted for metallurgical recoveries.
|
|
|
|
|
|
Natalie
Naysmith
Executive Assistant
Arian
Silver Corporation
43 North Audley Street
London
W1K 6WH
Tel: +44 (0) 20 7529 7511
Fax: +44 (0) 20 7491 2244
www.ariansilver.com
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