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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,
is pleased to report an update on operational activities at its 100%-owned
San Jose Property in Zacatecas State, Mexico.
Highlights:
- Widest yet intersections of economic grade silver mineralisation
in the first two holes in the Guanajuatillo area along the San Jose Vein
("SJV");
- Phase 3 drilling completes to-date 24 holes for 4450 metres
("m") of the 10,000 m programme and 14 of these holes are
pending assays;
- Mineralisation remains completely open along strike and depth;
- To date, 68 tonnes of silver-bearing concentrate sold from the
120 tonnes produced so far; and
- Semi-mobile laboratory awaiting customs clearance in Mexican
port.
Commenting on today's operations
update, Arian's Chief Executive Officer, Jim Williams, said:
"We are highly encouraged by the latest results from our current
phase of drilling along the SJV. We continue to confirm the presence of
significant silver mineralisation in a westerly direction along the strike of
the SJV and have intersected the widest zones yet of economic silver
mineralisation in this area in the two holes announced today. We have now
completed 24 holes in this phase of drilling, which is about half of the
planned programme, and continue to drill further west following the extensive
strike of the SJV. A revised resource calculation will be undertaken on
conclusion of the current 10,000m drill programme. Fine-tuning of both the
mining and milling operations is ongoing, with 120 tonnes of silver
concentrate produced to date. Proceeds from the 68 tonnes of concentrate sold
to date amount to approximately US$580,000, subject to a final pricing review
and possible adjustment."
Drilling continues using two 'Longyear 44' drill rigs. Twenty-four drill
holes have been completed to date for a total of 4,480m. The initial eight
drill holes, which have previously been reported (January 31, 2011 press
release), were positioned between the previously demarcated Santa Ana and
Solidad resource blocks. This latest batch of assay results comprising two
holes were positioned around the village of Guanajuatillo, some six
kilometres west of the San Jose head-frame, while the remaining holes, which
are awaiting assay results, are located west of the village of Guanajuatillo.
These two holes continue to confirm, as expected, the continuation of silver
mineralisation along the SJV in a westerly direction. The
latest intercepts of note
are:
- Hole GW-11-002 comprising 9.80m with 150.1 g/t Ag, including
1.56m with 428 g/t Ag;
- Hole GW-11-006 comprising 15.94m with 118.4 g/t Ag including
0.82m with 330 g/t Ag.
The location of the drill holes in relation to
previous holes in this specific area are shown on the plan, which can be
found at:
http://media3.marketwire.com/docs/Arian_Plan_A.pdf
A simplified sketch plan showing the demarcated drilling areas along the SJV
can be found at:
http://media3.marketwire.com/docs/Arian_Plan_B.pdf
Current drilling is now concentrating in the area west of Guanajuatillo
village, and the results of this drilling will be reported when received.
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 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 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
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 by this
release.
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 proposed drilling programme at San José) 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 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.
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.
For further
information please contact:
Arian Silver Corporation
Berkeley Square House
Berkeley Square
London
W1J 6BD
England
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