Trading
Symbols
AIM: AGQ
TSX-V: AGQ
“PLUS”:
AGQ
FWB: I3A
13 August
2007
New
Near-Surface Silver Oxide Mineralization Discovered at San Jose Project
Highlights:
-
Near surface
initial drill intercepts include
�
13.7 metres @ 151.2 g/t silver, 0.16% lead and 0..44% zinc
�
20.6 metres @ 98.72 g/t silver, 0.04 g/t gold, 0..20% zinc
-
Potential open-pit
area identified where good infrastructure is in place
-
Increasing Phase 1
drill programme from 5,000 to 7,000 metres
-
Results from San Jose main vein
expected shortly
Arian Silver Corporation
("Arian" or the "Company") is pleased to announce an update
on the diamond drilling programme which commenced in May 2007 at the San Jose
Project, Zacatecas state, Mexico.
The
drilling has identified a wide, lower grade, near-surface mineralised zone,
which may be amenable to open-pit mining. This near-surface oxide
mineralization is entirely separate and not to be confused with the San Jose main vein.
Drill-holes
004 to 007 were drilled in an area east of the main head-frame in an area
referred to as “Block 450”. Underground mapping and archive data
has identified a number of historic blocks that have not previously been mined.
Drilling in this area to confirm historical data has identified higher grade
silver veins (with base-metal content) which are within a much wider lower-grade
disseminated zone of silver mineralisation. This lower-grade disseminated zone
of mineralisation is located near surface and may be amenable to open-pit
mining. The grades are comparable to similar oxide open-pit mines, for example,
Rochester in Nevada,
where Coeur d’Alene
Mines excavate material grading 28 g/t silver and 0.34 g/t gold.
Arian's
Chief Executive Officer, Jim Williams,
said, “This near surface oxidised mineralisation identified in
“Block 450” may have the potential for open-pit mining. This area
could be put into production very quickly, subject to our ongoing scoping
studies, and help us reach one of our main objectives, to be in production by
2009.”
The assay data from these holes is
summarized in the table below:-
Hole ID
|
From
(m)
|
To
(m)
|
Core length
(m)
|
True thickness
(m)
|
Ag
g/t
|
Au
g/t
|
Pb
%
|
Zn
%
|
SJ-07-004
|
55.00
|
74.40
|
19.40
|
13.70
|
151.20
|
0.04
|
0.16
|
0.44
|
SJ-07-005
inc.
|
64.70
67.50
|
73.80
71.70
|
9.10
4.20
|
6.40
2.95
|
121.50
217.00
|
0.04
0.08
|
0.16
0.31
|
0.43
0.71
|
SJ-07-006
|
41.45
|
70.55
|
29.10
|
20.60
|
98.72
|
0.04
|
0.13
|
0.20
|
inc.
|
52.30
|
54.50
|
2.20
|
1.60
|
276.00
|
0.09
|
0.39
|
0.26
|
SJ-07-007*
|
0.00
|
38.80
|
38.80
|
27.40
|
80.32
|
0.00
|
0.03
|
0.07
|
inc.
|
18.80
|
25.00
|
6.20
|
4.40
|
192.20
|
0.00
|
0.07
|
0.11
|
*holes
where partial assay results have been received.
The
Company has made considerable progress on its early stages of drilling at San Jose. To date the Company
has completed twenty-six 'NQ'-size diamond drill holes totalling some 4,000
metres (m) of the 5,000m phase 1 programme.
In
view of these results, Arian has decided to expand the phase 1 program to 7,000
metres.
The ongoing
drill programme has been designed both to confirm the historical drill-hole
data and to expand on a number of priority target areas. Further assays are in
the lab and are due shortly from the San
Jose main vein.
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 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. The
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 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 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”.
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
Parkgreen 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,
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.