Arian Silver Reports Phase-2 Assays on Initial 19 Holes at San Jose

November 6th, 2008

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Arian Silver Corporation (“Arian Silver” or the “Company”) (AIM/TSX-V: AGQ) today provided the results from the first 19 drill-holes from the Phase-2 drill programme at its San Jose Project.

Highlights:

  • Results include:
    • 2m @ 915 g/t Ag, 0.54% Pb and 0.46% Zn
    • 3m @ 319 g/t Ag, 0.32% Pb and 0.62% Zn
    • 6m @ 223 g/t Ag
    • 2.1m @ 775 g/t Ag
    • 3.6m @ 253 g/t Ag, 0.58% Pb, 1.07% Zn
  • New high-grade silver veins discovered.
Arian Silver’s Chief Executive Officer, Jim Williams, stated, “These latest results continue to confirm the high-grade zones discovered in the Phase-1 drill programme. Moreover, the Phase-2 assays so far show that the high-grade zones are even more extensive. Several drill holes intersected newly discovered high-grade silver mineralization between the San Jose vein and the San Gerado vein.”

The Phase-2 drill programme, which has so far drilled approximately 6,600 metres (m) in 38 holes, was designed to explore for the continuation of known silver zones, identified from our previous exploration and drilling programmes, and to test for new areas of mineralisation. Several holes were drilled into an area of stockwork mineralisation located approximately 200m north of the San Jose vein to trace the lateral continuation of the San Gerado vein. Hole 08-088 intersected a 2m wide vein grading 915.0 g/t (grams per tonne) silver (Ag), where the San Gerado vein is thought to extend. Drill-hole 08-101 drilled between the San Jose vein and the stockwork zones intersected several new veins grading >100 g/t Ag, including one that graded 775 g/t Ag over 2.1m. Drill-holes 08-084 and 08-085 discovered significant stockwork veining and a number of high-grade structures located in the hanging-wall of the San Jose vein in the vicinity of the Santa Ana mine, located 800m west of the San Jose shaft.

The table below sets out the intersections encountered in the initial results from Phase-2, programme.

Phase-2
Drill-hole

From

To

Core Length

True width*

Silver
Ag

Lead
Pb

Zinc
Zn


(m)

(m)

(m)

(m)

(g/t)

(%)

(%)

SJ-08-062

145.00

146.85

1.85

1.10

169.6

0.68

0.65

SJ-08-063

262.65

269.65

7.00

2.45

27.3

0.28

1.67

SJ-08-064

150.75

151.75

1.00

0.75

54

4.39

0.26

SJ-08-065

No Significant Results

SJ-08-066

159.40

161.40

2.00

1.40

140

0.10

0.18

SJ-07-067

No Significant Results

SJ-07-068

195.50

196.50

1.00

0.70

208

0.07

0.01

SJ-07-069

No Significant Results

SJ-07-084+

94.30

98.30

4.00

2.80

180

0.12

0.39

and

126.00

126.25

0.25

-

544

0.28

1.06

and

168.00

169.90

1.90

-

698

0.23

0.37

SJ-07-085+

116.95

118.10

1.15

-

464

0.15

0.48

SJ-08-088

112.60

114.60

2.00

-

915

0.54

0.46

and

118.60

119.60

1.00

-

150

0.13

0.26

SJ-08-089

106.30

107.55

1.25

-

236

0.12

0.36

SJ-08-091

No Significant Results

SJ-08-099

57.85

60.85

3.00

2.40

319

0.32

0.62

incl.

57.85

58.85

1.00

0.80

483

0.43

0.27

and

73.85

79.85

6.00

4.30

223

0.12

0.25

incl.

73.85

74.85

1.00

0.80

322

0.16

0.29

and

98.05

99.20

1.15

-

227

Trace

Trace

and

125.45

126.45

1.00

-

279

0.09

0.35

and

150.95

151.55

0.60

-

392

0.06

0.15

SJ-08-100

20.00

23.15

3.15

2.20

136.5

0.07

0.23

SJ-08-101

111.30

113.40

2.10

-

775

0.28

0.11

and

174.84

176.85

2.00

-

116

0.10

0.12

SJ-08-105

68.70

69.80

1.10

-

621

0.18

0.57

SJ-08-106

95.55

97.70

2.10

1.50

131.7

0.07

0.28

SJ-08-106A

67.30

70.90

3.60

2.20

253

0.58

1.07

incl.

69.35

70.90

1.55

0.95

348

0.80

1.60

*True widths for a number of structures cannot be determined, as they have only been intersected by a single hole.
+Hole lost in Santa Ana fault zone before intersecting San Jose vein.

The above drill results were tabulated using the following Ag cut-off grades: (1) wider intersections are included if they grade >30 g/t Ag over a minimum core length of 10m; (2) shorter intersections are included if they grade >100 g/t Ag, or >1% Pb or Zn over a core length of >0.5m.

The attached plan shows the location of the Phase-2 drill holes, and those holes for which assay results have so far been received.

http://media3.marketwire.com/docs/sanjoseproject.pdf

About the San Jose Project

Arian Silver’s San Jose Property (approximately 6,300 hectares) is located in Zacatecas State, Mexico, 55km east of the mining town of Zacatecas, and within the renowned Fresnillo Silver Trend that hosts a number of world-class silver deposits.

Arian Silver Mexico S.A. de C.V., a wholly-owned subsidiary of the Company, holds a 100% exclusive option to acquire the San Jose Project. The Project concessions include the past producing San Jose Mine, which was operated by a subsidiary of Peñoles from 1973 to 1991 and then by Monarca, from 1993 to 2001. In 2001 the mine closed due to the then prevailing low silver prices.

QA/QC

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 Silver 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 being transported to a preparation facility in San Luis de Potosi, Mexico. The entire half-core is crushed and two kilograms is pulverized and homogenized. 150-gram pulp samples are then air freighted to OMAC’s analytical laboratory in Ireland for analysis. Systematic assaying of duplicates is performed for precision and accuracy, with check assays regularly conducted by OMAC. Each sample has its own unique sample number. The laboratories in San Luis Potosi, Mexico and Ireland 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.

The OMAC and ALS Chemex laboratories are independent of Arian Silver.

The samples were analysed for 32 elements by ICP (inductively coupled plasma), proceeded by an Aqua Regia acid digestion. High-grade samples (gold >3 g/t and silver >200g/t) are 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 15 August 2008, and entitled “Resource Estimation Update for the San Jose silver-lead-zinc deposit, 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 Silver, 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:

Arian Silver Corporation
Jim Williams - CEO
(London) +44 (0)207 529 7511
email: jwilliams@ariansilver.com

Bishopsgate Communications Limited
Nick Rome
(London) +44 (0)207 562 3350
email: Nick.Rome@bishopsgatecommunications.com

Vicarage Capital Limited
Martin Wood
(London) +44 (0)207 060 1303
email: martin@vicaragecapital.com

Grant Thornton Corporate Finance
Gerry Beaney
(London) +44 (0)207 385 5100
email: gerry.d.beaney@gtuk.com

CHF Investor Relations
Alison Tullis
(Toronto) +1 416 868 1079 Ext. 233
email: alison@chfir.com

About the Company

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 Silver is active in Mexico, the world’s second largest silver producing country. The Company’s main projects are the Calicanto and San Jose projects in Zacatecas State and the Tepal project in Michoacán State. Part of Arian Silver’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 NI 43-101 compliant resources.

Further information can be found by visiting Arian Silver’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, the mineral resource estimates referred to in this press release and 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, failure to establish estimated mineral resources, 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.


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