June 27th, 2011
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, today announced a progress update on its San José exploration.
Highlights:Commenting on today’s operations update, Arian’s Chief Executive Officer, Jim Williams, said:
- Phase-3 drill programme completed and all assay results received;
- Multiple high-grade silver intercepts on the San José Vein west of the village of Guanajuatillo, including one intercept totaling more than 20 metres true width;
- Mineralisation remains completely open along the western strike and to depth;
- Phase-4 drill programme started; and
- Independent resource estimate update currently in progress.
“The drill results announced today not only show continuity of vein thickness and grade as we explore west along the San José Vein but also show several wide high-grade silver and base metal intercepts. These results complete our Phase-3 drilling programme and will be incorporated into the independent resource estimate that is currently in process. We have now started a Phase-4 drill programme with the main aim to drill in detail the entirety of the San José Vein on our concession and as well as additional previously defined targets that are parallel and sub-parallel to the main vein structure.”
Drilling continues with the recently started Phase-4 programme for which 40 drill holes are currently planned. The Phase-3 drill programme, which was completed after drilling a total of 10,224 metres for 44 holes was concentrated in the areas between Solidad and Santa Ana (8 holes) and east and then west of the village of Guanajuatillo (36 holes). This programme, which was concluded some two kilometres east of the western boundary of the concession, confirms the continuation of silver (Ag), lead (Pb) and zinc (Zn) mineralization in a westerly direction. Selected intercepts to note from the final batch of the Phase-3 drilling include:
- Hole GW-11-019 comprising 4.81 metres with 334 g/t Ag.
- Hole GW-11-029 comprising 2.27 metres with 319 g/t Ag.
- Hole GW-11-032 comprising multiple intercepts including:
- 6.91 metres with 251 g/t Ag;
- 6.26 metres with 625 g/t Ag, 2.50% Pb and 3.25% Zn; and
- 9.24 metres with 349 g/t Ag, 5.58% Pb and 12.40% Zn.
- Hole GW-11-034 comprising multiple intercepts including:
- 3.93 metres with 338 g/t Ag;
- 2.09 metres with 625 g/t Ag; and
- 3.93 metres with 283 g/t Ag.
- Hole GW-11-036 comprising 1.22 metres with 224 g/t Ag, 5.60% Pb and 2.63% Zn.
A plan map showing the location of the latest drill holes along the San José Vein can be found via the following link:
Currently, Phase-4 drilling is concentrating west of the previous drilling and will comprise a combination of step-out and in-fill drilling. Further in-fill drilling is planned to the east of the village of Guanajuantillo and also on parallel and sub-parallel vein-hosted mineralisation.
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.
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.
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 drilling programme at San José and a revised resource calculation) 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
Arian Silver Corporation
(London) +44 (0)20 7887 6599
Grant Thornton Corporate Finance
(London) +44 (0)20 7383 5100
XCAP Securities PLC
John Grant / Karen Kelly
(London) +44 (0)20 7101 7070
John.Grant@xcapgroup.com / Karen.Kelly@xcapgroup.com
Yellow Jersey PR Limited
(London) +44 (0)7768 537 739
CHF Investor Relations
(Canada) +1 416 868 1079 x 237
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) and no stock exchange, securities commission or other regulatory authority accepts responsibility for the adequacy or accuracy of this release nor approved or disapproved of the information contained herein.