Arian Silver Corporation (“Arian” or the “Company”), the Mexico focused AIM quoted resource exploration and development company, reports that it has received assay results from the recently completed auger drill programme on the lithium projects in Zacatecas over which an option is held. The drill programme was designed to test for increased lithium grades at depth at each of the three lithium projects.
In total, 28 auger holes were drilled in all three of the Company’s lithium projects to depths of up to 12.5 metres. The assay results indicate that the grades of lithium remain consistent across the project but did not demonstrate the required increased grades at deeper levels.
Jim Williams, Chief Executive of Arian, commented, “The absence of an increase in lithium grades at deeper levels means that we will now focus our attention on prospects elsewhere in the Zacatecas region of Mexico. Over the past few months, we have been reviewing other lithium exploration projects and will now be stepping up that activity. We will provide further updates on progress in due course.”
The vendor of the aforementioned projects, Comercializadora Gacu SA de CV (the “Vendor”), holds a portfolio of mining concessions, some of which the Company may seek to explore. Under the terms of the option agreement with the Vendor as announced on 11 April 2017 (the “Agreement”), to date, US$20,000 has been paid by Arian and no further amounts have fallen due. Arian may move to terminate the Agreement without further liability but is presently negotiating with the Vendor to potentially vary and extend the Agreement to encompass the additional mining concessions.
Full assay results are available at http://www.ariansilver.com/assets/docs/170928-drill-results.pdf.
Jim Williams, Eur Ing, Eur Geol, BSc, MSc, D.I.C., FIMMM, 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 such term is defined in Canadian National Instrument 43-101. This press release has been prepared under Mr Williams’ supervision and Mr Williams has verified the data disclosed by this release.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Arian Silver Corporation
Northland Capital Partners Limited
Beaufort Securities Limited
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