September 11th, 2007
- More Bonanza-Grade Silver encountered at San Jose Property
- New discovery of a massive disseminated silver zone at San Jose
- Phase-1 Drill programme extended to 7,500 metres at San Jose
Arian Silver Corporation (“Arian” or the “Company”) is pleased to announce the latest results from its exploration programme at the San Jose property concessions in Zacatecas State, Mexico. The current underground exploration programme and surface diamond drilling programme is designed to systematically evaluate the old mines and prospects that were developed on the San Jose vein system.
(weighted average intercepts and grades)
New discovery of disseminated silver mineralization
Bonanza silver grades found:
- 28 metres @ 128 g/t Ag, 0.6% Zn and 0.2% Pb
- 39.3 metres @ 121 g/t Ag and 0.24% Zn
- 27 metres @ 122.5 g/t Ag
High-grade lead and zinc encountered
- 0.8 metres @ 1,438 g/t Ag, 0.3% Zn and 0.3% Pb
- 0.8 metres @ 1,038.8 g/t Ag, 1.36% Pb and 1.64% Zn
- 1.1 meters @ 10.1% Zn and 167.6 g/t Ag
- 0.8 meters @ 15.6% Pb, 1.93% Zn and 26.5 g/t Ag
Underground sampling has revealed a new discovery at San Jose where bonanza-grade silver and base-metal veins have been encountered within a much wider zone of disseminated silver mineralization. Arian believes that if further results from this zone prove consistent with current results then there is the potential for bulk exploitation of this wider disseminated mineralization.
The assay results are from samples taken from the 40m level in the Santa Ana Mine that is located some 800m west of the San Jose Mine head-frame. Chip and channel samples were taken every two metres along the roof and sides of the old workings to determine the width and grade of the San Jose vein system in this area. A total of 455 samples were taken from the 40m level. Table 1 below sets out the composite assay results.
The old mine workings of the Santa Ana Mine explored the San Jose Vein system to a depth of 120m and Arian believes that there are potentially significant amounts of mineralized material located within these workings. Historic mine maps, recently acquired from Peñoles, show a number of historic reserve blocks within the Santa Ana Mine workings. The data relating to these blocks is currently not Canadian National Instrument (NI) 43-101 compliant. However, the work being undertaken by Arian is providing modern and systematic exploration data with the aim of developing an initial NI 43-101 complaint resource for these areas by the end of 2007.
Arian’s CEO, Jim Williams, stated, “Arian’s on-going exploration programme at the San Jose property is proving very encouraging. So far we have found two main types of silver-zinc-lead mineralisation; firstly, that associated with the main San Jose vein system and, secondly, that associated with the recently discovered much wider zone of disseminated mineralization. In view of these latest results we have decided to extend the diamond drilling element of our Phase-1 exploration programme at San Jose from 5,000m to 7,500m. We are currently more than 75% of the way through this extended drilling programme and remain on course to produce an initial NI 43-101 compliant resource by the end of 2007. I would add that if further exploration results from the newly discovered wider zone of disseminated mineralization prove to be consistent, this project may have the potential to be amenable to open-pit mining.”
All technical information for the San Jose project is obtained and reported under a formal quality assurance and quality control (QA/QC) programme. The chip and channel samples are transported to Inspectorate’s sample preparation facility in Durango, Mexico, where they are 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. Inspectorate’s laboratories in Durango, Mexico and Reno, Nevada 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.
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 property 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 José Project, Zacatecas, Mexico”.
Mr. Jim Williams, Eur Ing, Eur Geol, BSc, 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).
Table 1: Selected assay results from the Santa Ana 40m Level
|Sample Name||Width (m)||Ag (g/t)||Cu (%)||Pb (%)||Zn (%)||Au (g/t)|
For further information please contact:
Jim Williams - CEO
Arian Silver Corporation
+44 (0)20 7529 7511
+44 (0)20 7851 7480
Grant Thornton Corporate Finance
+44 (0)20 7385 5100
Daniel Brooks / Tom Beattie
Haywood Securities (UK) Limited
+44 (0)20 7031 8000
Vanguard Shareholder Solutions
+1 (604) 608 0824
Toll free: 1866 898 0825
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 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 Michoacán State. Part of Arian’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 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.
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.
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, the estimation of mineral resources, 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.