On behalf or Jim Williams,
CEO of Arian Silver Corporation,
please see latest press release below;
Trading
Symbols
AIM:
AGQ
TSX-V:
AGQ
??PLUS??:
AGQ
FWB: I3A
8 August 2007
Arian Silver
Reports Initial Drill Results at Tepal and
Confirms Historic Gold Grade and Thickness
Highlights
-
Initial drill intercepts
??
116m at 0..88 grammes/tonne
(g/t) gold
??
250m at 0..53 g/t gold
-
Confirmation of historic
gold grades and thickness
-
75% of Phase-1, 3,000
metre drill programme completed
-
Wide zones of
mineralisation encountered
Arian Silver Corporation (??Arian?? or the
??Company??) is pleased to announce selected results for the first 5
holes of its planned phase-1 3,000 metre diamond drill programme at the Tepal Project.
The selected results for the first 5 holes are outlined below with further
results anticipated shortly. To date, only the gold values have been received
and the results for silver, copper and other metals are expected shortly.
The remaining results will be reported as soon as they
become available.
Arian's Chief Executive Officer, Jim
Williams, said, ??These
results are very encouraging as they not only confirm the historic gold (Au)
grade but exceed the reported grade on twinned holes by approximately 5%. In
some cases we have also continued twinned holes to a greater depth as the
previous holes were terminated in mineralisation, which has increased the total
length of the mineralised intercepts. We have also drilled some new holes
outside the know areas of mineralisation as we believe that these new areas
have excellent potential.??
HoleID
|
From (m)
|
To (m)
|
Core length (m)
|
Gold g/t
|
AS-07-005+
|
0
|
100
|
100
|
0.753
|
inc.
|
0
|
36
|
36
|
0.908
|
inc.
|
60
|
100
|
40
|
0.85
|
AS-07-007+
|
0
|
250
|
250
|
0.531
|
inc.
|
64
|
100
|
36
|
1.01
|
inc.
|
78
|
94
|
16
|
1.345
|
inc.
|
120
|
150
|
30
|
0.873
|
inc.
|
188
|
218
|
30
|
0.611
|
inc.
|
244
|
250
|
6
|
0.45
|
AS-07-009
|
106
|
150
|
44
|
0.377
|
inc.
|
106
|
134
|
28
|
0.45
|
inc.
|
122
|
130
|
8
|
0.53
|
AS-07-013*+
|
50
|
88
|
38
|
0.41
|
inc.
|
74
|
88
|
14
|
0.67
|
AS-07-015*+
|
0
|
116
|
116
|
0.88
|
inc.
|
36
|
80
|
44
|
1.31
|
*Note: For hole 013 results are pending from 88m to 250m.
For hole 015 results are pending from 116m to 180m. These results are expected from
the laboratory shortly.
+Twin hole of an earlier drill-hole.
AS-07-005 is a twin of hole MHT-3 drilled by Hecla, 007 is a twin of hole T-25,
013 is a twin of hole T-16, and 015 is a twin of hole T-18. T-16, T-18 and T-25
were all drilled by Teck.
The Tepal Project comprises six exploration concessions
covering some 14,000 hectares. Initial investigation of existing data by Arian
indicates that the Tepal Project consists of four gossanous poly-metallic
deposits containing copper, gold and silver mineralisation, with potential for
additional areas of mineralisation.
The Project was previously explored
in the 1970s and the 1990s by a number of companies including INCO, Teck and
Hecla. A historical resource estimate indicates 78.82 million tonnes of
mineralisation grading 0.5 grammes/tonne gold (Au) and 0.25% copper (Cu),
equating to 1.23 million contained ounces of gold and 432.63 million contained
pounds of copper. The historical data also indicates that there are potentially
higher-grade zones within these mineralised zones.
The Project was initially explored
in the early 1970s by INCO who identified the area as having potential to host
a porphyry copper-gold deposit. INCO drilled 21 diamond drill holes, totalling
3,247m and identified significant mineralisation at the North Zone.
In 1992, Teck acquired the Project,
drilled an additional 50 Reverse Circulation (??RC??) holes, totaling
8,168m, and discovered a second area of mineralization at the South Zone.
Spacing between drill holes was typically 50 or 100 metres. In 1994 Teck
completed a resource estimate of 78.82 million tonnes grading 0.5 g/t Au and
0.25% Cu. However, Teck only assayed for gold and copper. Teck used
polygonal block estimates to calculate its resource estimate.. Intercept
intervals were based on combined gold and copper values calculated to a dollar
value equivalent using gold at US$375/oz and copper at US$0.80/lb. Two cut-off
values, > $4/ton and ?? $8/ton over a minimum of 6.0 m were used. A
specific gravity of 2.6 g/cm3 was used.
Subsequently Hecla owned the Project.
Hecla collected nearly 900 rock chip samples on a 50m by 50m grid, re-analysed
298 pulps from the Teck RC drilling program and drilled a further 17 RC holes, totalling
1,506m. Hecla??s focus was exclusively on gold potential. In 1997, Hecla
estimated a total historic resource of 9.063 million tonnes averaging 0.90 g/t
Au containing 262,359 ounces of gold. However, Hecla used a specific gravity of 2.2 g/cm3,
which is substantially lower than the 2.6 g/cm3 used by Teck. Hecla
used polygonal block estimates to
calculate its resource estimate, using drill sections constructed at intervals
ranging from 50 m to 90 m. Cut-off grades of 0.5 g/t Au and 0.30 % Cu were
used in the estimate although there is no copper resource in the Hecla
material.
Results of the historic resource estimates completed by Teck and
Hecla are tabulated at the end of this press release.
The historical resource estimates for the
Tepal Project referred to in this press release are included purely to indicate
the results of past exploration on the Project, and are relevant to the extent
that they indicate the presence of polymetallic mineralisation. The historical
resource estimates are not compliant with Canadian National Instrument 43-101
(??NI 43-101??), and therefore should not be relied upon. The Company
has not done sufficient work to classify the historical resource estimates as
current mineral resources as defined in section 1.2 of NI 43-101 and are not
treating them as such.
All technical information for the Tepal 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 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 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 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. Gold was
analysed by fire assay with an atomic absorption finish. High-grade samples
(gold >3 g/t and silver >100 g/t) were re-analysed by a fire assay with a
gravimetric finish.
Additional information with respect to the Tepal Project is
contained in the technical report prepared by A.C.A. Howe International
Limited, which is dated September 18, 2006 and entitled ??Technical Report
on the Tepal Project, Michoacan,
Mexico??.
A copy of the report can be obtained from Sedar at www.sedar.com
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.
Tabulation of Historic Resource
Estimates
Table
1. Summary of the Historic Teck Resource Estimate.
ZONE
|
CATEGORY
|
TONNES (000)
|
Au (g/t)
|
Cu (%)
|
South
|
Drill
Indicated
|
24,275
|
0.546
|
0.251
|
|
Drill
Inferred
|
1,911
|
0.575
|
0.219
|
|
Projected
|
4,366
|
0.430
|
0.209
|
Sub-total
|
|
30,552
|
0.532
|
0.242
|
|
North
|
Drill
Indicated
|
31,566
|
0.489
|
0.269
|
|
Drill
Inferred
|
1,871
|
0.468
|
0.212
|
|
Projected
|
14,833
|
0.377
|
0.224
|
Sub-total
|
|
48,270
|
0.456
|
0.254
|
|
South
and
North
|
Drill
Indicated
|
55,841
|
0.514
|
0.261
|
|
Drill
Inferred
|
3,782
|
0.522
|
0.216
|
|
Projected
|
19,199
|
0.389
|
0.220
|
TOTAL
|
|
78,822
|
0.484
|
0.249
|
The Company believes that the above categories defined by
Teck are based on different criteria and therefore different levels of
confidence as compared to the resource categories set out in the CIM Definition
Standards on Mineral Resources and Minerals Reserves contemplated by NI 43-101.
However, the ??Drill Indicated?? category equates to the CIM
??Indicated?? category and the ??Drill Inferred?? category
equates to the CIM ??Inferred?? category. In the Company??s
opinion, the historic ??Projected?? category as defined by Teck would
not meet the required criteria of current CIM guidelines on mineral resources.
Table 2. Hecla
Historic Resource Estimate.
OXIDE RESOURCE
|
ZONE
|
TONNES (000)
|
Au (g/t)
|
CONTAINED GRAMS
|
CONTAINED OUNCES
|
North
|
1,369
|
0.93
|
1,269,299
|
40,809
|
South
|
729
|
0.95
|
696,490
|
22,393
|
Sub-total
|
2,098
|
0.94
|
1,965,789
|
63,202
|
SULPHIDE RESOURCE
|
North
|
4,186
|
0.94
|
3,705,685
|
119,141
|
South
|
2,779
|
0.90
|
2,488,808
|
80,017
|
Sub-total
|
6,965
|
0.89
|
6,194,493
|
199,158
|
TOTAL
|
9,063
|
0.90
|
8,160,282
|
262,359
|
In the Hecla material in Arian??s
possession, there is no information on sub-categorisation of the mineral
resource estimate as compared to the resource categories set out in the CIM
Definition Standards on Mineral Resources and Minerals Reserves contemplated by
NI 43-101.
For the reasons stated above, the
historical resource estimates should not be treated as current resources as
defined in Section 1.2 of NI 43-101 and should not be relied upon as such. Any
future mineral resource estimates for the Tepal Project may be materially
different than the historical estimates referred to in this press release.
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, the
estimation of mineral resources, potential mineralization, potential mineral
resources, 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.
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