Trading
Symbols
AIM: AGQ
TSX-V: AGQ
“PLUS”:
AGQ
FWB: I3A
11 September 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
Highlights
(weighted average
intercepts and grades)
New
discovery of disseminated silver mineralization
�
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
Bonanza
silver grades found:
�
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
High-grade
lead and zinc encountered
�
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
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.
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 Pe�oles, 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 Jos� 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)
|
SA-40
|
2.2
|
464.4
|
0.1
|
2.0
|
3.0
|
0.249
|
SA-77
|
2.5
|
201.0
|
0.0
|
0.1
|
0.1
|
0.003
|
SA-82
|
27
|
122.5
|
0.0
|
0.0
|
0.1
|
0.001
|
inc.
|
0.8
|
490.9
|
0.0
|
0.1
|
0.3
|
0.000
|
SA-83
|
2.4
|
566.8
|
0.0
|
0.1
|
0.2
|
0.000
|
inc.
|
0.8
|
1,438.6
|
0.0
|
0.3
|
0.3
|
0.000
|
SA-84
|
2.9
|
247.2
|
0.0
|
0.0
|
0.1
|
0.000
|
SA-85
|
3.3
|
252.3
|
0.0
|
0.0
|
0.2
|
0.005
|
inc.
|
0.8
|
593.4
|
0.0
|
0.1
|
0.2
|
0.020
|
SA-87
|
1.9
|
560.0
|
0.0
|
0.1
|
0.3
|
0.000
|
SA-119
|
3.5
|
185.4
|
0.0
|
1.4
|
2.0
|
0.094
|
inc.
|
0.8
|
186.5
|
0.1
|
3.0
|
4.3
|
0.189
|
SA-120
|
3.3
|
328.3
|
0.1
|
2.4
|
3.1
|
0.116
|
inc.
|
0.8
|
376.9
|
0.1
|
3.5
|
1.6
|
0.250
|
SA-125
|
3.5
|
178.7
|
0.1
|
1.9
|
1.6
|
0.142
|
inc.
|
0.8
|
203.6
|
0.1
|
4.3
|
1.4
|
0.429
|
SA-126
|
4.2
|
173.6
|
0.0
|
1.0
|
2.6
|
0.108
|
inc.
|
0.7
|
337.9
|
0.0
|
1.1
|
1.4
|
0.079
|
SA-136
|
2.2
|
412.8
|
0.1
|
1.7
|
1.9
|
0.237
|
SA-137
|
3
|
157.5
|
0.0
|
2.6
|
4.6
|
0.182
|
inc.
|
0.7
|
144.5
|
0.1
|
4.0
|
6.4
|
0.185
|
SA-139
|
1.8
|
331.3
|
0.0
|
2.3
|
3.5
|
0.289
|
SA-142
|
1.5
|
178.8
|
0.0
|
1.2
|
2.0
|
0.059
|
SA-161
|
1.1
|
291.2
|
0.2
|
3.9
|
3.9
|
0.286
|
SA-162
|
2.1
|
280.1
|
0.2
|
3.6
|
1.8
|
0.206
|
SA-163
|
1.7
|
280.7
|
0.1
|
1.2
|
2.5
|
0.170
|
SA-164
|
1.9
|
215.3
|
0.2
|
1.8
|
4.6
|
0.247
|
SA-165
|
1.9
|
440.5
|
0.1
|
1.0
|
5.9
|
0.102
|
SA-166
|
1.4
|
318.9
|
0.1
|
0.8
|
3.6
|
0.078
|
SA-167
|
1.6
|
265.1
|
0.1
|
0.9
|
2.5
|
0.086
|
SA-168
|
1.7
|
490.6
|
0.1
|
0.7
|
2.4
|
0.080
|
SA-169
|
2
|
213.4
|
0.0
|
0.3
|
1.1
|
0.030
|
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)20 7385 5100
|
|
Daniel
Brooks / Tom Beattie
Haywood
Securities (UK)
Limited
+44 (0)20 7031 8000
|
|
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 Michoac�n 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.
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, 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.