Trading
Symbols
AIM: AGQ
TSX-V: AGQ
“PLUS”:
AGQ
FWB: I3A
13 November 2007
Arian
Silver announces Tepal drilling results
Highlights
- Drilling Intercepts > 100 metres grading
1.32 g/t gold
- Confirmation of Extensions of
‘North’ and ‘South’ Zones
- Discovery of new mineralised
zone between ‘North’ and ‘South’ Zones
- Phase-1 Drilling Extended to 6,000 metres
- Additional Copper assay
results due shortly
Arian
Silver Corporation ("Arian" or the
"Company") is pleased to announce the latest results from its current
drilling program at the Tepal property. To-date 26 drill holes totalling 4,000 metres (m) have
been completed. Drilling has encountered long intercepts of significant
gold-copper mineralization below and along strike from the previously
demarcated historic resource areas. The results indicate that the historical
resource estimates defined by Hecla, Teck Cominco and Inco may have
significantly underestimated the potential of the Tepal project.
Eleven
holes were drilled into the ‘North’ and ‘South’ Zones
and have confirmed the historical drill-hole data of Inco, Hecla and Teck
Cominco. In addition, Arian has drilled a number of holes deeper than those
previously drilled by Inco, Hecla and Teck Cominco. These holes have confirmed
the existence of gold-copper mineralization to a depth of 250.5m. Hole
AS-07-007, drilled in the ‘South’ Zone, was terminated at a depth
of 250.5m. The final 6.5m of this drill-hole encountered mineralisation grading
0.45 g/t gold and 0.21% copper, indicating that the mineralization is open to
depth. Hole AS-07-004 was drilled into the ‘North’ Zone and
intersected 187m grading 0.86 g/t gold including a higher-grade portion of 101m
grading 1.32 g/t gold.
Plans
of both the ‘North’ Zone and ‘South’ Zone areas, which
have been the focus of most of the previous exploration and all of
Arian’s current work, can be viewed in the following two links.
http://www.ccnmatthews.com/docs/TepalNorthZone.pdf
http://www.ccnmatthews.com/docs/TepalSouthZone.pdf
The
following table sets out selected drill results from the Phase-1 drill
programme.
Hole
ID.
|
From
(m)
|
To
(m)
|
Core
length (m)
|
Gold
(g/t)
|
Copper
(%)
|
AS-07-0011
|
5
|
58
|
53
|
0.378
|
0.29
|
AS-07-002
|
No
Significant Results
|
AS-07-003
|
2
|
8
|
6
|
0.28
|
0.02
|
AS-07-0041
|
1
|
188
|
187
|
0.86
|
Pending
|
Inc.
|
11
|
112
|
101
|
1.32
|
Pending
|
Inc.
|
48
|
70
|
22
|
2.17
|
0.66
|
AS-07-0052
|
0
|
100
|
100
|
0.75
|
0.30
|
AS-07-0061
|
0
|
184
|
184
|
0.78
|
Pending
|
Inc.
|
0
|
90
|
90
|
1.14
|
Pending
|
AS-07-0072
|
0
|
250.5
|
250.5
|
0.53
|
0.22
|
Inc.
|
64
|
100
|
36
|
1.01
|
0.37
|
Inc.
|
120
|
150
|
30
|
0.84
|
0.26
|
Inc.
|
244
|
250.5
|
6.5
|
0.45
|
0.21
|
AS-07-008
|
6
|
136
|
130
|
0.33
|
0.25
|
Inc.
|
86
|
136
|
50
|
0.45
|
0.33
|
AS-07-0092
|
0
|
150.7
|
150.7
|
0.38
|
0.30
|
Inc.
|
86
|
136
|
50
|
0.45
|
0.33
|
Inc.
|
12
|
70
|
58
|
0.32
|
0.48
|
AS-07-010
|
0
|
60
|
60
|
0.25
|
0.36
|
Inc.
|
14
|
26
|
12
|
0.46
|
1.00
|
AS-07-011
|
No
Significant Results
|
AS-07-012A1
|
36
|
154
|
118
|
0.32
|
0.12
|
AS-07-0132
|
50
|
185.8
|
135.8
|
0.48
|
0.17
|
AS-07-0152
|
0
|
180.45
|
180.45
|
0.74
|
0.19
|
Inc.
|
36
|
80
|
44
|
1.31
|
0.37
|
AS-07-017
|
164
|
176
|
12
|
0.32
|
0.22
|
1Hole with
pending copper assay data
2Initial
gold results reported in 8 August 2007 press release.
Drill-holes
012 and 008 were “wildcat” exploratory holes drilled in the
southern extension of the ‘North’ Zone. Hole 008 was drilled to
test a 1,000m-long geochemical anomaly that connects the ‘North’
Zone with the ‘South’ Zone. This hole intersected a wide zone of
gold-copper mineralization that may indicate there is significant
mineralization in this area between the ‘North’ and
‘South’ Zones.
Drill-holes
009 and 011 were positioned to explore the area southeast of the
‘South’ Zone. Drill-hole 009 intersected a significant zone of
gold-copper mineralization, including some narrow zones of higher-grade copper
mineralization. Drill-hole 011 was not drilled to a sufficient depth to
intersect this mineralization and Arian is planning to extend this hole.
Drill-holes
013 and 017 were drilled to explore an area to the northwest of the
‘South’ Zone. Both holes intersected gold-copper mineralization,
with drill-hole 013 intersecting 135.8m grading 0.48 g/t gold and 0.17% copper,
indicating good potential to expand the ‘South’ Zone historic
resources.
Arian's
Chief Executive Officer, Jim Williams,
said, "These new results are very
encouraging. Our drilling has indicated the existence of significant
mineralization beyond the historic resource areas. Of particular interest is
the discovery of a potential ‘connector’ zone between the
‘North’ and ‘South’ zones. We are proving that the
Tepal Project has the potential to contain significant resources of gold and
copper and that our systematic approach is identifying new areas of mineralization.
In view of the results to-date we have decided to extend the Phase-1 drilling
programme to 6,000
metres. We anticipate being in a position to release
additional copper assay results from recent drilling in the near future"
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 ALS Chemex’s sample preparation
facility in Guadalajara, Mexico. The entire half-core is
crushed and two kilograms is pulverized and homogenized. 150-gram pulp samples
are then freighted to ALS Chemex’s analytical laboratory in Vancouver, British
Columbia for analysis. Systematic assaying of
duplicates is performed for precision and accuracy; check assays are regularly
conducted by ALS Chemex. Each sample has its own unique sample number.
Approximately 5% of the analysed samples are re-sampled and sent to the
Inspectorate preparation facility in Durango,
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
transported to Inspectorate’s analytical laboratories in Reno, Nevada,
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
|
Keith
Schaefer / Paul Lathigee
Vanguard
Shareholder Solutions
+1
(604) 608 0824 Toll free: 1866 898 0825
|
Maxine
Barnes / Nick Rome
Bishopsgate
Communications Ltd.
+44
(0)207 562 3350
|
|
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 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 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.
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.