On behalf of Jim
Williams CEO of Arian Silver
Corporation, please see latest news release below;
Trading
Symbols
AIM:
AGQ
TSX-V:
AGQ
“PLUS”:
AGQ
FWB:
I3A
3 March 2008
Initial
NI 43-101 Resource Calculation at San
Jose
- 27.7 Million Oz of Silver
- 147.5 Million lbs of Zinc
- Initial resource estimate from only 50% of the
drill-holes completed to date, exploring only 1.6 km of the estimated 12
plus km strike length of the San
Jose Vein System
- Final resource calculation to follow once Phase-1
drilling programme is completed
- Phase-1 programme will aggregate 12,000 m of drilling
and will cover a 4km section of the San
Jose structure
Arian Silver
Corporation (“Arian” or the “Company”) is
pleased to announce its initial Canadian National Instrument (NI) 43-101
mineral resource estimate for the San Jose
property, located in Zacatecas State,
Mexico. The
resource estimation has been prepared by independent consultants, A.C.A. Howe
International Limited.
This initial resource estimate of
27.7 million ounces (oz) of silver, 64.6 million pounds (lbs) of lead and 147.5
million lbs of zinc, in the inferred mineral resource category, is from 31
holes drilled to an aggregate length of 4,500 metres (m) and is contained
within four currently defined resource blocks along 4 km of the strike of the
San Jose Vein (SJV). These blocks currently cover an aggregate strike length of
some 1,600 m within the 4 km strike length and extend to a depth of 200
m. The percentage of oxide, transitional and primary material is
undefined as part of these preliminary “inferred”
estimations. The “inferred” resource blocks are summarised in
the table below and a plan showing the location of the resources in relation to
the strike of the SJV is shown in the following link.
http://media3.marketwire.com/docs/agqmap2.pdf
�San
Jose Inferred Mineral Resource Estimates
|
|
Grade
|
Contained
Metal
|
Zone
|
Tonnes
|
Ag
|
Pb
|
Zn
|
Ag
|
Pb
|
Zn
|
|
(‘000)
|
g/t
|
%
|
%
|
(M
oz )
|
(M
lbs)
|
(M
lbs)
|
Block 450
|
3,592
|
100.9
|
0.09
|
0.26
|
11.7
|
7.1
|
20.6
|
Santa
Ana
|
2,823
|
103.8
|
0.44
|
1.17
|
9.4
|
27.4
|
72.8
|
Solidad
|
1,659
|
108.5
|
0.78
|
1.42
|
5.8
|
28.5
|
51.9
|
Guanajuatillo
|
282
|
85.4
|
0.25
|
0.36
|
0.8
|
1.6
|
2.2
|
|
8,356
|
102.8
|
0.35
|
0.8
|
27.7
|
64.6
|
147.5
|
1. Cut-off grade of 0 g/t Ag
2. Ag = Silver. Pb = Lead. Zn = Zinc.
3. The mineral resource estimates are in accordance with CIM and JORC
standards
4. The effective date of the mineral resource estimates is 26 February
2008
5. The estimates are based on geostatistical data assessment and
preliminary computerised
������� IDW3, Ag grade
wireframe restricted, linear block modelling
�
Results from a further 34 holes
sited within or with close proximity to the zones currently delineated by this estimate
are not included in this resource statement as the results were not available
for the database modelling cut-off date in mid-December 2007. The results from
these holes, together with holes from the on-going Phase-1 drilling, will be
reported and modelled for an updated resource statement in due course.
The area covered by this initial
resource statement represents only approximately 30% of the known strike length
of the SJV within the concessions controlled by Arian. In relation to this
section of the strike length, the areas in between the four resource blocks are
not yet linked together with sufficient data points to form a minimum compliant
(“Inferred”) resource for the enlarged area. However, drilling is
currently underway to complete this in-fill linking to expand the current
resource along at least a contiguous 4 km strike length within the 12 plus km
strike length of the SJV. Arian is scheduling a Phase-2 drill programme
to commence very soon to follow on the encouraging results obtained to date.
This programme will be designed to both further infill drill areas between the
currently defined resource blocks of the SJV and in addition to drill further
along strike in both a westerly and easterly direction. Parallel and
sub-parallel vein structures mapped using modern-day systematic techniques such
as LandSAT Imaging, aerial mapping and geophysics will be also targeted.
Arian’s
Chief Executive Officer, Jim Williams,
stated, “We are very pleased with these initial compliant resources we
have so far estimated at San Jose.
These resource estimates are only based on approximately 50% of the drill-holes
that we have currently drilled at San Jose and therefore only cover a portion
within a strike length along the main SJV of some 4 km (out of 12 plus km). We
believe we can expand these resources significantly during 2008.”
Arian
Silver Mexico S.A. de C.V., a wholly owned
subsidiary of the Company, holds a 100% exclusive option to acquire the San
Jose Project. The Project concessions include the past producing San Jose Mine,
which was operated by a subsidiary of Penol�s from 1973 to 1991 and then by
Monarca, which operated the mine between 1993 and 2001. In 2001 the mine closed
due to the then prevailing low silver prices.
All technical information for the
San Jose 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 being
transported to 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 air
freighted to Inspectorate's analytical laboratory in Reno, Nevada
for analysis. Systematic assaying of duplicates is performed for precision and
accuracy, with check assays 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), proceeded by a three acid
digestion. High-grade samples (gold >3 g/t and silver >200g/t) were
re-analysed by fire assay with a gravimetric finish.
Additional information with respect
to the San Jose Project 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”.
A copy of this report can be obtained from SEDAR at www.sedar.com
The “qualified person”,
as such term is defined in NI 43-101, who prepared the mineral resource
estimates disclosed in this press release, is Mr James Hogg. Mr Hogg is an
employee of A.C.A. Howe International Limited and is a member of Australian
Institute of Geoscientists and Prospectors and Developers Association of
Canada. Mr Hogg has reviewed and approved the contents of this press release.
For further information please contact:
Company Name
|
Contact Name
|
Telephone Number
|
Arian Silver
Corporation
|
Jim Williams
-CEO
|
+44 (0)207 529 7511 (London)
|
Bishopsgate
Communications Limited
|
Nick Rome
|
+44 (0)207 562 3350 (London)
|
Vicarage
Capital Limited
|
Martin Wood
|
+44 (0)207 060 1303 (London)
|
Grant Thornton
Corporate Finance
|
Gerry Beaney |
+44 (0)207 385 5100 (London) |
Vanguard
Shareholders Solutions
|
Keith Schaefer |
+1
(604) 608 0824 (Canada)
Toll Free: 1866 898 0825 (US & Canada)
|
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, the mineral resource
estimates disclosed in this press release and statements regarding exploration
results, 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, failure to establish estimated mineral resources, 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.
The mineral
resource figures disclosed in this press release are estimates and no
assurances can be given that the indicated levels of minerals will be
produced. Such estimates are expressions of judgment based on knowledge,
mining experience, analysis of drilling results and industry practices.
Valid estimates made at a given time may significantly change when new
information becomes available. While the Company believes that the
resource estimates included in this press release are well established, by
their nature resource estimates are imprecise and depend, to a certain extent,
upon statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or are reduced in the
future, this could have a material adverse impact on the Company.
Mineral resources
are not mineral reserves and do not have demonstrated economic viability.
There is no certainty that mineral resources can be upgraded to mineral
reserves through continued exploration.