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Arian Silver Reports Further Encouraging Exploration
Progress at
San Jose
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Arian Silver Corporation ("Arian" or the "Company")
(TSXV: AGQ) (AIM: AGQ) (FRANKFURT: I3A), a silver
exploration,
development and production company
with a focus on projects in
the
silver belt of Mexico, today announced further encouraging results from
the Company's Phase 4 exploration drilling
programme together with the
completion of a geophysical
induced polarisation ("IP") survey at its
100% owned San Jos� Property
("San Jos�"), located in Zacatecas State,
Mexico.
Highlights:
.. 36 drill holes for 9,400 metres ("m") completed so far;
.. Multiple high-grade silver intercepts with step-out and infill
drilling along the San Jos�
Vein ("SJV");
.. IP survey completed
on the western end of the SJV; and
.. Resource estimate update anticipated following completion of Phase 4
drilling.
These results continue to
support the large scale resource
potential
along the SJV indicated by
the initial 24 holes of the Phase 4 drill
programme announced on 24 October
2011.
Drilling Update
The Phase 4 drilling programme, which
is nearing completion, is for up
to 40 drill holes totalling
10,000m comprising both step-out and
in-fill drilling along the extensive strike length of the SJV. The
strategy is to identify additional resources and to upgrade the current
resources by both size and category.
Selected intercepts from the current drilling include:
.. Hole GW-11-048 comprising
multiple intercepts, including
6.97m* with
259 g/t Ag, and 2.59m* with 270 g/t Ag, and 2.59m* with 230 g/t Ag;
.. Hole GW-11-052 comprising
4.33m* with 183 g/t Ag, and 4.63m* with 253
g/t Ag;
* representing true thicknesses.
Geophysical IP Survey
During November and December 2011 an IP geophysical survey was
completed with a view to interpretation of the displacement of the SJV
due to the effects of a significant regional fault system which cuts
across the western portion of the SJV, some 1.5 km east of the western
boundary of the concession. The survey
comprised seven parallel lines,
200m apart, for a total of 12.5 km and successfully identified these
areas of vein displacements.
These areas are now being drilled which
will conclude the Phase 4 drilling programme.
Commenting on today's
exploration update, Arian's President
and Chief
Executive Officer, Jim Williams,
said:
"These most recent drill results show continuity of vein thickness,
silver mineralization and
grade as we drill along the
SJV. Now that the
geophysical survey has been
completed and indicates where the SJV has
been displaced, we can now drill these
new target areas as part of this
current phase of drilling before completing the Phase 4
programme. Once
this current phase of drilling has finished we shall be
working on an
updated independent resource estimate, and we continue to believe the
San Jos� Project has considerable potential
upside to offer."
A schematic plan showing
the location of the updated drilling
and the
area covered by the IP geophysical
survey in relation to the SJV strike
is available at the following link:
http://www.ariansilver.com/i/pdf/120116dht-Phase_4_Plan_Update.pdf
A complete list of all the latest assay results
can be obtained
via the
following link:
http://www.ariansilver.com/i/pdf/120116dht-Intersecciones_con_ensayes.
pdf
Resource Recap
At San Jos�, Arian has already
reported significant NI
43-101 compliant
Indicated and Inferred resources of:
.. Indicated comprising
8 million ("M") tonnes ("t") containing
approximately 30 M ounces
("oz") of silver ("Ag"), 70 M
pounds ("lbs")
of lead ("Pb") and 127 Mlbs of zinc
("Zn"), and;
.. Inferred comprising 17
Mt containing approximately
58 Moz of Ag, 140
Mlbs of Pb and 291 Mlbs of
Zn.
These resources are detailed in the Company's news
release dated 20
July 2011. On completion of the Phase 4 drilling a further resource
update will be reported.
Forward Looking Strategy
The Company, as previously reported, has commenced small-scale
production using contract mining and toll milling at San Jos� to
generate cash flow and to investigate the optimal processing
route for
an expanded operation in
due course. Arian's forward
looking strategy
continues to include the building up of additional NI 43-101 compliant
resources to support the eventual
use of larger-scale mechanized
mining
methods over wide mineralized structures that will result in reduced
unit operating costs.
QA/QC
All technical information for the San Jos� Project is obtained and
reported under a formal quality assurance and quality control (QA/QC)
programme. The core is logged and photographed by Arian's 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
labelled, bagged and secured
before transporting to
Stewart Group's sample preparation facility at
the San Jos� Project in Zacatecas, Mexico. Each sample has its own
unique sample number. The entire half-core is crushed to minus 10 mesh
and a half kilogram riffle
split is pulverized and homogenized to minus
200 mesh. The pulp samples are then moved to Stewart Group's analytical
laboratory at the San Jos�
Project for final analysis. Systematic
assaying of duplicates, blanks
and certified reference material is
performed for precision and
accuracy; quality procedures and processes
are continually reviewed
and monitored with protocols in place to deal
with any non-conformity. Stewart Group's laboratories in Zacatecas,
Mexico are ISO 9001:2000 accredited.
Approximately 5% of the analysed
samples are re-sampled and
sent to ALS
Chemex preparation facility in Guadalajara, Mexico. The samples
consist
of both coarse reject samples as well as pulp samples.
The coarse
material is crushed and pulverised according to the same protocol, and
the pulp samples are air freighted to ALS Chemex's analytical
laboratories in Vancouver, Canada, for analysis. Results from all
duplicate analyses are compared to identify potential analytical or
sampling errors.
Stewart Group and ALS Chemex Laboratories
are independent of Arian.
The samples were analysed for a multi element scan
by aqua regia
digestion and ICP (inductively coupled
plasma) finish. High-grade
samples (>200 g/t Ag) were
re-analysed by fire assay with a gravimetric
finish.
About the Company
Arian is a publicly quoted silver exploration, development and
production company, operating in one of the richest silver-bearing
districts in the world, Zacatecas State, Mexico. The Company
is
committed to mining in existing silver areas, and to exploring new
opportunities. Arian's main
project is San Jos�, in
Zacatecas State,
where we anticipate increasing production
in due course.
Arian Silver Corporation was
founded by Jim Williams (President
& CEO)
and Tony Williams (Chairman) and is listed on AIM, London, TSX Venture
Exchange, Toronto and on the Frankfurt Stock Exchange (as I3A). The
Company's headquarters are
in Berkeley Square, London.
Further information can be found by visiting
Arian's website:
www.ariansilver.com or the Company's publicly available records at
www.sedar.com.
Qualified Person
Mr Jim Williams, Eur Ing, Eur Geol, BSc,
MSc, D.I.C., FIMMM, the 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 such term is defined in Canadian National
Instrument 43-101 ("NI
43-101"). This news release has been prepared under Mr. Williams'
supervision. Mr. Williams has verified the data disclosed in this
release.
Forward-Looking Information
This news 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 relating
to the San Jos� Project with respect to
estimates of mineral resource quantities, mineral resource qualities,
the potential scope and context
of the mineralized area, the potential
for upgrading the mineral resource estimate and the Company's
exploration and drilling targets,
goals, objectives and plans) 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 significant risks and uncertainties and other
factors 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, but
are not limited to: failure
to establish estimated mineral resources,
the grade, quality and recovery
of mineral resources varying from
estimates, risks related to the exploration stage of the Company's
properties, the possibility
that future exploration results
will not be
consistent with the Company's
expectations (including identifying
additional and/or deeper mineralization), changes in the price
of
silver, changes in equity markets, political developments in Mexico,
uncertainties relating to
the availability and costs
of financing
needed in the future, changes to regulations
affecting the Company's
activities, delays in obtaining or failures to obtain required
regulatory approvals, the uncertainties involved in interpreting
drilling and exploration results
and other geological data
and other
factors (including
exploration, development and operating risks).
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 guaranteed
of future
performance and accordingly undue
reliance should not be put on such
statements due to the inherent
uncertainty therein.
Readers are reminded that mineral resources
are not mineral reserves
and have not demonstrated economic
viability. There is no certainty
that mineral resources can be
upgraded to mineral reserves through
continued exploration.
For further information please
contact:
London, United Kingdom
Arian Silver Corporation Jim Williams President & CEO +44(0)20 7887
6599
jwilliams@ariansilver.com
Arian Silver Corporation David Taylor Company Secretary +44(0)20 7887
6599
dtaylor@ariansilver.com
Grant Thornton Gerry Beaney
Head of Capital Markets +44(0)20 7383 5100
gerry.d.beaney@gtuk.com
XCAP Securities John Grant Head of Corporate Finance
+44(0)20 7101 7070
John.Grant@xcapgroup.com
Yellow Jersey PR Dominic Barretto Managing Director +44(0)7768 537 739
dominic@yellowjerseypr.com
Toronto, Canada
CHF Investor Relations Cathy Hume CEO +1 416 868 1073
x231
cathy@chfir.com
Neither the TSX Venture Exchange nor
its Regulation Services
Provider
(as that term is defined in the policies of the TSX Venture Exchange)
and no stock exchange, securities commission or other regulatory
authority accepts responsibility for the adequacy
or accuracy of this
release nor approved or disapproved of the information contained
herein.
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Copyright (c) 2012 ARIAN SILVER CORPORATION (AGQ) All rights
reserved.
For more information visit our
website at
http://www.ariansilver.com/
or send mailto:info@ariansilver.com
Message sent on Mon Jan 16, 2012 at 7:08:55 AM
Pacific Time
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