On behalf of Jim
Williams, CEO of Arian Silver Corporation, please find below
the latest press release on San Jose.
Click here for press release in pdf
format
Trading
Symbols
AIM:
AGQ
TSX-V:
AGQ
“PLUS”:
AGQ
FWB:
I3A
12 December 2007
SAN JOSE – PROGRESS UPDATE
Undergroundsampling reveals bonanza-grade silver areas
Highlights
- Underground sampling identifies bonanza-grade silver area of San Jose Vein
- Underground sampling results include 4.9m @ 1128 g/t
silver, 2.36% lead and 3.14% zinc
- Mineralisation remains open in multiple directions
- Drilling programme extended to 12,000 metres
- Magnitude of the San
Jose Vein has grown significantly
- Commencement of Canadian National Instrument 43-101 resource study
- Warrants exercised; increasing cash position
Arian Silver
Corporation (“Arian” or the “Company”) is
pleased to announce that it has completed the Phase-1 underground sampling
programme at the San Jose
property. The sampling programme has identified a number of bonanza-grade
silver areas that can be quickly accessed via the existing haulage ramp.
The Phase-1 sampling programme was
conducted concurrently with the surface drilling programme and focused on sampling
and surveying the historic mine workings as initial reconnaissance work had
identified the potential for these workings to contain a considerable tonnage
of mineralised material.
Additional assay data received from
further drill-holes in the central part of the San Jose Vein system, around the
Solidad Shaft, has emphasised the importance of the area.
In a press release dated 30th
October 2007, the Company announced the discovery of a zone of disseminated stockwork
silver mineralisation, not related to the San Jose Vein, at San Jose. This latest set of results further
highlights the potential for low-cost mechanised mining and the prospect of
achieving initial production by 2009.
Arian has now drilled in detail an
area of some 4 kilometres (km) west of the San Jose head-frame. In view of the extremely
encouraging results to-date, the drilling programme has been extended by 2,000
metres (m) to 12,000 m.
Drilling and
Sampling Results
The Company has now received the
initial results from the western-most drill-holes. These holes were drilled
2.8km west of the San Jose
head-frame. All of the holes intersected a quartz-calcite vein with high-grade
silver and base-metal values within a much wider (>30m wide in places) zone
of pervasive veining.
Tables 1 and 2 below illustrate
various intercepts for the drilling and the underground sampling.
Table 1: Selected
assay results from San Jose Phase-1 drilling – Western Target area.
Note: True widths
not calculated as vein orientation and dip is not known.
Drill-Hole
|
From (m)
|
To (m)
|
Core Length (m)
|
Silver (g/t)
|
Lead (%)
|
Zinc (%)
|
Gold (g/t)
|
SJ-07-009
|
64.5
|
74.75
|
10.25
|
79
|
0.13
|
0.19
|
0.02
|
inc.
|
64.5
|
65.95
|
1.45
|
155
|
0.05
|
0.22
|
0.01
|
inc.
|
71.75
|
74.75
|
3
|
120
|
0.32
|
0.32
|
0.05
|
SJ-07-010
|
71.9
|
97.1
|
23.5
|
71
|
16.00
|
0.30
|
0.02
|
inc.
|
85.7
|
93.05
|
7.35
|
142
|
0.48
|
0.71
|
0.07
|
inc.
|
91.7
|
93.05
|
1.35
|
130
|
1.90
|
2.68
|
0.13
|
SJ-07-011
|
53.6
|
70.55
|
16.95
|
81
|
0.15
|
0.28
|
0.03
|
inc.
|
59.6
|
68.65
|
9.05
|
133
|
0.27
|
0.47
|
0.06
|
inc.
|
64.15
|
68.65
|
4.5
|
159
|
0.50
|
0.83
|
0.11
|
SJ-07-021
|
61.4
|
73.3
|
11.9
|
68
|
0.08
|
0.24
|
0.01
|
SJ-07-022
|
55.65
|
56.4
|
0.75
|
583
|
0.07
|
1.31
|
<0.005
|
SJ-07-022
|
91.3
|
124.65
|
33.35
|
99
|
0.35
|
0.88
|
0.04
|
inc.
|
93.3
|
97.6
|
4.3
|
218
|
0.22
|
0.33
|
0.04
|
inc.
|
117.25
|
118.5
|
1.25
|
500.3
|
1.56
|
2.25
|
0.14
|
SJ-07-023
|
50.3
|
98.5
|
28
|
85
|
0.05
|
0.19
|
0.01
|
inc.
|
60.85
|
69.4
|
8.55
|
164
|
0.09
|
0.25
|
0.03
|
inc.
|
65
|
66
|
1
|
390
|
0.09
|
0.15
|
0.05
|
Table 2:
Underground sampling assay results from the Western San Jose Ramp.
Sample
|
Length (m)
|
Silver (g/t)
|
Lead (%)
|
Zinc (%)
|
Gold (g/t)
|
R-53
|
12.8
|
135
|
1.16
|
1.94
|
0.06
|
inc.
|
1.8
|
279
|
2.19
|
3.53
|
0.13
|
R-54
|
11.6
|
124
|
0.89
|
1.62
|
0.12
|
inc.
|
1.7
|
420
|
2.89
|
4.62
|
0.17
|
R-55
|
6.4
|
211
|
1.25
|
2.79
|
0.1
|
inc.
|
2.5
|
380
|
2.17
|
4.62
|
0.17
|
R-56
|
3.6
|
369
|
1.76
|
1.97
|
0.15
|
inc.
|
1.4
|
617
|
1.87
|
2.53
|
0.18
|
R-57
|
4.9
|
1128
|
2.36
|
3.14
|
0.14
|
inc.
|
1.9
|
2653
|
4.07
|
5.63
|
0.24
|
Arian has commenced a Canadian
National Instrument (NI) 43-101 resource study on the San Jose property. All drill-hole and assay
data has been sent to ACA Howe, of England, to compile a preliminary
NI 43-101 resource study.
During November, 9,600,000 warrants
were exercised raising Cdn$4.4 million which will be used to fund additional
systematic exploration on the Company’s properties, including San Jose.
Arian’s Chief Executive
Officer, Jim Williams, stated, “The
exploration programme is still continuing to discover new areas of silver and
base-metal mineralisation at the San
Jose property. As a result we have increased our
drilling programme to 12,000m. Out of this we have already drilled nearly
9,000m.
“The area to
the west of the San Jose
head-frame was completely unexplored before we started our drilling programme.
The results to date indicate that the magnitude of the San Jose Vein is now significantly larger
than we previously envisaged.”
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
transporting to Inspectorate’s sample preparation facility in Durango, Mexico.
The entire half-core is crushed and two kilograms is pulverised and
homogenised. 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 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 on www.sedar.com
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).
For further information please contact:
In London :
|
In Vancouver :
|
Jim Williams
– CEO
Arian Silver
Corporation
+44
(0)207 529 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 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.
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
mineralisation, 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 realised or substantially realised, 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.
Mrs Caroline Birch
Director Corporate Development
Arian Silver
43 North Audley Street
London
W1K 6WH
Tel: +44 207 529 7511
Fax:+44 207 491 2244
cbirch@ariansilver.com
www.ariansilver.com