Arian Silver Corporation (“Arian Silver” or the “Company”) is pleased to announce that, further to its press release on 25 February 2016 which announced a Memorandum of Understanding had been entered into with privately owned Tierra Nuevo Mining Ltd (“TNM”), the Company is progressing to the next stage with TNM’s Noche Buena gold and silver tailings project, located in northern Zacatecas State of Mexico (the “Tailings Project”).
TNM has invested approximately US$500,000 in the Tailings Project through its previous acquisition, exploration and test-work. A NI 43-101 report prepared for TNM in 2012 outlined an indicated mineral resource containing 1 million tonnes with 3 grams per tonne (g/t) gold and 55 g/t silver, representing approximately 100,000 ounces (oz) of gold and some 1.7 million oz of silver.
Arian Silver has secured the exclusive right to evaluate the Tailings Project for a further 120 days for consideration of US$25,000, which will enable further metallurgical test work to be undertaken to define the process required to produce a saleable gold and silver concentrate.
Jim Williams, Chief Executive Officer of Arian Silver, commented, “This is a significant step towards acquiring a low-cost production asset in which we see significant potential for gold and silver to be extracted in the near-term through a simple and inexpensive process, as compared with traditional hard rock mining ventures. With the successful closing of the £700,000 placing last week, we are ideally placed to complete the necessary studies to determine a cost effective, saleable gold and silver product from the Tailings Project.
In addition, we continue to explore the potential of several mineral properties in Mexico, including other mineral properties owned by TNM. These exciting developments come at a time when the precious metal markets are exhibiting positive signs of recovery and the indications suggest this is not a short-term affair. We look forward to updating shareholders further on our progress over the coming months.”
For further information please contact:
|Arian Silver Corporation|
Jim Williams, CEO
David Taylor, Company Secretary
Tel: +44 (0)20 7887 6599
|Northland Capital Partners Limited|
Gerry Beaney / David Hignell
Tel: +44 (0)203 861 6625
|Beaufort Securities Limited|
Tel: +44 (0)20 7382 8300
|Yellow Jersey PR Limited|
Tel: +44 (0)7768 537 739