Arian Silver Corporation (“Arian” or the “Company”), the Mexico focused AIM quoted resource exploration and development company, is pleased to report that, further to its announcement dated 11 April 2017 regarding the option agreement to acquire three lithium projects, the test results of its preliminary sampling programme have confirmed the presence of lithium concentrations.
- Sampling programme returned lithium concentrations in all soil samples
- Samples returned lithium grades reaching approximately 0.016% (160 parts per million)
- There will be further exploration to determine the full extent of mineralisation
Jim Williams, Chief Executive Officer of Arian commented, “I am pleased to report on these positive initial results, which confirm the presence of lithium. We now look ahead to advancing further exploration of these assets with deeper sampling techniques, geophysical methods and detailed mineralogical test work to assess the full extent of mineralisation.
Meanwhile, our discussions regarding the potential acquisition of additional lithium projects in Mexico continue to progress. We believe these additional projects would add significant value to Arian and we will provide a further update on these potential acquisitions in due course, provided we are successful in negotiating acceptable terms.”
Full sampling results are available at http://www.ariansilver.com/assets/docs/170510-prelim-sample-results.pdf. An extract of the lithium results is set out in the table below:
|Pozo Hondo M-01||0.004||37.7|
|Pozo Hondo M-02||0.004||43.1|
|Pozo Hondo M-03||0.009||87.9|
|La Abundancia M-01||0.002||18.8|
|La Abundancia M-02||0.016||158.5|
|La Abundancia M-03||0.006||62.1|
Arian announced on 11 April 2017, that the Company had entered into an option agreement to acquire three prospective lithium projects which cover an area of 1,600 hectares in a prospective region of Zacatecas State, Mexico. Each of the projects contains ‘salars’, which are shallow ancient lakes and lagoons. These salars comprise brines formed by an accumulation of groundwater enriched with dissolved lithium, and this early sampling work has evidenced the presence of lithium concentrations at grades reaching approximately 0.016% (160ppm (parts per million)).
The analysis of the initial sampling results was performed independently by the ALS Ltd group of companies, a world leader in metallurgical testing.
Exploration work will continue to determine the depth of the salars, and a mineralogical study of the associated minerals will determine the metallurgical recoveries of lithium. The Company will make further announcements regarding this work programme as appropriate.
The growth in demand for electric vehicles and energy storage is the largest contributor to the increased demand for lithium we have witnessed in recent years. The increasing popularity of renewable energy has created an additional, emerging market in energy storage which management believe will require further supplies of lithium, and this can be illustrated through the recent unveiling of the world’s largest lithium-ion energy storage facility in San Diego.
Global demand for renewable energy projects continues to grow, driving the price of lithium in recent years. We believe that as governments begin to take action to tackle pollution and control air quality, the demand for lithium through the expanding production of electric vehicles and lithium-ion energy storage facilities, will continue to increase.
Mexico is an emerging lithium producing country and is attracting increasing levels of international interest and investment. Zacatecas in particular hosts some very large salars (ancient lakes and lagoons), which are known to host some of the largest lithium resources in the world.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
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|
Charles Goodwin / Harriet Jackson
Tel: +44 (0)7747 788 221
Forward Looking Statement
This press release contains certain “forward-looking information”. 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 are deemed forward-looking information.
This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions. Forward-looking information is 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 information, 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.
Any forward-looking information 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 information, 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 information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.