April 4th, 2011
4 April 2011
ARIAN SILVER’S CONTINUING EXPLORATION DRILLING INTERCEPTS HIGH-GRADE SILVER AT SAN JOSE
London, England, 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, is pleased to report assay results from a further eleven holes recently drilled at its 100%-owned San Jose Property in Zacatecas State, Mexico.
• High-grade silver intersected in latest round of drilling;
• Mineralisation intersected in 11 out of 12 holes;
• A total of 32 holes completed for 7,626 metres (“m”), representing approximately 76% of the Phase 3 drill programme; and
• Mineralisation remains completely open along strike and depth.
Commenting on today’s drilling update, Arian’s Chief Executive Officer, Jim Williams, said:
“Once again everyone is highly encouraged by the latest results from our current phase of drilling along the San Jose Vein (“SJV”). We continue to confirm the presence of significant silver mineralisation in a westerly direction along the strike of the SJV with the latest batch of drill core results. We have now completed 32 holes, which represents approximately 76% of the current programme moving further west following the extensive strike of the SJV. Once this current drill programme is complete, drilling will continue under a new programme. We are now working to update our resources. An updated NI 43-101 estimate will be undertaken upon conclusion of this 10,000m drill programme; in addition to drill data from this programme, much of the previously completed Phase 2 drill programme will also be incorporated.”
Drilling continues using two ‘Longyear 44’ drill rigs. Thirty-two drill holes have been completed to date for a total of 7,626m. The latest batch of results is from eleven drill holes that were positioned west of the village of Guanajuatillo and continue to confirm, as expected, the continuation of silver mineralisation along the SJV in a westerly direction. Mineralised intercepts were assayed in all eleven drill holes and a selection of these assayed intercepts includes:
• Hole GW-11-007 comprising 1.10m with 265.2 g/t Ag with additional mineralised intercepts further down the hole;
• Hole GW-11-009 comprising 1.65m with 167.0 g/t Ag with additional mineralised intercepts within the hole;
• Hole GW-11-010 comprising 1.22m with 97.5 g/t Ag with additional mineralised intercepts within the hole, including 0.73m with 406.1 g/t Ag;
• Hole GW-11-012 comprising 1.22m with 201.5 g/t Ag with additional mineralised intercepts deeper within the hole;
• Hole GW-11-014 comprising 3.99m with 201.7 g/t Ag and 1.36% Zn;
• Hole GW-11-016 comprising 1.99m with 167.2 g/t Ag with additional mineralisation further down the hole with 3.39m with 107.2 g/t Ag;
• Hole GW-11-017 comprising 1.03m with 355.6 g/t Ag including 0.46m with 940 g/t Ag, and with additional mineralised intercepts further down the hole, including 2.10m with 213.4 g/t Ag and 0.93m with 297.4 g/t Ag;
The complete table showing the assay results for all eleven holes can be found in the following link:
The locations of the current drill holes, in relation to previous holes in this target area and other areas of the SJV, are shown on the plans, which can be found at:
Further step-out and infill drilling is still concentrating in the area west of Guanajuatillo village and the results of this drilling will be reported when received.
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 labelled, bagged and secured before transporting to Stewart Group’s sample preparation facility 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 air freighted to Stewart Group’s analytical laboratory in Canada for 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, and Kamloops, BC Canada 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.
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 press release has been prepared under Mr. Williams’ supervision. Mr. Williams has verified the data disclosed by this release.
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 relating to the drilling programme at San José and a revised resource calculation) 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.
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.
For further information please contact:
Arian Silver Corporation
Berkeley Square House
Arian Silver Corporation
(London) +44 (0)20 7887 6599
Grant Thornton Corporate Finance
(London) +44 (0)20 7383 5100
XCAP Securities PLC
John Grant / Karen Kelly
(London) +44 (0)20 7101 7070
John.Grant@xcapgroup.com / Karen.Kelly@xcapgroup.com
Yellow Jersey PR Limited
(London) +44 (0) 7768 537 739
CHF Investor Relations
(Canada) +1 416 868 1079 x 231
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.