April 16th, 2007
The Company has made considerable progress on its early stages of drilling at Calicanto, and has completed sixteen ‘NQ’-size diamond drill holes totalling 3,000 metres (m).
Arian’s Chief Executive Officer, Jim Williams, said, “The positive results from the drilling have identified as planned, the continuation of epithermal silver-gold veins along strike and to depth below the known mine workings. The ‘blind’ discoveries in holes 016, 006, and 003 have demonstrated that there is excellent potential for the Calicanto property to host additional, undiscovered silver-gold veins, which have proven to host bonanza grade silver-gold mineralization.”
Assays for the first four holes have already been released on 19th February and results from a further 7 holes are set out below:
*Silver equivalent grade is calculated on the basis of US$12.50/oz Ag and US$600/oz Au. Silver equivalent calculations reflect gross metal content and have not been adjusted for metallurgical recoveries.
Details of the drill hole locations are available at the following link: http://www.ccnmatthews.com/docs/Calicanto_DH_Plan_Map.pdf
Drill-hole CAL-06-008 was an inclined hole (-85o), designed to explore for the continuation of the Calicanto vein below hole CAL-06-007, and along strike from hole CAL-06-011. The hole intersected a 4.5m wide, silver-gold vein at approximately 150m depth, believed to be the down-dip continuation of the Calicanto Splay/Principe vein. At approximately 210m a 2.75m wide gold-silver vein was intersected, believed to be the continuation along strike of the Calicanto vein.
Drill-hole CAL-06-016 was an inclined hole (-60o), designed to explore the down-dip continuation of the high-grade El Misie vein encountered in hole CAL-06-017. At approximately 140m depth, the hole intersected a 2.5m wide zone of silver-gold mineralization. A second 5m wide ‘blind’ vein was encountered at 190m depth but did not contain significant silver values.
Drill-hole CAL-06-003 was an inclined hole (-60o), designed to explore for the down-dip continuation of the high-grade Vicochea vein encountered in drill-hole CAL-06-001. A narrow (0.35m wide) gold-silver vein was encountered at 140m depth and is believed to be the down-dip continuation of the main Vicochea Vein. A second, 2.10m wide, silver-gold vein was also encountered at approximately 160m which appears to be a ‘blind’ discovery of a new vein associated with the Vicochea Vein System.
Drill-hole CAL-06-006 was an inclined hole (-55o) that was designed to explore for the continuation of the Calicanto vein along strike from the Calicanto Ramp. At approximately 69m depth, a narrow (0.45m wide), silver-gold vein was encountered, believed to be the main Calicanto vein, and was surrounded by a zone of veining and stockwork mineralization. A second, unknown silver-gold vein (1.35m wide) was encountered at 131m depth. The drill-hole indicates that the Calicanto vein continues along strike.
Drill-hole CAL-06-014 was an inclined hole (-55o), designed to explore for the San Buenaventura and Nevada Vein systems. A second silver-gold vein, the Nevada vein (1.1m wide) was intersected at 137m, and demonstrated that there is a good possibility for the continuation of the Nevada vein along strike from the Collado Mine to the Vicochea Mine, a distance of 300m that appears not to have been exploited.
Drill-hole CAL-06-007 was an inclined hole (-75o) that was designed to explore for the continuation of the Calicanto vein below hole CAL-06-006. The Calicanto vein (1.75m wide) was intersected at approximately 120m depth.
Drill-hole CAL-06-015 was an inclined hole (-80o), designed to explore for the San Buenaventura and Nevada Vein systems along strike from hole CAL-06-014. At 39m a narrow (0.9m wide) gold-silver vein (San Buenaventura Vein) was encountered. At 87m, a second narrow (0.7m wide) vein (Nevada Vein) was intersected, demonstrating that both the Nevada and San Buenaventura veins continue along strike.
The Company continues to advance both its underground declines on the Calicanto structure and the San Buenaventura structure. The Calicanto decline is currently 85m in and the San Buenaventura decline is 67m in, where Run-Of-Mine (ROM) material is being stockpiled before being treated in a nearby milling facility which will indicate both head grade and recovery.
All technical information for the Calicanto property 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 the ALS Chemex preparation facility in Guadalajara. The entire half-core is crushed and two kilograms is pulverized and homogenized. 150 gram pulp samples are then air freighted to ALS Chemex’s analytical laboratories in Vancouver, British Columbia, for analysis. Systematic assaying of duplicates is performed for precision and accuracy; check assays are regularly conducted by ALS Chemex. Each sample has its own unique sample number. The ALS Chemex laboratories in North America are ISO 17025 and ISO 9001:2000 accredited.
Approximately 5% of the analysed samples are re-sampled and sent to BSi/Inspectorate’s sample preparation facility in Durango, 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 freighted to BSi/Inspectorate’s analytical laboratory in Reno, Nevada for analysis. Results from all duplicate analyses are compared to identify potential analytical or sampling errors.
The ALS Chemex and BSi/Inspectorate laboratories are independent of Arian.
The samples were analysed for 32 elements by ICP (inductively coupled plasma) preceded by an Aqua Regia digestion. Gold was analysed by fire assay with an atomic absorption finish. High-grade samples (gold >3 g/t and silver >100 g/t) were re-analysed by a fire assay with a gravimetric finish.
Additional information with respect to the Calicanto property is contained in a technical report prepared by A.C.A. Howe International Limited, dated March 20, 2006, and entitled “Technical Report on the Calicanto and San Celso Projects, Zacatecas, Mexico”.
Mr. Jim Williams, Eur Ing, Eur Geol, 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:
Jim Williams - CEO
Arian Silver Corporation
+44 (0)20 7529 7511
Justine Howarth/ Clare Irvine
+44 (0)20 7851 7480
Grant Thornton Corporate Finance
+44 (0)207 385 5100
Haywood Securities (UK) Limited
+44 (0) 207 031 8000
Vanguard Shareholder Solutions
+1 (604) 608 0824
Toll free: 1866 898 0825
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 Celso projects in Zacatecas state, the Tepal project in Michoacán State and the San José Property in Zacatecas 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. Arian is supported by the Dragon Group in London, and the Endeavour Group in Canada.
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.
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, potential mineralization and resources, 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 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, among other things, 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, 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.