October 30th, 2007
Arian Silver Corporation (“Arian” or the “Company”) is pleased to announce that recent drilling has verified the location of the western strike extension of the San Jose Vein System.
- Confirmation of the Western Extension of the San Jose Vein System
- More Wide Zones of Disseminated Mineralisation Intersected
- More High-Grade Zones Intersected
- Mineralisation Remains Open in Multiple Directions
- Phase-1 Drilling Extended to 10,000 Metres
Drill-holes located in an area of the San Jose Vein System known as “Solidad”, 1.4 kilometres west of the San Jose shaft and head-frame, have intersected a wide (up to 25m) vein system comprising silver and base-metal mineralisation.
A number of holes were drilled into the “Solidad” zone where previous geological mapping and surface trenching identified a number of quartz-calcite-sulphide-rich veins emplaced within wide quartz-calcite-rich breccias. The drilling intersected the San Jose Vein, which in places has spliced into two veins, the ‘Foot-Wall’ vein and the ‘Hanging-Wall’ vein, at 50, 100 and 150 metres (m) below surface. In addition, deeper drill-holes so far indicate that the San Jose Vein widens from 3-5m at surface to 20+m at depth. The Company considers these results very encouraging since in the historical workings the wider intercepts of the San Jose Vein contained the higher-grade material.
Drill-hole results have also been received from the Company’s drilling in the “Santa Ana” area of the San Jose Vein. The Santa Ana area is located 800m west of the San Jose shaft and head-frame, and the results confirm silver and base-metal mineralisation continuing down-dip below the historic mine workings of the old Santa Ana Mine.
The drilling has identified a silver and base-metal-rich zone (up to 42m wide) that extends at least 200m laterally and 200m vertically from the Santa Ana Mine. This zone is open to the west towards the Solidad zone, referred to above and also to depth. The eastern-most drill-hole (Hole 003) has intersected a lower-grade silver and base-metal rich portion of the San Jose Vein, which is typically found in the deeper portions of a classic epithermal vein system.
Selected recently received assay results from the Solidad and Santa Ana areas are shown below:
There follows a location map and a long-section view of the Solidad and Santa Ana exploration zones of the San Jose Vein:
Click to Enlarge
Figure 1: Plan map showing Santa Ana and Solidad exploration zones in relation to San Jose head-frame and underground mine workings
Click to Enlarge
Figure 2: Long-section view of Santa Ana and Solidad exploration zones with drill-hole intersections (true widths).
As a result of the positive and encouraging exploration results to-date and the recently discovered multi-faceted types of mineralisation in the San Jose Vein, Block 450 and brecciated stockwork target areas (see press release dated 23 October 2007), the Company has decided to increase the size of its Phase-1 drill program from 7,500m to 10,000m.
Arian’s Chief Executive Officer, Jim Williams, commented, “Our exploration program continues to discover new areas of silver and base-metal mineralisation. As a result we have increased our drilling program to 10,000m, out of which we have currently drilled some 7,000m. The Solidad area was completely unexplored before we started our drilling program and as a result of this program, the magnitude of the San Jose Vein System is now significantly larger than previously envisaged.
The drilling in the Santa Ana area is also providing excellent results and drill-hole SJ-07-002 intersected high-grade silver and base-metal mineralisation within 4m of our main haulage ramp in the westerly direction. We believe the Santa Ana area also presents an excellent opportunity to move this Project towards production in the not too distant future”.
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 pulverized and homogenized. 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), proceeded 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 José Project, Zacatecas, Mexico”. A copy of this report can be obtained from SEDAR at 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)20 7529 7511
Keith Shaefer / 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
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 Michoacán State. Part of Arian’s forward-looking strategy lies in the envisaged use of large scale mechanized mining techniques over wider mineralized 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.
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 mineralization, 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 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, 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.