News out https://www.ariansilver.com/s/NewsReleases.asp?ReportID=501910&_Type=Press-Releases&_Title=Arian-Silver-Reports-Further-Encouraging-Exploration-Progress-at-San-Jose
Mon Jan 16, 2012
Arian Silver Reports Further Encouraging Exploration Progress 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, today announced further encouraging results from the Company's Phase 4 exploration drilling programme together with the completion of a geophysical induced polarisation ("IP") survey at its 100% owned San José Property ("San José"), located in Zacatecas State, Mexico.
Highlights:
• 36 drill holes for 9,400 metres ("m") completed so far;
• Multiple high-grade silver intercepts with step-out and infill drilling along the San José Vein ("SJV");
• IP survey completed on the western end of the SJV; and
• Resource estimate update anticipated following completion of Phase 4 drilling.
These results continue to support the large scale resource potential along the SJV indicated by the initial 24 holes of the Phase 4 drill programme announced on 24 October 2011.
Drilling Update
The Phase 4 drilling programme, which is nearing completion, is for up to 40 drill holes totalling 10,000m comprising both step-out and in-fill drilling along the extensive strike length of the SJV. The strategy is to identify additional resources and to upgrade the current resources by both size and category.
Selected intercepts from the current drilling include:
• Hole GW-11-048 comprising multiple intercepts, including 6.97m* with 259 g/t Ag, and 2.59m* with 270 g/t Ag, and 2.59m* with 230 g/t Ag;
• Hole GW-11-052 comprising 4.33m* with 183 g/t Ag, and 4.63m* with 253 g/t Ag;
* representing true thicknesses.
Geophysical IP Survey
During November and December 2011 an IP geophysical survey was completed with a view to interpretation of the displacement of the SJV due to the effects of a significant regional fault system which cuts across the western portion of the SJV, some 1.5 km east of the western boundary of the concession. The survey comprised seven parallel lines, 200m apart, for a total of 12.5 km and successfully identified these areas of vein displacements. These areas are now being drilled which will conclude the Phase 4 drilling programme.
Commenting on today's exploration update, Arian's President and Chief Executive Officer, Jim Williams, said:
"These most recent drill results show continuity of vein thickness, silver mineralization and grade as we drill along the SJV. Now that the geophysical survey has been completed and indicates where the SJV has been displaced, we can now drill these new target areas as part of this current phase of drilling before completing the Phase 4 programme. Once this current phase of drilling has finished we shall be working on an updated independent resource estimate, and we continue to believe the San José Project has considerable potential upside to offer."
A schematic plan showing the location of the updated drilling and the area covered by the IP geophysical survey in relation to the SJV strike is available at the following link:
https://www.ariansilver.com/i/pdf/120116dht-Phase_4_Plan_Update.pdf
A complete list of all the latest assay results can be obtained via the following link:
https://www.ariansilver.com/i/pdf/120116dht-Intersecciones_con_ensayes.pdf
Resource Recap
At San José, Arian has already reported significant NI 43-101 compliant Indicated and Inferred resources of:
• Indicated comprising 8 million ("M") tonnes ("t") containing approximately 30 M ounces ("oz") of silver ("Ag"), 70 M pounds ("lbs") of lead ("Pb") and 127 Mlbs of zinc ("Zn"), and;
• Inferred comprising 17 Mt containing approximately 58 Moz of Ag, 140 Mlbs of Pb and 291 Mlbs of Zn.
These resources are detailed in the Company's news release dated 20 July 2011. On completion of the Phase 4 drilling a further resource update will be reported.
Forward Looking Strategy
The Company, as previously reported, has commenced small-scale production using contract mining and toll milling at San José to generate cash flow and to investigate the optimal processing route for an expanded operation in due course. Arian's forward looking strategy continues to include the building up of additional NI 43-101 compliant resources to support the eventual use of larger-scale mechanized mining methods over wide mineralized structures that will result in reduced unit operating costs.
QA/QC
All technical information for the San José Project is obtained and reported under a formal quality assurance and quality control (QA/QC) programme. The core is logged and photographed by Arian's 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 at the San José Project 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 moved to Stewart Group's analytical laboratory at the San José Project for final 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 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.