San Jose = San Celso9 Sep 2020 23:46
ARIAN SILVER INCREASES CONTAINED SILVER AT SAN JOSÉ BY 32% TO MORE THAN 117 MILLION OUNCES IN UPDATED MINERAL RESOURCE ESTIMATE
March 12th, 2012
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 the results of its updated Canadian National Instrument (NI) 43-101 mineral resource estimate for its 100%-owned San José Property (“San José”), located in Zacatecas State, Mexico.
Highlights:
29% increase in resource tonnage along the San José Vein (“SJV”) from the July 2011 mineral resource estimate;
Contained ounces of silver are up 32%;
Contained pounds of lead are up 29%; and
Contained pounds of zinc are up 30%;
Mineralisation remains open along the western and eastern strikes of the SJV and to depth; and
Further drilling is planned to infill the current resources, step out along the remaining SJV structure in both directions, and to drill at depth on the SJV.
Commenting on today’s independent mineral resources estimate update, Arian’s Chief Executive Officer, Jim Williams, said:
“Our latest updated resource estimate reaffirms the potential for very significant silver, lead and zinc resources at San José, which we believe will continue to grow in size with further systematic exploration. Today’s reported resource figures mark a significant increase in total resources and are positive indicators for expanded future mining plans at San José. Contained silver alone has increased by 32% above the independent resource estimate reported in July last year.”
Regarding potential resource growth, Mr Williams explained:
“Almost 2 kilometres of SJV structure to the West, and over 1.5 kilometres to the East remain to be drilled, together with a significant amount of infill drilling to further detail the current resources; this is in addition to down dip extensions of the vein. We also still have a number of other targets to drill within the property, which provide further potential upside.”
The in-situ resources comprise 8,000,000 gross tonnes in the Indicated mineral resource category, containing 30.61 million (M) ounces (oz) silver (Ag), 67.02 M pounds (lb) of lead (Pb) and 149.91 M lb of zinc (Zn) at an average grade of 119 g/t Ag, 0.38% Pb and 0.85% Zn; and 24,500,000 gross tonnes in the Inferred mineral resource category, containing 86.65 M oz Ag, 205.25 M lb of Pb, and 410.50 M lb of Zn at an average grade of 110 g/t Ag, 0.38% Pb and 0.76% Zn.
Management continues to believe San José has much more resource upside to offer and more drilling will be conducted in due course to continue the evaluation of the various untested mineral systems and to further upgrade current resource categories.
The mineral resource estimate is summarized in the table below. The full technical report prepared by CSA Global (UK) Limited will be filed on SEDAR within 4
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