Tuesday, 13 March 2012

Arian Silver increases resources at San José Property

Mexico-focused Arian Silver (CVE:AGQ)(AIM:AGQ) Monday unveiled an updated NI 43-101 mineral resource estimate for its 100%-owned San José Property in Zacatecas State.

Resource tonnage was up 29 percent along the San José Vein (SJV) from a July 2011 estimate while contained ounces of silver were up 32%.

The company said that in the Indicated category, the resource contained 8 million tonnes at an average grade of 119 grams per tonne (g/t) silver, 0.38% lead and 0.85% zinc. Contained metal comprised 30.61 million ounces of silver, 67.02 million pounds of lead and 149.91 million pounds of zinc.
In the Inferred category, the resource contained 24.5 million tonnes at an average grade of 110 (g/t) silver, 0.38% lead and 0.76% zinc. Contained metal comprised 86.65 million ounces of silver, 205.25 million pounds of lead and 410.50 million pounds of zinc. 

Arian Silver said that the 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.

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."

"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."

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.

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