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Arian Silver Corporation (Arian) is a silver exploration, development and production company operating in one of the richest silver-bearing districts in the world, Zacatecas State, Mexico. Arian’s current flagship project is their 100% owned San José property which lies 55km to the southeast of Zacatecas City and covers 11 mining...
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Arian Silver increases silver resource at San Jose by a third
March 12 2012, 7:37am
Mexico-focused silver miner Arian Silver (LON:AGQ) today reported an increase of nearly a third in silver resources at its flagship San Jose project in Zacatecas State.
The NI 43-101 compliant resource rose to over 117 million ounces silver from 88 million and comprising 30.6 million ounces in the indicated category and 86.7 million ounces inferred.
Arian’s latest drilling also resulted in sizeable increases in the lead and zinc resources at San Jose, with contained pounds of lead up by 29 per cent and zinc by 30 per cent.
The miner added that the mineralisation at San Jose remains open along the western and eastern strikes of the vein and to depth.
Further drilling is planned to infill the current resources, step out along the remaining San Jose vein (SJV) structure in both directionsand to drill at depth on the SJV, it added.
Jim Williams, Arian’s chief executive, 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.”
Arian also has a number of other targets to drill within the property, which provide further potential upside, he added.
The in-situ resources now comprise 8,000,000 gross tonnes in the Indicated mineral resource category, containing 30.6 million ounces silver (Ag), 67 Million pounds 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.
There was 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.
