http://biz.yahoo.com/ccn/080414/200804140454435001.html?.v=1Press Release Source: Arian Silver Corporation
Arian Silver Corporation: Drilling Intersects 110 Metres Grading 1.13 g/t AuEq at Tepal
Monday April 14, 2:00 am ET
Highlights -
- 110m grading 0.49 g/t Au, 0.28% Cu, or 1.13 g/t AuEq
- 87m grading 0.44 g/t Au, 0.27% Cu, or 1.04 g/ t AuEq
- Discovery of Au-Cu mineralisation extending east and west from the North Resource area
- Discovery of north-western extension of the South Resource area: 90m grading 0.77 g/t AuEq
- New mineralised zone (Eastern Zone) discovered with initial exploratory hole grading 0.65 g/t AuEq over 55m
- Phase-1 drill programme completed
LONDON, UNITED KINGDOM--(Marketwire - April 14, 2008) - Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ - News; AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A - News)is pleased to announce additional assay results from the Phase-1 diamond drilling programme at its Tepal Porphyry Project in Michoacan State, Mexico. A total of 7,178.55 metres ("m") in 42 holes were drilled on the Property, marking the completion of the Phase-1drill programme.
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Encouraging results from this new data included drill-hole AS-07-023, which was drilled to explore for the continuation of the North Resource area further to the west. The drill-hole intersected a number of narrow, lower-grade mineralised tonalites. However, the hole terminated in 12.6m of silicified tonalites with disseminated pyrite and stockwork veining that graded 0.92 grams per tonne ("g/t") gold-equivalent ("AuEq") comprising 0.31 g/t gold ("Au") and 0.27% copper ("Cu"). This hole is to be extended to fully define this mineralised zone during Phase-2 of drilling.
Drill-hole AS-07-025 was drilled to explore a gossan exposed at surface 1.8 km east of the North Resource area. The drill-hole intersected 55m of silicified tonalites with disseminated pyrite and stockwork veining that graded 0.65 g/t AuEq (0.20 g/t Au and 0.20% Cu). This is a significant new discovery made by Arian at Tepal; this area has been designated the Eastern Zone, and will be followed up in the Phase-2 drill programme.
Drill-hole AS-07-028 was drilled to explore for the northwest extension of the South Resource area. The drill-hole intersected 90 metres of silicified tonalites, with disseminated pyrite mineralisation that graded 0.77 g/t AuEq (0.37 g/t Au, 0.18% Cu). Within this mineralised interval was an intersection of 38m which grades 0.64 g/t Au and 0.3% Cu.
Drill-hole AS-07-029 was drilled 100m west of the North Resource area to explore the western extension of this area. At 47.25m depth the drill-hole intersected 153.8m of silicified tonalites with disseminated pyrite, which graded 0.68 g/t AuEq (0.27 g/t Au, 0.18% Cu). Within this interval was an 18m intercept that graded 1.46 g/t AuEq (0.65 g/t Au, 0.35% Cu). The hole was terminated at a depth of 201m in mineralisation (5m grading 0.74 g/t AuEq). Arian plans to extend this hole in the Phase-2 drill programme.
Drill-hole AS-07-032 was drilled to explore an area of alteration located 200m west of the North Resource area. Shallow (less than 50m depth) drilling by Hecla had intersected minor gold and copper mineralisation, but hole AS-07-032 intersected, from surface, 126m of silicified tonalites, with pervasive quartz-pyrite stockwork veining that graded 0.9 g/t AuEq (0.28 g/t Au, 0.27% Cu) over 126m and probably represents the western extension of the North Resource area.
Drill-hole AS-07-033 intersected 177m of disseminated pyrite and chalcopyrite mineralisation from 21.05m depth, grading 0.89 g/t AuEq (0.38 g/t gold and 0.22% copper). Within this interval, was a zone of increased sulphide mineralisation that graded 1.04 g/t AuEq over 87m (0.44 g/t Au, 0.27% Cu).
Drill-hole AS-07-041 was drilled to explore the large (750m x 500m) geochemical anomaly between the North and South Resource areas. The drill-hole intersected 200.7m of silicified tonalites, but encountered narrow zones of lower grade gold-copper mineralisation. Follow-up work is planned in this area.
Table 1: Tepal Drill Programme Update - using a cut-off grade of greater than 5m width, grading greater than 0.5 g/t AuEq
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I spoke with Keith, and he said that the prophyry deposit was amendable to pit mining and that it was a matter of tonnage, meaning they would have to find large areas of the same grade.