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Company Information for Arian Silver Corporation
Company stock charts - 12 Month chart
 AIM; AGQ
View full financial data | TSX.V; AGQ
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Company Statement
Arian Silver Corporation (Arian Silver) is a silver exploration and development company listed on London's AIM and Canada's TSX-V Exchanges, with the ticker symbol AGQ, and the Frankfurt Stock Exchange, with the ticker I3A. The management of Arian is committed to building a significant silver, gold and base metal producer through a combination of development and acquisition opportunities.
Consequently, Arian is currently focussing its exploration and development efforts in one of the richest known silver-bearing districts in the world -- Zacatecas State, and one of the more recently known mining provinces in Mexico -- the Tepal area of Michoacan State. With strong financial backing and a well connected operations group, Arian offers exposure to investors seeking strong leverage to silver, gold and base metal prices. Arian's aim is to be in production by 2009.
Current Operations
Calicanto Group
Phase one, 3,000 metre, drill programme began on the Calicanto group of properties in December 2006 and was completed in April 2007.
Arian is continuing to advance two underground declines along the Calicanto and San Buenaventura structures. The Calicanto decline is currently 95 metres in and the San Buenaventura decline is 80 metres in. Run-Of-Mine (ROM) material is being stockpiled before being treated in a nearby milling facility which will indicate both head grade and recovery. Mapping and sampling is ongoing as the decline is advanced along strike.
San Jose Project
The San Jose property covers approximately 4,300 hectares and includes the San Jose mine which has the potential for near-term underground mechanised mining. The mine was previously operated by Zimapan (Peñoles), 1973-1991, and Monarca, 1993-2001, extracting over 2 million tonnes averaging 250g/t silver. An existing underground development ramp extends 3 km along the San Jose vein.
The western portion, over 4 kilometres of strike length, of the San Jose Vein (SJV) remains un-exploited as previous mining activity focused on the eastern part of the SJV. An additional two main vein structures are exposed on the property, which have not been explored by modern systematic methods.
Phase one, 5,000 metre, drill programme commenced in May 2007. The drill programme has been designed to confirm the historical drill-hole data and to expand on a number of priority target areas.
Priority Target Areas
Block 450
Arian has identified a number of historical "reserve" (not NI 43-101 compliant) blocks that still exist east of the San Jose mine. Work is currently underway to re-access these areas for sampling and mapping and a number of short drill holes have been designed to confirm the historical drill-hole data.
Santa Ana Mine
The Santa Ana Mine exploited a number of narrow, high-grade silver shoots within the San Jose Vein system to a depth of 120 metres below surface to where the vein mineralization changed from oxide to sulphide-rich, which gave poor metal recovery using historical processing techiques. In the adjacent San Jose mine (800 metres east of the Santa Ana workings), Penoles exploited the sulphide portion of the San Jose Vein to a depth of 275 metres, and Arian is planning to drill the down-dip continuation of the vein below the Santa Ana to test for mineralization at depth.
Solidad Mine
A number of prospects and shafts explore a portion of the San Jose Vein approximately 2 km west of the San Jose Shaft, where three, wide spaced shallow drill-holes have indicated a wide silver-base-metal vein system. Arian is planning to drill a number of holes to confirm the historical drill-hole and trench data.
Arian has also completed a preliminary Induced Polarization (IP) study over the area with a view to identifying vein structures beneath the quaternary cover that covers a large area of the San Jose property. Initial results have been positive with a number of potential new structures identified that will be explored in the immediate future.
Tepal
Arian Silver Corporation has acquired an exclusive option over 100% of the Tepal poly-metallic project in Michoacán State, Mexico. The Project is located approximately 450 miles to the south of Zacatecas where Arian's other properties are located.
The Tepal Project comprises six exploration concessions covering approximately 14,000 hectares. Initial investigation by Arian indicates that the Tepal Project consists of four gossanous poly-metallic deposits containing copper, gold and silver, with potential for additional areas of mineralization.
Both INCO and Teck were interested in the Tepal Project as a copper-gold porphyry target, regarding silver only as a by-product. Hecla's primary focus on the Project was a large tonnage, low grade gold target. The Tepal Project has not been systematically tested for silver by previous owners, as the silver market had been subdued, with a price averaging less than $6 an ounce during the 1970s and 1990s. The management of Arian believes that potentially significant quantities of silver, as well as other metals, could also be present at the Tepal project.
Arian has established a local operational base in the area and has obtained environmental permits and all relevant permissions to conduct exploration on all the Tepal properties, without payment or royalties to be made to the landowners. Phase one exploration has started with remote sensing and aerial mapping surveys. Phase one drilling commenced in April 2007 on known targets.
San Celso & Ojocaliente District
San Celso
The San Celso property covers numerous historical workings over a number of high grade silver epithermal veins. Three main veins are exposed on the property. Arian has rehabilitated two workings to over 100 metres depth in order to access the workings and undertake detailed mapping and sampling.
Sampling has returned bonanza grades from the vein systems, in places up to 4 metres in thickness. Historical workings have only explored the oxide portions of these veins above the water table. Geological mapping has identified additional structures on, or trending on to Arian's property.
Sombrerete Area
Arian has conducted preliminary surveying and sampling on the Reyna Victoria properties in the northwest of Zacatecas state. Initial indications are encouraging; grab samples returned grades of >9g/t gold and ~300g/t silver; these dump samples originate from an epithermal vein some 5m in thickness. Further work is ongoing.
Tailings Projects
Arian has conducted preliminary scoping studies on a number of silver tailings projects and is in negotiations to acquire productive properties with a view to generating positive near-term cash-flow.
Capital cost for similar operations elsewhere in the Mexican silver belt are in the region of US$2 million. If metallurgical tests using sodium or potassium thiosulphate show similar results to previously tested material, a 70% recovery rate can be achieved over 5 days.
Geographical Spread
Zacatecas State and Michoacán State, Mexico
Board of Directors and Key Management
| Board of Directors | |
| Tony Williams | Chairman |
| Jim Williams | CEO |
| James Crombie | Non-Executive Director |
| Tom Bailey | Non-Executive Director |
| James Cable | Non-Executive Director |
| David Cohen | Non-Executive Director |
| Key management | |
| Graham Potts | Company Secretary and CFO, London |
| Matthew Booth | Senior Geologist, Mexico |
| Ing. Marcial Chávez Quinto | Director, Mexico |
| Lic. Cristina Vizcaíno Landeros | Company Secretary, Mexico |
Company Address43 North Audley Street
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Additional Address/Key ContactInvestor Relations, North America: |
Annual General MeetingJune |
Nominated BrokersHaywood Securities (UK) Limited | Nominated AdvisorsGrant Thornton UK LLP |
Broker/Analyst Reports
05/12/07 - Initiation of Coverage
15/11/07 - Vicarage Capital Limited
01/03/07 - Zeal Reports 20 Favourite Silver Stocks
Major Shareholders
| RAB Special Situations (Master) Fund Limited | 9,000,000 | 7.53% |
| J T Williams | 6,800,000 | 5.69% |
Related News
26/06/08 - Arian Silver Has Plenty Of Copper And Gold, As Well As Silver, Down In Mexico17/03/08 - Arian Silver May Have To Duck To Avoid A Few Low-Flying Glasses Before The Market Learns To Appreciate It
03/09/07 - Arian Silver’s Drilling May Not Be In Vein (Vain, geddit? Ed)
14/02/07 - Arian Silver Exhibits Massive Confidence In Its Projects
Most Recent Statement
02/07/08 - Exploration Update-San Jose Project24/06/08 - Arian Silver Corporation Engages CHF Investor Relations
16/06/08 - Exploration Update-Tepal Project
02/06/08 - Results for the Quarter Ended March 31, 2008
29/05/08 - Non-Brokered Private Placement Completed
30/04/08 - Results for the Financial Year Ended December 31, 2007