Arian Silver announced the results of a Preliminary Economic Assessment for its San Jose project in Zacatecas State, Mexico. The study shows that mining and milling of approximately 500,000 tonnes of resources estimated will recover approximately 2.15 million ozs of silver, 1,800 tonnes of lead and 3,100 tonnes of zinc with an operating cash costs of US$32.00 per tonne. The project net present value (NPV)is estimated at US$13.44 million based on an 8% discount rate with an internal rate of return (IRR) of 159%.
During the 3 months ended Mar31/09, the dewatering of the San Jose mine workings was ongoing and some of the previously inaccessible workings have been made safe to enter. Within these recently accessible workings it is planned to initiate a sampling programme together with a continuation of the surface drilling programme, subject to financing. In addition, the company recommenced the submission of its stockpiled drill and channel samples for assay.
Arian Silver announced results from the first 19 drill holes from the Phase 2 drill program at its San Jose project, Zacatecas, Mexico. Best results came from hole 08-088 intersecting 2.0 meters grading 915.0 g/t silver, 0.54% lead, 0.46% zinc.
Advanced or Above