Arian Silver Corp Positive Lithium Results from Initial Sampling
12 May 2017 - 4:00PM
UK Regulatory
TIDMAGQ
Arian Silver
Trading Symbols
AIM: AGQ
FWB: I3A
12 May 2017
Positive lithium results from initial sampling
Arian Silver Corporation ("Arian" or the "Company"), the Mexico focused AIM
quoted resource exploration and development company, is pleased to report that,
further to its announcement dated 11 April 2017 regarding the option agreement
to acquire three lithium projects, the test results of its preliminary sampling
programme have confirmed the presence of lithium concentrations.
Highlights
* Sampling programme returned lithium concentrations in all soil samples
* Samples returned lithium grades reaching approximately 0.016% (160 parts
per million)
* There will be further exploration to determine the full extent of
mineralisation
Jim Williams, Chief Executive Officer of Arian commented, "I am pleased to
report on these positive initial results, which confirm the presence of
lithium. We now look ahead to advancing further exploration of these assets
with deeper sampling techniques, geophysical methods and detailed mineralogical
test work to assess the full extent of mineralisation.
Meanwhile, our discussions regarding the potential acquisition of additional
lithium projects in Mexico continue to progress. We believe these additional
projects would add significant value to Arian and we will provide a further
update on these potential acquisitions in due course, provided we are
successful in negotiating acceptable terms."
Full sampling results are available at http://www.ariansilver.com/assets/docs/
170510-prelim-sample-results.pdf. An extract of the lithium results is set out
in the table below:
Sample % ppm
Columpio M-1 0.005 50.6
Columpio 02 0.011 112
Columpio 03 0.012 120
Pozo Hondo M-01 0.004 37.7
Pozo Hondo M-02 0.004 43.1
Pozo Hondo M-03 0.009 87.9
La Abundancia M-01 0.002 18.8
La Abundancia M-02 0.016 158.5
La Abundancia M-03 0.006 62.1
Arian announced on 11 April 2017, that the Company had entered into an option
agreement to acquire three prospective lithium projects which cover an area of
1,600 hectares in a prospective region of Zacatecas State, Mexico. Each of the
projects contains 'salars', which are shallow ancient lakes and lagoons. These
salars comprise brines formed by an accumulation of groundwater enriched with
dissolved lithium, and this early sampling work has evidenced the presence of
lithium concentrations at grades reaching approximately 0.016% (160ppm (parts
per million)).
The analysis of the initial sampling results was performed independently by the
ALS Ltd group of companies, a world leader in metallurgical testing.
Exploration work will continue to determine the depth of the salars, and a
mineralogical study of the associated minerals will determine the metallurgical
recoveries of lithium. The Company will make further announcements regarding
this work programme as appropriate.
Further Information
The growth in demand for electric vehicles and energy storage is the largest
contributor to the increased demand for lithium we have witnessed in recent
years. The increasing popularity of renewable energy has created an additional,
emerging market in energy storage which management believe will require further
supplies of lithium, and this can be illustrated through the recent unveiling
of the world's largest lithium-ion energy storage facility in San Diego.
Global demand for renewable energy projects continues to grow, driving the
price of lithium in recent years. We believe that as governments begin to take
action to tackle pollution and control air quality, the demand for lithium
through the expanding production of electric vehicles and lithium-ion energy
storage facilities, will continue to increase.
Mexico is an emerging lithium producing country and is attracting increasing
levels of international interest and investment. Zacatecas in particular hosts
some very large salars (ancient lakes and lagoons), which are known to host
some of the largest lithium resources in the world.
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.
For further information please contact:
Arian Silver Corporation Northland Capital Partners Limited
Jim Williams, CEO Gerry Beaney / David Hignell
David Taylor, Company Secretary Tel: +44 (0)203 861 6625
Tel: +44 (0)20 7887 6599
OR
OR
Beaufort Securities Limited Yellow Jersey PR Limited
Jon Belliss Charles Goodwin / Harriet Jackson
Tel: +44 (0)20 7382 8300 Tel: +44 (0)7747 788 221
Forward Looking Statement
This press release contains certain "forward-looking information". All
statements, other than statements of historical fact that address activities,
events or developments that the Company believes, expects or anticipates will
or may occur in the future are deemed forward-looking information.
This forward-looking information reflects the current expectations or beliefs
of the Company based on information currently available to the Company as well
as certain assumptions. Forward-looking information is subject to a number of
significant risks and uncertainties and other factors that may cause the actual
results of the Company to differ materially from those discussed in the
forward-looking information, and even if such actual results are realised or
substantially realised, there can be no assurance that they will have the
expected consequences to, or effects on the Company.
Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking information is not
a guarantee of future performance and accordingly undue reliance should not be
put on such information due to the inherent uncertainty therein.
END
(END) Dow Jones Newswires
May 12, 2017 02:00 ET (06:00 GMT)
Alien Metals (LSE:UFO)
Historical Stock Chart
From Apr 2024 to May 2024
Alien Metals (LSE:UFO)
Historical Stock Chart
From May 2023 to May 2024