Arian Silver Progresses Refurbishment of the El Bote Processing Plant in Mexico
November 04 2013 - 1:00AM
Marketwired Canada
Arian Silver Corporation ("Arian" or the "Company") (TSX
VENTURE:AGQ)(AIM:AGQ)(FRANKFURT:I3A), a silver exploration, development and
production company with a focus on projects in the Zacatecas silver belt of
Mexico, reports a positive start to the refurbishment programme for the
Company's recently purchased El Bote processing plant ("El Bote" or the
"Plant"), which is expected to process up to 1,500 tonnes per day ("tpd") when
fully commissioned.
Today's news follows on from the Company's transformational statement reported
on 2 September 2013 regarding the successful completion of its private placement
debt financing in the principal amount of US$15,585,000 consisting of a senior
secured convertible note.
Jim Williams, Chief Executive Officer of Arian, commented: "I am very pleased
with the progress already made on the refurbishment of El Bote. The successful
commissioning of the Plant and development of the mine will give Arian the
capacity to achieve a scale of production that will create a robust project."
In August 2013, Arian purchased El Bote, situated approximately 50 km from the
site of the San Jose mine. El Bote comprises a crushing circuit with a reported
throughput of 150 tonnes per hour, a grinding circuit comprising a series of
ball mills, and flotation circuits, thickening tanks, and filters.
The refurbishment programme includes the reconditioning of the Plant in-situ,
its dismantling, transport and reinstallation in a modular manner at the
Company's 100%-owned San Jose project. An internal team is leading the
refurbishment of the Plant which is proving to show cost efficiencies and
quality of work. Third-party contractors will, in due course, commence the
development of the necessary site works, tailings dam and electrical
infrastructure for the Plant.
Arian Silver's investment in its owner-operated Plant is expected to enable the
Company to deliver reduced operating costs through improved overall
efficiencies, including metal recoveries, the reduction of transport costs,
increased control of the entire operation and no more toll fees to a third-party
for processing.
It is anticipated the initial stage of the plant, providing a capacity of 750
tpd, will be commissioned towards the end of 2014. The second commissioning
stage to increase capacity up to 1,500 tpd is expected to complete shortly
afterwards. Meanwhile, a programme of further mine development is on-going to
prepare sufficient mining areas to supply the Plant on a sustainable basis.
Forward-Looking Information:
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 (including, without limitation, statements relating to
the Company's anticipated plans to transport, refurbish and operate the El Bote
processing plant, planned mine expansion, and ability to achieve increased
operational control or efficiency, or reduced operational costs), constitute
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. Factors that could cause actual results or events to differ materially
from current expectations include, but are not limited to, unexpected delays in
completing the transportation and refurbishment of the Plant which could lead to
unexpected delays in the start of operations and delays in the Company's mine
expansion plans.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) and no stock
exchange, securities commission or other regulatory authority accepts
responsibility for the adequacy or accuracy of this release nor approved or
disapproved of the information contained herein.
FOR FURTHER INFORMATION PLEASE CONTACT:
Arian Silver Corporation
Jim Williams
CEO
(London) +44 (0)20 7887 6599
jwilliams@ariansilver.com
Arian Silver Corporation
David Taylor
Company Secretary
(London) +44 (0)20 7887 6599
dtaylor@ariansilver.com
Grant Thornton UK LLP
Philip Secrett / David Hignell
(London) +44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0)7768537739
dominic@yellowjerseypr.com
XCAP Securities PLC
Jon Belliss
(London) +44 (0)20 7101 7070
jon.belliss@xcapgroup.com
CHF Investor Relations
Cathy Hume
(Canada) +1 416 868 1079 x231
cathy@chfir.com