Arian Silver Corporation (“Arian” or the “Company”), the Mexico focused AIM quoted resource development company, announces that it will allow its option with Tierra Nuevo Mining Ltd over the Noche Buena gold and silver tailings project, to lapse unexercised. The Company will instead continue to focus on its lithium projects in Zacatecas State, Mexico, as detailed in the announcement of 11 April 2017.
In respect of the gold and silver tailings project, the metallurgical testwork undertaken by Resource Development Inc (RDi) of Denver, Colorado, in the USA, demonstrated that the tailings are highly refractory and include various gangue minerals that would not only inhibit extraction of the silver and gold, but also lead to significant penalties levied by any purchasers of any concentrate produced.
Jim Williams, Chief Executive Officer of Arian commented: “It is helpful to have come to a conclusion on the Noche Buena tailings project. In drawing a line under this project, we can focus on our lithium interests where we see the greatest upside potential. We expect to announce the first set of assay results from our recently acquired lithium projects imminently, and a preliminary technical report is scheduled to be completed soon thereafter.
We are also in discussions over the potential acquisition of additional lithium projects in Mexico, which we believe will add significant value to the group. We will provide a further update on these potential acquisitions in due course, provided we are successful in negotiating acceptable terms.”
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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.
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.
Original Article: http://www.ariansilver.com/news/expiry-of-option-over-tailings-project