Arian Silver (AGQ-V, AGQ-L) has upgraded resources at the Tepal gold-copper property in Michoacan state, Mexico.
The company says it has moved about 36% of its inferred resource to the indicated category.
Indicated resources now stand at nearly 25 million tonnes grading 0.54 gram gold per tonne and 0.27% copper for a total of 440,000 oz. of contained gold and 147.1 million oz. copper.
Left in the inferred category is 54.96 million tonnes grading 0.41 grams gold per tonne and 0.22% copper for 720,000 oz. gold and 265.4 million lbs. copper.
The Tepal porphyry deposit is on a 140-sq.-km property which the company plans to systematically explore.
The resources so far are based on drilling in two different porphyry zones known as North and South. The North zone is open to the northwest while the South zone is open to the south.
A third zone has been discovered about 1.5 km east of the South zone but was not included in the resource estimate.
Arian is currently working on an in-house scoping study for Tepal.
The company has other silver development projects in Zacatecas state, with a focus on short-term silver production.
Arian shares were unchanged at 11 apiece today with a trading volume of 387,000 shares and 131.6 million shares outstanding.
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