Arianne Resources Inc. («Arianne» or «Company») wishes to inform its shareholders about the 2008 exploration results as well as its corporate refocusing for 2009.
Strategic vision : with an exploration budget of more than $ 1.5 M for the end of 2008 and the beginning of 2009 and given the recent turbulence in stock markets, the management of Arianne is currently proceeding with an thorough evaluation of all its active projects in order to focus its efforts and resources on the projects that show the highest potential for the short and medium term. The Company took this important decision in order to maximize the return on its exploration investments and enhance shareholder value. Also, the exceptional current price levels of certain minerals, namely, phosphorous, iron and titanium combined with a very favorable long term outlook for these markets, convinced Arianne to refocus its activities towards the industrial minerals sector :
- Industrial Minerals : Part of the Company’s funds reserved for exploration will be used towards the development of the apatite/ilmenite (phosphorous/titanium) deposits North of Lac St-Jean. Drilling will start very soon in order to confirm and increase the resources and to qualify these resources as 43-101 compliant. The prices of apatite concentrates increased tenfold in one year and now justifies the reactivation of the Lac à Paul project.
- Gold and metals : The Opinaca project in James Bay, remains the most promising gold project of the Company. The majority of the drill holes performed on the Contact, Bull and Chino zones (more than 10,000 m) intersected significant gold values. The last drill hole from the 2008 drilling campaign on the Chino zone returned grades up to 14.58 g/t Au on 5.4 m (April 10, 2008 press release). Other projects such as La Dauversière (Chibougamau) and Heva East and West (Cadillac Fault, Abitibi) remain interesting and strategicaly located and will be developed according to market conditions.
- Uranium : The follow-up of our uranium properties on Quebec’s North Shore did not produce significant results. Given the high cost of exploration in this area, Arianne is puting these projects on hold.
Gold and silver exploration on our Mexican properties will continue in 2009 through Oroplata Exploration Inc, a company that will be listed on the TSX-V before the end of the year. Oroplata Exploration Inc is a Spin-Off from
Arianne and will purchase the Mexican properties.
2008 exploration results : the following are the highlights of the exploration works that took place last summer :
- La Dauversière (R-14) : 10 drill holes for a total of 1,482 m. Many significant intersections : 3.43 g/t Au on 1 m, 5.52 g/t Au on 1.1 m, 2.33 g/t Au on 0.8 m and 1.65 g/t Au on 0.6 m. A new zone was discovered by drilling, a tonalite that returned 0.394 g/t Au on 28.1 m.
- Hygrade : 7 drill holes for a total of 1,214 m. No significant intersections.
- Massicotte/Detour Lake : 1 drill hole. This campaign was cancelled due to a major technical problem. Assays are pending. Alternative solutions have to be found in order to resume drilling in 2009.
- Lac H : On this project in partnership with SOQUEM, 5 mechanical striping, sampling and geological maping took place. Assays are pending.
- Héva-East : 3 drill holes for a total of 405 m. An intersection returned 1.14 g/t Au on 1.5 m in drill hole HEE-08-03.
Arianne Resources is a Canadian exploration company with the primary mission to explore, outline and develop gold, silver and industrial minerals deposits in Canada and in Mexico. The content of this press release was prepared by Mr. Bernard Lapointe, géo., Qualified Person as of NI 43-101.
Investors are invited to visit Arianne’s investor relations site at www.agoracom.com/IR/Arianne in order to ask questions and get answers or read the questions and answers posted by investors. Also, investors can their questions or information requests to à DAR@agoracom.com and they can also ask to be included on the Company’s e mail list in order to receive future news releases in real time.