Andean samples 15.45 m of 1.3 g/t Au, 55.3 g/t Ag
2008-01-07 09:46 ET - News Release
Mr. John Huguet reports
ANDEAN AMERICAN MINING CORP.: UNDERGROUND DEVELOPMENT CONTINUES TO ENCOUNTER SIGNIFICANT WIDTHS AND GRADES AT THE INVICTA PROJECT, PERU
Andean American Mining Corp. has provided results from sampling of crosscut 1S on the 3,400-level adit on the Atenea vein structure, at the Invicta property in Peru.
The 3,400-level adit is being driven at the 3,400-metre elevation parallel to, and in the hangingwall of, the Atenea vein structure, to provide access to drill test the Atenea vein structure below the 3,400 m level. The anticipated total length of the 3,400-level adit is 600 metres. A crosscut of approximately 200 metres has been driven north from the 200-metre point. The Atenea vein structure was intersected at approximately 150 metres in the crosscut, and with widths of 18 m and 16 m for the west and east walls, respectively (see news in Stockwatch on Dec. 11, 2007).
A tunnel of approximately 80 metres length has been driven along the Atenea vein structure to the east, and four short crosscuts of approximately 15 m to 20 m length have been made at 20-metre intervals. The crosscuts are designed to determine the width of the Atenea vein structure and provide access for mapping and sampling. Mineralization is continuous over the 80 m of strike length and remains open in both directions. Results have been received for crosscut 1S, the first crosscut. True widths are estimated to be 85 per cent of the apparent widths.
SIGNIFICANT INTERSECTIONS
West wall East wall
15.45 m 14.0 m 1.31 g/t Au 5.17 g/t Au 55.3 g/t Ag 78.7 g/t Ag 1.53% Cu 2.06% Cu 2.26% Pb 2.32% Pb 1.42% Zn 0.72% Zn
These intersections are consistent with those previously reported in the access crosscut and confirm the potential of the Atenea vein structure in this area to be significantly wider than that estimated from drilling.
The Atenea vein structure consists of quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite. The quartz varies from white to grey, and displays acicular crystals, cockade textures and open-spaced filling, with rare vugs lined with quartz crystals to five-centimetre size. The sulphides within the quartz vary from disseminated to massive. The bounding faults dip to the south at between 60 and 70 degrees.
The 3,400-level adit intersected massive andesite and medium grained diorite, with weak chlorite and epidote alteration and traces of disseminated pyrite. The diorite and the andesite in the crosscut are both cut by nine quartz veins ranging in width from two cm to 1.5 m, which trend subparallel to the Atenea vein structure. On surface, the Atenea structure has been traced for over 350 metres and has been traced by drilling to a depth of approximately 350 metres. The structure remains open along strike and to depth.
The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 grams per tonne (g/t) Au, 18.3 g/t Ag and 0.45 per cent Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53 per cent Cu in the inferred category. Resource estimates are from the National Instrument 43-101 Invicta technical report dated July 24, 2007.
The Atenea structure is the most advanced target of eight identified in the Invicta property, which covers 22,200 hectares. The company is very pleased with the initial results of the underground exploration program and additional results will be released as they are received.
Andrew Gourlay, PGeol, president of Andean American Mining, is a qualified person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay's supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accedited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to shipment from site to monitor the quality control of the analytical data.
We seek Safe Harbor. |