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Andean American drills 14 m of 18.45 g/t Au at Invicta
2007-07-24 13:11 ET - News Release
Mr. John Huguet reports
ANDEAN AMERICAN MINING CORP.: DIAMOND DRILL HOLE AE-DDH-07-30 INTERSECTS 14.25M GRADING 18.45 G/T GOLD AND 18.50M GRADING 2.87% COPPER AT THE INVICTA PROJECT, PERU
Andean American Mining Corp. has received assays for the interval from 123.5 metres to 180.2 metres. Drill hole AE-DDH-07-30 intersected porphyritic medium-grained andesite and a structure of brecciated andesite cemented with multiple quartz veins. The quartz veins vary from white to light grey, and commonly display open space filling with well-developed quartz crystal terminations.
SIGNIFICANT INTERSECTIONS
From To Interval Gold Silver Copper
m m m g/t g/t %
145.95 160.20 14.25 18.45 18.02 0.46
159.22 177.75 18.50 2.13 56.12 2.87
All the samples were submitted to CIMM Labs in Lima, Peru, for prep and analytical work. CIMM Labs is a certified and accredited laboratory of international standards.
The mineralized structure contains abundant hematite alteration and up to 40 per cent sulphides as blebs of pyrite and chalcopyrite. The sulphide blebs are composed of masses of very fine-grained pyrite and chalcopyrite, and blebs range in size from one millimetre to 10 mm diameter. The distribution of the anomalous gold values and anomalous copper values suggests two separate mineralizing events.
Drill hole AE-DDH-07-30 is the first new infill drill hole that will upgrade inferred resources on the Atenea vein to measured and indicated resources. Core recoveries averaged 97.85 per cent. Quality control and quality assurance programs are in place equal to all National Instrument 43-101 standards.
AE-DDH-07-30
Sample From To Width Au g/t Ag g/t Cu % Pb % Zn %
000146 139.55 140.55 1.00 0.15 33.5 1.85 0.08 0.13
000147 140.55 141.55 1.00 0.38 74.9 1.84 0.03 0.06
000148 141.55 142.44 0.89 0.33 22.0 1.36 0.04 0.10
000149 142.44 143.44 1.00 0.02 0.6 0.01 0.00 0.11
000150 143.44 144.44 1.00 -0.01 -0.5 0.00 0.00 0.08
000151 144.44 145.95 1.51 0.22 -0.5 0.02 0.00 0.06
000152 145.95 146.95 1.00 31.92 19.4 0.13 0.24 0.67
000153 146.95 147.95 1.00 1.41 16.5 0.49 0.36 0.12
000154 147.95 148.95 1.00 31.23 8.6 0.16 0.05 0.08
000156 148.95 149.95 1.00 28.13 5.4 0.07 0.01 0.04
000157 149.95 150.95 1.00 21.03 34.1 0.46 0.04 0.07
000159 150.95 151.95 1.00 27.61 34.3 1.03 0.24 0.42
000161 151.95 153.00 1.05 3.15 15.5 1.20 0.21 0.07
000162 153.00 154.00 1.00 13.50 11.3 0.40 0.02 0.06
000163 154.00 155.23 1.23 42.56 22.2 0.30 0.01 0.06
000164 155.23 156.23 1.00 9.43 5.0 0.07 0.02 0.06
000165 156.23 157.22 0.99 0.25 4.4 0.20 0.19 0.06
000166 157.22 158.22 1.00 7.83 10.1 0.38 0.09 0.06
000167 158.22 159.22 1.00 25.83 21.1 0.16 0.05 0.05
000168 159.22 160.20 0.98 9.31 43.9 1.44 0.38 0.67
000169 160.20 161.20 1.00 0.34 19.6 1.04 0.22 0.36
000170 161.20 162.20 1.00 1.31 42.3 1.67 0.06 0.02
000171 162.20 163.20 1.00 0.50 48.8 4.18 0.53 0.64
000172 163.20 164.20 1.00 1.39 43.4 2.72 0.18 0.41
000173 164.20 165.20 1.00 1.81 55.3 1.13 0.09 0.05
000174 165.20 165.95 0.75 0.35 28.4 1.37 0.18 0.20
000176 165.95 166.70 0.75 0.54 46.5 3.09 2.16 1.18
000177 166.70 167.80 1.10 0.35 157 3.05 21.78 2.51
000179 167.80 168.80 1.00 0.86 18.7 0.96 0.06 0.05
000180 168.80 169.80 1.00 2.56 51.3 2.46 0.04 0.03
000182 169.80 170.80 1.00 1.66 88.4 5.89 0.04 0.03
000183 170.80 171.80 1.00 0.92 33.7 2.50 0.05 0.03
000184 171.80 172.80 1.00 2.05 61.2 4.48 0.03 0.03
000185 172.80 173.80 1.00 11.47 183 4.24 0.03 0.02
000186 173.80 174.80 1.00 0.64 41.7 1.86 0.02 0.03
000187 174.80 175.75 0.95 0.38 20.0 1.31 0.02 0.02
000188 175.75 176.75 1.00 0.40 14.1 0.82 0.04 0.04
000189 176.75 177.75 1.00 2.02 19.4 1.48 0.02 0.01
000190 177.75 178.75 1.00 0.18 9.5 0.12 0.01 0.02
000191 178.75 179.35 0.60 0.41 41.4 0.64 0.04 0.07
139.55 179.35 39.80 7.38 34.85 1.46 0.73 0.22
At Invicta the diamond drill program continues to upgrade the inferred resources to the measured category and results will be released as they are received. There are currently two drills working on the property with an additional two machines programmed for the end of the month. A minimum of 3,500 metres of drilling will be completed at the Atenea vein system. In addition, approximately 7,200 metres of drilling will commence on the Ydalia vein and zones 4, 5, 7, Azulmina and Manuel structures, which have not been drill tested. Further work currently being done includes a 150-tonne metallurgical sample being taken at 3,587 metres and a three by three m exploration adit being drifted at 3,400 metres which will be enlarged to 4.2 m by 4.5 m for exploitation. This 600 m long adit is advancing at 150 m per month. This will facilitate deeper exploration and possibly initial production.
A geophysical survey comprising 80 line kilometres of ground magnetometry has been completed over the Atenea and Ydalia vein systems and an 80-line-kilometre induced polarization survey has commenced. Regional mapping and sampling will evaluate geochemical and satellite anomalies, and other reported mineralized showings on the 16,900-hectare Invicta property.
Current measured and indicated resources total 4.8 million tonnes grading 3.58 g/t gold, 33.46 g/t silver and 0.68 per cent copper with additional inferred resources of 8.3 million tonnes with a grade of 2.14 g/t gold, 15.10 g/t silver and 0.47 per cent copper per NI 43-101 technical report of October, 2006.
The NI 43-101 technical report outlined additional geological potential of 14 million tonnes averaging 2.82 g/t Au, 34.13 g/t Ag, 1.16 per cent Cu, 0.54 per cent Zn and 0.49 per cent Pb.
Andrew Gourlay, PGeo, is the qualified person for the technical information in this news release.
Andean American drills 14 m of 18.45 g/t Au at Invicta
2007-07-24 13:11 ET - News Release
Mr. John Huguet reports
ANDEAN AMERICAN MINING CORP.: DIAMOND DRILL HOLE AE-DDH-07-30 INTERSECTS 14.25M GRADING 18.45 G/T GOLD AND 18.50M GRADING 2.87% COPPER AT THE INVICTA PROJECT, PERU
Andean American Mining Corp. has received assays for the interval from 123.5 metres to 180.2 metres. Drill hole AE-DDH-07-30 intersected porphyritic medium-grained andesite and a structure of brecciated andesite cemented with multiple quartz veins. The quartz veins vary from white to light grey, and commonly display open space filling with well-developed quartz crystal terminations.
SIGNIFICANT INTERSECTIONS
From To Interval Gold Silver Copper
m m m g/t g/t %
145.95 160.20 14.25 18.45 18.02 0.46
159.22 177.75 18.50 2.13 56.12 2.87
All the samples were submitted to CIMM Labs in Lima, Peru, for prep and analytical work. CIMM Labs is a certified and accredited laboratory of international standards.
The mineralized structure contains abundant hematite alteration and up to 40 per cent sulphides as blebs of pyrite and chalcopyrite. The sulphide blebs are composed of masses of very fine-grained pyrite and chalcopyrite, and blebs range in size from one millimetre to 10 mm diameter. The distribution of the anomalous gold values and anomalous copper values suggests two separate mineralizing events.
Drill hole AE-DDH-07-30 is the first new infill drill hole that will upgrade inferred resources on the Atenea vein to measured and indicated resources. Core recoveries averaged 97.85 per cent. Quality control and quality assurance programs are in place equal to all National Instrument 43-101 standards.
AE-DDH-07-30
Sample From To Width Au g/t Ag g/t Cu % Pb % Zn %
000146 139.55 140.55 1.00 0.15 33.5 1.85 0.08 0.13
000147 140.55 141.55 1.00 0.38 74.9 1.84 0.03 0.06
000148 141.55 142.44 0.89 0.33 22.0 1.36 0.04 0.10
000149 142.44 143.44 1.00 0.02 0.6 0.01 0.00 0.11
000150 143.44 144.44 1.00 -0.01 -0.5 0.00 0.00 0.08
000151 144.44 145.95 1.51 0.22 -0.5 0.02 0.00 0.06
000152 145.95 146.95 1.00 31.92 19.4 0.13 0.24 0.67
000153 146.95 147.95 1.00 1.41 16.5 0.49 0.36 0.12
000154 147.95 148.95 1.00 31.23 8.6 0.16 0.05 0.08
000156 148.95 149.95 1.00 28.13 5.4 0.07 0.01 0.04
000157 149.95 150.95 1.00 21.03 34.1 0.46 0.04 0.07
000159 150.95 151.95 1.00 27.61 34.3 1.03 0.24 0.42
000161 151.95 153.00 1.05 3.15 15.5 1.20 0.21 0.07
000162 153.00 154.00 1.00 13.50 11.3 0.40 0.02 0.06
000163 154.00 155.23 1.23 42.56 22.2 0.30 0.01 0.06
000164 155.23 156.23 1.00 9.43 5.0 0.07 0.02 0.06
000165 156.23 157.22 0.99 0.25 4.4 0.20 0.19 0.06
000166 157.22 158.22 1.00 7.83 10.1 0.38 0.09 0.06
000167 158.22 159.22 1.00 25.83 21.1 0.16 0.05 0.05
000168 159.22 160.20 0.98 9.31 43.9 1.44 0.38 0.67
000169 160.20 161.20 1.00 0.34 19.6 1.04 0.22 0.36
000170 161.20 162.20 1.00 1.31 42.3 1.67 0.06 0.02
000171 162.20 163.20 1.00 0.50 48.8 4.18 0.53 0.64
000172 163.20 164.20 1.00 1.39 43.4 2.72 0.18 0.41
000173 164.20 165.20 1.00 1.81 55.3 1.13 0.09 0.05
000174 165.20 165.95 0.75 0.35 28.4 1.37 0.18 0.20
000176 165.95 166.70 0.75 0.54 46.5 3.09 2.16 1.18
000177 166.70 167.80 1.10 0.35 157 3.05 21.78 2.51
000179 167.80 168.80 1.00 0.86 18.7 0.96 0.06 0.05
000180 168.80 169.80 1.00 2.56 51.3 2.46 0.04 0.03
000182 169.80 170.80 1.00 1.66 88.4 5.89 0.04 0.03
000183 170.80 171.80 1.00 0.92 33.7 2.50 0.05 0.03
000184 171.80 172.80 1.00 2.05 61.2 4.48 0.03 0.03
000185 172.80 173.80 1.00 11.47 183 4.24 0.03 0.02
000186 173.80 174.80 1.00 0.64 41.7 1.86 0.02 0.03
000187 174.80 175.75 0.95 0.38 20.0 1.31 0.02 0.02
000188 175.75 176.75 1.00 0.40 14.1 0.82 0.04 0.04
000189 176.75 177.75 1.00 2.02 19.4 1.48 0.02 0.01
000190 177.75 178.75 1.00 0.18 9.5 0.12 0.01 0.02
000191 178.75 179.35 0.60 0.41 41.4 0.64 0.04 0.07
139.55 179.35 39.80 7.38 34.85 1.46 0.73 0.22
At Invicta the diamond drill program continues to upgrade the inferred resources to the measured category and results will be released as they are received. There are currently two drills working on the property with an additional two machines programmed for the end of the month. A minimum of 3,500 metres of drilling will be completed at the Atenea vein system. In addition, approximately 7,200 metres of drilling will commence on the Ydalia vein and zones 4, 5, 7, Azulmina and Manuel structures, which have not been drill tested. Further work currently being done includes a 150-tonne metallurgical sample being taken at 3,587 metres and a three by three m exploration adit being drifted at 3,400 metres which will be enlarged to 4.2 m by 4.5 m for exploitation. This 600 m long adit is advancing at 150 m per month. This will facilitate deeper exploration and possibly initial production.
A geophysical survey comprising 80 line kilometres of ground magnetometry has been completed over the Atenea and Ydalia vein systems and an 80-line-kilometre induced polarization survey has commenced. Regional mapping and sampling will evaluate geochemical and satellite anomalies, and other reported mineralized showings on the 16,900-hectare Invicta property.
Current measured and indicated resources total 4.8 million tonnes grading 3.58 g/t gold, 33.46 g/t silver and 0.68 per cent copper with additional inferred resources of 8.3 million tonnes with a grade of 2.14 g/t gold, 15.10 g/t silver and 0.47 per cent copper per NI 43-101 technical report of October, 2006.
The NI 43-101 technical report outlined additional geological potential of 14 million tonnes averaging 2.82 g/t Au, 34.13 g/t Ag, 1.16 per cent Cu, 0.54 per cent Zn and 0.49 per cent Pb.
Andrew Gourlay, PGeo, is the qualified person for the technical information in this news release.