Andean American samples 18 m of 3.47 g/t Au at Invicta
2007-12-11 10:07 ET - News Release
Mr. John Huguet reports
ANDEAN AMERICAN MINING CORP.: UNDERGROUND SAMPLING OF 3400 LEVEL CROSSCUT INTERSECTS SIGNIFICANT GOLD AT THE INVICTA PROJECT, PERU
Andean American Mining Corp. has provided initial results from underground sampling of the 3,400-level crosscut on the Atenea vein, at the Invicta property in Peru.
The 3,400-level adit is being driven parallel to, and in the hangingwall of, the Atenea vein structure to provide access to drill test the Atenea vein at a depth below 3,400-metre elevation. The anticipated total length of the 3,400-level adit is 600 metres. The adit has presently been advanced to 215 metres length and a crosscut of approximately 200 metres has been driven off to the north from the 200-metre point. The Atenea vein structure was intersected at approximately 150 metres in the crosscut, with apparent widths of 18 m and 15.5 m exposed in the west and east walls respectively. True widths are estimated to be approximately 85 per cent of the apparent widths. In both walls, there are zones of higher grade mineralization adjacent to the north and south contacts.
PANEL SAMPLING RESULTS
West wall East wall
18.0 m (full width) 15.55 m (full width)
3.47 g/t Au 2.16 g/t Au
36.9 g/t Ag 42.9 g/t Ag
0.80% Cu 0.92% Cu
0.93% Pb 1.15% Pb
0.82% Zn 0.81% Zn
Including (south side) Including (south side)
7.0 m 6.0 m
5.74 g/t Au 4.14 g/t Au
48.5 g/t Ag 46.6 g/t Ag
1.33% Cu 1.12% Cu
1.93% Pb 2.68% Pb
1.66% Zn 1.58% Zn
and and
4.0 m (north side) 2.6 m (north side)
3.86 g/t Au 2.33 g/t Au
67.5 g/t Ag 117.5 g/t Ag
0.87% Cu 1.53% Cu
0.52% Pb 0.43 Pb
0.35% Zn 0.25% Zn
A tunnel of approximately 80 metres length has been driven along the Atenea vein to the east and short crosscuts of approximately 15 m to 20 m length have been made at 20-metre intervals. These crosscuts are being mapped and sampled. Mineralization is continuous over the 80 m of strike length and remains open in both directions.
The Atenea vein mineralization consists of a quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite in the quartz. The sulphides are generally coarse grained and vary from disseminated to massive. Breccia fragments are chiefly altered andesite. Both the footwall and hangingwall contacts are sharp and defined by a zone of fault gouge. The bounding faults dip to the south at between 60 and 70 degrees.
The 3,400-level adit intersected massive andesite, cut by quartz veinlets ranging in width for one centimetre to 40 cm. The crosscut intersected the same massive andesite and medium grained diorite, with weak chlorite and epidote alteration and traces of disseminated pyrite. In the crosscut both rock types are cut by nine quartz veins ranging in width from two cm to 1.5 m, which trend subparallel to the Atenea vein structure. Assays for these veins ranged from background to peak values of 14.98 grams per tonne (g/t) Au, 136.0 g/t Ag, 3.39 per cent Cu, 9.64 per cent Pb and 24.77 per cent Zn, generally over narrow widths. The connection, if any, of these hangingwall veins with the main Atanea vein has yet to be determined.
The Atenea vein has been traced for over 350 metres on surface and to a depth of approximately 350 metres, and 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 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 filed on SEDAR and dated July 24, 2007.
The Atenea vein 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.
We seek Safe Harbor.