Welcome To The Andean Resources HUB On AGORACOM
Focused on the exploration and development of gold projects in Patagonia, Argentina.
Message: Cerro Negro Drilling and Exploration Update
| April 13, 2009 | |||
| Andean Resources: Cerro Negro Drilling and Exploration Update | |||
|
PERTH, AUSTRALIA--(Marketwire - April 13, 2009) - Andean Resources (TSX:AND)(ASX:AND) is pleased to report further encouraging results from its ongoing 2008/09 drilling and exploration programs at its 100% owned Cerro Negro project in Southern Argentina. Today's results include the following highlights: - Deeper drilling continues to extend the Eureka West veins: -- 50m to the west with EDD-944 - 6m of 10.3g/t Au and 123g/t Ag -- 50m to depth with EDD-939 - 12m of 12.3 g/t Au and 71 g/t Ag - Regional exploration success discovers new gold vein at the previously undrilled Bajo Negro prospect, (13km south east of Eureka) -- BRC- 904 intersected 6m of 11.8 g/t Au and 14g/t Ag from 111m - New silver veins intersected by drilling at Mariana Sur - New Resource upgrade on track for completion in May 2009 Reported widths are intersected widths, and true widths are less in every case (see Table 1 for detailed drill data). Andean has assumed an underground cut-off grade of 2.5 g/t gold at Eureka and Bajo Negro for all the interval summaries reported in this release. Eureka West Veins - Step-out holes continue to expand the resource Deep step-out drilling at the Eureka West veins (see longitudinal projections, Figures 1, 2, and 5) continues to provide encouraging results including: EDD-939: 12m of 12.3 g/t Au and 71 g/t Ag from 421m This drill hole intersected the vein at about the 250masl (meters above sea level) on the 200E section and is the deepest intersection with assays on the property to date. It will expand the existing resource to depth and are shown on Figures 2 and 5. EDD-944: 6m of 10.3g/t Au and 122.5 g/t Ag from 408m This drill-hole was a further step-out hole on section 200W, 50m west of the previous drilling, and intersected the Eureka West vein at the 350masl elevation. The deposit remains open to the west and deeper drilling is warranted. Infill drilling continues to confirm the grade and continuity of the Eureka West veins and the results shown on the longitudinal sections (Figures 2 and 5) and in Table 1. Bajo Negro - New Vein Discovery Since the start of the year and at the completion of the infill drilling campaign at the Eureka West veins, Andean's exploration team have used one drill rig to test some of their highest priority targets on the highly prospective Cerro Negro land position. The Bajo Negro vein is located 13 kilometers east of the Eureka West veins and 2 km south-west of the Vein Zone deposit (see Figure 1). The previously mapped Bajo Negro vein displayed only sporadic surface outcrop extending over 100m in a north-westerly direction. Trenching and surface sampling resulted in a range of gold grades from anomalous to 3 g/t gold and increased the known strike length to 350m. Five RC holes have been drilled on four sections across the vein, with 100 meter spacing between sections (Figure 3). The mineralization remains open to the north-west, south-east and at depth, with further exploration planned to commence immediately. The following intersections suggest a possible north-west plunging ore shoot over at least 300 meters long: BRC-901: 3m of 5.1 g/t Au and 13 g/t Ag from 113m And 1m of 11.3 g/t Au and 162 g/t Ag from 128m BRC-902: 2m of 4.5 g/t Au and 10 g/t Ag from 151m BRC-903: 5m of 7.3g/t Au and 24g/t Ag from 184m BRC-904: 2m of 17.7g/t Au and 24g/t Ag from 95m And 6m of 11.8g/t Au and 14g/t Ag from 111m BRC-905: 7m of 8.6g/t Au and 16g/t Ag from 104m (Including: 1m of 26.2g/t Au and 31g/t Ag) Mariana Sur (South) - Drilling of high-grade silver veins Epithermal quartz fissure veins occur within the southwestern portion of the Mariana Sur prospect area, developed over a presently recognized 200 m wide by 700 m long, northwest-trending structural corridor, about 3km east of the Eureka vein system (Figure 1). These en-echelon veins represent high-level, structurally controlled mineralization within the Eureka-Mariana volcanic-hosted, low sulfidation, epithermal system. The veins display massive, brecciated and locally banded structures, range up to two meters in thickness on the surface, and are hosted within andesitic volcanic breccias. Four holes were drilled in 2008 to test these veins, and the results, while low in gold values, contained several high silver values: MRC-801: 6m of 144 g/t Ag from 182m
MRC-802: 1m of 328 g/t Ag from 47m and
1m of 376 g/t Ag from 112m
MRC-803: 1m of 175 g/t Ag from 80m and
2m of 472 g/t Ag from 203m
MRC-804: 1m of 2,082 g/t Ag from 122m
Next Steps Currently two drill-rigs are focused on: - Expanding Bajo Negro to depth and along strike, - Exploring a recently discovered quartz vein, intersected in a condemnation drill hole beneath the potential location for the processing facility located approx 1 km to the west of the Eureka West veins.; - Follow-up drilling at Mariana Sur Andean is also investigating the possibility of deep drilling on a skid-mounted core rig through the winter season, focusing on extending the Eureka West veins to depth, to the west and to the east. Progress on New Resource Statement A new resource estimate, compliant with JORC and National Instrument 43-101, is currently being prepared by Mine Development Associates of Reno, Nevada, based on drilling performed prior to this release on the Eureka vein system. The new Resource will update the previous April 2008 Resource published by Andean and will include, for the first time, mineral resource estimates for not only the Eureka West veins but also the 721 Vein and Eureka Main Vein. The new Resource statement is expected to be completed in the first half of May 2009 and will form the basis of the ongoing bankable feasibility that will be completed in the fourth quarter. Wayne Hubert, President and CEO, commented, "These two new drill indicated vein discoveries point to the superior exploration potential of the Cerro Negro claim block. The exploration team continues to identify new and exciting targets for us to drill in the near future, including a newly discovered banded vein 2km to the north-east of the new Mariana Sur veins. " Table 1: Drill Hole Data
Eureka West Vein intersections (at a 2.5 g/t Au cut-off)
----------------------------------------------------------------------------
Hole Easting Northing Elev- Azi- Angle From To Width g/t g/t
ation muth (m) (m) (m) Au Ag
(true)
----------------------------------------------------------------------------
ERC-912 2394082 4808073 668 45 -67 367 368 1 8.1 25
----------------------------------------------------------------------------
EDD-913 2393940 4808333 680 45 -58 224.6 252.2 27.6 5.6 169
--------------------------------
253.25 255.3 2.05 3.6 161
--------------------------------
256.7 257.5 0.8 2.6 122
--------------------------------
280 284.3 4.3 5.7 83
--------------------------------
285 286.3 1.3 7.3 20
--------------------------------
297 298 1 2.8 50
--------------------------------
300 302 2 16.6 191
----------------------------------------------------------------------------
ERC-914 2394118 4808050 662 45 -62 333 338 5 2.7 40
----------------------------------------------------------------------------
EDD-926 2394097 4808178 645 45 -74 258.9 274 15.1 12.4 251
----------------------------------------------------------------------------
EDD-931 2393973 4808179 654 45 -64 325.7 331 5.3 12.7 107
--------------------------------
342 343 1 5.6 94
--------------------------------
350 354 4 3.1 35
--------------------------------
370.2 371.4 1.15 4.4 104
----------------------------------------------------------------------------
EDD-935 2394076 4808078 669 45 -68 388.3 389 0.7 4.0 35
----------------------------------------------------------------------------
EDD-939 2394036 4808107 672 45 -74 349.5 353.9 4.35 6.5 28
--------------------------------
396 397 1 4.4 20
--------------------------------
410 412 2 3.4 17
--------------------------------
414 416 2 3.9 7
--------------------------------
421 433 12 12.3 71
--------------------------------
436 438.3 2.3 3.7 69
--------------------------------
451.8 460 8.25 5.3 138
----------------------------------------------------------------------------
EDD-944 2393747 4808386 714 45 -62 108 114 6 10.3 122.5
----------------------------------------------------------------------------
Bajo Negro (at a 1 g/t Au cut-off grade)
----------------------------------------------------------------------------
Hole Easting Northing Elev- Azi- Angle From To Width g/t g/t
ation muth (m) (m) (m) Au Ag
(true)
----------------------------------------------------------------------------
BRC-901 2407382.75 4804997 903.381 245 -55 109 110 1 4.6 3.30
--------------------------
113 116 3 5.1 12.97
--------------------------
128 130 2 7.2 92.35
----------------------------------------------------------------------------
BRC-902 2407467.38 4804938.9 896.295 245 -50 151 153 2 4.5 10
----------------------------------------------------------------------------
BRC-903 2407465 4804938 896 245 -65 184 189 5 7.3 24
----------------------------------------------------------------------------
BRC-904 2407470 4804839 889 245 -55 95 97 2 17.67 24
--------------------------
102 103 1 5.2 7
--------------------------
104 106 2 6.5 7
--------------------------
111 117 6 11.8 14
--------------------------
119 120 1 3.3 10
----------------------------------------------------------------------------
BRC-905 2407509.17 4804743.8 882 245 -55 104 111 7 8.6 16
----------------------------------------------------------------------------
Mariana Sur (at a 100g/t Ag cut-off grade)
----------------------------------------------------------------------------
Hole Easting Northing Elevation Azimuth Angle From To Width g/t
(true) (m) (m) (m) Ag
----------------------------------------------------------------------------
MRC-801 2398303 4807894 667.76 360 -60 182 188 6 144
----------------------------------------------------------------------------
MRC-802 2398548 4807685 685.52 45 -60 47 48 1 328
--------------------------
112 113 1 376
----------------------------------------------------------------------------
MRC-803 2398796 4807661 671.06 225 -50 80 81 1 175
--------------------------
203 205 2 472
----------------------------------------------------------------------------
MRC-804 2398650 4807786 683.13 45 -60 122 123 1 2082
----------------------------------------------------------------------------
(1) Intersections are drilled widths, not true widths.
(2) Some coordinates and elevations are approximate and subject to
final survey by a licensed surveyor
Quality Control and Assurance The analytical results quoted in this release are derived from half drill core in the case of diamond drill holes, or from cuttings in the case of reverse circulation holes. Samples are prepared and assayed by ACME Analytical Laboratories SA (Mendoza) in Mendoza, Argentina. Gold is determined initially by fire assay with AA finish. Samples assaying more than 10 ppm gold are re-assayed using a gravimetric finish. Silver is determined initially by AAS, and samples assaying more than 100 ppm silver are re-assayed by fire assay with gravimetric finish. Quality control of the analytical results is maintained by inserting standards, blanks, and duplicates into the sample run, approximately every twenty samples. Additional quality control is maintained by sending assay sample splits to a second laboratory from time to time. These checks are evaluated statistically at regular intervals. All analytical data are entered into a Microsoft Access database, with limited access and numerous checks to ensure integrity of the data. Note: The information in this Report that relates to exploration results is based on information provided by David Shatwell who is a Fellow of the Australian Institute of Geoscientists. Mr Shatwell has extensive experience relevant to the style and type of mineralisation and deposits under consideration, and to the activity undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves" (the JORC Code). Mr Shatwell consents to the inclusion in this Report on his work in the form and context in which it appears. Andean Resources Ltd (www.andean.com.au) is an Australian and Toronto listed gold explorer searching for precious metals in the Andes, with four large property positions in the Patagonia. To view figure 1, please visit the following link: http://media3.marketwire.com/docs/an... To view figure 2, please visit the following link: http://media3.marketwire.com/docs/an... To view figure 3, please visit the following link: http://media3.marketwire.com/docs/an... To view figure 4, please visit the following link: http://media3.marketwire.com/docs/an... To view figure 5, please visit the following link: http://media3.marketwire.com/docs/an... A.C.N. 064 494 319 |
Loading...
Loading...
New Message
Please
login
to post a reply