MAI.V here's the news from last week. Shorts may bust it back again, in which case, I just might take advantage.
Minera Andes News Release 00-3
DRILLING UNDERWAY ON TWO ARGENTINA
GOLD/SILVER DISCOVERY TARGETS
SPOKANE, WA-January 19, 2000Exploration diamond core
and reverse-circulation drilling to probe for ore-grade
mineralization at depth has begun on two gold/silver
targets 100% owned by Minera Andes in southern Argentina.
Previous drilling by Minera Andes at both targets has
intersected ore-grade mineralization.
Saavedra West
Deep diamond core drilling began as scheduled on
January 15th at the Saavedra West disseminated gold/silver
target. Three 820-foot (250 m) diamond core holes are being
drilled to test a coincident IP (induced polarization) and
resistivity geophysical anomaly interpreted to indicate
increased silicification and sulfide content at depth. The
specific target at Saavedra West is a 3,280 foot-long
(1,000 m) by 1,640 foot-wide (500 m) anomaly about 328 feet
(100 m) below the surface.
Drilling thus far in the first deep test hole has
confirmed the coincident IP and resistivity geophysical
anomaly by intersecting silicified sulfide-rich rocks. The
gold and silver content of this zone is pending assay
results which should be available in early March. Previous
drilling by Minera Andes at Saavedra West was limited from
the surface to a depth of 100 meters. Five of these
shallower holes intersected high-grade gold and silver
mineralization in structurally controlled zones of
silicified, sulfide rich breccia. Assay results for the
previous five shallower holes are as follows:
HOLE # FEET GOLD SILVER
(oz/t) (oz/t)
EP-12 70 0.187 27.12
EP-13 45 0.02 15.3
includes 20 0.04 30.09
EP-15 15 0.04 4.55
EP-20 50 0.240 21.63
EP-21 20 1.79 48.02
Huevos Verdes
Reverse-circulation drilling began January 17th, four
days ahead of schedule, at Huevos Verdes, a high-grade vein
located about three miles (5 km) north of Saavedra West.
The drilling program will consist of up to 6,560 feet
(2,000 m) of reverse-circulation drilling designed to test
for further mineralization along strike to the northwest,
initial infill drilling of known mineralization and testing
at depth. Previous drilling by Minera Andes included 12
successful high-grade holes out of 19 drilled, and
established that the mineralized system is open along
strike in both directions, and at depth.
Minera Andes is a mining exploration corporation that
controls approximately 25 properties on about 402,000 acres
(163,000 hectares) of mineral exploration land in Argentina
and Romania. Most of the properties are located in the
Andean cordillera and primarily contain gold, silver and
copper mineralization targets. The Corporation is presently
pursuing the further development of its gold/silver
discovery property in Santa Cruz Province. Selected
opportunities in other countries are also under review.
For further information, please contact Arthur C.
Johnson, director of investor and public relations, or
Allen V. Ambrose, president, at the Spokane office, or
Krister A. Kottmeier, investor relations ? Canada, at the
Vancouver office. Visit our Web site: www.minandes.com
Spokane Office Vancouver Office
3303 N. Sullivan Road 1124 - 470 Granville Street
Spokane, WA 99216 USA Vancouver, B.C. V6C 1V5
Phone: (509) 921-7322 Phone: (604) 689-7017
E-mail: ajohnson@thefuture.net
E-mail: mineracan@thefuture.net
FORWARD-LOOKING STATEMENT?Although Minera Andes
believes many of its properties have promising potential,
its properties are in the early stages of exploration. None
have yet been shown to contain proven or probable mineral
reserves.
There can be no assurance that such reserves will be
identified on any property, or that, if identified, any
mineralization may be economically extracted.
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND
DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY
OF THIS RELEASE.
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