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ADM 2007-01-03 (provided courtesy of CCNMatthews .)
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ANDINA Minerals Inc.: Volcan Phase III Drilling Results Confirm Potential of West Zone
Infill Drilling Returns 162 Metres Grading 1.93 g/t Gold
TORONTO, ONTARIO--(CCNMatthews - Jan. 3, 2007) - ANDINA Minerals Inc. (TSX
VENTURE:ADM)("Andina") is pleased to announce the first results from it's
40,000 metre, Phase III Volcan Gold Project exploration program which
commenced in late October 2006. The first set of assay results, which are
summarized in Table 1 and Table 2 (attached), confirm the continuity of the
gold mineralization, both along strike and down-dip, within the West Zone
and demonstrate the potential for the discovery of additional gold
mineralization north of the limits of the existing resource estimate
(Andina September 18, 2006 release).
/T/
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Table 1 Significant Drill Assay Results (Jan 3, 2007)
-----------------------------------------------------------
Hole # Section From To Distance(1) Grade(2)
(metres) (metres) (metres) (g/t Au)
-----------------------------------------------------------
DOA-601 700 264 332 68 1.24
-----------------------------------------------------------
including 286 310 24 2.34
-----------------------------------------------------------
ROA-604 250 290 438 148 1.72
-----------------------------------------------------------
including 332 438 106 2.09
-----------------------------------------------------------
including 368 430 62 2.58
-----------------------------------------------------------
DOA-605 500 180 266 86 0.71
-----------------------------------------------------------
546 604 58 1.01
-----------------------------------------------------------
ROA-608 550 4 166 162 1.93
-----------------------------------------------------------
260 300 40 0.60
-----------------------------------------------------------
ROA-609 400 78 120 42 1.44
-----------------------------------------------------------
DOA-610 850 104 224 120 1.14
-----------------------------------------------------------
(1) All intervals represent downhole lengths and not true widths
(2) Assay composite intervals are based upon a 0.5 g/t gold cut off grade
/T/
Infill Drilling Confirms West Zone Continuity
The first results from the infill drilling program successfully
demonstrated the excellent continuity of the West Zone gold mineralization
between sections 200 and 700. Reverse circulation ("RC") drill hole,
ROA-604, returned 148 metres grading 1.72 grams per tonne gold ("g/t Au"),
with a higher grade core of 62 metres grading 2.58 g/t Au, confirming the
continued depth extension of the mineralization on section 250. The zone,
which remains open to depth, is anticipated to be wider as the last 2 metre
interval from the drill hole graded 2.90 g/t Au.
Further, RC drill hole ROA-608 established the continuity of mineralization
between sections 500 and 600, with an intercept of 162 metres grading 1.93
g/t Au starting at a depth of 4 metres. An additional hole has been drilled
to confirm the down dip continuity of the mineralization cut in ROA-608.
Results are pending.
A single infill RC drill hole, ROA-602, collared on section 300, returned
no significant results. ROA-602 was collared to test the possibility that
the western branch of the West Zone, intercepted in RC hole ROA-02 (42
metres grading 0.95 g/t Au) expanded as it neared surface. The result will
not have any significant negative impact.
Extensional Drilling Demonstrates West Zone's Northern Potential
Diamond drill hole DOA-610, collared on section 850, confirmed the
extension of the West Zone 150 metres north the northern limit of the
existing resource, with a drill intercept of 120 metres grading 1.14 g/t
Au. The intercept occurs within a broader 326 metre zone of anomalous gold
mineralization extending from surface which grades 0.61 g/t Au. The
potential for continued expansion of the West Zone to the north is
significant and the area will be a target for extensive drilling during
2007. At the end of the Phase II program, Andina drilled a single hole,
DOA-11, 550 metres north of section 850 which returned an interval of 100
metres grading 1.10 g/t Au.
As anticipated, drill holes ROA-603 and ROA-607, drilled on sections 150
and 100 respectively, confirmed that the West Zone does not extend
significantly south of section 200.
Volcan Gold Project Summary
The 9,490 hectare Volcan Gold Property is centrally located in Chile's
Maricunga Gold Belt approximately 170 kilometres east of the Copiapo and 23
kilometres northeast of Kinross Gold's Refugio mine. The main focus of the
extensive Phase III drill program is delineation and definition drilling in
the Dorado area which hosts the existing indicated resource of 1.44 million
ounces of gold (43.9 million tonnes grading 1.02 g/t Au) and inferred
resource of 1.16 million ounces of gold (37.2 million tonnes grading 0.97
g/t Au). In addition to the Dorado area drilling, a number of additional
exploration targets will also be tested during the Phase III program,
including the Andrea Zone located in the Ojo de Agua area.
Gold mineralization within the Dorado area of the Volcan Gold Property
occurs within structurally controlled breccias developed within a
dominantly porphyritic quartz diorite intrusive. Andina has identified main
three zones of mineralization to date: the East Zone, the Central Zone and
the West Zone.
About Andina Minerals Inc.
Andina is an Americas-focused exploration company, with a portfolio of
precious metals exploration projects in Chile, dedicated to maximizing the
value of its exploration assets through a disciplined and fiscally
responsible approach to exploration.
The September 2006 Volcan Gold Project resource estimate was carried out
under the supervision of Michael Easdon, a Registered Professional
Geologist resident in Santiago, Chile and an "Independent Qualified Person"
as defined by National Instrument 43-101 Standards of Disclosure for
Mineral Projects ("NI43-101"). Mr. Easdon is also the "Qualified Person"
for the Volcan exploration program as defined by NI43-101.
The reverse circulation ("RC") chips and diamond drill core from Andina's
drill Volcan drilling campaigns were collected at the drill under the
direct supervision of Andina staff. RC samples of approximately 70
kilograms in weight were collected over 2 metre intervals. Both the RC
samples and drill core were appropriately tagged, secured and transported
to the Andina exploration camp and then to Andina's secure sample logging
and preparation site near Copiapo, Chile. RC chip samples were riffle split
twice to obtain a 15 kilogram sample for assay purposes. Representative
chips were collected from each sample for logging purposes. Drill core is
logged, marked at two metre intervals for sampling and split longitudinally
with a diamond drill saw. One half of the core is bagged and sample tags
attached and the second half of the core is returned to the core boxes. All
samples were appropriately tagged and securely stored prior to shipping to
Asesoria Minera Geoanalitica Ltda.'s ("Geoanalitica") laboratory in La
Serena, Chile.
Samples are processed and analyzed for gold using fire assay techniques
with atomic absorption finish. Samples which returned gold values greater
than 1.00 g/t Au are re-analyzed by Geoanalitica using fire assay
techniques with a gravimetric finish. Duplicate samples are inserted at a
rate of approximately 5%. Andina also inserts standard samples within each
sample batch to ensure laboratory quality control procedures. Occasionally
Andina requests Geoanalitica send samples to ALS Chemex in La Serena, Chile
for 47 trace element analysis using ICP.
A 43-101 compliant Technical Report titled "Technical Report on the Volcan
Gold Project. Region III, Chile" filed November 2006 at www.sedar.com
summarizes Andina's September 2006 Volcan resource estimate. Previous
technical reports relating to the Volcan Gold Project have also been filed
on the SEDAR web site. Further, all reports are available on the Company's
website noted below.
FORWARD LOOKING STATEMENTS
This release contains forward-looking statements, including predictions,
projections and forecasts. Forward-looking statements include, but are not
limited to, statements with respect to exploration results, the success of
exploration activities generally, permitting time lines, government
regulation of exploration and mining operations, environmental risks, title
disputes or claims, limitations on insurance coverage and the timing and
possible outcome of any pending litigation. Often, but not always,
forward-looking statements can be identified by the use of words such as
"plans", "planning", "expects" or "does not expect", "continues",
"scheduled", "estimates", "forecasts", "intends", "potential",
"anticipates", "does not anticipate", or "belief", or describes a "goal",
or variation of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.
Forward-looking statements involve known and unknown risks, future events,
conditions, uncertainties and other factors which may cause the actual
results, performance or achievements to be materially different from any
future results, prediction, projection, forecast, performance or
achievements expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual results of
current exploration activities; changes in project parameters as plans
continue to be refined; future prices of gold and copper; possible
variations in grade or recovery rates; failure of equipment or processes to
operate as anticipated; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of exploration, as well as those factors disclosed in the
company's publicly filed documents. Although Andina has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
/T/
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Table 2 - Summary of Phase III West Zone Drill Assay Results (Jan 03, 2007)
---------------------------------------------------------------------------
Hole # Section From To Length Grade Note
(metres) (metres) (metres) (g/t Au)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
DOA-601 700 234 264 30 0.41
---------------------------------------------------------------------------
264 332 68 1.24
---------------------------------------------------------------------------
including 286 310 24 2.34
---------------------------------------------------------------------------
408 440 32 0.46
---------------------------------------------------------------------------
ROA-602 300 no significant assays
---------------------------------------------------------------------------
ROA-603 150 no significant assays
---------------------------------------------------------------------------
ROA-604 250 290 438 148 1.72 ends in mineralization
---------------------------------------------------------------------------
including 332 438 106 2.09 ends in mineralization
---------------------------------------------------------------------------
including 368 430 62 2.58
---------------------------------------------------------------------------
including 384 402 18 3.33
---------------------------------------------------------------------------
DOA-605 500 160 180 20 0.40
---------------------------------------------------------------------------
180 266 86 0.71
---------------------------------------------------------------------------
282 314 32 0.41
---------------------------------------------------------------------------
546 604 58 1.01
---------------------------------------------------------------------------
604 620 16 0.49 ends in mineralization
---------------------------------------------------------------------------
ROA-606 200 108 146 38 0.40
---------------------------------------------------------------------------
212 236 24 0.56
---------------------------------------------------------------------------
ROA-607 100 no significant assays
---------------------------------------------------------------------------
ROA-608 550 4 166 162 1.93
---------------------------------------------------------------------------
260 300 40 0.60 ends in mineralization
---------------------------------------------------------------------------
ROA-609 400 62 78 16 0.41
---------------------------------------------------------------------------
78 120 42 1.44
---------------------------------------------------------------------------
DOA-610 850 0 104 104 0.24
---------------------------------------------------------------------------
104 224 120 1.14
---------------------------------------------------------------------------
224 282 58 0.25
---------------------------------------------------------------------------
282 326 44 0.49
---------------------------------------------------------------------------
/T/
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
ANDINA Minerals Inc.
Carl Hansen
President and CEO
(416) 203-3488
Website: www.andinaminerals.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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