Andover Mobilizes Drill and Crew to Sun Property, Alaska for 2012 Program
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/31/12 -- Andover Mining Corp. ("Andover" or the "Company") (TSX VENTURE: AOX)(OTCBB: AOVTF)(FRANKFURT: R2X) is pleased to announce that the mobilization for its 2012 drill program at the SUN project, the Company's 100% owned copper-silver-lead-zinc-gold VMS (Volcanogenic Massive Sulfide) prospect in the Ambler Mining District of Alaska USA is underway.
The Company's 100% owned SUN property is located on approximately 36,800 acres of land at the Eastern end of the Ambler Mining District in Northwest Alaska. The Ambler District, as recognized by Metals Economics Group, is one of the world's largest undeveloped copper-zinc districts. The SUN Deposit is generally accepted to be the second largest known deposit within the district - the largest is NovaCopper's Artic Deposit in the central part of the district and the smallest in size is Teck Resources' Smucker Deposit at the western end of the belt.
Airbridge Engineering of Indian, Alaska has been retained to provide the mobilization for Andover for 2012. This work program began in mid-May and includes annual refurbishment of the Company's camp; moving in all camp supplies, drill equipment and fuel for the camp, aircraft operations and fixed-wing aircraft support throughout the program; and demobilization of both the drills and camp. Andover maintains a 25-man camp at the SUN project consisting of living quarters, a core-logging facility, geological office, mess facility, shower and laundry facilities, generator, shop and tool storage, indoor and outdoor core storage and a 1500-foot airstrip. John Spencer has been retained to perform the duties of Camp Manager for the 2012 season.
Andover has signed a contract with Core One Drilling Inc. ("Core One") of Delta, Colorado, to provide two drill rigs for the 2012 drill season. One rig will drill NQ2 diameter core focused at the Main SUN and S.W. SUN Deposits. The second drill, a man portable drill, will drill BTW core on some of the Company's exploration targets. The 2012 program has a preliminary budget of approximately $3.5 million USD and is anticipated to run from May until September 2012.
The 2012 SUN drilling program with the NQ2 core drill will be an estimated 21 hole, 19,000 foot, drill program designed to further extend and delineate the Main SUN Deposit and to extend and further test the S.W. SUN Deposit. The Main SUN Deposit and the S.W. SUN Deposits have had 76 drill holes or approximately 49,000 feet of historic drilling. Andover drilled 27 of these 76 holes; the other drill holes were done by previous operators, including Anaconda, Noranda, Sunshine Mining Company, Cominco and Bear Creek Mining Company, (Kennecott/Rio Tinto). In this 2012 exploration program, the Main SUN Deposit will have an expected additional 16 drill holes totaling approximately 15,000 feet, and the S.W. SUN Deposit will have an additional 5 drill holes totaling approximately 4,000 feet. Drilling priorities may change as the season progresses and drilling results are received.
The results of our 2012 drilling program at the SUN Deposit and S.W. SUN Deposit are expected to add substantial resources to the property's resource base.
The Company will utilize a man-portable drill capable of drilling BTW core to a depth of approximately 490 feet. This drill will be used to conduct exploration drilling on the 16 kilometers of strike length that has yet to be drill tested by Andover Mining Corp. The Picnic Creek area located to the North of the Main SUN Deposit will also be tested by this drill program. The man-portable drill is estimated to drill approximately 700 - 800 feet per week.
Planning for the 2012 drill locations at the Main SUN Deposit and S.W. SUN Deposit were done by Andover's management and Mine Development Associates ("MDA") of Reno, Nevada, to maximize projected results. Previous drill assays, logs and data were analyzed and deposit modeling was performed using past drill holes completed by Andover, Anaconda, Cominco, Sunshine and Noranda. This preparatory work enabled the Company to more effectively locate the drill holes for the 2012 drill season and allow MDA to complete a new resource calculation for the Main SUN Deposit following the completion and analysis of the results from the 2012 drill season.
The 2012 work program will also consist of an Aerial Lidar producing a 1-Meter Bald Earth Digital Elevation Model, a 1-Meter full feature (highest hit) Digital Terrain Model, an Intensity Image of the Full (first return) Surface, 1m contours and the Metadata from the project.
This program will be conducted by Eagle Mapping Inc. of Bellingham, Washington USA. Both the 36,800 acres of land around the SUN Deposit as well as the Company's 9,120 acres at the western portion of the district by Teck Resources Inc's Smucker Deposit will be flown by Eagle. The area of interest around the Smucker Deposit is approximately 75 sq km's and approximately 82 sq km's around the SUN Deposit.
The 2012 program at the SUN will be performed under the supervision of Andover's management team spear headed by Mr. Brad Peek, Andover's General Manager for the Ambler District projects. Mr. Peek has over 35 years of experience in the mineral exploration industry.
Andover's COO, Kent Turner comments, "We look forward to continuing to explore one of the most exciting copper VMS districts in North America. Although we have a lot of work to do on the SUN Deposit and the S.W. SUN Deposit as we continue to advance the project, the high grade nature of the deposits, the low geopolitical risk of the District, the support of the State of Alaska and local Alaska Native Corporation (NANA) and the fact that NovaCopper Inc. and Teck Resources Inc. are the additional stakeholders in the district, gives us confidence that we can create significant value for our shareholders from the SUN Deposit."
About Andover:
Andover is a precious and base metal exploration and development company focused on copper exploration at its flagship asset, the SUN project, located in the Ambler Mining District, Northwest, Alaska. The Ambler District hosts world-class VMS deposits containing copper, zinc, lead, gold and silver. The Ambler District is one of the richest and most-prospective copper districts located in one of the safest geopolitical jurisdictions in the world. In Utah, Andover, through its 83.5% ownership of Chief Consolidated Mining Company whose lands located in the historic East Tintic Mining District, has a multi faceted development approach. The Big Hill project, where Kennecott Exploration Company can earn a 55% interest by carrying Chief through to the end of a Feasibility Study is focused on a large porphyry copper prospect. The Burgin Complex, host to a limestone, silver lead zinc deposit has completed a PEA and is preparing this deposit and the Trixie gold mine toward exploitation.
For further information we invite you to visit us at www.andovermining.com.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Andover Mining Corp.
Richard Martens
Investor Relations
1-604-682-2168 or Int'l Toll Free: 1-800-266-4484
1-604-682-2169 (FAX)
rick@andovermining.com
www.andovermining.com