Andover Announces Discovery of a Second New Massive Sulfide System at Its Wholly Owned Sun District, Ambler Mineral Belt
24.09.2012 | Marketwire
VANCOUVER, 09/24/12 - Andover Mining Corp. ("Andover" or the "Company") (TSX VENTURE: AOX) (OTCBB: AOVTF) (FRANKFURT: R2X) is pleased to report the discovery of a second new copper, lead, zinc, silver and gold rich massive sulfide system in the SUN District in the Ambler Mineral Belt, northwest Alaska.Assays have been received from drill hole SAL12-01, which targeted outcropping mineralization that was mapped and sampled by Andover's field team during this year's reconnaissance efforts at the SUN District. The STU and SAL targets are two of six new potential targets identified during the 2012 drill program. These reconnaissance efforts were previously reported in the new release dated August 8, 2012.
The SAL target area is located approximately 8.5 kilometers west of the Main SUN and S.W. SUN Deposits and over 0.5 kilometers from the recently announced STU discovery (see news release dated September 17, 2012). Drill hole SAL12-01 was completed on August 20, 2012. It is not known how the STU and SAL discoveries may relate to each other. They both occur in areas of limited outcrop exposure. Assay results are summarized in the following table:
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Inter- True
Angle/ TD From To val Width Cu Pb Zn Ag Au
DDH ID # Bearing (m) (m) (m) (m) (m) (%) (%) (%) (g/T) (g/T)
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SAL-12-01 -90/000 91.7 16.5 19.2 2.7 2.1 0.69 0.84 2.99 19.9 0.126
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No follow-up drilling was done at SAL during 2012.
"We are very pleased with the results from this drill test. SAL12-01 represents a second new massive sulfide discovery in the SUN District in 2012, completely outside of the more well known Main SUN and S.W. SUN Deposit areas," says Kent Turner, Andover's Chief Operating Officer. "Combined with the discovery at STU, Andover's reconnaissance efforts during 2012 have been very successful in identifying new massive sulfide systems in this emerging district. While we will continue with our efforts to bring the Main SUN and S.W. SUN Deposits in to fully National Instrument 43-101 compliant resources and Preliminary Economic Assessment, we will also be developing plans to further pursue the STU and SAL discoveries and to test other un-drilled exploration targets developed during this season's efforts in 2013."
"I am very enthused about the STU and SAL discoveries," says Brad Peek, Andover's Manager of the Ambler Mining Belt projects. "They demonstrate the tremendous untapped potential of the Sun District and provide exciting possibilities for next season's exploration work."
The 2012 drill core was logged, split and boxed on site by Andover's geologists. The core from SAL was shipped to the ALS-Chemex Prep Lab in Fairbanks, Alaska. The pulps from Fairbanks were analyzed for 35 elements at the ALS-Chemex facilities in Vancouver, British Columbia and the gold assays were performed at ALS-Chemex facilities in Reno, Nevada. Base metal over-limits were wet assayed. Blanks and standards were inserted with each sample shipment.
This news release has been reviewed by Bradley C. Peek, Certified Professional Geologist (AIPG CPG-11299) and General Manager for Andover's Ambler District projects. Mr. Peek is a National Instrument 43-101 qualified person and is responsible for the technical aspects of this news release.
About Andover:
Andover is a precious and base metal exploration and development company focused on copper exploration at its flagship asset, the SUN District, located in the Ambler Mineral Belt, Northwest, Alaska. The Ambler Mineral Belt hosts world-class VMS deposits containing copper, zinc, lead, gold and silver. The Ambler Mineral Belt is one of the richest and most-prospective copper mineral belts located in one of the safest geopolitical jurisdictions in the world. Andover controls approximately 36, 800 acres through sole ownership of 230 Alaska State mining claims in the SUN District and approximately 9,120 acres through sole ownership of 57 Alaska State claims in the Smucker area of the Ambler Mineral Belt.
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 replacement deposit, has completed a PEA and is preparing this deposit and the Trixie gold mine toward exploitation. Chief owns fee simple approximately 16,000 acres in Utah.
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
rick@andovermining.com
www.andovermining.com