Andover Mining (TSXV:AOX) Covered in Report issued by Haywood Securities and Discussed in Video on Investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, January 17, 2013 - Andover Mining (TSXV:AOX) was
covered in a junior exploration report issued by Haywood Securities. The report
focused on Andover's flagship asset, the 100% owned Sun VMS project in the
Ambler mining district of northwestern Alaska.
This video, describing Andover Mining, is now available for viewing. If this
link is not enabled, please visit www.investmentpitch.com and enter "Andover" in
the search box.
The company acquired the Sun property through an option earn-in agreement, which
was completed in March 2007, for total consideration of $13 million.
The Sun property covers 36,800 acres and hosts VMS mineralization in up to four
separate horizons, up to 31 metres in thickness. Andover has also staked 9,120
acres in the metavolcanic belt surrounding Teck's Smucker deposit, located to
the west of Sun.
Past exploration work, prior to 2012, includes the completion of 76 drill holes.
Haywood's report discusses the historical prefeasibility study that was competed
by Anaconda Copper Mining Company in 1977, when copper traded at a fraction of
the current price. Anaconda's non-compliant NI 43-101 report outlined
significant historical open-pit resources of 2.2 million tonnes, and historical
underground resources of 16.2 million tonnes of copper, zinc, lead and silver.
These resources are described in more detail in the video.
Andover's $3.5 million 2012 exploration program, included 14,265 feet of diamond
drilling in 20 holes, and the resampling of historic drill core (19 mineralized
intercepts from 12 drill holes). Specific highlights include 11.5 metres grading
3.00% copper, 2.43% zinc, 0.54% lead, 43.6 grams per tonne silver, and 0.43
grams per tonne gold in hole SUN-12-39.
Andover expects to bring Sun's historical resources into NI 43-101 compliance
during the first quarter on 2013, and is working toward the completion of a
Preliminary Economic Assessment for the first half of 2013.
In December, the Alaskan Governor announced details of the State's 2013 budget,
which includes $8.5 million earmarked for the roughly $400 million, 110 mile
Ambler Mining District Road, which will provide access via the Dalton Highway.
Andover currently trades at $0.19, and with approximately 110 million shares
outstanding, is capitalized at $21 million.
For a more information on Andover Mining, and its East Tintic poly metallic
property in Utah, please visit their website at www.AndoverMining.com or contact
Richard Martens at 604-682-2168 or email rick(at)andovermining.com.
InvestmentPitch.com specializes in producing short three minute videos based on
research reports and significant news releases, as well as a producing a library
of educational video modules that can be filmed by financial advisors for use as
introductory and lead generation tools. The company also produces corporate
video interviews and captures live presentations at investment conferences and
other special venues.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 17.01.2013 - 18:25 Uhr
Sprache: Deutsch
News-ID 220756
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