Andover Ventures (TSXV:AOX) ( OTCBB:AOVTF) Reports 16.5 Metre Intercept of 6.6% Copper Equivalent in Alaska - Video Summary Posted on www.investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, July 27, 2011 - Andover Ventures (TSXV:AOX)
(OTCBB:AOVTF) (Frankfurt:R2X) has announced the assay results from the first two
drill holes of its 2011 drill program on the Sun Property. The Sun Property is
located in northwest Alaska, and falls within the Ambler Mining District. The
company has a 100% interest in the 17,980 acre property.
InvestmentPitch.com has produced a "video news alert" about Andover Ventures. If
this link is not enabled, please visit www.investmentpitch.com and enter
"Andover" in the search box.
Drill hole Sun 11-24, showed at 16.5 metre intercept, starting just 67.5 metres
below surface. Highlights from this intercept include 1.6% copper, 3.49% lead,
10.25% zinc, 86.6 grams per tonne silver and .24 grams per tonne gold.
At these grades, and using current U.S. dollar metal prices of $4.45 for copper,
$1.22 for lead, $1.13 for zinc, $40.94 for silver, and $1,619.80 for gold, the
copper equivalent of this 16.5 metre intercept is approximately 6.56% copper,
assuming 100% metallurgical recovery.
Bradley C. Peek, Andover's General Manager for the Sun Project, stated, "Drill
hole Sun11-24 was drilled into the heart of the Sun Deposit and filled an area
of the deposit that had received almost no historical drilling. The results
confirm the grade, thickness and continuity of the deposit through this
important zone."
Brian K Jones, who headed up the 2011 Sun geological team and who worked in the
Ambler District for Kennecott Copper Corporation in the 1980's and who has
studied many similar Volcanogenic Massive Sulfide Deposits throughout the State
of Alaska commented, "The Sun 11-24 is an amazing drill intercept, one of the
best I have ever seen".
Assay results from drill hole Sun11-28, which is also located in the central
portion of the Sun Deposit and drill holes Sun11-25, Sun11-26 and Sun 11-27, all
of which served to extend the known VMS mineralization at the SW Sun Deposit,
are pending and will be released as they are received.
The Sun deposit now has a known strike length of more than one kilometre and is
open to the northeast and down dip. The adjacent SW Sun Deposit has a strike
length of more than one-half a kilometre and is open to the southwest and down
dip.
Drill hole Sun 11-23A tested the northeast, down dip edge of the Sun Deposit.
From 230 to 248 meters the drill hole intersected approximately 10 to 12 narrow
pyritic lenses of (VMS) mineralization. Here, the deposit is pinching down
rapidly and this is reflected in the results.
With the completion of the 2011 drill program, 76 holes (approximately 49,000
feet) have been drilled on the property. Andover drilled 27 of these holes, with
the other 49 drilled by previous operators, including Anaconda, Noranda,
Sunshine Mining Company, Cominco and Bear Creek Mining Company.
Based on Anaconda's historic prefeasibility study, which is not 43-101
compliant, and therefore should not be relied upon, the Sun deposit ranks among
the world's largest underdeveloped copper-zinc deposits.
For a more information on Andover Ventures, which also has a significant project
in Utah, please visit their website at www.AndoverVentures.com or contact
Richard Martens at 604-682-2168 or email info(at)andoverventures.com
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating, hosting, and distributing financial video content across multiple
platforms to investors and financial professionals.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 27.07.2011 - 22:43 Uhr
Sprache: Deutsch
News-ID 56780
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