Andover Reports 16.5 Meter Intercept of 6.6 % Copper Equivalent in Initial Results From The 2011 Drill Program at Sun Property Alaska
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/27/11 -- Andover Ventures Inc. ('Andover' or the 'Company') (TSX VENTURE: AOX)(OTCBB: AOVTF)(FRANKFURT: R2X), is pleased to announce the assay results from the first two drill holes of its 2011 drill program on the Sun Property located in the Ambler Mining District, Northwest, Alaska. Drill holes Sun11-23A and Sun11-24 were completed in June 2011 at depths of 316.4 and 157.3 meters, respectively.
The 2011 drill core was split on site by Company staff and sent for assay at ALS Minerals located in Vancouver, British Columbia, Canada. The core was analyzed for a 35 element ICP-AA analysis with gold and silver fire assayed with an AA finish. Base metal overlimits were wet assayed. Blanks and standards were inserted with each sample shipment.
The assay results for drill hole Sun 11-24 are outlined in the following table. The average for the 16.5 meter intercept (true thickness of 15.2 meters) is shown below.
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Drill Hole From (m) To (m) Interval (m) Cu % Pb % Zn % Ag g/T Au g/T
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Sun11-24 67.5 84 16.5 1.60 3.49 10.25 86.6 0.24
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Includes the following;
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Sun11-24 67.5 68.6 1.1 3.19 0.59 3.62 122.0 0.510
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Sun11-24 68.6 70.0 1.4 1.71 3.39 10.55 102.0 0.501
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Sun11-24 70.0 72.0 2.0 1.18 4.61 9.90 110.0 0.344
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Sun11-24 72.0 74.0 2.0 0.45 7.48 16.05 108.0 0.125
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Sun11-24 74.0 76.0 2.0 0.61 8.41 17.35 104.0 0.108
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Sun11-24 76.0 78.0 2.0 1.38 0.75 8.72 47.6 0.148
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Sun11-24 78.0 80.0 2.0 1.48 3.02 12.15 78.6 0.178
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Sun11-24 80.0 82.0 2.0 0.95 1.16 8.11 68.3 0.107
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Sun11-24 82.0 84.0 2.0 4.23 0.70 2.94 59.1 0.347
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At these grades and using today's metal prices of $US 4.4491/lb copper, $US 1.2224/lb lead, $US 1.1278/lb zinc, $US 40.94/oz silver and $US 1619.80/oz gold, the copper equivalent of this 16.5 meter 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 Sun11-24 is an amazing drill intercept, one of the best I have ever seen.'
Drill hole Sun11-23A 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. The best intercepts are:
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Drill Hole From (m) To (m) Interval (m) Cu % Pb % Zn % Ag g/T Au g/T
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Sun11-23A 232 233 1.0 0.41 0.65 2.42 33.6 0.56
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Sun11-23A 239 240 1.0 0.43 0.59 2.37 50.9 0.65
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Sun11-23A 246 248 2.0 0.19 0.23 0.88 12.5 0.21
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Larry Segerstrom, Andover's Chief Operating Officer, stated, 'We are very pleased with our initial results from the 2011 Sun Drill Program. We look forward to receiving the balance of the assays from the Sun Deposit and are anxious to see the results from the newly discovered S.W. Sun Deposit.'
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.
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; the others were drilled by previous operators, including Anaconda, Noranda, Sunshine Mining Company, Cominco and Bear Creek Mining Company.
The Sun Deposit now has a known strike length of more than one kilometer and is open to the northeast and down dip. The adjacent SW Sun Deposit has a strike length of more than 0.5 kilometers and is open to the southwest and down dip.
The above news release has been reviewed by Bradley C. Peek, Certified Professional Geologist (AIPG CPG-11299) and General Manager for the Sun Project for Andover Ventures. Mr. Peek is a National Instruments 43-101 Qualified Person and is responsible for the technical aspects of this press release.
About Andover:
Andover Ventures is a precious and base metal exploration and development company, headquartered in Vancouver, British Columbia, Canada. Andover Ventures' holdings are located in the historic East Tintic Mining District, Utah, USA, and the polymetallic-rich Ambler Mining District, Alaska, USA.
For further information we invite you to visit us at www.andoverventures.com.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
Neither the 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 Ventures Inc.
Richard Martens
Investor Relations
1-604-682-2168
Int'l Toll Free: 1-800-266-4484
www.andoverventures.com