Andover Reports Final Results From the 2011 Drill Program at Sun Property Alaska
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/31/11 -- Andover Ventures Inc. ('Andover' or the 'Company') (TSX VENTURE: AOX)(OTCBB: AOVTF)(FRANKFURT: R2X), is pleased to announce the assay results from the one remaining drill hole of its 2011 drilling program on the Sun Property located in the Ambler Mining District, Northwest, Alaska. Drill hole Sun11-28 was completed in July 2011 at a depth of 154.5 meters. Assay results from the other five drill holes completed this year, Sun11-23A, Sun11-24, Sun11-25, Sun11-26 and Sun11-27 were reported in previous news releases.
The 2011 drill core was split on site by Company staff and sent for assay to ALS Minerals located in Vancouver, British Columbia, Canada. The core was analyzed for a 30 element ICP-AA analysis with gold and silver fire assayed with an AA finish. Base metal over-limits were wet assayed. Blanks and standards were inserted with each sample shipment.
Drill hole Sun11-28 was the last hole drilled during the 2011 drilling program at the Sun property. It tested a 250 meter wide gap in the previous drilling at the Sun Deposit. Significant intercepts from Sun11-28 are as follows:
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True
Inter- Thick-
From To val ness Ag Au
Drill Hole (m) (m) (m) (m) Cu (%) Pb (%) Zn (%) (g/T) (g/T)
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Sun11-28 57.45 68.00 10.65 10.01 2.56 0.81 4.47 63.8 0.216
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Sun11-28 124.75 125.00 0.25 0.23 11.40 0.29 2.50 244.0 1.540
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Sun11-28 was successful in proving continuity of thickness and grade through this important portion of the Sun Deposit. Significantly, the zone in Sun11-28 below the massive sulfide horizon contained abundant stringer chalcopyrite and sphalerite. The stringer zone, logged at depths of 65.55 - 72 meters (6.45 m), containing an average grade of 1.19% Cu, 0.20% Pb, 1.05% Zn, 22.0 g/T Ag and 0.003 g/T Au, is believed by the onsite geologists to indicate that the feeder zone for the Sun Deposit has been intersected.
The Sun Deposit now has a known strike length of more than one kilometer and is open to the northeast and down dip. There are now 50 drill holes that have intersected the mineralized zones of the Sun Deposit (not including S.W. Sun or the Picnic Creek area). Andover Ventures has retained Mine Development Associates of Reno, Nevada, an independent consulting firm, to complete a NI 43-101 compliant resource estimate for the Sun Deposit.
Anaconda, a previous operator of the Sun Project, had a four volume Pre-Feasibility Study completed on the Sun Deposit in September 1977 by Canadian Mine Services Ltd., Kilborn Engineering (B.C.) Ltd. and Swan Wooster Engineering Co Ltd. This Pre-Feasibility Study is historic in nature and a qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. However, Andover has no reason to believe that the data contained in the Anaconda Pre-Feasibility Study is not accurate.
Anaconda Historical Pre-Feasibility Study
Tons Silver Copper Lead Zinc
Open pit 2,399,000 2.39 opt 1.93% 1.20% 4.51%
Underground 17,891,000 2.37 opt 1.91% 1.18% 4.46%
The above report does not include the S.W. Sun Deposit, the Picnic Creek mineralized zone or any of Andover's drilling in 2007 and 2011. The 2007 drill program was successful in extending the Sun Deposit to the northeast an additional 300 meters into the 'Hot Zone' which included drill holes Sun07-8a, Sun07-15, Sun07-16 and Sun 07-17. These holes generally contained multiple intercepts. Select intercepts from the holes are shown below:
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Inter- Thick-
From val ness Ag Au
Hole No. (m) To (m) (m) (m) Cu (%) Pb (%) Zn (%) (g/T) (g/T)
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Sun 07-8a 85.34 88.80 3.46 3.40 1.20 5.00 10.20 226.0 0.482
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Sun 07-15 46.65 52.00 5.35 4.63 4.00 0.20 2.50 27.8 0.331
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Sun 07-16 148.25 151.60 3.35 1.15 4.10 1.30 3.80 70.8 0.123
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Sun 07-17 126.10 134.70 8.60 8.08 0.80 0.60 2.60 33.7 0.363
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The drill program planning for 2012 will include follow-up drilling to continue definition of this 'Hot Zone'.
The 2011 drilling included two holes into the 'heart' of the Sun Deposit in two areas that had seen little or no previous drilling. These were holes Sun11-24 and Sun11-28. The two holes were of great value in confirming the thickness and grade through zones that constitute a large percentage of the deposit's tonnage. Intercepts from Sun11-28 are shown above. Sun11-24 had a select intercept of:
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True
Inter- Thick-
From val ness Ag Au
Hole No. (m) To (m) (m) (m) Cu (%) Pb (%) Zn (%) (g/T) (g/T)
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Sun11-24 67.5 84 16.5 15.0 1.60 3.49 10.25 80.64 0.32
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In 2011 the drilling program, also succeeded in extending the S.W. Sun Deposit an additional 300 meters to the southwest and extended down dip the known mineralization from historic drilling. The drill holes that accomplished this are Sun11-25, Sun11-26 and Sun11-27. Select intercepts for these holes are as follows:
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True
Inter- Thick-
From val ness Ag Au
Hole No. (m) To (m) (m) (m) Cu (%) Pb (%) Zn (%) (g/T) (g/T)
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Sun11-25 155.00 159.00 4.00 3.86 1.13 1.27 4.88 46.3 0.229
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Sun11-25 174.00 180.00 6.00 5.64 0.67 0.06 0.26 4.7 0.117
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Sun11-26 228.00 237.30 9.30 7.12 0.41 1.57 4.79 164.2 0.248
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Including 232.85 237.30 4.45 3.41 0.48 2.18 5.11 304.6 0.395
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Sun11-27 159.00 164.00 5.00 3.58 2.10 0.35 1.23 231.1 0.619
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Including 159.00 160.60 1.60 1.15 6.08 1.08 3.81 692.9 1.792
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Sun11-27 210.00 210.50 0.50 0.36 8.10 1.08 4.57 43.2 0.049
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Bradley C. Peek, Andover's General Manager for the Sun Project states, 'Both the 2007 and the 2011 Andover drill programs added substantially to our understanding and to the size of the Sun Deposit. The planned 43-101 compliant resource estimate will expand our knowledge of the Sun Deposit and will help define where additional drilling is needed to move the Sun toward a future Preliminary Economic Assessment.'
Larry Segerstrom, Andover's COO states, 'Mine Development Associates work to complete a NI-43-101 complaint resource estimate and their assistance in planning our 2012 drill program will enable us to move quickly to a Preliminary Economic Assessment (PEA) on the main Sun Deposit.'
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 done by previous operators, including Anaconda, Noranda, Sunshine Mining Company, Cominco and Bear Creek Mining Company.
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
Contacts:
Andover Ventures Inc.
Richard Martens
Investor Relations
1-604-682-2168 or Int'l Toll Free: 1-800-266-4484
www.andoverventures.com