better late than betterAndina Minerals Inc.: Volcan Drilling Outlines Ojo de Agua Area Gold Zone Over 500 Metres
Tue Jul 10, 8:30 AM
TORONTO, ONTARIO--(CCNMatthews - July 10, 2007) - ANDINA Minerals Inc. (TSX VENTURE: ADM.V) ("Andina") is pleased to report that exploration drilling in the Ojo de Agua area of its 100%-owned Volcan property, Region III, Chile, has confirmed the presence of a significant zone of gold mineralization, the Andrea Zone, over a strike length in excess of 500 metres (To view the Figure 1 map, please visit the following link: https://www.ccnmatthews.com/docs/andinafigure1.pdf). Drill results include 82 metres grading 0.73 grams per tonne gold ("g/t Au") from DODA-685 including a 26 metre interval grading 1.51 g/t Au.
"We are very encouraged with the exploration results from the Ojo de Agua area", said Carl B. Hansen, President and CEO of Andina. "With only minor drilling within the large Ojo de Agua alteration area, we have outlined another significant zone of gold mineralization on the Volcan property. Considering the geological similarities between Ojo de Agua and the Dorado area, where Andina has discovered three gold deposits to date, we will be reviewing plans to significantly expand our Phase IV exploration campaign in order to determine the potential of the Andrea Zone as well as follow up on other recently defined Ojo de Agua exploration targets. The Phase IV exploration program is scheduled to commence in October 2007.
Ojo de Agua Results
Both the Ojo de Agua and Dorado areas are overlain by large steam-heated alteration zones which in the case of Ojo de Agua covers an area in excess of six square kilometres. The recent Ojo de Agua drilling tested the upper levels of the Andrea Zone following up on encouraging results from two holes, RODA-634 (104 metres grading 0.81 g/t Au) and RODA-630 (28 metres grading 0.54 g/t Au), reported by Andina on February 20, 2007. The Andrea Zone displays some similarities to Volcan's Dorado area gold deposits with local brecciation and minor banded grey to black quartz veins and veinlets, however, further drilling is necessary to determine the nature of the gold mineralization.
An induced polarization geophysical survey, completed after the Ojo de Agua drilling was completed, shows that the Andrea Zone gold mineralization is spatially associated with a weak chargeability anomaly (To view the Figure 1 map, please visit the following link: https://www.ccnmatthews.com/docs/andinafigure1.pdf). Two stronger chargeability anomalies, located west of the Andrea Zone, represent significant targets to be tested during the next exploration campaign tentatively scheduled to commence during October 2007.
In addition to the Andrea Zone drilling, Andina drilled a further four exploration drill holes in the Ojo de Agua area which did not return significant results including holes DODA-687 and RODA-680 which were abandoned at relatively shallow depths due to poor ground conditions. Drill hole RODA-684, which was collared on the eastern margin a high chargeability anomaly, was drilled to the south away from the core of the anomaly and did not return any significant results.