Andover Mining Corp. V.AOX

are they still on the property... they should ...

[dosco]

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Tuesday, 25 November 2014 |

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HOME > COMPANIES / DATA > COMPANY RELEASES

Andover Subsidiary Chief Commences Drilling on Big Hill Project

Wednesday , 22 Jan 2014 Andover Mining Corp.

January 21, 2014, Vancouver, B.C. – ANDOVER MINING CORP. (“Andover” or the “Company”) (AOX-TSX: V) (AOVTF-United States) (R2X-Frankfurt Exchange) subsidiary, Chief Consolidated Mining Company (“Chief”), approximately 83.5% owned by Andover, announced today that drilling has commenced on the Big Hill copper porphyry project. Kennecott Exploration Company (Kennecott) has contracted Tona Tec to carry out the drilling.

Under the terms of the agreement between Chief and Kennecott, Kennecott may earn a 51% interest in the Big Hill project by completing a Pre-feasibility Study or incurring U.S. $20,000,000 in expenditures, whichever occurs first, and an additional 4% interest by funding all project costs until delivery of a Feasibility Study accepted by Rio Tinto plc. Chief is carried on 45% interest until the completion of the Feasibility Study.

Further information on the project will be released as the data is received from Kennecott.

The Company also reports at the company’s Annual General Meeting (“AGM”) held December 20, 2013 the shareholders approved all resolutions put before them by management including the election of Messrs. Blankstein, Hensley, Lajack, Legault, McKee, Schauer and Young.

Management proxy information regarding the Company’s 2013 AGM may be found on the Company’s SEDAR profile at www.sedar.com.