Vancouver, British Columbia--(Newsfile Corp. - October 3, 2013) - Andover Mining
(TSXV: AOX) (OTCBB: AOVTF) has released an initial resource estimate for its SUN
Project in the Ambler Mineral Belt, Alaska, one of the richest and most
prospective copper mineral belts located in one of the safest geopolitical
jurisdictions in the world.
InvestmentPitch.com has produced a "video news alert" based on this news. If this link is
not enabled, please visit www.InvestmentPitch.com and enter "Andover" in the search box.
If you cannot view the video above, please visit:
http://www.investmentpitch.com/video/0_abqhy6nu/Andover-Mining-TSXV-AOX-releases-initial-resource-estimate-for-its-SUN-Project-in-Alaska
Using a cut-off of $75 per tonne in ground value, the combined
Main SUN and Southwest SUN Deposits Indicated Resources are estimated at 2.165
Million Tonnes at 1.42% copper, 1.06% lead, 4.11% zinc, 57.6 grams per tonnes
silver, and 0.21 grams per tonne gold. This is equivalent to a grade of 3.9%
copper.
The additional Inferred Resources are 11.648 Million Tonnes at
1.14% copper, 1.37% lead, 3.91% zinc, 76.8 grams per tonne silver and 0.24 grams
per tonne gold. This also works out to a 3.9% copper equivalent.
Kent Turner, Andover's COO stated, "These results validate
Andover's efforts over the past 7 years, and clearly show that the SUN and
Southwest SUN Deposits represent a very significant mineral resource by any
standards. At this size, with the excellent continuity apparent within the
deposits and the very high in-ground metal values, the SUN and Southwest SUN
Deposits clearly have all the earmarks of a potentially major economically
significant resource."
Gordon Blankstein, CEO, and Chairman added, "Receipt of this
Report is very exciting news for Andover Mining. The Sun Deposits are now shown
to have the kind of high grades necessary for development in Alaska. With the
contained metal content and copper-equivalent we believe the SUN project
represents one of the larger undeveloped polymetallic VMS resources in the
world."
For more details, the NI 43-101 report will be available on
Sedar.com.
Through its 83.5% ownership of Chief Consolidated Mining
Company, Andover is engaged in the exploration and development of approximately
18,000 acres of mining properties located in the prolific East Tintic Mining
District of Utah, adjacent to the historic mining city of Eureka.
Andover currently trades at $0.07 and with approximately 122
million shares outstanding, is capitalized at $8.5 million.
For a more information on Andover Mining, please visit their
website at www.AndoverMining.com or contact
Richard Martens at 604-682-2168 or email rick@andovermining.com.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a
combined solution for creating and hosting financial video content, and
distributing it across multiple platforms to investors and financial
professionals, specializes in producing short three minute videos based on
significant news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
copyright (c) newsfile corp. 2013. all rights reserved