*** Gold/Copper related post (MNEAF/MAI.V) ***
Minera Andes commences drilling at Los Azules Project, Argentina - Previous drilling intersected 221 meters (725 ft) of 1.62% copper
Monday December 18, 5:04 pm ET
SPOKANE, WA, Dec. 18 /PRNewswire-FirstCall/ - Minera Andes (TSX-V: MAI and US OTC: MNEAF) is pleased to announce that drilling has commenced at the Los Azules porphyry copper system in the San Juan province, central Argentina. One core rig is on the property and another rig is anticipated within a week.
A total of 30 holes, totaling approximately 10,500 meters, are planned for the current campaign, commencing on the southern half of the mineralized copper target. The holes will be drilled to a depth of approximately 350 meters. This drilling will test a known area of leachable (chalcocite) and sulfide (chalcopyrite) copper mineralization currently defined by 15 previous drill holes. The area to be drilled covers approximately 2,500 by 750 meters. Holes will be drilled at a nominal grid spacing of 200 meters east-west and 400 meters north-south.
The exploration program is designed to define an inferred resource and provide sufficiently detailed information to allow the completion of a Preliminary Assessment (as defined by NI 43-101) of the property. To this end the engineering firm of Gustavson and Associates has been retained to monitor the program and prepare the NI 43-101 resource estimate and Preliminary Assessment report. The field work will be managed by Nivaldo Rojas and Associates under the supervision of Minera Andes' technical staff.
Core drilling in early 2006 (see Table 1) focused on an enriched copper target previously defined by prior drilling, an area approximately 2,500 meters by as much as 1,500 meters (see attached map at http://files.newswire.ca/530/Minera06-20map.pdf). Drilling tested mineralization on both Minera Andes' lands and adjacent lands held by Xstrata Copper. Xstrata Copper is one of the commodity business units within Xstrata plc (London Stock Exchange:XTA.L and Zurich Stock Exchange: XTRZn.S). An eleven hole drill program in early 2006 returned intervals up to 1.62% copper over 221 meters and 1.00% copper over 173 meters in separate holes.
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Table 1. Significant 2006 Drilling Results at Los Azules
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Intersection Total
Drill Hole TD From To Interval Copper
(m) (m) (m) (m) (%)
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AZ-06-10 (core) 261.35 174 261.35 87.35 0.83
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AZ-06-11 (core) 270.7 112 270.7 158.7 0.51
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AZ-06-14 (core) 224.55 132 180 48 1.13
Includes: 136 158 22 1.40
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AZ-06-17 (core) 183.5 66 183.5 117.5 0.63
Includes: 66 124 58 0.84
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AZ-06-19 (core) 299.4 78.25 299.4 221.15 1.62
Includes: 78.25 116 37.75 2.22
Includes: 134 146 12 3.94
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AZ-06-20 (core) 253.3 80 253.3 173.3 1.00
Includes: 80 98 18 1.69
Includes: 98 182 84 1.12
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Allen Ambrose, president of Minera Andes, said, "Our technical team made a second discovery in Argentina during the previous drilling season. Our careful, consistent, methodical exploration has now resulted in two discoveries with our San Jose project now going into production and the new exciting Los Azules drilling results. The northern portion of the Los Azules target where the new drilling has discovered thick sections of plus one percent copper is exciting in that we see a large copper target developing that is near surface and high grade. We look forward to reporting on the ongoing exploration program at this exciting discovery next year when drilling is completed."
Eleven reconnaissance core holes, totaling 3,426 meters, were drilled in the earlier campaign to depths of between 133 to 316 meters. The primary focus of the drilling was to test the grade and continuity of known leachable (chalcocite) copper mineralization identified in prior drill campaigns (see Table 2). Drilling at Los Azules continues to encounter features typical of many porphyry copper systems. In the discovery zone, strongly leached cap rock extends from the subcrop to as much as 161 meters beneath the surface followed by an enriched zone of secondary copper mineralization (chalcocite) overlying a zone of mixed secondary and primary (chalcopyrite) copper mineralization. The majority of holes shown in Table 1 ended in mineralization. Drill holes AZ-06-12, 13, 15, 16, and 18 returned lower copper values ranging from nil to 0.5 percent copper.
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Table 2. Significant Drilling Results at Los Azules, 1998 to 2004
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Intersection Total
Drill Hole TD From To Interval Copper
(m) (m) (m) (m) (%)
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AZ-04-01(x) (core) 195 133 195 62 0.62
Includes: 150 192 42 0.82
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AZ-04-02 (core) 330.5 164 304 140 0.38
Includes: 164 190 26 0.47
Includes: 230 304 74 0.42
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AZ-04-04 (core) 300.8 162 282 120 0.54
Includes: 162 202 40 0.59
Includes: 236 282 46 0.64
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AZ-04-07 (core) 168.8 96 152 56 0.44
Includes: 126 152 26 0.58
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LA-04-98 (RC) 250 117 250 133 0.47
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LA-06-98 (RC) 250 61 250 189 0.44
Includes: 157 250 93 0.64
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LA-08-98 (RC) 220 77 220 143 0.55
Includes: 103 220 117 0.61
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LA-03-04 (RC) 226 94 226 132 0.40
Includes: 104 114 10 1.12
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(x) Hole AZ-04-01 is drilled at -60degrees.
All results have been reviewed by Brian Gavin, Minera Andes' vice president of exploration, an appropriately qualified person as defined by National Instrument 43-101.
Minera Andes is a gold, silver and copper exploration company working in Argentina. Minera Andes holds about 440,000 acres of mineral exploration land in Argentina, including the co-owned San Jose silver/gold project now under construction and development for planned mine production and is acquiring other exploration targets in southern Argentina. The Corporation presently has 156,489,415 issued and outstanding shares.
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