*** Gold/Copper related post (MNEAF/MAI.V) ***
Minera Andes outlines 2007 San Jose Mine exploration program - includes 38,228 meters of drilling
Thursday March 1, 6:33 pm ET
SPOKANE, WA, March 1 /PRNewswire-FirstCall/ - Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) is pleased to report on the 2007 exploration program for the San Jose Mine where gold and silver production is scheduled to start in the second quarter of 2007 under the management of our operating partner, Hochschild Mining plc (HOC.L Reuters, HOC.LN Bloomberg, London Stock Exchange). An aggressive program has been approved by the joint venture partners consisting primarily of adding new reserves/resources by drilling along trend of existing reserves and drilling to test new targets at the San Jose project. A total of 14 targets will be drilled (see table below).
The goal of the drilling program is to add new reserves and resources, and to identify new veins that will increase mine life and facilitate the expansion of production at the San Jose project.
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Table - Planned 2007 Drilling Program
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Number of Meters of
Vein Target Drill holes Drilling
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Frea SW 32 10,638
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Frea SE 27 7,605
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Frea-Ramal 4 1,000
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Frea 4 1,000
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Frea NE 6 1,500
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Ayelen 15 3,300
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Odin (A and B) 20 4,055
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Pluma Sur 6 1,500
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Huevos Verdes 4 1,000
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Kospi (l and Sur) 11 2,750
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Frigga 4 1,000
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Aguas Vivas 12 2,880
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Total 145 38,228
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During the past two years four new vein systems have been discovered outside of the existing reserves by drilling geophysical and geologic targets at the San Jose project. A total of 40 kilometers of vein trend has been identified on the property including over 5 kilometers of geophysical targets (see attached map at http://files.newswire.ca/530/map.pdf). Extensive drilling has been conducted on only 10% or about 4 km of veins that make up the reserve and resource base for the imminent startup of the San Jose mine.
The current program, managed by our operating partner Hochschild Mining Argentina Corporation, a subsidiary of Hochschild Mining plc ("Hochschild"), will consist of exploration and the drilling of approximately 145 holes totaling 38,228 meters (see table for summary). The budgeted program will cost approximately $4 million and start with drilling the southern and northern extensions of the Frea vein. Currently the Frea vein makes up approximately 50% of the reserves on property and has only been explored for about 0.5 km of strike length. Over half of the drilling program will concentrate on different parts of the Frea vein.
Allen V. Ambrose, president of Minera Andes said, "The exploration program at San Jose has been highly successful in discovering new silver and gold veins. Using geophysics to identify vein targets by looking through areas covered by overburden we have had excellent success drilling these targets and finding new veins. The large drilling program underway has significant potential to make additional silver and gold discoveries on the property."
Our partner Hochschild has over forty years experience in the exploration, evaluation and extraction of precious metal epithermal vein deposits in South America. In addition, they have extensive experience in underground mining and operate three underground epithermal vein mines located in southern Peru that are geologically similar to the San Jose project.
Minera Andes is a gold, silver and copper exploration company working in Argentina. The Corporation holds about 440,000 acres of mineral exploration land in Argentina including the co-owned San Jose/Huevos Verdes silver/gold project now under construction for production and cash flow by mid-2007. Minera Andes is also exploring the Los Azules copper project in San Juan province, where drilling is underway to define a resource. Other exploration properties, primarily gold and silver, are being evaluated in southern Argentina. The Corporation presently has 157,239,415 issued and outstanding shares.
This news is submitted by Allen V. Ambrose, president and director of Minera Andes Inc.
For further information, please contact Art Johnson at the Spokane office, or Krister A. Kottmeier, investor relations - Canada at the Vancouver office. Visit our web site: www.minandes.com.
http://biz.yahoo.com/prnews/070301/to496.html?.v=14
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