ANDOVER VENTURES INC (AOVTF)

[lmcat]

ANDOVER VENTURES ANNOUNCES PRELIMINARY ECONOMIC
ASSESSMENT FOR BURGIN EXTENSION DEPOSIT, EAST TINTIC
MINING DISTRICT, UTAH, USA
December 07, 2011, Vancouver, B.C. - Andover Ventures Inc. (“Andover” or the “Company”) (AOX -TSX: V) (AOVTF-United States) (R2X-Frankfurt Exchange) is pleased to announce a completed 43-101 Preliminary Economic Assessment (PEA) of the Burgin Extension deposit owned by Chief Consolidated Mining Company, (“Chief”) (in turn approximately 78.5% owned by Andover). This report is the first National Instrument 43-101 compliant economic estimate of the Burgin project.
The Burgin property located about 60 miles in a straight line southwest of Salt Lake City, Utah, USA, consists of 527 acres that are a portion of a total of approximately 16,000 acres of
adjacent land owned or controlled by Chief in the Tintic and adjacent East Tintic Mining Districts, Utah, USA. These two districts were mined historically for polymetallic massive
sulfide replacement and gold-silver fissure vein deposits.
The total metal mined from the Tintic and East Tintic districts between 1869 and 1976 is as follows: 16.5 million tons containing 250 million ounces of silver, 2.3 million ounces of gold,
2.2 billion pounds of lead, 350 million pounds of zinc, and 250 million pounds of copper.
Deeper porphyry copper-gold targets in the East Tintic district are currently being drilled by Kennecott Exploration Company (“Kennecott”) a division of Rio Tinto plc, in a joint venture
with Chief.
The Company engaged Mine Development Associates (“MDA”) of Reno, NV, USA to complete both a Resource Estimate (completed in June - press release 06.22.2011), and a Preliminary Economic Assessment in accordance with National Instrument 43-101 on the Burgin
Extension deposit. The PEA technical report was completed on December 2, 2011 and will be posted on the Company’s website at www.andoverventures.com and SEDAR at www.sedar.com within 45 days.


http://www.infomine.com/companies-properties/document.aspx?docid=PB138127.PDF&utm_source=digest-en-minedev-111208&utm_medium=email&utm_campaign=digest