"Basser, any thoughts on mai.v in this .60 lod area? Thanks" ===============================================================
G'morning Choad, I think you're going to be very happy you own this one. <VBG>
Progress Report At Minera Andes' 100 Percent Owned Los Azules Porphyry Copper/Gold Project, Argentina Monday March 1, 8:02 am ET
SPOKANE, WASHINGTON--Minera Andes Inc. (TSX-V: MAI; NASD OTCBB: MNEAF) is pleased to announce that the current drill program is progressing on schedule at the Los Azules porphyry copper/gold system in San Juan province, central Argentina and may be expanded if weather conditions allow. In addition to the drilling, a geophysical survey using Xstrata Copper Americas' proprietary MIMDAS deep penetration, high resolution induced polarization (IP) system is in progress on the property. This survey will assist in selecting drill targets beneath the extensive talus and glacial debris cover on the property.
The current drilling program may be expanded from seven holes to test any IP targets defined in the ongoing survey. On the contiguous property, our neighbor, Xstrata, has started drilling targets north of our property boundary. Minera Andes is currently on hole 5 and expects assays from the drilling by late March.
The drilling is currently testing a well defined magnetic low previously identified in aeromagnetic surveys and recently confirmed by 22 line kilometers of ground magnetic surveys commissioned by Minera Andes. This 1,500 meter by 400 meter area of anomalously low magnetic response coincides with the presence of strongly leached rocks at the surface containing up to 200 ppb gold in rock chip samples. The geologic setting is typical of porphyry copper-style mineralization and is consistent with the mineralization observed in an historic drill hole by Battle Mountain Gold some 220 meters north of the Minera Andes' property. This hole contained a 117-meter interval of 0.61 percent copper and 2.3 gm silver.
On Minera Andes ground, the drill holes completed to date have encountered many of the geologic features typical of porphyry copper systems such as phyllic, argillic and potassic alteration beneath "leached cap" rocks. Mineralization seen in drill holes includes chalcocite and covellite supergene secondary copper mineralization and primary chalcopyrite copper mineralization.
This work is being undertaken by Nivaldo Rojas and Associates under the supervision of Minera Andes' technical staff. The geophysical data is being collected by Xstrata Copper Americas under a cooperative arrangement between Minera Andes and Xstrata, a subsidiary of Xstrata PLC (London Stock Exchange: XTA.L and Zurich Stock Exchange: XTRZn.S). All results have been reviewed by Brian Gavin, Minera Andes' vice president of exploration, who is an appropriately qualified person as defined by National Instrument 43-101.
Minera Andes is a mining exploration corporation that is involved with approximately 10 projects on about 198,000 hectares (about 489,000 acres) of mineral exploration land in Argentina. The properties primarily contain gold, silver and copper mineralization targets. The Corporation is presently pursuing the further development of its co-owned gold/silver discovery property in Santa Cruz province, and is prospecting in other Argentine provinces. The Corporation presently has 59,810,865 issued and outstanding common shares.
Spokane Office 111 East Magnesium Rd., Suite A Spokane, WA 99208 USA
Vancouver Office 1000-355 Burrard Street Vancouver, B.C. V6C 2G8
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