ANDINA Minerals Inc.: Volcan Project Drilling Returns 22 Metres Grading 6.70 g/t Gold.TORONTO -- Includes High Grade Interval of 4 Metres Grading 22.16 g/t Gold ANDINA Minerals Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADM See add/drop multiplexer. (language) ADM - A picture query language, extension of Sequel2. ["An Image-Oriented Database System", Y. Takao et al, in Database Techniques for Pictorial Applications, A. Blaser ed, pp. 527-538]. ) ("Andina" or "the Company") is pleased to update the results from the ongoing drilling program on its Volcan Gold Project which is centrally located in Chile's Maricunga Gold Belt. Andina recently published an updated gold resource estimate of 459,800 ounces in the Indicated Mineral Resource category and 773,400 ounces in the Inferred Mineral Resource category (see Andina press release February 22, 2006) which incorporated all of the drill holes summarized in this release with the exception of DCA-03 which was received subsequent to the resource audit. Central Zone High Grade Gold Diamond drill hole DCA-03 (see Table 1), which returned 22 metres grading 6.70 grams per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. ("g/t") gold including 4 metres of abundant black quartz veining vein·ing n. Distribution or arrangement of veins or veinlike markings. grading 22.16 g/t gold, established the presence of a significant high grade core to the Central Zone. The higher grade section was part of a wider 46 metre interval which returned 3.67 g/t gold at a depth of approximately 175 metres below surface. DCA-03 cut the Central Zone approximately 100 metres east of the previously reported intersection from DCA-07, the deepest hole drilled to date into the Central Zone. DCA-07 returned 118 metres grading 1.40 g/t gold including a higher grade core of 46 metres grading 2.19 g/t at a vertical depth of 275 metres with two narrower 4 metre intervals of 5.24 g/t and 6.11 g/t.
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Table 1. Summary of Significant Volcan Drill Assay Results
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Hole # Zone From To Length(1) Grade(2)
(metres) (metres) (metres) (g/t gold)
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RVA-06 East 0 38 38 0.99
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72 122 50 0.91
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RVA-08 East 164 190 26 1.04
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RVA-16 East 72 122 50 0.94
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DCA-03 Central 34 94 60 0.67
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198 244 46 3.67
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incl 198 220 22 6.70
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with 200 204 4 22.16
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and 204 220 16 3.47
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RCA-20 Central 44 96 52 1.24
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incl 64 88 24 2.00
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RCA-24 Central 144 192 48 0.81
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incl 168 178 10 1.58
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(1) Assay composite intervals are based upon a 0.5 g/t cut off grade
(2) All intervals represent downhole lengths and not true widths
Drill holes DCA-03 and DCA-07, along with others, suggest that the Central Zone hosts a relatively high grade core of gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. with a potential strike length of approximately 200 metres which is open to depth. It is not uncommon in the Chilean Andes for telescoped tel·e·scope n. 1. An arrangement of lenses or mirrors or both that gathers visible light, permitting direct observation or photographic recording of distant objects. 2. , high-level porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. related breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. systems to exhibit significant zones of gold enrichment enrichment Food industry The addition of vitamins or minerals to a food–eg, wheat, which may have been lost during processing. See White flour; Cf Whole grains. . The remainder of the drill holes from the Central Zone area (see tables 1 below and 2 attached) returned intervals of gold mineralization largely as anticipated. RCA-20 cut the core of the Central Zone closer to surface (vertical depth of approximately 60 metres) returning 52 metres grading 1.24 g/t gold including a slightly higher grade core grading 2.00 g/t gold over 24 metres. Also of note is drill hole RCA-07, collared 150 metres northeast of and drilled towards the Central Zone, which returned a broad zone of lower grade gold mineralization, 134 metres of 0.52 g/t gold, before intersecting in·ter·sect v. in·ter·sect·ed, in·ter·sect·ing, in·ter·sects v.tr. 1. To cut across or through: The path intersects the park. 2. the western extension of the main Central Zone structure. Drill hole RCA-24, collared 150 metres southeast of RCA-07, cut a similar lower grade interval of gold mineralization, 122 metres grading 0.58 g/t gold including several higher grade intervals. Unfortunately the drill hole was lost before reaching the main Central Zone structure. Drill plans for both the Central and East Zone can be found on the Andina website at www.andinaminerals.com. East Zone The latest drill holes from the East Zone drilling campaign (summarized in tables 1 above and 3 attached) returned results that were generally as anticipated with the exception of drill holes DVA-14 and DVA-16. Combined, these two drill holes, collared at the same location on Section 2VC and drilled in opposite directions, cut significant widths of +0.5 g/t gold mineralization confirming the potential to increase the resource base of the East Zone beyond the western limits of the recently updated resource estimate. West Zone Drilling Program Commences On February 28, 2006, Andina commenced diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral the West Zone which is located approximately 700 metres west of the Central Zone. Earlier channel sampling completed by the Company in the West Zone returned 185 metres grading 0.80 g/t gold (including 60 metres grading 1.00 g/t and 70 metres grading 1.08 g/t) and 50 metres grading 1.11 g/t gold (see Andina press releases dated December 15, 2005 and January 11, 2006). The exploration plan envisions the drilling of 3 to 5 diamond drill holes to be followed by additional reverse circulation drilling if the results warrant. The first assay results from the West Zone will not be available until April 2006. About Andina Minerals Inc. Andina is an Americas focused exploration company with a portfolio of precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration projects in Chile. The Company is dedicated to maximizing the value of its exploration assets through a commitment to fiscally responsible exploration. The Company is earning a 100% interest in the Volcan project by undertaking certain work commitments and making a series of escalating payments ending in 2008. Under the guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. of National Instrument 43-101 ("NI 43-101") of the Canadian Securities Administrators Canadian Securities Administrators(CSA) is a forum for the 13 securities regulators of Canada's provinces and territories to coordinate and harmonize regulation of the Canadian capital markets. , the qualified person for the Volcan exploration project is Eduardo Magri, Ph.D. in mining engineering (Witwatersrand) and a Fellow of the SAIMM SAIMM South African Institute of Mining and Metallurgy SAIMM Systems Applications International Mesoscale Model SAIMM South African Infrastructure Management Manual with over 30 years of industry experience. Mr. Magri has approved the exploration program and established the quality assurance and quality control programs to ensure the accuracy of the collection and analysis of samples. Michael Easdon, a Register Professional Geologist of Santiago, Chile Santiago, officially Santiago de Chile (Spanish: (helpinfo)), is the capital of Chile, and the center of its largest conurbation (Greater Santiago). and an "Independent Qualified Person" as defined by NI 43-101, audited and confirmed the resource estimate presented in this press release. The reverse circulation ("RC") chips and diamond drill core from Andina's ongoing drill campaign are collected at the drill under the direct supervision of Andina staff. All samples are appropriately logged, tagged and securely stored prior to shipping to Asesoria Minera Geoanalitica Ltda.'s ("Geoanalitica") laboratory in La Serena, Chile La Serena ("the serene one") is the second oldest city in Chile. The city, located 471 km north of Santiago, has a population of 147,815, according to the 2002 census. There are also 12,333 inhabitants of the immediately surrounding countryside. . Samples are processed and analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. for gold using fire assay techniques with atomic absorption finish. Samples which returned gold values greater than 1.00 gram per tonne are re-analyzed by Geoanalitica using fire assay techniques with a gravimetric gravimetric /grav·i·met·ric/ (grav?i-me´trik) pertaining to measurement by weight; performed by weight, as a gravimetric method of drug assay. grav·i·met·ric adj. 1. finish. Duplicate samples are inserted at a rate of approximately 5%. Andina also inserts standard samples within each sample batch to ensure laboratory quality control procedures. Occasionally Andina requests Geoanalitica send samples to ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex in La Serena, Chile for 47 trace element analysis using ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. . A NI 43-101 compliant Technical Report detailing the February 22, 2006 revised Volcan Gold Project resource estimate is being prepared and will be appropriately filed prior to April 7, 2006. A Technical Report titled "Technical Report on the Volcan Gold Project. Region III, Chile" dated November 2005 and available at www.sedar.com provides a summary of the Volcan Inferred Resource estimate published by the Andina in October 2005. Further, a summary of the work performed by the previous explorers of the Volcan Gold Project, including a discussion of the quality assurance and quality control of the previous drilling programs, is reported within the Company's Technical Report titled "Review of Gold and Copper Exploration Potential of Mineral Properties in Chile" which was filed at www.sedar.com on November 24, 2004. The statements herein that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. Please note to view the table titled: "Table 2- Central Zone (Volcan Project) Phase II Drilling Summary - March 6, 2006", please click on the following link: http://www.ccnmatthews.com/docs/andtable2.pdf To view the table titled: "Table 3- East Zone (Volcan Project) Phase II Drilling Summary - March 6, 2006", please click on the following link: http://www.ccnmatthews.com/docs/andtable3.pdf The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. ANDINA Minerals Inc. (TSX VENTURE:ADM) |
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