ANDINA Significantly Increases Gold Resource at Volcan.TORONTO -- 459,800 Ounces in Indicated and 773,400 Ounces in Inferred Categories 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 report that the recently revised resource estimate for the Company's Volcan Gold Project has established an Indicated Mineral Resource of 459,800 ounces of gold, the first Indicated Resource reported from Volcan (see Table 1 below) and increased the Inferred Mineral Resource category by 87% to 773,400 ounces as compared to October 2005 resource estimate. Andina has estimated that the Indicated Mineral Resource on the Volcan property is 14.33 million tonnes grading 1.00 grams per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. gold ("g/t Au") containing 459,800 ounces of gold based upon a cut off grade of 0.5 g/t Au. The resource estimate also includes a further 26.97 million tonnes in the Inferred Mineral Resource category grading 0.89 g/t Au (773,400 ounces) at a similar 0.5 g/t Au cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, grade. The updated mineral resource encompasses results from only the Dorado dorado: see dolphin (fish). East and Central Zones (see Table 2 attached). Drill results from additional targets, such as the Dorado West Zone, will be incorporated into the next resource estimate tentatively scheduled for the third quarter 2006. "The results from our 2005/06 exploration campaign have been exceptional", said Carl Hansen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "In a period of four months, we have not only converted 459,800 ounces of gold to the Indicated Mineral Resource category, more than our entire previous resource estimate of 411,700 ounces, but have also established a significant Inferred Resource to which we will continue to add. The potential for the discovery of further 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. in the Dorado area is outstanding yet that area itself represents only a small fraction of the prospective 5,400 hectare hectare (hĕk`târ, –tär), abbr. ha, unit of area in the metric system, equal to 10,000 sq m, or about 2.47 acres. Volcan property which we have only just started to explore."
Table 1: Volcan Project Resource Summary
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Category Cut-off Grade Tonnes Grade Contained
(g/t Au) (g/t Au) Gold Ounces
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Indicated 0.3 28,760,700 0.69 633,800
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0.5 14,326,600 1.00 459,800
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1.0 5,671,700 1.57 283,800
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Inferred 0.3 54,816,800 0.61 1,071,100
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0.5 26,973,300 0.89 773,400
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1.0 8,175,600 1.44 378,200
The Company's independent geological consultant has audited the updated resource estimate and confirmed that the estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. has been reasonably and conservatively performed. A National Instrument 43-101 compliant technical report will be filed within 45 days of this release. Dorado East Zone The Indicated Mineral Resource for the East Zone is 14.33 million tonnes grading 1.00 g/t Au for a total of 459,800 ounces of gold. The resource estimate contains a further 4.15 million tonnes grading 0.96 g/t Au (128,700 ounces of gold) in the Inferred Mineral Resource category. The resource estimate extends from surface to an average depth of approximately 250 metres and the potential exists both along strike and to depth for the discovery of additional ounces of gold. The East Zone consists of two sub-parallel, sub-vertical dipping hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. breccias developed within a tuffaceous dacite da·cite n. A light gray volcanic rock containing a mixture of plagioclase and other crystalline minerals in glassy silica, similar in appearance to rhyolite. [After Dacia. and has been outlined over a strike length in excess of 400 metres and a maximum width of approximately 225 metres. The gold mineralization is associated with sheeted grey quartz quartz, one of the commonest of all rock-forming minerals and one of the most important constituents of the earth's crust. Chemically, it is silicon dioxide, SiO2. veinlets with minor disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. . Dorado Central Zone The Central Zone Inferred Mineral Resource estimate contains 22.82 million tonnes grading 0.88 g/t Au giving 644,700 ounces of gold at a 0.5 g/t Au cut off. Similar to the East Zone, the Central Zone resource estimate extends from surface to an average depth of 250 metres although on one section the mineralization was extended to a depth of 400 metres. Despite having an average grade of 0.88 g/t Au, the Central Zone has a higher grade core as reported from drill holes RCA-09 (3.16 g/t Au over 10 metres) and RCA-08 (2.97 g/t Au over 30 metres) which is in turn surrounded by a significant halo of lower grade mineralization. The core of the Central Zone (approximately 200 metres along strike) contains 13.26 million tonnes grading 0.98 g/t Au giving 426,300 ounces in the Inferred Mineral Resource category. The Central Zone gold mineralization occurs in an environment similar to the East Zone, although there appears to be slightly less quartz veining vein·ing n. Distribution or arrangement of veins or veinlike markings. . The mineralization has been traced over a strike length of approximately 500 metres and varies in width up to 100 metres wide pinching pinch v. pinched, pinch·ing, pinch·es v.tr. 1. To squeeze between the thumb and a finger, the jaws of a tool, or other edges. 2. out to the southeast but remaining open along strike to the northwest and to depth. Parallel zones of +0.5 g/t Au mineralization up to 30 metres wide have been identified to the immediate northeast of the Central Zone although the extent of these new zones has not been established Resource Estimate Methodology The resource estimate was based upon 12 diamond drill holes (2,287.5 metres) and 13 reverse circulation drill holes (1,952 metres) drilled by Cameco during the mid-1990's and 11 diamond drill holes (3,176 metres) and 34 reserve circulation drill holes (8,978 metres) drilled by Andina. The resource was estimated using the polygonal pol·y·gon n. A closed plane figure bounded by three or more line segments. po·lyg  o·nal adj. sectional sec·tion·al adj. 1. Of, relating to, or characteristic of a particular district. 2. Composed of or divided into component sections. n. method on cross sections developed at 50 metres intervals. Only drilling results were used to define the boundaries mineral resource. Drill hole assays were composited from (typically) two metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, assay intervals to generate composite intervals for each drill hole which corresponded to the appropriate 0.3, 0.5 and 1.0 gram per tonne cut-off grades. The maximum downward projection was 100 meters; 50 metres for the Indicated category and an additional 50 metres for the Inferred category. The resource blocks were projected one half the distance between sections, or 25 meters east and west, and in occasional cases were projected an additional 25 meters towards a section where the drilling in an adjacent section suggested that it was reasonable to expect continuity of the mineralization. An 'Indicated Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. It can not be assumed that the Inferred Mineral Resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature will be upgraded to an Indicated Resource as a result of continued exploration. Furthermore, it can not be assured that either Indicated or Inferred Mineral Resources will be converted to a "Reserve" category at such time as feasibility studies The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. are initiated. 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, 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 commitment and making a series of escalating payment end in 2008. 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 National Instrument 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. audited and confirmed the resource estimate presented in this press release. A NI43-101 compliant technical report is being prepared by Mr. Easdon and will be appropriately filed by the Company within forty five days of this release. 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, 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. Margi has approved the exploration program and established the quality control program to ensure the accuracy of the collection and analysis of samples. 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. RC samples of approximately 70 kilograms in weight are collected over 2 metre intervals. Both the RC samples and drill core are appropriately tagged, secured and transported to the Andina exploration camp and then to Andina's secure sample logging and preparation site near Copiapo, Chile. RC chip samples are riffle split twice to obtain a 15 kilogram kilogram, abbr. kg, fundamental unit of mass in the metric system, defined as the mass of the International Prototype Kilogram, a platinum-iridium cylinder kept at Sèvres, France, near Paris. sample for assay purposes. Representative chips are collected from each sample for logging purposes. Drill core is logged, marked at two metre intervals for sampling and split longitudinally lon·gi·tu·di·nal adj. 1. a. Of or relating to longitude or length: a longitudinal reckoning by the navigator; made longitudinal measurements of the hull. b. with a diamond drill saw. One half of the core is bagged and sample tags attached and the second half of the core is returned to the core boxes. All samples are appropriately 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. . 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 Company in October 2005. Further, a summary of the work performed by the previous operators, 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" dated November 12, 2004 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.
Table 2. Volcan Mineral Resource Summary by Cut Off Grade
0.3 g/t Au Tonnes Grade Contained
Cut off Grade (g/t Au) Gold Ounces
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Indicated
Resource Dorado East 28,760,700 0.69 633,800
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Total Indicated 28,760,700 0.69 633,800
Inferred
Resource Dorado East 6,925,000 0.72 161,100
Dorado Central 47,891,800 0.59 910,000
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Total Inferred 54,816,800 0.61 1,071,100
0.5 g/t Au Tonnes Grade Contained
Cut off Grade (g/t Au) Gold Ounces
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Indicated
Resource Dorado East 14,326,600 1.00 459,800
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Total Indicated 14,326,600 1.00 459,800
Inferred
Resource Dorado East 4,154,200 0.96 128,700
Dorado Central 22,819,100 0.88 644,700
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Total Inferred 26,973,300 0.89 773,400
1.0 g/t Au Tonnes Grade Contained
Cut off Grade (g/t Au) Gold Ounces
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Indicated
Resource Dorado East 5,671,700 1.57 283,800
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Total Indicated 5,671,700 1.57 283,800
Inferred
Resource Dorado East 1,307,900 1.47 61,900
Dorado Central 6,867,700 1.43 316,300
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Total Inferred 8,175,600 1.44 378,200
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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