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Santa Rosa Mine in Apurimac, Peru
The 9,000 hectare Santa Rosa property is located in southern Peru, approximately 550 km southeast of Lima. It consists of the open-pit gold-and-silver mine of the same name and the surrounding zones that are current targets of exploration.
Andean American Mining Corporation (TSX-V:AAG) (FWB:AQN) (BVL:AAG) is pleased to report results from sampling of the SW Crosscut, on the 3400 Level adit on the Atenea Vein Structure, at the Invicta Property in Peru.
As reported earlier, the 3400 Level Adit is being driven at the 3,400m elevation parallel to and in the hanging wall of the Atenea Vein Structure to provide access to drill test below this level. The anticipated total length of the 3400 Level Adit is over 600 metres. An access crosscut of approximately 200 metres was driven north from the 200 metre point. The Atenea Vein Structure was intersected at approximately 150 metres in the access crosscut.
A tunnel of approximately 120 metres length was driven along the Atenea Vein Structure and four short crosscuts of approximately 15m to 20m length were made at 20 metre intervals to the east of the access crosscut. One crosscut was made to the west of the access crosscut. These crosscuts have been mapped and sampled. Mineralization is continuous over the 120m of strike length and remains open in both directions. Results have now been received for the SW Crosscut. True widths are estimated to be 85% of the apparent widths.
Significant intersections are:
SW Crosscut
West Wall East Wall
5.80m 7.70m
0.95 g/t Au 1.47 g/t Au
18.4 g/t Ag 39.3 g/t Ag
0.79% Cu 0.77% Cu
0.14% Pb 0.32% Pb
0.15% Zn 0.22% Zn
The Atenea Vein Structure consists of quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite. The quartz varies from white to grey, and displays acicular crystals, cockade textures and open spaced filling, with rare vugs lined with quartz crystals to 5cm size. The sulphides within the quartz vary from disseminated to massive. The bounding faults dip to the south at between 60 and 70 degrees.
The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report dated July 24, 2007.
The Atenea Structure is the most advanced target of eight identified in the Invicta Property, which covers 41,500 hectares. The Company is very pleased with the initial results of the underground exploration program.
Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay’s supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accedited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to shipment from site to monitor the quality control of the analytical data.
“John Huguet” John Huguet Chairman & CEO
Andean American Mining Corp. (TSX.V:AAG) (FWB:AQN) (BVL:AAG) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 41,500 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
Andean American Mining Corp. (TSX-V:AAG) (FWB:AQN) (BVL:AAG) is pleased to announce the acquisition by staking of an additional 11,800 hectares at the Invicta Project, bringing the total land position to 41,500 hectares. The claims were staked to cover areas with geology similar to that of the Invicta Project and areas with geochemical signatures comparable to that of the Atenea Vein Structure, the Pucamina Vein and other targets within the Invicta Project. These claims were selected based on past surveys by Ingemmet, the Peruvian Geological, Mining and Metallurgical Institute.
Invicta hosts low-sulphidation epithermal style gold-silver-copper mineralization and is located in the Department of Lima, Province of Huara, approximately 225 kilometers north of the city of Lima at an altitude of 3,400 metres. Andean American acquired an option to purchase 100% of an advanced exploration stage project of 3,700 hectares, which it named Invicta, from a Barrick wholly owned subsidiary, Minera ABX Exploraciones SA in 2005. Subsequent to this date, Andean American has independently acquired an additional 37,300 hectares and brought the land position for the project to the current 41,500 hectares.
Andean American Mining Corp. (TSX.V:AAG) (FWB:AQN) (BVL:AAG) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 29,700 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
Andean American Mining Corporation (TSX-V:AAG) (FWB:AQN) (BVL:AAG) is pleased to announce the acquisition by staking of an additional 7,500 hectares at the Invicta Project, bringing the total land position to 29,700 hectares or 73,390 acres. Invicta hosts low-sulphidation epithermal style gold-silver-copper mineralization and is located in the Department of Lima, Province of Huara, approximately 225 kilometres north of the city of Lima at an altitude of 3,400 metres. Andean American acquired an option to purchase 100% of an advanced exploration stage project of 3,700 hectares, which it named Invicta, from a Barrick wholly owned subsidiary, Minera ABX Exploraciones SA in 2005. Subsequent to this date, Andean American independently acquired an additional 26,000 hectares contiguous to the property and brought the land position for the project to 29,700 hectares.
Andean American Mining Corp. (TSX.V:AAG) (FWB:AQN) (BVL:AAG) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 29,700 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) is pleased to announce that it has received approval to list its common shares for trading on the Bolsa de Valores de Lima (the "Lima Exchange"). Trading will commence on February 7, 2008 under the trading symbol AAG. Andean American is sponsored by Scotia Bolsa S.A., Scotiabank´s Brokerage House in Peru where Scotiabank is the third largest bank.
The Lima Exchange main index rose 286.1% since December 2004 up until December 2007. The mining index, which makes up more than 50% of the Lima Exchange's listings, rose 367% during the same period. The Lima Exchange junior sector is growing quickly. It was started in 2005, with total capital of $13.92 million USD, and rose to $444.33 million USD by the end of 2007. Due to the strong interest in mining by Peruvian investors, the growth is expected to continue.
John Huguet, Chairman and CEO said, “Peru has a long history of mining and the majority of companies listed on the Lima Exchange are involved in mining. Andean American is very interested in the Peruvian investment community having the opportunity to participate in the growth of our company, particularly with the Invicta Project moving to the feasibility study phase and the progress of the Sinchao Project. This listing on the Lima Exchange will make the process much easier”.
Andean American Mining Corp. is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 22,200 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
On behalf of Andean American Mining Corp.,
“John Huguet”
John Huguet
Chairman & CEO
VANCOUVER, BRITISH COLUMBIA-Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN)
Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) is pleased to report results from sampling of Crosscut 1S, on the 3400 Level Adit on the Atenea Vein Structure, at the Invicta Property in Peru.
The 3400 Level Adit is being driven at the 3,400m elevation parallel to, and in the hanging wall, of the Atenea Vein Structure, to provide access to drill test the Atenea Vein Structure below the 3,400m level. The anticipated total length of the 3400 Level Adit is 600 metres. A crosscut of approximately 200 metres has been driven north from the 200 metre point. The Atenea Vein Structure was intersected at approximately 150 metres in the crosscut, and with widths of 18m and 16m for the west and east walls, respectively (see News Release dated December 11, 2007).
A tunnel of approximately 80 metres length has been driven along the Atenea Vein Structure to the east, and four short crosscuts of approximately 15m to 20m length have been made at 20 metre intervals. The crosscuts are designed to determine the width of the Atenea Vein Structure and provide access for mapping and sampling. Mineralization is continuous over the 80m of strike length and remains open in both directions. Results have been received for Crosscut 1S, the first crosscut. True widths are estimated to be 85% of the apparent widths.
Significant intersections are:
West Wall East Wall
15.45m 14.0m
1.31 g/t Au 5.17 g/t Au
55.3 g/t Ag 78.7 g/t Ag
1.53% Cu 2.06% Cu
2.26% Pb 2.32% Pb
1.42% Zn 0.72% Zn
These intersections are consistent with those previously reported in the access crosscut, and confirm the potential of the Atenea Vein Structure in this area to be significantly wider than that estimated from drilling.
The Atenea Vein Structure consists of quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite. The quartz varies from white to grey, and displays acicular crystals, cockade textures and open spaced filling, with rare vugs lined with quartz crystals to 5cm size. The sulphides within the quartz vary from disseminated to massive. The bounding faults dip to the south at between 60 and 70 degrees.
The 3400 Level Adit intersected massive andesite and medium grained diorite, with weak chlorite and epidote alteration and traces of disseminated pyrite. The diorite and the andesite in the crosscut are both cut by nine quartz veins ranging in width from 2cm to 1.5m, which trend subparallel to the Atenea Vein Structure. On surface, the Atenea Structure has been traced for over 350 metres, and has been traced by drilling to a depth of approximately 350 metres. The structure remains open along strike and to depth.
The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report dated July 24, 2007.
The Atenea Structure is the most advanced target of eight identified in the Invicta Property, which covers 22,200 hectares. The Company is very pleased with the initial results of the underground exploration program and additional results will be released as they are received.
Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay’s supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accedited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to shipment from site to monitor the quality control of the analytical data.
On behalf of Andean American Mining Corp.,
“John Huguet” John Huguet Chairman & CEO
Andean American Mining Corp. (TSX.V:AAG)(FWB:AQN) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 22,200 hectare Invicta gold-silver-copper advanced exploration stage project; 60% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) is pleased to report results from additional infill diamond drilling on the Atenea Structure in its Invicta property in Peru.
Hole AE-DDH-07-34 was drilled on Section ATE-6NW, and intersected the Atenea Structure approximately 125 metres below surface, between drill holes 4411-97-06 and 4411-97-15, drilled by Pangea in 1997. Drill hole 4411-97-06 intersected 5.92 g/t Au, 20.5 g/t Ag and 0.29% Cu over a true width of 16.66 metres, and drill hole 4411-97-15 intersected 0.96 g/t Au, 125.1 g/t Ag and 3.55% Cu over a true width of 1.54 metres.
Drill Hole AE-DDH-07-34 intersected:
Interval (m) Width (m) Est. True Au g/t Ag g/t Cu %
Width (m)
120.35 – 147.36 27.01 18.5 4.15 93.7 0.60
Inc.
120.8 – 127.7 6.9 3.17 1.33 26.9 0.65
134.0 – 145.9 11.9 8.09 7.19 196.2 0.95
The results from the recently completed drill program, in conjunction with the underground sampling and drilling from the 3400 Level adit, are designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report filed on SEDAR and dated July 24, 2007.
The Atenea Structure is the most advanced target of the eight identified on the Invicta Property, which covers 22,200 hectares. The property is located in west Central Peru in the department of Lima, the province of Huaura, approximately 250 kilometres by road north east of the city of Lima, Peru at an altitude of 3,400 metres.
Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay’s supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accredited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to the shipment from site to monitor the quality control of analytical data.
On behalf of Andean American Mining Corp.,
“John Huguet” John Huguet Chairman & CEO
Andean American Mining Corp. (TSX.V:AAG)(FWB:AQN) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 22,200 hectare Invicta gold-silver-copper advanced exploration stage project; 67% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine. For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
VANCOUVER, BRITISH COLUMBIA-Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN)
The Board of Directors of Andean American Mining Corp. (TSX-V-AAG) wishes to announce that it has completed the first tranche of 3,077,000 units of its previously announced non-brokered private placement. Also the Company has increased the amount of units from 7.7 million to 9,107,000 units at a price of $0.65 per unit. Each unit consists of one common share in the Company and one half of a non-transferable share purchase warrant. One whole share purchase warrant will entitle the holder to acquire one common share of the Company for C$0.85 expiring two years after closing. The units and underlying securities are subject to a mandatory four-month hold period, expiring in April 2008. The private placement is subject to final approval from the TSX Venture Exchange.
The warrants will also carry a forced conversion feature such that should the common shares of the Company trade at or above $1.50 for twenty consecutive trading days then the warrants must be exercised within 30 days or expire thereafter.
A Finder's fee of 7% in cash or units and 8% finder’s warrants at $0.90 for two years may be payable in accordance with the policies of the TSX Venture Exchange.
The proceeds of this financing will be used to advance the Invicta Project including milling equipment purchases, mine development and further exploration, to cover Andean’s subscription for 5,000,000 units in Sinchao Metals’ non-brokered private placement announced on October 29, 2007 and for general corporate purposes.
On behalf of Andean American Mining Corp.,
“John Huguet” John Huguet Chairman & CEO
Andean American Mining Corp. (TSX.V:AAG)(FWB:AQN) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 22,400 hectare Invicta gold-silver-copper advanced exploration stage project; 67% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
VANCOUVER, BRITISH COLUMBIA-Andean American Mining Corp. (TSX.V-AAG)(FWB-AQN)
Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) is pleased to report initial results from underground sampling of the 3400 Level crosscut on the Atenea Vein, at the Invicta Property in Peru.
The 3400 Level adit is being driven parallel to, and in the hanging wall of, the Atenea Vein structure to provide access to drill test the Atenea Vein at depth below 3,400 metres elevation. The anticipated total length of the 3400 Level adit is 600 metres. The adit has presently been advanced to 215 metres length, and a crosscut of approximately 200 metres has been driven off to the north from the 200 metre point. The Atenea Vein structure was intersected at approximately 150 metres in the crosscut, with apparent widths of 18m and 15.5m exposed in the west and east walls respectively. True widths are estimated to be approximately 85% of the apparent widths. In both walls, there are zones of higher grade mineralization adjacent to the north and south contacts.
Panel sampling returned the following values:
West Wall East Wall
18.0m (full width) 3.47 g/t Au 36.9 g/t Ag 0.80 % Cu 0.93 % Pb 0.82 % Zn
15.55m (full width) 2.16 g/t Au 42.9 g/t Ag 0.92 % Cu 1.15 % Pb 0.81 % Zn
Including (south side)
7.0m 5.74 g/t Au 48.5 g/t Ag 1.33% Cu 1.93% Pb 1.66% Zn and
Including (south side)
6.0m 4.14 g/t Au 46.6 g/t Ag 1.12% Cu 2.68% Pb 1.58% Zn and
4.0m (north side) 3.86 g/t Au 67.5 g/t Ag 0.87% Cu 0.52% Pb 0.35% Zn
2.6m (north side) 2.33 g/t Au 117.5 g/t Ag 1.53% Cu 0.43 Pb 0.25% Zn
A tunnel of approximately 80 metres length has been driven along the Atenea Vein to the east, and short crosscuts of approximately 15m to 20m length have been made at 20 metre intervals. These crosscuts are being mapped and sampled. Mineralization is continuous over the 80m of strike length and remains open in both directions.
The Atenea Vein mineralization consists of a quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite in the quartz. The sulphides are generally coarse grained and vary from disseminated to massive. Breccia fragments are chiefly altered andesite. Both the footwall and hanging wall contacts are sharp and defined by a zone of fault gouge. The bounding faults dip to the south at between 60 and 70 degrees.
The 3400 Level adit intersected massive andesite, cut by quartz veinlets ranging in width for 1cm to 40cm. The crosscut intersected the same massive andesite and medium grained diorite, with weak chlorite and epidote alteration and traces of disseminated pyrite. In the crosscut both rocktypes are cut by nine quartz veins ranging in width from 2cm to 1.5m, which trend subparallel to the Atenea Vein Structure. Assays for these veins ranged from background to peak values of 14.98 g/t Au, 136.0 g/t Ag, 3.39% Cu, 9.64% Pb and 24.77% Zn, generally over narrow widths. The connection, if any, of these hanging wall veins with the main Atanea Vein has yet to be determined.
The Atenea Vein has been traced for over 350 metres on surface and to a depth of approximately 350 metres, and remains open along strike and to depth.
The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report filed on SEDAR and dated July 24, 2007.
The Atenea Vein is the most advanced target of eight identified in the Invicta Property, which covers 22,200 hectares. The Company is very pleased with the initial results of the underground exploration program and additional results will be released as they are received.
Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay’s supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accedited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to shipment from site to monitor the quality control of the analytical data.
On behalf of Andean American Mining Corp.,
“John Huguet” John Huguet Chairman & CEO
Andean American Mining Corp. (TSX.V:AAG)(FWB:AQN) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 22,400 hectare Invicta gold-silver-copper advanced exploration stage project; 67% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.
For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.andeanamerican.com
Santa Rosa Mine in Apurimac, Peru
