Spokane, Washington
– December 11, 2007 – Minera Andes Inc. (TSX: MAI; US OTC:
MNEAF) is pleased to report a planned 10,000 meter, 24 hole drilling
program has commenced on the Los Azules porphyry copper project as part
of the 2007-2008 exploration program. The exploration program at Los
Azules is designed to define an inferred resource and provide
sufficiently detailed engineering and technical information to allow the
completion of an economic scoping study (a Preliminary Assessment as
defined by NI 43-101) of the property by mid next year.
Minera Andes is
advancing the Los Azules project under an option agreement (see news
release dated November 14, 2007) with Xstrata Copper, one of the
commodity business units within Xstrata plc (London Stock Exchange: XTA.L
and Zurich Stock Exchange: XTRZn.S). The scope and size potential of the
project increased dramatically in 2006 when Minera Andes drilling
discovered a near surface high-grade area of copper mineralization when
AZ-06-19 encountered 221 meters of mineralization averaging 1.62 percent
copper that was 200 meters from hole AZ-06-20 containing 173 meters of
1.00 percent copper. Drilling in several holes ended in copper
mineralization, including two holes that bottomed in high-grade copper
over 1 percent. This field season an aggressive program is designed to
define the size and scope of the entire Los Azules copper target.
Allen Ambrose,
president of Minera Andes said "Over the past few field seasons the
drilling at Los Azules has discovered new high-grade copper
mineralization as we gain an understanding of this exciting project. Los
Azules is evolving as a sizeable porphyry copper target, with a
high-grade near-surface copper discovery at its core that is still open
at depth."
During the last few years more than half the drilling to define a
copper resource has been completed and drilling will continue this field
season over the known area of leachable (chalcocite) and sulfide
(chalcopyrite) copper mineralization as currently defined. The area to be
drilled covers approximately 2.5 kilometers by 0.9 kilometers within the
enriched copper target currently identified at Los Azules that is about
3.3 kilometers long and 0.9 kilometers wide. Holes will be drilled at a
nominal grid spacing of 200 meters east-west and 400 meters north-south.
Where needed fill in holes will be drilled on the 200 meter north-south
grid lines.
Drilling has commenced on the northern half of the mineralized copper
target and will also include infill drilling on the southern half of the
target. The holes will be drilled to a depth of approximately 350 meters.
This drilling will test a known area of leachable (chalcocite) and
sulfide (chalcopyrite) copper mineralization currently defined by 26
drill holes.
Consultants and an independent engineering firm have been retained to
monitor the program and prepare the NI 43-101 resource estimate and
Preliminary Assessment report. The fieldwork during the upcoming field
season will be managed by Minera Andes' technical staff with the
assistance of Nivaldo Rojas and Associates.
All results have been reviewed by Brian Gavin, Minera Andes' vice
president of exploration, an appropriately qualified person as defined by
National Instrument 43-101. All samples were collected in accordance with
industry standards. Splits from the drill core samples were submitted to
Alex Stewart Assayers, Argentina, S.A., in Mendoza, Argentina, for sample
pulp preparation and to ALS Chemex Laboratories, Mendoza, during the 2004
field season and to ACME Analytical Laboratories, Mendoza, during the
2006 and 2007 field seasons, for fire assay and ICP analysis. Accuracy of
results is tested through the systematic inclusion of standards, blanks
and check assays and by reanalysis of 10% of samples at the Alex Stewart
Assayers, Argentina, S.A. lab in Mendoza Argentina.
In another matter a new Technical Report by our independent
consultants AMEC entitled "San Jos� Property San Cruz Province,
Argentina NI 43-101 Technical Report", and summarized in our
November 26, 2007 news release has been filed at www.sedar.com in Canada
in accordance with National Instrument 43-101.
Minera Andes is a gold, silver and copper exploration company working
in Argentina. The Corporation holds about 410,000 acres of mineral
exploration land in Argentina including the 49% owned San Jos�
silver/gold mine that has started production. As discussed above, Minera
Andes is exploring the Los Azules copper project in San Juan province,
where an exploration program is underway to define a resource. Other
exploration properties, primarily silver and gold, are being evaluated in
southern Argentina. The Corporation presently has 166,997,517 shares
issued and outstanding.
This news is submitted by Allen V. Ambrose, president and director of
Minera Andes Inc.
For further information, please contact: Art Johnson at the Spokane
office, or Krister A. Kottmeier, investor relations – Canada, at
the Vancouver office. Visit our Web site: www.minandes.com.
Spokane Office
111 East Magnesium Rd.,
Spokane, WA 99208 USA
Phone: (509) 921-7322
E-mail: mineraandes@minandes.com
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Vancouver
Office
Suite 911 - 470 Granville St,
Vancouver, BC. V6C 1V5
Phone: (604) 689-7017 / 877-689-7018
E-mail: ircanada@minandes.com
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Caution
Concerning Forward-Looking Statements:
This press release contains certain "forward-looking
statements", including, but not limited to, the statements regarding
the Company's strategic plans, evolution of mineral resources and
reserves, work programs, development plans and exploration budgets. The
forward-looking statements express, as at the date of this press release,
the Company's plans, estimates, forecasts, projections, expectations or
beliefs as to future events and results. Forward-looking statements
involve a number of risks and uncertainties, and there can be no
assurance that such statements will prove to be accurate. Therefore,
actual results and future events could differ materially from those
anticipated in such statements. Risks and uncertainties that could cause
results or future events to differ materially from current expectations
expressed or implied by the forward-looking statements include, but are
not limited to, factors associated with fluctuations in the market price
of base metals, mining industry risks, risks associated with foreign
operations, the state of the capital markets, environmental risks and
hazards, uncertainty as to calculation of mineral reserves, and other
risks. Reference is made to the risk factors and uncertainties described
in the Company's continuous disclosure record, a copy of which is
available under the Company's profile at www.sedar.com.
Cautionary Note to U.S. Investors:
The United States Securities and Exchange Commission (the
"SEC") permits mining companies, in their filings with the SEC,
to disclose only those mineral deposits with "mineral reserves"
that a company can economically and legally extract or produce. We use
certain terms in this press release, such as "mineral
resources", that the SEC guidelines strictly prohibit us from
including in our filings with the SEC.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
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