Andina Minerals Inc.

Published : June 07th, 2010

Drills 110 Metres of 1.72 g/t Gold in the Dorado West Zone

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Keywords :   Canada | Chile | Copper | Diamond | Gold | K Street | Molybdenum | Recovery |
Andina Minerals Inc.. - Press Release

Andina Drills 110 Metres of 1.72 g/t Gold in the Dorado West Zone at Volcan

TORONTO, June 7, 2010 � ANDINA Minerals Inc. (TSX-V:ADM) (the �Company�) is pleased to announce the results of the final phase of the 2009-2010 in-fill drilling programme at the Company�s Volcan Gold Project in Chile. As previously reported, the 2009/2010 field season contemplated 20,960 metres of drilling of which approximately 20,200 metres were completed prior to demobilization due to the onset of winter. These drill holes are part of an overall program designed to test the extent of the mineralization of the Dorado West zone and as a follow-up to hole ROA821 (see Press Release of March 31, 2010), which encountered 178 metres of 1.77 g/t Au within a larger mineralized intercept from 102 metres to 344 metres from the drill collar on section DW1250. Highlights of the most recent drilling include:

  • Hole DOA 843 which returned 110 metres at 1.72 g/t Au (starting from surface)
  • Hole DOA 846 which returned 56 metres at 1.56 g/t Au
  • Hole DOA 844 which returned 36 metres of 1.45 g/t Au
  • Hole DOA 828 which returned 32 metres of 1.36 g/t Au

Results from the last ten (10) in-fill drill holes are reported below, totalling 5,123 metres, bringing the total drilled at Dorado West to forty-five (45) holes representing 17,481 metres.

Commenting on these most recent results, George Bee, President and CEO stated � We view the in-fill drilling program at Dorado West as having been a success. The latest drill holes continue to support the presence of an extensive better grade zone near to surface and we now have a greater density of drill data to include this zone in the upcoming resource model. Hole DOA 843 is located some 50m from Hole ROA821 which supports the presence of an extensive better grade zone near to surface. The drilling also continues to define the geological model and the relationship and continuity of the significantly higher grade intercepts within the Dorado West zone. This updated resource model is currently being calculated and is expected to be available during the third quarter of 2010. Once complete, the model should provide a platform for more selective mining and processing to enhance the economics of the Volcan project, allow mining of significantly better grades during the early years of operation and reduce dilution from internal waste.

Table 1. Summary of the Latest Significant In-Fill Drilling Results - Phase VI, Volcan Project, June 2010

Hole Number Section From - To Metres g/t Au Including
ROA 823 DW-700 0-120 m 120 0.53  
DOA 828 DW-1000 46-72 m 26 0.66  
    158-196 m 28 0.58  
    264-338 m 74 0.84 32 m @1.36 g/t Au
DOA 835 DW-1150 346 - 394 m 48 0.34  
    838-1114 m 276 0.27 4 m @3.32 g/t Au
ROA 837 DW-900 28-170 m 142 0.42  
    206-354 m 148 0.32  
DOA 839 DW-400 274-320 m 46 0.74 4 m @1.63 g/t Au
    456-494 m 38 0.54  
DOA 840 DW-550 452-500 m >48 0.65  
DOA 843 DW-1200 0-138 m 138 1.52 110 m@1.72 g/t Au
    192-252 m 60 0.68  
    292-418 m 126 0.62 22 m@1.17 g/t Au
DOA 844 DW-650 204-300 m 96 0.84 36 m@1.45 g/t Au
    426-520 m 54 0.67 18 m@1.10 g/t Au
DOA 845 DW-1300 346-430 m >84 0.42  
DOA 846 DW-500 326-420 m 94 1.18 56 m@1.56 g/t Au
    456-524 m 68 0.46  

All assays were performed by Laboratorio Geoanalitica, Coquimbo Chile. For diagrams illustrating the location of in-fill drilling results, please follow the following link to the Andina website http://andinaminerals.com/find/id/18/i6

Qualified Person
Mr. Michael Easdon is the Qualified Person under National Instrument 43-101 responsible for preparing and reviewing technical information on the Volcan Project in the Dorado and Ojo de Agua areas and ongoing field, sampling and analytical procedures in Chile concerning the afore mentioned drill results. Mr. Easdon has reviewed the contents of this press release.

Certain technical information regarding the Volcan Project required to be disclosed under Part 3 of National Instrument 43-101 is contained in the Technical Report on the Volcan Gold Project, Region III, Chile and Updated Mineral Resource Estimate for the Dorado Gold Deposits, dated October 23, 2009, prepared by Reno Pressacco, M.Sc. (A), P.Geo., Richard Gowans, P.Eng. and Sam Shoemaker, B.Sc., MAusIMM, each of Micon, and is available on SEDAR at www.sedar.com This includes information regarding project area geology, mineralization, rock types and geological controls.

QA/QC Protocols
Andina continues to utilize Canadian Institute of Mining, Metallurgy and Petroleum (CIMM) prescribed QA/QC (quality assurance and quality control) protocols for all sampling and assaying of the core and reverse circulation cuttings. The Dorado drill program utilizes extensive QA/QC protocols for assaying and core sample handling that consist of the systematic insertion of blanks, standards and duplicates as well as using a secondary laboratory for regular check assaying. The core boxes are transported to Copiapo where the core is cut with a Diamond saw with one-half of the core being placed in sealed bags, which are then taken to the Geoanalitica preparation facility in Copiapo for crushing and from which the crushed sample is shipped by Geoanalitica to the Geoanalitica assay facility in Coquimbo.

Geoanalitica analyses the samples for gold, copper and molybdenum. The gold assays are performed utilizing 30g fire assay with an atomic absorption spectroscopy (AAS) or gravimetric finish; the Cu and Mo are assayed for using standard wet analytical techniques.

About Andina Minerals Inc.
Andina�s primary focus is mining exploration and development in Chile. The Company�s flagship property is the 100%-owned Volcan Gold Project, strategically located in the prolific Maricunga Gold Belt. In September 2009, Andina provided an updated resource estimate for Volcan including measured and indicated mineral resources of 492.5 million tonnes at an average grade of 0.62 g/t Au for 9.8 million ounces of contained gold and inferred mineral resources of 36.8 million tonnes at an average grade of 0.65 g/t Au for 768,000 ounces of gold.

For further information please contact:

George M. Bee
President & CEO
416 203 3488

Investor Relations
416 203 3488

Or visit the Company�s website at www.andinaminerals.com.

Forward Looking Statements
This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to exploration activities and results (including the timing of results), the timing and success of exploration activities generally, permitting timelines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcomes of any pending litigation and timing and results of future resource estimates or future economic studies, and in particular include statements with respect to the timing of the reporting of drilling results. Often, but not always, forward-looking statements can be identified by the use of words such as �plans�, �planning�, �planned�, �expects� or �looking forward�, �does not expect�, �continues�, �scheduled�, �estimates�, �forecasts�, �intends�, �potential�, �anticipate�, �does not anticipate�, or �belief�, or describes a �goal�, or variation of such words and phrases or state that certain actions, events or results �may�, �could�, �would�, �might� or �will� be taken, occur or be achieved.

Forward-looking statements are based on a number of material factors and assumptions, including, among others, the result of drilling and exploration activities, that unexpected geological conditions or formations are not located, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although Andina has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Andina Minerals Inc.
56 Temperance Street, 3rd Floor, Toronto, ON, Canada M5H 3V5
Tel: 416 203 3488  Fax: 416 203 3438

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Data and Statistics for these countries : Canada | Chile | All
Gold and Silver Prices for these countries : Canada | Chile | All

Andina Minerals Inc.

EXPLORATION STAGE
CODE : ADM.V
CUSIP : 034219105
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Andina Min. is a gold and silver exploration company based in .

Andina Min. holds various exploration projects in Chile.

Its main exploration properties are ENCRUCIJADA, PAMPA BUENOS AIRES and VOLCAN in Chile.

Andina Min. is listed in Canada and in United States of America. Its market capitalisation is CA$ 102.1 millions as of today (US$ 99.4 millions, € 74.4 millions).

Its stock quote reached its lowest recent point on December 30, 2005 at CA$ 0.07, and its highest recent level on December 31, 2007 at CA$ 5.50.

Andina Min. has 129 271 000 shares outstanding.

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