|
Minera Andes Inc. (TSX:MAI - News)(OTC.BB:MNEAF - News) is pleased to
announce the results of an updated independent mineral resource estimate as
at September 30, 2010 at the San Jose mine in Santa Cruz province, southern
Argentina. The contained silver in the Inferred Mineral Resources increased
by 133% and the contained gold increased by 122% compared to the December 31,
2009 estimate as reported by the Corporation in its March 31, 2010 Annual
Information Form. The increase is primarily due to the discovery of nine new
veins as well as important extensions of previously known veins, as reported
by the Corporation on October 7, 2010. An updated resource/reserve technical
report on the San Jose mine will be filed on SEDAR in the near future.
The San Jose mine is operated by Minera
Santa Cruz SA, a joint venture owned 51% by Hochschild Mining Argentina, a
wholly owned subsidiary of Hochschild Mining plc, and 49% by Minera Andes
S.A., a wholly owned subsidiary of the Corporation.
Rob McEwen, Chairman and CEO of Minera
Andes, said:
"The big increase in the inferred
silver and gold resources is terrific! It is the direct result of skilled
geologists having a significantly higher exploration budget for a most
prospective property. Our exploration goal is to meet and exceed the
exploration success of Andean Resources' neigbouring Cerro Negro
property."
Mineral Resources
At September 30, 2010, total Measured
and Indicated Mineral Resources at the San Jose Mine were 651,000 ounces of
gold and 44.2 million ounces of silver, contained in 3.0 million tonnes
grading 6.81 grams/tonne (g/t) gold and 462 g/t silver, or 83.3 million
ounces of silver equivalent. An additional 712,000 ounces of gold and 46.4
million ounces of silver, contained in 4.6 million tonnes, grading 4.87 g/t
gold and 317 g/t silver, or 89.2 million ounces of silver equivalent, are
classified as Inferred Resources. The mineral resources remain open along
strike and at depth in some areas.
Mineral Resources(i) - Contained Gold and Silver Metals
---------------------------------------------------------------------------
Classification Measured & Indicated Inferred
---------------------------------------------------------------------------
Ag Oz Au Oz Ag Oz Au Oz
(000's) (000's) (000's) (000's)
---------------------------------------------------------------------------
Total September 30, 2010 44,168 651 46,427 712
---------------------------------------------------------------------------
Total December 31, 2009 40,773 628 19,953 320
---------------------------------------------------------------------------
Percentage Change 8% 4% 133% 122%
---------------------------------------------------------------------------
(i)Contains 100 percent of the resources. Minera Andes' attributable share
of the resources and reserves is 49%. Mineral Resources are inclusive of
mineral reserves. Items may not total due to rounding. The cut-off for the
resource estimate was 148 g/t AgEq (Minera Andes uses an equivalency factor
of 1 gram Au is equivalent to 60 grams AgEq).
The September 30, 2010 resource estimate
is an interim updated estimate, and a comprehensive updated resource and
reserve estimate will be prepared for the year ending December 31, 2010 and
released near the end of the first quarter of 2011. Details of the September
30, 2010 resources by vein are provided in Exhibit 1.
The September 30, 2010 resource estimate
is net of 2010 mine production through September 2010, which was 323,398
tonnes at 6.68 g/t gold and 416 g/t silver. The new resources are a direct
result of an increased emphasis on exploration at San Jose. Through the end
of the third quarter of 2010, $5 million had been spent on exploration, and
exploration for the fourth quarter is expected to be approximately $1.5
million.
This news release is submitted by James
K. Duff, Chief Operating Officer of Minera Andes Inc.
About Minera Andes: Minera Andes is an
exploration company exploring for gold, silver and copper in Argentina with
three significant assets: A 49% interest in Minera Santa Cruz SA, owner of
the San Jose Mine in close proximity to Andean Resources' Cerro Negro
project; 100% ownership of the Los Azules copper deposit with an inferred
mineral resource of 10.3 billion pounds of copper and an indicated resource
of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of
exploration properties bordering Andean's Cerro Negro project in Santa Cruz
Province. The Corporation had $10 million USD in cash as at September 30,
2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the
company.
About Hochschild Mining plc: Hochschild
Mining plc is a leading precious metals company listed on the London Stock
Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining,
processing and sale of silver and gold. Hochschild has over forty years of
experience in the mining of precious metal epithermal vein deposits and
currently operates four underground epithermal vein mines, three located in
southern Peru, one in southern Argentina and one open pit mine in northern
Mexico. Hochschild also has numerous long-term prospects throughout the
Americas.
For further information, please contact:
Jim Duff or visit our Web site: www.minandes.com.
Technical Information
The contents of this press release have
been reviewed and approved by Eugene Puritch, P.Eng., President of P&E
Mining Consultants Inc. ("P&E"), a Qualified Person under NI
43-101 "Standards of Disclosure for Mineral Projects" ("NI
43-101"). P&E are independent consultants to the Corporation.
The December 31, 2009 resource estimates
were audited by P&E to confirm compliance with NI 43-101 and Canadian
Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral
Resources and Reserves, Definitions and Guidelines prepared by the CIM
Standing Committee on Reserve Definitions and adopted by CIM Council December
11, 2005. ("CIM"), and, that the employed methodologies have
generated reliable estimates of tonnage and grade for the mineral assets stated
in the Corporation's AIF dated March 30, 2010. The audit was completed by
James L. Pearson P.Eng., Alfred Hayden P.Eng. and Fred H. Brown CPG under the
direction of P&E's President Eugene Puritch, P.Eng, each of whom are
considered to be independent Qualified Persons under the NI 43-101.
The September 30, 2010 resource models
were developed using industry-accepted methods by P&E. The resource
estimate is based on drill hole data provided by our joint venture partner
Hochschild Mining Plc and by MSC, the joint venture operating company as
reported by the Corporation on October 7, 2010. All samples were collected in
accordance with industry standards. All drill core samples were submitted to
Alex Stewart Argentina S.A laboratory in Mendoza, Argentina for fire assay
and ICP analysis. Accuracy of results is tested through the systematic
inclusion of standards, blanks and check assays.
P&E constructed a wire frame block
model to estimate the resource. P&E estimated 'existing' vein resources
as of September 30, 2010 based on December 31, 2009 resources, depleted by
January 1st to September 30th, 2010 mine production. 'New' Inferred
Resources, (added during the period December 31, 2009 to September 30, 2010),
were estimated by P&E using a gold price of US$925 per ounce (oz) and
silver price of US$15 per oz for all mineral resources. P&E validated the
model estimates and found them to reasonably estimate grade and tonnage. The
mineral resource estimates are compliant with CIM Definition Standards for
Mineral Resources and Mineral Reserves as incorporated by reference in NI
43-101. The independent Qualified Persons as defined by NI 43-101 for the
purposes of the September 30, 2010 resource estimate disclosure are James L.
Pearson, P.Eng., Eugene Puritch, P.Eng., David Burga, P.Geo and Fred H.
Brown, CPG all of P&E and each a Qualified Person under NI 43-101.
The following summarizes the key
assumptions, parameters and methods used in the mineral resource estimate:
-- A marginal cutoff grade of 148 g/t of silver equivalent, representing
the variable operating cost of $53.87/t was used to estimate the mineral
resources.
-- Drill hole assay values and channel samples were combined for mineral
resource estimation.
-- Bulk density value used for the resource estimate was 2.60 tonnes per
cubic meter (t/m3) for all veins.
-- Assays values manually identified as potentially economic were
composited to length-weighted values.
-- Prior to block estimation, gold composite samples were cut to 150 g/t at
Huevos Verdes Sur,70 g/t at Frea and 40 g/t at Kospi. Silver assays were
cut to 10,000 g/t at Huevos Verdes Sur, 4,200 g/t at Frea, and 4,400 g/t
at Kospi. The capping values of the 'New' veins are summarized in the
table below.
---------------------------------------------------------------------------
Vein Ag Au
---------------------------------------------------------------------------
Antonella 520 30
---------------------------------------------------------------------------
Dos Lauras 1000 5
---------------------------------------------------------------------------
Extension Ayelen 600 5
---------------------------------------------------------------------------
Hera 500 6
---------------------------------------------------------------------------
Mara 400 4
---------------------------------------------------------------------------
Marta 800 8
---------------------------------------------------------------------------
Micaela 1400 30
---------------------------------------------------------------------------
Pacha 400 6
---------------------------------------------------------------------------
Shala 400 4
---------------------------------------------------------------------------
Sofia 1500 10
---------------------------------------------------------------------------
-- Grade estimation was undertaken with oriented search ellipsoids and
Ordinary Kriging where sufficient resolution was available for
variography, or by Inverse Distance Cubed (1/d3) weighting of composite
values in areas of lower resolution.
-- The San Jose mineral 'existing' vein and 'new' vein resource estimates
are based on 754 and 77 drill holes, respectively, and 10,744 channel
samples. Channel samples were taken from drift backs in the Huevos
Verdes Sur, Huevos Verdes Norte, Odin, Frea, and Kospi vein systems.
-- Mineral resource estimation was confined to areas considered to have a
reasonable degree of geological confidence.
Mineral resources that are not mineral
reserves do not have demonstrated economic viability.
The estimate of mineral resources may be
materially affected by environmental, permitting, legal, title, taxation,
sociopolitical, marketing, or other relevant issues. The quantity and grade
of reported inferred resources in this estimation are uncertain in nature and
there has been insufficient exploration to define these inferred resources as
an indicated or measured mineral resource and it is uncertain if further
exploration will result in upgrading them to an indicated or measured mineral
resource category. The mineral resources in this press release were estimated
using CIM Standards.
Caution Concerning Forward-Looking
Statements:
This press release contains certain
forward-looking statements and information. The forward-looking statements
and information express, as at the date of this press release, the
Corporation's plans, estimates, forecasts, projections, expectations or
beliefs as to future events and results. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Corporation's management, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies 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 precious 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 resources and reserves and
other risks
Readers should not place undue reliance
on forward-looking statements or information. The Corporation undertakes no
obligation to reissue or update forward-looking statements or information as
a result of new information or events after the date hereof except as may be
required by law. See the Corporation's annual information form for additional
information on risks, uncertainties and other factors relating to the
forward-looking statements and information. All forward-looking statements
and information made in this news release are qualified by this cautionary
statement.
Exhibit 1 - Resources by Vein
Mineral Resources at 148 g/t AgEq Cut-Off(i)
---------------------------------------------------------------------------
Vein Measured Indicated
---------------------------------------------------------------------------
Tonnes Ag Au Tonnes Ag Au
---------------------------------------------------------------------------
(000's) (g/t) (g/t) (000's) (g/t) (g/t)
---------------------------------------------------------------------------
Existing Veins
---------------------------------------------------------------------------
Ayelen 140.0 383 4.55
---------------------------------------------------------------------------
Frea 169.8 395 10.87 110.1 248 11.04
---------------------------------------------------------------------------
HVS 75.2 631 13.08 30.7 468 8.44
---------------------------------------------------------------------------
Sigmoide HVS 4.2 538 9.69 1.4 384 8.61
---------------------------------------------------------------------------
HVC 35.7 595 6.35 22.3 502 5.97
---------------------------------------------------------------------------
HVN 50.5 508 5.87 66.2 630 6.80
---------------------------------------------------------------------------
Kospy 106.7 820 8.67 391.3 755 9.46
---------------------------------------------------------------------------
Odin 2.4 949 12.19 347.2 335 5.03
---------------------------------------------------------------------------
RHVS 9.8 288 3.72 33.6 342 4.52
---------------------------------------------------------------------------
RFrea 17.7 697 7.88 49.2 526 6.95
---------------------------------------------------------------------------
R483 29.4 227 3.13 58.0 253 2.53
---------------------------------------------------------------------------
R480E 18.5 476 3.82 31.8 421 3.46
---------------------------------------------------------------------------
RKospy 8.8 95 5.51 59.6 174 5.09
---------------------------------------------------------------------------
RHVN 0.4 82 3.25 62.8 649 9.29
---------------------------------------------------------------------------
RHVN A 2.5 176 2.08
---------------------------------------------------------------------------
RHVN B 1.5 460 2.64
---------------------------------------------------------------------------
RHVN C 4.2 371 3.92 71.6 314 4.21
---------------------------------------------------------------------------
RHVND 3.5 997 13.63
---------------------------------------------------------------------------
RHVNE 0.9 361 2.97 22.7 630 7.05
---------------------------------------------------------------------------
Frea Odin 59.4 201 2.77
---------------------------------------------------------------------------
R861A 14.0 159 7.94 7.3 122 9.63
---------------------------------------------------------------------------
R861B 8.8 376 17.62 9.1 290 14.77
---------------------------------------------------------------------------
R861C 40.3 593 9.74 133.2 429 6.03
---------------------------------------------------------------------------
R861D Kospi 53.1 676 10.94
---------------------------------------------------------------------------
Rayelen 6.7 220 2.30
---------------------------------------------------------------------------
R350 7.8 93 6.06 19.0 216 6.44
---------------------------------------------------------------------------
SIGFrea 24.5 432 5.41 0.7 470 7.66
---------------------------------------------------------------------------
R360Frea 45.6 318 4.68
---------------------------------------------------------------------------
R425 2.1 307 2.69
---------------------------------------------------------------------------
Additions to Existing Veins
---------------------------------------------------------------------------
Extension Ayelen
---------------------------------------------------------------------------
350S 62.5 94 3.21
---------------------------------------------------------------------------
360E 70.2 258 2.04
---------------------------------------------------------------------------
701 HVC
---------------------------------------------------------------------------
721 HVC 6.7 319 3.48 22.4 211 2.15
---------------------------------------------------------------------------
Benita 49.2 475 3.06
---------------------------------------------------------------------------
Chenque 16.7 203 2.03
---------------------------------------------------------------------------
Dalia 13.3 87 2.29
---------------------------------------------------------------------------
Noel 6.7 572 9.22 70.8 405 8.81
---------------------------------------------------------------------------
861E 53.3 646 6.00 94.5 470 4.06
---------------------------------------------------------------------------
861F 36.8 756 6.01
---------------------------------------------------------------------------
861G
---------------------------------------------------------------------------
New Veins
---------------------------------------------------------------------------
Antonella
---------------------------------------------------------------------------
Dos Lauras
---------------------------------------------------------------------------
Hera
---------------------------------------------------------------------------
Mara
---------------------------------------------------------------------------
Marta
---------------------------------------------------------------------------
Micaela
---------------------------------------------------------------------------
Pacha
---------------------------------------------------------------------------
Shala
---------------------------------------------------------------------------
Sofia
---------------------------------------------------------------------------
Total September 30, 2010 696.3 529 8.61 2,278.6 441 6.26
---------------------------------------------------------------------------
Total December 31, 2009 691.8 527 9.11 1,952.8 463 6.78
---------------------------------------------------------------------------
Percentage Change 1% 0% -5% 17% -5% -8%
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Vein Measured & Indicated Inferred
---------------------------------------------------------------------------
Tonnes Ag Au Tonnes Ag Au
---------------------------------------------------------------------------
(000's) (g/t) (g/t) (000's) (g/t) (g/t)
---------------------------------------------------------------------------
Existing Veins
---------------------------------------------------------------------------
Ayelen 140.0 383 4.55 408.1 344 3.78
---------------------------------------------------------------------------
Frea 279.9 338 10.94 168.7 144 8.79
---------------------------------------------------------------------------
HVS 105.9 584 11.74 29.4 450 8.10
---------------------------------------------------------------------------
Sigmoide HVS 5.6 499 9.42
---------------------------------------------------------------------------
HVC 58.0 559 6.21 27.2 690 7.59
---------------------------------------------------------------------------
HVN 116.7 577 6.40 56.3 338 3.96
---------------------------------------------------------------------------
Kospy 498.0 769 9.30 171.7 585 7.62
---------------------------------------------------------------------------
Odin 349.6 339 5.08 451.1 227 4.42
---------------------------------------------------------------------------
RHVS 43.4 330 4.34 24.9 407 3.16
---------------------------------------------------------------------------
RFrea 66.9 571 7.19 103.7 325 5.39
---------------------------------------------------------------------------
R483 87.4 244 2.73 1.9 199 0.84
---------------------------------------------------------------------------
R480E 50.3 441 3.59 1.0 677 2.91
---------------------------------------------------------------------------
RKospy 68.4 164 5.14 75.2 237 4.62
---------------------------------------------------------------------------
RHVN 63.2 645 9.25 12.3 517 7.58
---------------------------------------------------------------------------
RHVN A 2.5 176 2.08 42.0 145 1.73
---------------------------------------------------------------------------
RHVN B 1.5 460 2.64 11.1 348 2.09
---------------------------------------------------------------------------
RHVN C 75.8 317 4.20 16.6 369 4.24
---------------------------------------------------------------------------
RHVND 3.5 997 13.63 19.3 627 7.99
---------------------------------------------------------------------------
RHVNE 23.6 620 6.89 12.9 714 5.94
---------------------------------------------------------------------------
Frea Odin 59.4 201 2.77 92.1 198 4.26
---------------------------------------------------------------------------
R861A 21.3 146 8.52 19.2 185 6.53
---------------------------------------------------------------------------
R861B 17.8 332 16.17 13.0 296 9.36
---------------------------------------------------------------------------
R861C 173.6 467 6.89 10.1 379 5.36
---------------------------------------------------------------------------
R861D Kospi 53.1 676 10.94 18.5 785 14.28
---------------------------------------------------------------------------
Rayelen 6.7 220 2.30 97.6 218 2.22
---------------------------------------------------------------------------
R350 26.8 180 6.33 14.7 108 2.52
---------------------------------------------------------------------------
SIGFrea 25.2 433 5.47 0.2 647 11.43
---------------------------------------------------------------------------
R360Frea 45.6 318 4.68 26.0 282 4.72
---------------------------------------------------------------------------
R425 2.1 307 2.69 82.2 285 2.29
---------------------------------------------------------------------------
Additions to Existing Veins
---------------------------------------------------------------------------
Extension Ayelen 213.8 299 2.64
---------------------------------------------------------------------------
350S 62.5 94 3.21 1.5 55 2.26
---------------------------------------------------------------------------
360E 70.2 258 2.04 0.7 175 1.98
---------------------------------------------------------------------------
701 HVC 17.2 258 3.81
---------------------------------------------------------------------------
721 HVC 29.2 236 2.46
---------------------------------------------------------------------------
Benita 49.2 475 3.06 12.0 764 4.80
---------------------------------------------------------------------------
Chenque 16.7 203 2.03 40.6 371 4.03
---------------------------------------------------------------------------
Dalia 13.3 87 2.29 25.2 91 2.49
---------------------------------------------------------------------------
Noel 77.5 420 8.85 23.4 347 5.45
---------------------------------------------------------------------------
861E 147.8 533 4.76 5.4 482 5.05
---------------------------------------------------------------------------
861F 36.8 756 6.01 1.2 540 3.40
---------------------------------------------------------------------------
861G 41.8 403 4.41
---------------------------------------------------------------------------
New Veins
---------------------------------------------------------------------------
Antonella 240.2 210 4.64
---------------------------------------------------------------------------
Dos Lauras 198.2 228 2.56
---------------------------------------------------------------------------
Hera 120.6 204 2.82
---------------------------------------------------------------------------
Mara 55.3 197 2.54
---------------------------------------------------------------------------
Marta 136.5 139 2.53
---------------------------------------------------------------------------
Micaela 823.7 345 6.48
---------------------------------------------------------------------------
Pacha 45.7 105 2.21
---------------------------------------------------------------------------
Shala 33.3 293 2.80
---------------------------------------------------------------------------
Sofia 507.6 491 5.74
---------------------------------------------------------------------------
Total September 30, 2010 2,974.9 462 6.81 4,551.0 317 4.87
---------------------------------------------------------------------------
Total December 31, 2009 2,644.6 480 7.39 2,002.0 310 4.98
---------------------------------------------------------------------------
Percentage Change 12% -4% -8% 127% 2% -2%
---------------------------------------------------------------------------
(i)Contains 100 percent of the resources. Minera Andes' attributable share
of the reserves is 49%. Mineral Resources are inclusive of mineral reserves.
Totals may not sum exactly due to rounding.
Mineral Resources at 148 g/t AgEq Cut-Off(i) -
Contained Gold and Silver Metals
---------------------------------------------------------------------------
Measured &
Measured Indicated Indicated Inferred
---------------------------------------------------------------------------
Ag Oz Au Oz Ag Oz Au Oz Ag Oz Au Oz Ag Oz Au Oz
---------------------------------------------------------------------------
(000's) (000's) (000's) (000's) (000's) (000's) (000's) (000's)
---------------------------------------------------------------------------
Existing Veins
---------------------------------------------------------------------------
Ayelen 1,722 20 1,722 20 4,512 50
---------------------------------------------------------------------------
Frea 2,158 59 880 39 3,038 98 783 48
---------------------------------------------------------------------------
HVS 1,527 32 462 8 1,989 40 426 8
---------------------------------------------------------------------------
Sigmoide
HVS 73 1 17 0 90 2
---------------------------------------------------------------------------
HVC 683 7 360 4 1,044 12 603 7
---------------------------------------------------------------------------
HVN 824 10 1,341 14 2,164 24 612 7
---------------------------------------------------------------------------
Kospy 2,812 30 9,498 119 12,310 149 3,229 42
---------------------------------------------------------------------------
Odin 73 1 3,743 56 3,815 57 3,294 64
---------------------------------------------------------------------------
RHVS 91 1 370 5 460 6 326 3
---------------------------------------------------------------------------
RFrea 397 4 832 11 1,229 15 1,082 18
---------------------------------------------------------------------------
R483 214 3 471 5 686 8 12 0
---------------------------------------------------------------------------
R480E 283 2 430 4 713 6 22 0
---------------------------------------------------------------------------
RKospy 27 2 334 10 361 11 572 11
---------------------------------------------------------------------------
RHVN 1 0 1,310 19 1,311 19 204 3
---------------------------------------------------------------------------
RHVN A 14 0 14 0 196 2
---------------------------------------------------------------------------
RHVN B 22 0 22 0 124 1
---------------------------------------------------------------------------
RHVN C 50 1 723 10 773 10 197 2
---------------------------------------------------------------------------
RHVND 112 2 112 2 389 5
---------------------------------------------------------------------------
RHVNE 10 0 460 5 470 5 296 2
---------------------------------------------------------------------------
Frea Odin 383 5 383 5 588 13
---------------------------------------------------------------------------
R861A 72 4 29 2 100 6 114 4
---------------------------------------------------------------------------
R861B 106 5 84 4 190 9 124 4
---------------------------------------------------------------------------
R861C 770 13 1,839 26 2,609 38 123 2
---------------------------------------------------------------------------
R861D Kospi 1,154 19 1,154 19 467 8
---------------------------------------------------------------------------
Rayelen 47 0 47 0 685 7
---------------------------------------------------------------------------
R350 23 2 132 4 155 5 51 1
---------------------------------------------------------------------------
SIGFrea 340 4 10 0 350 4 4 0
---------------------------------------------------------------------------
R360Frea 467 7 467 7 236 4
---------------------------------------------------------------------------
R425 21 0 21 0 753 6
---------------------------------------------------------------------------
Additions to Existing Veins
---------------------------------------------------------------------------
Extension
Ayelen 2,058 18
---------------------------------------------------------------------------
350S 189 6 189 6 3 0
---------------------------------------------------------------------------
360E 583 5 583 5 4 0
---------------------------------------------------------------------------
701 HVC 142 2
---------------------------------------------------------------------------
721 HVC 69 1 152 2 222 2
---------------------------------------------------------------------------
Benita 752 5 752 5 296 2
---------------------------------------------------------------------------
Chenque 109 1 109 1 484 5
---------------------------------------------------------------------------
Dalia 37 1 37 1 74 2
---------------------------------------------------------------------------
Noel 123 2 923 20 1,046 22 262 4
---------------------------------------------------------------------------
861E 1,108 10 1,427 12 2,535 23 84 1
---------------------------------------------------------------------------
861F 894 7 894 7 20 0
---------------------------------------------------------------------------
861G 541 6
---------------------------------------------------------------------------
New Veins
---------------------------------------------------------------------------
Antonella 1,622 36
---------------------------------------------------------------------------
Dos Lauras 1,451 16
---------------------------------------------------------------------------
Hera 790 11
---------------------------------------------------------------------------
Mara 351 5
---------------------------------------------------------------------------
Marta 611 11
---------------------------------------------------------------------------
Micaela 9,124 172
---------------------------------------------------------------------------
Pacha 154 3
---------------------------------------------------------------------------
Shala 314 3
---------------------------------------------------------------------------
Sofia 8,016 94
---------------------------------------------------------------------------
Total
September
30, 2010 11,834 193 32,335 459 44,168 651 46,427 712
---------------------------------------------------------------------------
Total
December
31, 2009 11,718 203 29,055 426 40,773 628 19,953 320
---------------------------------------------------------------------------
Percentage
Change 1% -5% 11% 8% 8% 4% 133% 122%
---------------------------------------------------------------------------
(i)Contains 100 percent of the resources. Minera Andes' attributable share
of the reserves is 49%. Mineral Resources are inclusive of mineral reserves.
Totals may not sum exactly due to rounding.
The TSX has not reviewed and does not
accept responsibility for the adequacy or accuracy of the contents of this
news release, which has been prepared by management.
|
|