Antofagasta expects 2024 copper output at low end of yearly forecast
Antofagasta produced 284,700 metric tons of copper in the first half, down 3.7% from the same period in 2023.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 21, 2012) – Andover Mining Corp. (“Andover” or the “Company”) (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) is pleased to announce assay results from its 2012 drilling program on the Main SUN Deposit on the Company’s SUN District project located in the Ambler Mineral Belt, Northwest Alaska.
Drill core from the 2012 program was logged, split and boxed on site by Andover’s geologists. Core from SUN 12-31 and SUN 12-33 were shipped to the ALS-Chemex Prep Lab in Fairbanks, Alaska. The pulps from Fairbanks were analyzed for 35 elements at the ALS-Chemex facilities in Vancouver, British Columbia and the gold assays were performed at ALS-Chemex facilities in Reno, Nevada. Base metal over-limits were wet assayed. Blanks and standards were inserted with each sample shipment.
Drill hole SUN 12-31 was completed at a depth of approximately 316 meters and drill hole SUN 12-33 was completed at a depth of approximately 154 meters. Both these drill holes tested the Main SUN Deposit (see news release dated August 8/ 2012 and July 18/ 2012 for previously released 2012 drill results). Significant drill intercepts from SUN 12-31 and SUN 12-33 are reported in the following table.
| Drill Hole | From (M) |
To (M) |
Interval (M) |
Cu (%) |
Pb (%) |
Zn (%) |
Ag (g/t) |
Au (g/t) |
| SUN 12-31 | 169.6 | 170.3 | .7 | 1.74 | .61 | 4.12 | 53.1 | .439 |
| SUN 12-31 | 174.0 | 181.4 | 7.4 | 1.02 | .91 | .54 | 11.4 | .217 |
| SUN 12-31 | 203.7 | 206.8 | 3.1 | 2.03 | .83 | 2.59 | 53.6 | .252 |
| SUN 12-31 | 282.4 | 284.6 | 2.2 | .55 | .15 | .52 | 12.7 | .079 |
| SUN 12-33 | 82.3 | 89.3 | 7.0 | 2.31 | 3.03 | 8.55 | 142.8 | .509 |
| SUN 12-33 | 104.8 | 105.0 | .2 | .81 | 1.17 | 7.19 | 14.7 | .038 |
| SUN 12-33 | 109.5 | 110.2 | .7 | .74 | 1.28 | 4.72 | 40.4 | .399 |
| SUN 12-33 | 121.2 | 121.5 | .3 | .67 | 1.16 | 4.38 | 39.2 | .091 |
Drill hole SUN 12-29 was the first drill hole of the 2012 drill program at the SUN property and tested the Main SUN Deposit. Significant drill intercepts from SUN 12-29 are as follows.
| Drill Hole | From (M) |
To (M) |
Interval (M) |
Cu (%) |
Pb (%) |
Zn (%) |
Ag (g/t) |
Au (g/t) |
| SUN 12-29 | 71.9 | 80.5 | 8.6 | 1.49 | 1.60 | 9.03 | 66.2 | .190 |
| SUN 12-29 | 100.5 | 106.7 | 6.2 | 2.73 | 1.27 | 6.54 | 116.4 | .396 |
| SUN 12-29 | 130.0 | 132.3 | 2.3 | 1.68 | .26 | 1.04 | 48.9 | .142 |
“The drilling on the Main SUN Deposit continues to define and increase the known size of the deposit,” states Kent Turner, Andover’s COO. “We have retained Mine Development Associates of Reno, Nevada to complete a National Instrument 43-101 compliant resource calculation and a preliminary economic assessment for the SUN Deposit after the 2012 drill campaign is completed.”
Drilling continues on both the SUN Deposit and S.W. SUN Deposit. Further assays will be released as they are received. Drilling is being conducted on a 24 hour basis, 7 days a week, and is expected to continue into September 2012.
This news release has been reviewed by Bradley C. Peek, Certified Professional Geologist (AIPG CPG-11299) and General Manager for Andover’s Ambler District projects. Mr. Peek is a National Instrument 43-101 qualified person and is responsible for the technical aspects of this news release.
About Andover:
Andover is a precious and base metal exploration and development company focused on copper exploration at its flagship asset, the SUN project, located in the Ambler Mining District, Northwest, Alaska. The Ambler District hosts world-class VMS deposits containing copper, zinc, lead, gold and silver. The Ambler District is one of the richest and most-prospective copper districts located in one of the safest geopolitical jurisdictions in the world. In Utah, Andover, through its 83.5% ownership of Chief Consolidated Mining Company whose lands located in the historic East Tintic Mining District, has a multi faceted development approach. The Big Hill project, where Kennecott Exploration Company can earn a 55% interest by carrying Chief through to the end of a Feasibility Study, is focused on a large porphyry copper prospect. The Burgin Complex, host to a limestone, silver lead zinc deposit has completed a PEA and is preparing this deposit and the Trixie gold mine toward exploitation.
For further information we invite you to visit us at www.andovermining.com.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
Neither 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.
