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VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 17, 2011) – Andover Ventures Inc. (“Andover” or the “Company”) (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) is pleased to announce that the Company has more than doubled its land position at the Sun Property located in the Ambler Mining District, Northwest, Alaska. The Ambler district hosts one of the richest known volcanogenic-massive-sulphide (VMS) copper-zinc-lead-gold-silver deposits in the world. Andover previously held 112 State of Alaska claims, each representing a quarter section, or 160 acres. The Company has increased the number of state claims by staking an additional 118 claims for a total of 230 claims, representing a new land position of 36,800 acres.
There has been a renewed interest in the Ambler District over the past several years, emphasized by NovaGold Resources’ recent activities in the district. NovaGold has maintained a strong presence in the Ambler District since their acquisition of the Arctic Deposit in 2004. During 2011 NovaGold has (1) completed a positive Preliminary Economic Assessment by SRK Consulting (US), Inc. for the Arctic massive sulfide deposit, (2) formed a joint venture with NANA Regional Native Corporation for the nearby Ruby Creek (Bornite) copper deposit, and (3) decided to spin off the Ambler District and Ruby Creek assets into a new subsidiary, NovaCopper Inc. The creation of NovaCopper underscores NovaGold’s confidence in the Ambler District as a viable mining entity.
NovaGold’s recent actions, along with an assessment by Andover during the 2011 field season of the large size of the prospective area surrounding the Sun, S. W. Sun and Picnic Creek deposits, has prompted the company to expand its land position, thereby ensuring that all the prospective ground is covered by Andover claims.
Brad Peek, Andover’s General Manager for the Sun Project, states, “As our continued drilling expands the known resource base of these high grade deposits and with the increased interest from the State of Alaska toward building a road to the Ambler District, we want to be certain that all our bases are covered and that we have room to make new discoveries in the vicinity of the known mineralization.”
Larry Segerstrom, Andover’s COO, states, “The excellent results on the Sun property to date and the probability of expansion and new discoveries indicated that we should acquire these additional claims as insurance against any land issues in the future of the project.”
With the completion of the 2011 drill program, 76 holes (approximately 49,000 feet) have been drilled on the property. Andover drilled 27 of these holes; the others were done by previous operators, including Anaconda, Noranda, Sunshine Mining Company, Cominco and Bear Creek Mining Company.
The Sun Deposit now has a known strike length of more than one kilometer and is open to the northeast and down dip. There are now 50 drill holes that have intersected the mineralized zones of the Sun Deposit (not including S.W. Sun or the Picnic Creek area).
The above news release has been reviewed by Bradley C. Peek, Certified Professional Geologist (AIPG CPG-11299) and General Manager for the Sun Project for Andover Ventures. Mr. Peek is a National Instruments 43-101 Qualified Person and is responsible for the technical aspects of this press release.
About Andover:
Andover Ventures is a precious and base metal exploration and development company, headquartered in Vancouver, British Columbia, Canada. Andover Ventures’ holdings are located in the historic East Tintic Mining District, Utah, USA, and the polymetallic-rich Ambler Mining District, Alaska, USA.
For further information we invite you to visit us at www.andoverventures.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
