Andean American Gold Corp.

Andean American Gold Corp.

May 07, 2008 08:30 ET

Andean American Confirms Continuation of Mineralization at Invicta, Announces Sampling Results from Crosscut-315 N

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2008) - Andean American Mining Corporation (TSX VENTURE:AAG)(FRANKFURT:AQN)(BVL:AAG) is pleased to announce results from sampling of the Crosscut-315 N, on the 3400 Level Adit on the Atenea Structure, at the Invicta Property in Peru.

The 3400 Level Adit is being driven at the 3,400m elevation parallel to, and in the hanging wall, of the Atenea Vein Structure, to provide access to drill test the Atenea Vein Structure below the 3,400m level. The anticipated total length of the 3400 Level Adit is 600 metres. A second access crosscut, Crosscut-315 N of approximately 100 metres length was driven north from the 410 metre point, approximately 210 metres east of the first access crosscut (See News Release dated February 26, 2008). The Atenea Vein Structure was intersected at approximately 70 metres in the Crosscut-315 N.

Massive to semi-massive mineralization the same as encountered in the first access crosscut and galleries returned the following results;

West Wall East Wall

18.90m 12.30m
0.60 g/t Au 0.67 g/t Au
18.1 g/t Ag 18.6 g/t Ag
0.79% Cu 0.79% Cu
0.61% Pb 0.87% Pb
1.15% Zn 1.28% Zn

True widths are estimated to be 85% of the apparent widths.

"The results of the underground development continue to exceed our expectations," states President Andrew Gourlay. "We are very pleased with the widths of mineralization being encountered in the 3400 Level Adit, which confirm our belief that the Atenea Structure is well mineralized."

The Atenea Vein Structure consists of quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite. The quartz varies from white to grey, and displays acicular crystals, cockade textures and open spaced filling, with rare vugs lined with quartz crystals to 5cm size. The sulphides within the quartz vary from disseminated to massive. The Atenea Structure has been traced for over 600 metres of strike length by mapping and diamond drilling, and remains open in both strike directions and to depth.

The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report dated July 24, 2007.

Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay's supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accredited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to shipment from site to monitor the quality control of the analytical data.

On behalf of Andean American Mining Corp.,

John Huguet, Chairman & CEO

Andean American Mining Corp. (TSX VENTURE:AAG)(FRANKFURT:AQN)(BVL:AAG) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 41,500 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.

This news release may contain forward-looking information within the meaning of the Securities Act (Ontario) ("forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of gold and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Andean American Mining Corp.
    John Huguet
    Chairman & CEO
    (604) 681-6186 or Toll Free: 1-888-356-4784