ANDINA Minerals Inc.

ANDINA Minerals Inc.

February 25, 2008 07:30 ET

ANDINA Minerals Inc.: Dorado West Zone Drilling Returns 836 Metres Grading 0.64 g/t Gold

New Gold Zone Discovered in the Dorado NW Zone Area

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2008) - ANDINA Minerals Inc. (TSX VENTURE:ADM) ("Andina") is pleased to report further diamond drilling results from its continuing Volcan Gold Project exploration program. The Volcan Gold Project is strategically located in Chile's Maricunga Gold Belt, 120 kilometres east of Copiapo and 23 kilometres northeast of Kinross Gold's Maricunga gold mine.

Drill assay results from Volcan's Dorado West Zone gold deposit include an 836 metre interval grading 0.64 grams per tonne gold ("g/t Au"), from drill hole DOA-697, including 254 metres grading 1.19 g/t Au (see Table 1). The diamond drill hole cut the Dorado West Zone deposit 300 metres below DOA-676 which had returned 668 metres grading 0.81 g/t with a core zone of 238 metres grading 1.36 g/t Au. Drill hole DOA-698, which returned 193 metres grading 0.57, is one of the most northerly holes drilled on the Dorado West Zone to date confirming the strike extension of the gold deposit to the northeast.

Two holes were drilled into the Dorado NW Zone including DOA-711 which cut a new zone of gold mineralization approximately 200 metres north of the Dorado NW Zone. The new gold zone is situation along the margins of an induced polarization ("IP") chargeability anomaly. Assay results for the first 152 metres of the 600 metre drill hole have been received with the last 76 metres of the drill hole returning 0.88 g/t Au including a 22 metre interval of 1.43 g/t Au. The remaining assay results are pending.

Table 1 Significant Drill Assay Results (February 2008)
Hole Section From To Length (1) Grade
# (metres) (metres) (metres) (g/t Au) Notes
Cuts across
West Zone
DOA-697 1150 0 836 836 0.64 deposit
including 0 86 86 0.92
and 162 218 56 0.74
and 564 818 254 1.19
including 582 714 132 1.56
NE extension
of West Zone
DOA-698 1300 318 510 192 0.57 deposit
DOA-703 1500 134 294 160 0.41 NW Zone
NW Zone area
- partial
results to
DOA-711 1600 76 152 76 0.88 152 m
including 114 136 22 1.43

(1) All intervals represent down-hole lengths and not true widths

Three holes, drilled to test IP chargeability anomalies in the Dorado area, returned no significant results. Two holes tested the western side of an IP anomaly approximately 500 metres northwest of the Dorodo West Zone. A third hole was collared approximately 500 metres northwest of the Dorado East Zone gold deposit.

Exploration Update / Timing of Resource Estimate

The initial exploration drill program on Volcan's Ojo de Agua area has been completed. All six drill rigs are presently drilling on the Dorado West Zone gold deposit with the goal of both expanding the gold resource and improving the resource confidence level by converting inferred category ounces to the measured and indicated category. Once we have evaluated the results from the initial Ojo de Agua program, new targets will be identified for further drilling.

Due to poor weather this season along with poor drilling productivity earlier in the program it is now anticipated that approximately 40,000 metres of drilling will be completed by the end of the Phase IV program, a reduction of approximately 20% compared to initial plans. Resource drilling in the Dorado area will not be negatively impacted by the overall reduction in meters drilled. An updated resource estimate will be available during the second quarter 2008.


Under National Instrument 43-101 ("NI 43-101") of the Canadian Securities Administrators, the independent qualified person for the Volcan Gold Project is Ralph Gonzalez, a resident of Burnaby, British Columbia, Canada. Mr. Gonzalez is a professional engineer registered with the Association of Professional Engineers of the Province of Manitoba since 1977 and a Professional Geologist registered with the Association of Professional Engineers and Geoscientists in the Province of British Columbia since 1992. The recently released October 2007 resource estimate was prepared by NCL Ingenieria y Construccion S.A., Santiago, Chile in conjunction with Eduardo Magri, Ph.D. in mining engineering (Witwatersrand) and a Fellow of the SAIMM with over 30 years of industry experience. A NI43-101 compliant technical report related to the October 2007 resource estimate prepared by Mr. Gonzalez is filed on the SEDAR system (

Reverse circulation ("RC") chips and diamond drill core from Andina's Volcan drilling campaign are collected at the drill under the direct supervision of Andina staff. Both the RC samples and drill core are appropriately tagged, secured and transported to the Andina exploration camp and then to Andina's secure sample logging and preparation site in Copiapo, Chile. RC chip samples are split to obtain a 15 kilogram sample for assay purposes. Representative chips are collected from each sample for logging purposes. Drill core is logged, marked at two metre intervals for sampling and split longitudinally with a diamond drill saw. One half of the core is bagged and sample tags attached and the second half of the core is returned to the core boxes. All samples were appropriately tagged and securely stored prior to shipping to Asesoria Minera Geoanalitica Ltda.'s ("Geoanalitica") laboratory in La Serena, Chile.

Samples are processed and analyzed for gold using fire assay techniques using two assay/ton samples (about 50 gram) with an atomic absorption spectrographic finish for a sensitivity of 5 ppb (.005 ppm) gold with atomic absorption finish. Samples which return gold values greater than 1.00 g/t Au are re-analyzed by Geoanalitica using fire assay techniques with a gravimetric finish. Duplicate samples are inserted at a rate of approximately 5%. Approximately 15% of the samples submitted to Geoanalitica comprise standard, blanks and duplicated samples ensure laboratory quality control procedures.

About Andina Minerals Inc.

Andina is an Americas-focused exploration company, with a portfolio of precious metals exploration projects in Chile, including its flagship Volcan Gold Project, strategically located in the Maricunga Gold Belt.


This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to results of due diligence, conclusion of legal documentation, exploration results, the success of exploration activities generally, permitting time lines, mine development prospects, government regulation of exploration and mining operations, timing of scoping-level studies, future share issuances, and title disputes or claims. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "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 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 results of due diligence activities, 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; 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 Andina'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.

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

Contact Information

  • ANDINA Minerals Inc.
    Carl B. Hansen
    President and CEO
    (416) 203-3488
    ANDINA Minerals Inc.
    Tracey M. Thom
    Vice President, Investor Relations
    (416) 203-3488