ANDINA Minerals Inc.

ANDINA Minerals Inc.

March 26, 2008 08:51 ET

ANDINA: Ojo de Agua Drilling Returns 48 Metres Grading 2.54 g/t Gold

Continuity Established at Newly Discovered Florencia Zone - 304 Metres Grading 0.55 g/t Gold

TORONTO, ONTARIO--(Marketwire - March 26, 2008) - ANDINA Minerals Inc. (TSX VENTURE:ADM) ("Andina") is pleased to report highlights from seven exploration drill holes, totalling 4,100 metres, from the Ojo de Agua area of its Volcan Gold Project. Table 1 summarizes the significant assay results and a drill plan for the Ojo de Agua area is attached.

One of the three drill holes targeting the Andrea zone returned 66 metres grading 1.94 grams per tonne gold ("g/t Au") including a higher grade interval of 48 metres grading 2.54 g/t Au.

The continuity of a new gold zone, the Florencia zone, was established by drill hole DODA-718 which returned 304 metres of altered breccias grading 0.55 g/t Au including 152 metres grading 0.73 g/t Au. To date, two drill holes have cut the Florencia zone which currently has a strike extent of 150 metres, but remains open to the west and to depth.

Table 1 Ojo de Agua Drill Assay Results (March 2008)
Hole From To Length(1) Gold Target
# (metres) (metres) (metres) (g/t Au)
DODA-706 118 144 26 0.57 Andrea Zone
RODA-707 No significant results Andrea Zone
DODA-721 240 306 66 1.94 Andrea Zone
including 252 300 48 2.54
348 372 24 0.62
DODA-718 204 508 304 0.55 Florencia Zone
- IP Anomaly
including 348 500 152 0.73 448m - 500m,
52 m @ 0.2% Cu
(1) All intervals represent down-hole lengths and not true widths

"The recent higher grade results from the Andrea zone and the discovery of the Florencia zone reinforces our belief in the potential of the Ojo de Agua area to host significant gold mineralization," stated Carl B. Hansen, President and CEO of Andina. "Once we receive the assays from three remaining holes in Ojo de Agua, we will remobilize drill rigs into the area with the goal of completing sufficient drilling by the end of the season to allow for the establishment of a resource estimate for the Andrea and Florencia zones."

Andrea Zone Highlights

Drill hole DODA-721 was collared to test the depth potential of the central portion of the Andrea zone and returned a 66 metre interval grading 1.94 g/t Au including a higher grade zone of 48 metres grading 2.54 g/t Au at a vertical depth of 235 metres. The gold mineralization is associated with minor grey banded quartz veinlets cutting a dacitic breccia. The results from DODA-721 suggest that the near surface gold mineralization, tested during the 2006/07 drilling campaign, may coalesce into higher mineralization at depth. Drill holes DODA-706 and DODA-707 have defined the south eastern strike extent of the Andrea zone while the mineralization remains open along strike to the northwest and to depth.

Florencia Zone Highlights

Located approximately 600 metres southwest of the Andrea zone, the continuity of a new zone of gold mineralization, the Florencia zone, was established by diamond drill hole DODA-718, which intersected 304 metres of altered breccias grading 0.55 g/t Au including 152 metres grading 0.73 g/t Au. The drill hole was a 150 metre step-out hole from RODA-701 (252 metres grading 0.46 g/t Au including 102 metres grading 0.65 g/t Au). The Florencia zone, which is open to the west and to depth, is associated with an induced polarization (chargeability) anomaly which extends over a strike length of greater than one kilometre. The eastern extension of the new zone has been limited by drill holes DODA-723 and DODA-727.

Elsewhere in the Ojo de Agua area, drill holes DODA-716 and RODA-720, collared to the northwest of the new Florencia zone did not return any significant results.

Volcan Gold Project Exploration Program Update

With improving drilling conditions on the Volcan Gold Project and 30,300 metres of drilling completed to date, it is anticipated that the ongoing Phase IV drill program will meet the revised drilling target of 40,000 metres prior to the end of the exploration season. At present, six drill rigs are drilling on the Dorado West Deposit completing both infill and step-out drilling. It is anticipated that two drill rigs will return to the Ojo de Agua area in early April.


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 NI 43-101 compliant technical report related to the October 2007 resource estimate prepared by Mr. Gonzalez is filed with SEDAR and can be viewed at

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.


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 timing and 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.

To view the Andina Minerals Inc. Volcan Gold Project map please visit the following link:

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