Andover Mining Corp.

Andover Mining Corp.

August 08, 2012 09:00 ET

Andover Identifies Six New VMS Prospects on Sun Property, Ambler Mining District, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2012) - Andover Mining Corp. ("Andover" or the "Company") (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) is pleased to report on its successful reconnaissance efforts at its SUN, a Cu-Pb-Zn-Ag-Au rich Volcanogenic Massive Sulfide (VMS), project in the eastern portion of the Ambler Mineral Belt, located in the Southern Brooks Range of Alaska. The Ambler Mineral Belt also hosts Nova Copper's Arctic and Bornite Deposits and Teck Resource's Smucker Deposit in addition to Andover's SUN and S.W. SUN Deposits.

At least six new VMS prospects have now been identified, mapped and sampled (to view the SUN prospect location map, visit Andover's website at Initial results from three of these prospects (SAL, STU, and Picnic Creek) have generated immediate drill targets. Initial drill testing of these targets is scheduled for this summer with a Versadrill field portable drill rig, operated by Core One Drilling Inc. of Delta, Colorado.

At the SAL prospect, located approximately 8 km to the west of the SUN Deposit, strong alteration with strong iron staining within the highly prospective rock package has been mapped for approximately 200 meters along strike before disappearing underneath cover. Grab samples from gossan and altered rocks in the area have returned assay values of up to 1.8% Copper, 1.48% Lead, 1.34% Zinc, 42 g/T Silver, and 0.54 g/T Gold. The target has never been drilled and the area is easily accessible for drilling.

At the STU prospect, located approximately 0.5 km southwest of the SAL prospect, strong alteration and gossan within the highly prospective rocks has been mapped for approximately 100 meters along strike before disappearing beneath cover. Grab samples from the STU area have returned values of up to 2.04% Copper, 0.95% Lead, 1.21% Zinc, 64 g/T Silver and 0.49 g/T Gold. The target has never been drilled and the area is easily accessible for drilling.

At the Picnic Creek target area, located in the headwaters of Picnic Creek, approximately 1 km north of the northern part of the drilled SUN Deposit, altered and iron stained gossanous rocks of the highly prospective package outcrop in a roughly 50m X 100m area. However, much of the area where the prospective rocks are thought to occur is covered by extensive talus materials. Ferrocrete gossans are currently forming from natural ground water springs, indicating weathering sulfides (i.e. VMS mineralization) may be present beneath the talus cover. Grab samples of oxidized rocks have run up to 0.26% Copper, 250ppm Lead, 450ppm Zinc, 4.5 g/T Silver, and 0.42 g/T Gold. The target area is easily accessible for drilling.

The remaining prospects (SAM, SOL, and SUE) are less well known and mapping and sampling continues on these showings and prospecting is continuing along the remainder of the strike extent of the highly prospective rocks within Andover's claim block.

"We were well aware that the SUN project area had more mineralization than just the SUN and S.W. SUN Deposits," said Kent Turner, Andover's COO, "but we are pleasantly surprised at the strength of the mineralization over such a large area. With Cu-Pb-Zn-Ag-Au mineralization now documented over at least 10 miles (16 km) of strike length, the SUN project area is worthy of considering as a district by its self within the greater Ambler Mineral Belt, and we intend to aggressively pursue the potential of new deposits within the entirety of our district."

Andover's SUN project is located on approximately 36,800 acres of 100% Andover-owned Alaska State Mineral claims. The claims cover approximately 10 miles (16 km) of strike length of the highly prospective schist belt that hosts the SUN, Arctic and Smucker VMS systems. Andover geologists, under the direction of project manager Mr. Bradley Peek (a Qualified Person for the purpose of National Instrument 43-101 and who has overseen the work reported here), have conducted reconnaissance mapping and sampling along Andover's portion of the belt where mineralization had been reported.

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.

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Gordon Blankstein, CEO and Chairman

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