Vancouver — Reconnaissance surface sampling at
The results confirm the mineralized nature of four separate structural trends that were outlined by previous geological and geophysical surveys. The sampling was performed by Minera Andes’ joint-venture partner, Peru-based Mauricio Hochschild & Co., and is part of a larger, property-wide program of mapping and sampling.
The overall, US$1.3-million program is testing nine prospects around the Huevos Verdes high-grade gold vein with 3,600 metres of trenching, to be followed by 3,000 metres of drilling. The partners are testing for “low-sulphidation style” epithermal gold mineralization hosted in Jurassic-aged volcanic rocks overlain by Cretaceous sediments and Tertiary basalts.
Minera Andes recently announced an independent resource estimate on a 2.2-km portion of one of the four vein trends at Huevos Verdes. This vein system is near the centre of the property and hosts an indicated resource of 1.9 million tonnes grading 2.1 grams gold and 214.5 grams silver per tonne. An additional 2.7 million tonnes grading 2.5 grams gold and 253.5 grams silver are in the inferred category. Underground exploration and development work is scheduled to begin by the fourth quarter.
Huevos Verdes represents one of four parallel gold-silver quartz vein targets that will be sampled, along with La Sorpresa, El Pluma West, and Huevos Verdes East. These targeted structural trends are defined either by geophysical anomalies and/or intermittently exposed vein, breccias, and vein float that hosts high-grade gold and silver. The total vein system has a potential strike length in excess of 20 km.
Recent work has focused on the Pluma South and Huevos Verdes trend, the Pluma West-Huevos Verdes East trend, the Saavedra West trend, and the La Sorpresa-West Portuguese trend.
Some of the highest-grade samples were collected at the Pluma South-Huevos Verdes trend, which is thought to represent the northwestern extension of the Huevos Verdes gold-silver vein. Results from a total of 92 surface chip samples ranged from nil to 81.7 grams gold per tonne, and nil to 933 grams silver per tonne. Twenty-five of these samples assayed at least 0.5 gram gold, and 10 returned assays greater than 50 grams silver. Among the high-grade sample results were: 6.1 grams gold and 815 grams silver; 2 grams gold and 240 grams silver; and 81.7 grams gold and 932.5 grams silver.
The Pluma South area of sampling encompasses the northern portion of the neighbouring vein system known as the Saavedra West trend. This vein strikes for about 10 km, and the southern portion hosts the Saavedra West indicated resource. It was pegged at 382,000 tonnes grading 0.4 gram gold and 225 grams silver. An additional 579,000 tonnes grading 1.4 grams gold and 259.7 grams silver are in the inferred category.
Vein outcrops
At the Pluma West-Huevos Verdes East trend, northeast of Huevos Verdes, crews sampled a quartz-vein structure that is 7 km long. Geophysical anomalies in basalt-covered areas indicate that the vein stockwork system at Pluma West connects with vein outcrops at Huevos Verdes East. Three-hundred samples from this area were assayed, and results ranged from nil to 40 grams gold. This included 40 gold assays that ranged from 1 to 40 grams gold per tonne. Silver values were generally low, ranging from nil to 154 grams per tonne. Moving 4 km to the south at the Huevos Verdes East zone, 32 chip samples yielded assays that ranged from nil to 1,079 grams silver per tonne.
The northernmost quartz vein trend on Minera Andes property has a 10-km strike length and outcrops through a series of windows in the thin basalt cover. These exposed areas have been dubbed La Sorpresa, Eastern Windows, Roadside and West Portuguese. At La Sorpresa, the quartz vein is exposed intermittently over half a kilometre. A total of 123 chip samples were taken from this area. Results ranged from nil to a high of 13.9 grams gold and 1,855 grams silver. Of these, a total of 12 samples assayed higher than 0.5 gram gold, and 3 samples returned high-grade gold and/or silver. These are as follows: 13.9 grams gold and 1,855 grams silver; 1.2 grams gold and 1,170 grams silver; and 1 gram gold and 759 grams silver.
Fieldwork will continue in an effort to expand the property’s potential. In addition, Minera Andes reports that 100 sq. km of ground have been acquired for the joint venture. This new ground hosts the Aguas Vivas target, a new mineralized area 10 km northwest of the El Pluma-Cerro Saavedra vein structures.
Hochschild stands to earn a 51% interest in the Huevos Verdes project under terms of a joint-venture agreement signed last year. Hochschild must spend US$3 million over three years and pay Minera Andes US$400,000 per year; it must also spend a minimum of US$100,000 on other targets in the land package.
The property is in Santa Cruz province.
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