Copy of Andean eNewsletter below for those interested:-
Sydney, 17 April 2008
ANDEAN REPORTS 119% INCREASE IN EUREKA WEST GOLD RESOURCE. INCREASES TOTAL CERRO NEGRO RESOURCES TO 2.7 MILLION OUNCES AuEq Andean Resources Ltd. ( ASX/TSX:AND ) today reported a significant increase in its independent mineral resource estimate for the company's 100 percent owned Cerro Negro gold project in southern Argentina, speeding Andean's transition towards producer status.
Today's upgrade, covering only the Eureka West veins, saw gold resouces grow 119% to a total of 1.36 million ounces Au with silver resources also posting a 190% increase to 23.7 million ounces Ag for a combined gold equivalent resource of 1.8 million ounces at an impressive 15.8 g/t AuEq.
This brings the total resource inventory for Cerro Negro (which includes the Vein Zone deposit of ~ 900,000 ounces Au) to approximately 2.3 million ounces of gold and 23.7 million ounces of silver (or 2.7 million ounces of Gold Equivalent).
Also of note is the significant improvement in the estimated grades reported at Eureka West, which have increased from 6.4 g/t Au previously to today's estimated 12.3 g/t Au ( or 15.8 g/t Au Eq) making Eureka West one of the highest grade gold projects discovered by an Australian gold explorer in recent years.
Today's resource estimate is compliant with NI 43-101 and JORC, and was carried out by independent mining consultants Micon International Ltd.
cheers
AND Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
