Message #3 From:
NewsBot Date: August 19, 2005 02:00:00 AM
ADGD News Andresmin Completes First Phase Winicocha Drilling Program
LIMA, Peru--(BUSINESS WIRE)--Aug. 19, 2005--Andresmin Gold Corporation ("Andresmin" or the "Company") (OTCBB:ADGD) is pleased to announce it has completed its drilling campaign on the Winicocha Project in Peru. The drilling program was extended from a planned 3,000 metres to 3,640 metres completed over 11 drillholes. The extension of the drilling program, in terms of drilling depth and number of drillholes, was based on favorable porphyry and skarn-style geology being encountered in all drillholes. The drilling program tested a strike length of 2.5 km on the eastern side of the project area. Drillhole depths ranged from 207 metres to 435 metres.
Drillcore recovery was excellent and a credit to the quality control procedures executed by both the on-site geologists and the drilling contractor, Bradley-MDH. Drillcore has been cut by diamond saw, sampled on-site, and sent to ALS-Chemex for analysis. The analysis of sample results and geological compilation of the drilling program is expected to be complete in approximately five weeks.
Geological logging indicates that copper mineralization is present in the form of finely disseminated chalcopyrite associated with a large altered diorite intrusive stock with quartz monzonite to monzodiorite dykes. There are multiple sills of porphyritic diorite intruding limestone skarn, forming enriched alteration zones at depth.
The Winicocha drilling program was designed to test the authenticity of geophysical anomalies defined during the 2004 and 2005 geophysics programs and test the extension of surface geochemical anomalies.
Andresmin is committed to building shareholder value through the acquisition, exploration, and development of high-quality mineral projects in the prime Central Andes region of South America, which annually produces 42% of the world's copper (over $18 billion each year). The Company has an impressive property portfolio with ten projects of merit encompassing 16,400 hectares of strategically located and highly prospective ground. The Winicocha copper-gold project in southern Peru is Andresmin's flagship project. Exploration is ongoing on all projects. Andresmin trades under the symbol ADGD on the NASDAQ over-the-counter bulletin board.
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933 as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, Andresmin's analysis of opportunities in the acquisition and development of various project interests, and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1955 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
