Andresmin Gold Corp.
ANDRESMIN PROVIDES MORE DETAILS ON THE CLAVELLA 2 CLAIM BLOCK
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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For Immediate Release
ANDRESMIN PROVIDES MORE DETAILS ON THE CLAVELLA 2 CLAIM BLOCK
LIMA, PERU, November 15, 2004, – Andresmin Gold Corporation (“Andresmin” or
the “Company”) (NASD OTC-BB: “ADGD”; Wkn: A0DK4X Berlin) is pleased to
announce additional information on the recently acquired (Press Release
November 2, 2004) Clavella 2 property. The Clavella 2 claim block is a 232
hectare concession located at the north end of the 8,500 hectare Winicocha
Property, which completely surrounds the Cavella 2. The Clavella 2 claim
block was acquired from a private Peruvian mining prospector.
The Clavella 2 property was the site of previous exploration focused on gold
mineralization associated with large disseminated stockwork zones. Recent
work by the Company has returned 4 surface samples returning between 0.25% to
greater than 1.0% copper, with a further 10 samples returning 0.10% to 0.25%
copper, and associated anomalous molybdenum values in 4 samples ranging from
60 to 150 parts per million. In addition, sampling by the Company has
returned 6 samples ranging from 0.5 to 2.5 grams per ton gold over the
Clavella 2 property.
Recent geophysical surveys by the Company were completed over the southern
third of the Clavella 2 property, with several anomalies indicated. A large
strong magnitude, chargeability Induced Polarization (IP) anomaly is indicated
and is co-incident with the anomalous gold, copper and molybdenum values
indicated above. This anomaly (see attachment) is only partially defined, and
is open to the north.
The presence of these anomalous copper gold and molybdenum values coincident
with a strong IP anomaly is indicative of the large-tonnage porphyry deposits
typical in this mineral belt. A further work program consisting of additional
geophysics will be conducted, followed by diamond drilling in early 2005 to
test these results.
The Winicocha Copper Gold Molybdenum porphyry lies within a rich mineralized
belt in southern Peru. There are four significant porphyry deposits within 80
km of Winicocha representing over $26 billion worth of gross copper value;
they are: BHP Billiton’s Tintaya Mine with +200 million tonnes at +1.5%
Copper; BHP Billiton’s Antapaccay deposit with 420 million tonnes at 0.83%
Copper; X-Strata’s Las Bambas project which Centromin states has 40 million
tonnes with in excess of 2% Copper potential; and Southern Peru Copper
Corporation’s Las Chancas deposit with 200 million tonnes at 1% Copper, 0.07%
Molybdenum, and 0.12 grams per tonne Gold.
About Andresmin Gold Corporation
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 nine 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. Centromin
reports Winicocha hosts 1.4 million ounces of gold, thought to be a near
surface expression of a much larger underlying copper-gold porphyry deposit.
Recent sampling found a geochemical anomaly with grades ranging to 1.0% copper
and 5.0 grams per tonne gold, and coincident geophysics has outlined three
large anomalies. Exploration is ongoing on all projects. Andresmin trades
under the symbol ADGD on the NASDAQ over-the-counter bulletin board.
For further information please contact:
Resourcex Group:
Toll (888) 689-1620
investor@andresmin.com
http://www.andresmin.com
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 1995 AND INVOLVE RISKS AND
UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.
end of message, (c)DGAP 16.11.2004
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WKN: ; ISIN: XF000DGAP009; Index:
Listed: Nasdaq OTC
161111 Nov 04
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