Suche
 
Folgen Sie uns auf:

Chief Consolidated Mining Company Receives Update From Kennecott on Big Hill Drilling Program/addition of Second Drill Rig

10.04.2012  |  Marketwired

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/10/12 -- ANDOVER MINING CORP. (formerly "Andover Ventures Inc.") ("Andover" or the "Company") (TSX VENTURE: AOX)(OTCBB: AOVTF)(FRANKFURT: R2X) is pleased to announce that Chief Consolidated Mining Company ("Chief"), approximately 83.5% owned by Andover, has been informed that Kennecott Exploration Company, (Kennecott), has added a second drill rig in order to accelerate exploration activities conducted by Kennecott at the Big Hill Project, located on Chief's lands in the East Tintic Mining District, Utah.


TonaTec Exploration, LLC (TonaTec.com), located in West Mapleton, Utah, has been contracted by Kennecott to provide the second drill rig for drilling exploration on the second drill target. The rig is a CS 4002 and is currently on site and has commenced drilling. Kennecott has informed Chief that exploration drilling continues on the first exploratory drill target.


Under the terms of the Big Hill agreement, Kennecott may earn a 51% interest in the project by completing a Pre-feasibility Study or incurring $20,000,000 in expenditures, whichever occurs first, and an additional 4% interest by funding all project costs until delivery of a Feasibility Study accepted by Rio Tinto plc. Chief is carried on 45% interest until the completion of the Feasibility Study.


Since signing of the joint venture agreement with Chief on August 20, 2010, Kennecott has completed a systematic and multifaceted exploration program in the Tintic district, including ground based magnetotelluric and IP surveys, airborne magnetic surveys and an extensive mapping and sampling program. This work led to the delineation of several deep porphyry copper drill targets, two of which are currently being tested.


Further information on the project will be released as the data is received from Kennecott.


About Andover:


Andover Mining Corp. is a precious and base metal exploration and development company, headquartered in Vancouver, British Columbia, Canada. Andover's holdings are located in the polymetallic rich Ambler Mining District, located in Alaska, USA, and the historic East Tintic Mining District, Utah, USA.


For further information we invite you to visit us at www.andovermining.com.


ON BEHALF OF THE BOARD


Gordon Blankstein, CEO and Chairman


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Andover Mining Corp.

Richard Martens

Investor Relations

1-604-682-2168 or Int'l Toll Free: 1-800-266-4484

1-604-682-2169 (FAX)
rick@andovermining.com
www.andovermining.com


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Andover Mining Corp.
Bergbau
-
-
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"