About Andina
The primary focus of Andina Minerals Inc. (“Andina”) is mining exploration and development in Chile.
The Company’s flagship development project is the 100%-owned Volcan Gold Project, located 170 kilometres east of Copiapo, Region III, Chile. Andina has completed over 100,000 metres of drilling at Volcan and discovered three gold deposits in the Dorado area: the Dorado East, Central and West and two gold zones in the Ojo de Agua area: Andrea and Florencia. As of September 10, 2009, the updated resource for the Dorado deposits estimated measured and indicated mineral resources of 492.5 million tonnes at an average grade of 0.62 g/t Au for 9.8 million ounces of contained gold and inferred resources of 36.8 million tonnes at an average grade of 0.65 g/t Au for 768,000 ounces of contained gold. Both estimates are at a cut-off grade of approximately 0.3 g/t Au. In addition, the Ojo de Agua area hosts an inferred resource of 18.6 million tonnes grading 0.85 g/t Au for total contained gold content of 510,000 ounces at a cut-off grade of 0.5 g/t (October 2008).”
Andina has accelerated the development process for the Volcan deposit and is progressing with a Conceptual Development Study and a Preliminary Economic Assessment, targeted for completion in early 2010. Volcan development is expected to be simple, with a relatively low initial capital cost for a deposit of this scale, based on initial metallurgical testing and similar deposits currently being mined.
In addition to Volcan, Andina has two exploration projects, the Encrucijada gold/silver property, a joint venture with Hochschild and the Pampa Buenos Aires gold/silver project, a joint venture with Iron Creek.