OroAndes Resource Corp.: Check Assays Confirm High Gold and Silver Values at Alto El Toro
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 14, 2008) – OroAndes Resource Corp. (“OroAndes” or the “Company”) (TSX VENTURE:OAR), is pleased to report that the 137 checked results of panel and channel samples have confirmed high gold and silver concentrations from multiple locations within a mineralized oreshoot presently being mined at the Alto El Toro Gold Project in the Department of Tolima, Colombia.
The samples were collected at nominal 10-meter spacings along the underground workings that follow the veins and from within the stopes. The samples were initially assayed at the ALS Chemex laboratory in Lima, Peru. New pulps were then made from the rejects and sent for re-analysis at Acme Analytical Laboratories in Vancouver, B.C.
Complete results are provided and are also plotted in a figure available for viewing on the Company’s website, www.oroandes.com. Highlights include:
– 33.5 g/t gold and 57 g/t silver over 1.1m true thickness
– 61.6 g/t gold and 74 g/t silver over 2.2m true thickness
– 101.7 g/t gold and 110 g/t silver over 0.5m true thickness
– 44.4 g/t gold and 127 g/t silver over 1.0m true thickness
– 30.3 g/t gold and 74 g/t silver over 3.3m true thickness
– 49.3 g/t gold and 179 g/t silver over 1.0m true thickness
– 43.7 g/t gold and 60 g/t silver over 1.0m true thickness
– 215.6 g/t gold and 182 g/t silver over 1.0m true thickness
– 39.1 g/t gold and 56 g/t silver over 2.0m true thickness
There is a very high correlation between the panel and channel sample assay results from ALS and Acme, which indicates that the “nugget effect” is not an issue at the Alto El Toro Project and that the high assay results have been repeated in the check assaying program. Furthermore, management of OroAndes is pleased to note that the mineralization extends beyond the quartz veins into the adjacent country rock.
The panel and channel sampling program was directly supervised by Dr. Stew Fumerton, Vice-President of Exploration, to ensure that the samples were representative of the intervals. In some cases the underground workings are totally contained within the quartz veining, hence the total thickness of the veins could not be measured at every sample location. The quoted results represent only part of the vein system.
Additional geological work in the past month has shown that there are multiple, thick, mineralized shoots within the plane of the quartz veins at Alto El Toro. One shoot hosting the mineralization exploited by the existing Libano Mine measures 100 meters along strike, 300 meters down dip, and is open down-dip. Another shoot (dimensions unknown) lies outside the present Libano mining concession, but within the Alto El Toro Project. A third shoot with near-surface oxidized material was exploited during mining operations in the 1940s. Its dimensions are yet to be established. All three shoots are south of the El Toro Fault. Other small workings are located immediately north of the El Toro Fault, suggesting potential for additional shoots along strike of the known mining operations.
Positive results were also returned from additional panel and channel samples collected from the old underground workings at the Bersecia Mine and the new Serpe test adit, both situated several kilometers along strike of the active Libano Mine and within the Project area. Results from both occurrences are also listed in the table on the company’s website.
Crushed rock samples were also collected from mill feed and material drawn from the single active stope at the Libano Mine, which is being operated on a small scale by the property vendor. These results are also tabulated and grade better than 14 g/t gold with 76 g/t silver.
OroAndes is extremely encouraged by the results of the 137 panel and channel samples collected from the quartz veins and adjacent country rocks at Alto El Toro. The Company expects to release details of its proposed 2008 exploration and drilling program shortly.
The technical content of this news release has been prepared under the supervision of Dr. Fumerton, OroAndes Vice-President of Exploration, who is a Qualified Person under National Instrument 43- 101.
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although OroAndes believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of OroAndes’ management on the date the statements are made. OroAndes undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
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