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Andover Ventures says drilling results indicate new zone at Burgin silver-lead-zinc-gold property in

Andover Ventures (TSX-V: AOX, FRANKFURT: R2X) announced a new set of drilling results from its Burgin mine property in Utah, reporting grades of up to 365 g/t (grammes per tonne) silver, 7.43% lead, 2.39% zinc and 2.55 g/t gold from hole C0902 and 295 g/t silver, 12.18% lead, 4% zinc and 1.481 g/t gold from hole C0904.

The results from hole C0902 included intervals of 3.05 metres grading 365 g/t silver and 0.83% lead, 1.5 metres at 149 g/t silver and 1.5% lead, 4.6 metres grading 237 g/t silver and 7.43% lead, 12.8 metres grading 312 g/t silver and 8.9 metres at 2.39% zinc and 2.55 g/t gold. Hole C0904 returned intersections of 4.6 metres grading 117 g/t silver and12.18% lead, 4.6 metres grading 295 g/t silver, 3.05 metres grading 219 g/t silver and 6.4 metres grading 1.49%lead, 4% zinc and 1.481 g/t gold.

In addition to these results, holes C0902 and C0904 encountered gold mineralization in dolomitic breccias and gouge in the footwall of the East Tintic fault zone.

Andover said that the returned analyses were similar to those reported for hole C0903, which encountered intersections of 3.35 metres at 167 g/t silver and 7.6% lead, 1.7 metres at 115 g/t silver and 4.6% lead, 17.2 metres at 171 g/t silver and 2.17% lead, 8 metres at 130 g/t silver and 10.2% lead, 10.3 metres at 452 g/t silver, 9.2% lead and 4.8% zinc and 14.3 metres at 339 g/t silver, 7% lead and 6.3% zinc.

Andover stated that the anomalous gold is associated in all three holes with the base of the previously recognized, zinc-rich zone which correlates with the lowest zone of the Burgin Extension deposit in DDH C0903 and quite probably also in C0902 and C0904.

“Our current interpretation suggests that the gold-rich horizon may be a consistent and economically significant, but previously unrecognized, zone within the deposit,” the company said in the statement.

Andover also announced a private placement of 1.2 million units with each consisting of a common share in the capital of the company at C$0.25 and one common share purchase warrant, entitling the owner to buy one additional share at C$0.35, exercisable over 24 months.

Disclosure: The author holds no positions in the company