Andover Ventures (CVE:AOX) announced Wednesday it intersected 6.6% copper equivalent at its Sun property in the Ambler Mining District in northwest Alaska.
The results are from the first two of the company's 76-hole 2011 drill campaign on the property, totaling approximately 49,000 feet. At the program's end, Andover will have drilled 27 holes, with the rest drilled by previous operators, including Anaconda, Noranda, Sunshine Mining Company, Cominco and Bear Creek Mining Company.
Assays from hole Sun11-24, which was drilled to a depth of 157.3 metres graded 1.6% copper, 3.49% lead, 10.25% zinc, 86.6 grams per tonne (g/t) silver and 0.24 g/t gold over 16.5 metres, including 4.23% copper, 0.7% lead, 2.94% zinc, 59.1 g/t silver and 0.347 g/t gold over 2.0 metres.
Other notable results from this hole include 1.1 metres grading 3.19% copper, 0.59% lead, 3.62% zinc, 122.0 g/t silver, and 0.51 g/t gold; and 1.71% copper, 3.39% lead, 10.55% zinc, 102.0 g/t silver and 0.501 g/t gold over 1.4 metres.
At these grades, and at today's metal prices, the copper equivalent of the 16.5 metre intercept in hole Sun11-24 is approximately 6.6%.
"Drill hole Sun11-24 was drilled into the heart of the Sun Deposit and filled an area of the deposit that had received almost no historical drilling," said Sun project General Manager, Bradley C. Peek.
"The results confirm the grade, thickness and continuity of the deposit through this important zone."
Results from hole Sun 11-23A, which was drilled to a depth of 316.4 metres, include 0.41% copper, 0.65% lead, 2.42% zinc, 33.6 g/t silver, and 0.56 g/t gold over one metre; and 0.43% copper, 0.59% lead, 2.37% zinc, 50.9 g/t silver, and 0.65 g/t gold over one metre.
Assays from this hole, which tested the northeast, down dip edge of the Sun deposit, also returned two metres grading 0.19% copper, 0.23% lead, 0.88% zinc, 12.5 g/t silver and 0.21 g/t gold.
The results of these holes indicate that the deposit's known strike length is over one kilometre and is open to the northeast and down dip, Andover said, adding that the adjacent Southwest Sun deposit has a strike length of over 0.5 kilometres and is also open down dip and to the southwest.
The precious and base metal exploration company also said samples from holes Sun11-28, which, like Sun11-23A and Sun11-24, is in the central portion of the deposit, and holes Sun11-25, Sun11-26, and Sun11-27 have been sent out for assays to further extend the known mineralization on the property.
Andover's stock on the TSX-Venture slipped 1.54% to trade at $0.64 per share as of 1:45 pm EDT.