Minera Andes (TSX: MAI and US OTC: MNEAF) is a successful mining exploration company transitioning into the ranks of mid-tier gold and silver production. It co-owns an operating, relatively high-grade silver-gold mine in Argentina. Production from the San Jose mine for 2008 is expected to be about 60,000 ounces of gold and 3 million ounces of silver, of which the value of 49 percent accrues to Minera Andes. This production is projected to increase in 2009 to 100,000 ounces of gold and 8 million ounces of silver, again with 49 percent accruing to Minera Andes account.
Since 2002, proven and probable silver-equivalent ore reserves at San Jose have steadily risen from 17.4 million ounces to 64 million ounces in 2007. Further growth in gold and silver is possible because current reserves are based on only about three kilometers out of 40 kilometers of vein strike length currently known to exist in the 99,000-acre project area.
Even as it benefits from gold and silver mining income, Minera Andes continues as a successful exploration company. Its Los Azules copper discovery in San Juan province, where drilling and exploration continue, contains an inferred mineral resource of 11.2 billion pounds of copper at a grade of 0.55 percent copper at a total 0.35 percent cutoff. Additional silver/gold prospects, some of which are being drill-tested, are located in Santa Cruz province.
Minera Andes announced the San José mine production results for year end 2009 and fourth quarter 2009. Total production at the San José mine increased to 4,998,000 ounces of silver and 77,070 ounces of gold, of which 49% is attributable to Minera Andes. Compared to 2008, the 2009 year end silver and gold production was 14% and 42% higher, respectively. During the fourth quarter,
the San José mine produced 1,032,000 ounces of silver and 19,960 ounces of gold.
Minera Andes (TSX: MAI and US OTC: MNEAF) is a successful mining exploration company transitioning into the ranks of mid-tier gold and silver production. It co-owns an operating, relatively high-grade silver-gold mine in Argentina. Production from the San Jose mine for 2008 is expected to be about 60,000 ounces of gold and 3 million ounces of silver, of which the value of 49 percent accrues to Minera Andes. This production is projected to increase in 2009 to 100,000 ounces of gold and 8 million ounces of silver, again with 49 percent accruing to Minera Andes account.
Past Producer
Development
Exploration