Fundamental Research Corp. has provided an updated research report on Andover Ventures (OTC Other: AOVTF; TSX-V: AOX) with a fair value share price of $1.09, a 51% premium over the Company’s current share price. A copy of the report can be viewed by clicking below.
Below is an article from NORTH OF 60 MINING NEWS that was published the week of January 23rd, 2011. The article was brought to our attention yesterday from a fellow shareholder which contains excellent information about the Ambler Mining District, where Andover Venture’s (OTC Other: ADEXF; TSX-V: AOX) “SUN” Deposit is located, and additionally provides information regarding the road initiative that is now underway in Alaska. As I’m sure you all can imagine, there’s been a lot of momentum on the road initiative since January.
Mining News: Renewed focus on mineral-rich Ambler
While juniors explore the rich VMS deposits in the district, Alaska engineers study road access to remote northwest region
The Ambler Mining District, a mineral-rich region of Northwest Alaska, is getting renewed attention in 2011. While two exploration companies expand their copper-rich volcanogenic massive sulfide projects during the upcoming season, State of Alaska engineers will work on penciling in a potential road to the area.
NovaGold Resources Inc. is creating a new company to explore its 36,670-hectare, or 90,614-acre Ambler property and Andover Ventures Inc. plans to return to its Sun property with a drill program in 2011.
“Like many Alaska projects, one of the key development issues at Ambler is infrastructure. Alaska is large and remote, and there is not a lot of established infrastructure, and big projects require road access and power,” NovaGold explains on its website.
Andover Partner Kennecott Exploration/Rio Tinto Receives Budget Approval for 2011 Big Hill Exploration Work ProgramApril 7, 2011
Andover Ventures (TSX-V: AOX and OTC: AOVTF) announced today that their joint venture partner at the Big Hill prospect (Utah), Kennecott Exploration Company (a division of Rio Tinto) has received budget approval for its 2011 work program.
Kennecott also presented to Chief (78.5% controlled by Andover) a report titled, “Summary of Exploration Activities, Big Hill Property, East Tintic Mining District, Utah”. This report outlines Kennecott’s 2010 exploration activities which included geophysical surveys, surface sampling, mapping and historic data compilation. During Q4 of 2010 Kennecott Exploration (KEX) spent a total of $600,258.00 in exploration activities over the Big Hill project area.
Andover Ventures (OTC Other: AOVTF; TSX-V: AOX) will focus its 2011 work program at the SUN project, the Company’s 100% owned silver-copper-lead-zinc-gold VMS deposit, on an estimated 2,000 meter drill program. The purpose of the drill program will be to extend the Main SUN deposit to the northeast towards Picnic Creek and also to the southwest. Success in these areas could add substantial resources to the property’s resource base.
Andover Ventures (OTC Other: AOVTF; TSX-V: AOX) has hired Bradley C. Peek, B.Sc., Geology, M.Sc., Geology as General Manager for the SUN project in Alaska. Mr. Peek has extensive industry experience with multiple mining companies since his graduation with a B.Sc., Geology from the University of Nebraska followed by his M.Sc., Geology from the University of Alaska. Mr. Peek has also completed a Hazardous Waste Management program at Colorado School of Mines.
Andover Ventures (OTC Other: AOVTF; TSX-V: AOX), through its 78.53% ownership in Chief Consolidated, has hired Michael Carter as General Manager for Chief’s East Tintic District mining properties in Utah. Mr. Carter will hire and manage all staff required to put the Trixie Gold/Silver Mine into production and to develop the district’s other assets, including the Burgin Extension Deposit.
Mr. Carter has extensive industry experience with many mining companies since his graduation, with a B.S.Geology from the University of Idaho. He is a past Director of the Nevada Mining Association and the South Dakota Mining Association. During the last 40 years his management positions have included the following;
- Capital Gold Inc. – Contract Consultant (Gold – Open Pit 7500 tpd)
- Alamos Gold Inc. – General Manager/ Project Manager Malatos (Gold – Open Pit 10,000 tpd)
- Geomaque Exploration Ltd. – Vice President Operations (Gold – Open Pit)
- Coeur d’Alene Mines – Mine Manager (Gold/ Silver – Open Pit)
- Occidental Minerals Corporation – Project Manager (Gold/ Silver – Open Pit)
Andover Ventures (OTC Other: AOVTF; TSX-V: AOX) was recently featured by Caesars Report, an independent research company specializing in junior mining companies. The report provides an in depth analysis of Andover and its opportunities, including the Company’s plan to (i) upgrade historic resources at the Burgin Mine to be 43-101 compliant; (ii) restart production of the high-grade Trixie Gold Mine; and (iii) advance infrastructure logistics for its SUN deposit in Alaska.