MIAMI, Feb. 15, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Andresmin Gold Corporation (OTCBB:ADGD), Sprint Corporation (NYSE:FON), Yahoo! Inc. (Nasdaq:YHOO) and American International Group, Inc. (NYSE:AIG).
Andresmin Gold Corporation (OTCBB:ADGD) issued a press release late yesterday afternoon that may excite investors. The company announced that recent work on the Maikol Project, located 50 km north of Lima, Peru, has identified an altered and mineralized shear structure within a shear zone, hosted by volcano-sedimentary rocks adjacent to granodiorite intrusives. The company's stock closed at sixty-one cents a share.
The press release stated that recent results returned up to 9 grams per tonne (g/t) gold, 9.2 g/t silver, and 1,430 parts per million (ppm) copper. The shear structure contains anomalous levels of lead and zinc, and represents an exciting polymetallic prospect for gold, silver, copper lead and zinc.
A geochemical anomaly in rock channel samples has been discovered over a width of 45 metres and a strike length of 200 metres and remains open in all directions. The anomaly has been defined by silver grades ranging from 2.7 to 9.2 ppm, copper grades from 200 ppm to 1,430 ppm, and gold grades from 1g/t to 9g/t.
The structure containing the mineralization continues to the north and south of the area presently being sampled. Further sampling on this exciting project is expected to commence in the next week.
Andresmin is committed to building shareholder value through the acquisition, exploration and development of high quality mineral projects in the prime Central Andes region of South America, which annually produces 42% of the world's copper (over $18 billion each year). The Company has an impressive property portfolio with ten projects of merit encompassing 16,400 hectares of strategically located and highly prospective ground. The Winicocha copper-gold project in southern Peru is Andresmin's flagship project. Centromin reports Winicocha hosts an inferred reserve of 1.4 million ounces of gold, thought to be near surface expression of a much larger underlying copper-gold porphyry deposit. Recent sampling found a geochemical anomaly with grades ranging to 1.0% copper and 5.0 grams per tonne gold, and coincident geophysics has outlined three large anomalies. Exploration is ongoing on all projects.
Other stocks of interest yesterday: Sprint Corporation (NYSE:FON) down 0.8% on 27.3 million shares traded, Yahoo! Inc. (Nasdaq:YHOO) up 0.5% on 20 million shares traded and American International Group, Inc. (NYSE:AIG) down 2.2% on 14.3 million shares traded.
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