-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GEC3zvfzucM1OmWmvaXd2PdXOWi0qzEGd8uSY5ITywWsouQ3u2KmCVsEZ1fidLSR gxYJXWS0Ue5Ie8OmD7QAsA== 0001199073-10-001078.txt : 20101129 0001199073-10-001078.hdr.sgml : 20101129 20101129171726 ACCESSION NUMBER: 0001199073-10-001078 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20101129 FILED AS OF DATE: 20101129 DATE AS OF CHANGE: 20101129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MINERA ANDES INC /WA CENTRAL INDEX KEY: 0001030219 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS METAL ORES [1090] IRS NUMBER: 000000000 STATE OF INCORPORATION: A0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22731 FILM NUMBER: 101219675 BUSINESS ADDRESS: STREET 1: 99 GEORGE STREET, 3RD FLOOR CITY: TORONTO STATE: A6 ZIP: M5A 2N4 BUSINESS PHONE: (647) 258-0395 MAIL ADDRESS: STREET 1: 99 GEORGE STREET, 3RD FLOOR CITY: TORONTO STATE: A6 ZIP: M5A 2N4 6-K 1 d6k.htm MINERA ANDES INC. FORM 6-K d6k.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of
November 2010
Commission File Number 000-22731
 
Minera Andes Inc.
(Translation of registrant's name into English)
 
99 George St., 3rd floor
Toronto, ON
M5A 2N4
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
 Form 20-F   o  Form 40-F   x
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
 
 
Note:Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
 
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
 Yes   o
 No   x
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
 
Description of Exhibit
 
Exhibit
   Description of Exhibit 
     
99.1
  
MATERIAL CHANGE REPORT
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
     
 
MINERA ANDES INC.
 
 		  
 		  
Date: November 29, 2010 By:   /s/ Perry Ing
 
Perry Ing
Chief Financial Officer
   
EX-99.1 2 ex99_1.htm MATERIAL CHANGE REPORT ex99_1.htm  
Exhibit 99.1
 
 
FORM 51-102F3
MATERIAL CHANGE REPORT
 

 
Item 1:                      Name and Address of Company
 
Minera Andes Inc.
99 George Street, 3rd Floor
Toronto, Ontario
M5A 2N4   Canada
 
Item 2:                      Date of Material Change
 
The material change occurred on November 22, 2010.
 
Item 3:                      News Release
 
A news release relating to the subject matter herein was disseminated by Marketwire, Toronto, Ontario, on November 22, 2010.
 
Item 4:                      Summary of Material Change
 
On November 22, 2010, Minera Andes Inc. (“Minera Andes” or the “Corporation”) announcedthat the inferred resources more than doubled at the San José Mine in Argentina.  The contained silver in the inferred mineral resources increased by 133% and the contained gold increased by 122% compared to the December 31, 2009 estimate as reported by the Corporation.   The increase is primarily due to the discovery of nine new veins as well as important extensions of previously known veins.
 
Item 5:                      Full Description of Material Change
 
On November 22, 2010, Minera Andes announced that the inferred resources more than doubled at the San José Mine in Argentina.  The contained silver in the inferred mineral resources increased by 133% and the contained gold increased by 122% compared to the December 31, 2009 estimate as reported by the Corporation.  The increase is primarily due to the discovery of nine new veins as well as important extensions of previously known veins.
 
The San José Mine is operated by Minera Santa Cruz SA, the company established under the terms of an option and joint venture agreement between Minera Andes (owing 49%) and Hochschild Mining plc (owning 51%).
 
 
 
 
 
 
At September 30, 2010, total Measured and Indicated Mineral Resources at the San José Mine were 651,000 ounces of gold and 44.2 million ounces of silver, contained in 3.0 million tonnes grading 6.81 grams/tonne gold and 462 grams/tonne of silver, or 83.3 million ounces of silver equivalent. An additional 712,000 ounces of gold and 46.4 million ounces of silver, contained in 4.6 million tonnes, grading 4.87 g/t gold and 317 g/t silver, or 89.2 million ounces of silver equivalent, are classified as Inferred Resources. The mineral resources remain open along strike and at depth in some areas.
 
The September 30, 2010 resource estimate is net of 2010 mine production through September 2010, which was 323,398 tonnes at 6.68 g/t gold and 416 g/t silver. The new resources are a direct result of an increased emphasis on exploration at San José. Through the end of the third quarter of 2010, $5 million had been spent on exploration, and exploration for the fourth quarter is expected to be approximately $1.5 million.
 
The contents of the news release disseminated on November 22, 2010 and pertaining to this report were reviewed and approved by Eugene Puritch, P.Eng., President of P&E Mining Consultants Inc. ("P&E"), a Qualified Person under NI 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101"). P&E are independent consultants to the Corporation.
 
The December 31, 2009 resource estimates were audited by P&E to confirm compliance with NI 43-101 and Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005. ("CIM"), and, that the employed methodologies have generated reliable estimates of tonnage and grade for the mineral assets stated in the Corporation's AIF dated March 30, 2010. The audit was completed by James L. Pearson P.Eng., Alfred Hayden P.Eng. and Fred H. Brown CPG under the direction of P&E's President Eugene Puritch, P.Eng, each of whom are considered to be independent Qualified Persons under the NI 43-101.
 
The September 30, 2010 resource models were developed using industry-accepted methods by P&E. The resource estimate is based on drill hole data provided by our joint venture partner Hochschild Mining Plc and by MSC, the joint venture operating company as reported by the Corporation on October 7, 2010. All samples were collected in accordance with industry standards. All drill core samples were submitted to Alex Stewart Argentina S.A laboratory in Mendoza, Argentina for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays.  P&E constructed a wire frame block model to estimate the resource. P&E estimated 'existing' vein resources as of September 30, 2010 based on December 31, 2009 resources, depleted by January 1st to September 30th, 2010 m ine production. 'New' Inferred Resources, (added during the period December 31, 2009 to September 30, 2010), were estimated by P&E using a gold price of US$925 per ounce (oz) and silver price of US$15 per oz for all mineral resources. P&E validated the model estimates and found them to reasonably estimate grade and tonnage. The mineral resource estimates are compliant with CIM Definition Standards for Mineral Resources and Mineral Reserves as incorporated by reference in NI 43-101. The independent Qualified Persons as defined by NI 43-101 for the purposes of the September 30, 2010 resource estimate disclosure are James L. Pearson, P.Eng., Eugene Puritch, P.Eng., David Burga, P.Geo and Fred H. Brown, CPG all of P&E and each a Qualified Person under NI 43-101.
 
The following summarizes the key assumptions, parameters and methods used in the mineral resource estimate:
 
 
·  
A marginal cutoff grade of 148 g/t of silver equivalent, representing the variable operating cost of $53.87/t was used to estimate the mineral resources.
·  
Drill hole assay values and channel samples were combined for mineral resource estimation.
·  
Bulk density value used for the resource estimate was 2.60 tonnes per cubic meter (t/m3) for all veins.
·  
Assays values manually identified as potentially economic were composited to length-weighted values.
·  
Prior to block estimation, gold composite samples were cut to 150 g/t at Huevos Verdes Sur,70 g/t at Frea and 40 g/t at Kospi. Silver assays were cut to 10,000 g/t at Huevos Verdes Sur, 4,200 g/t at Frea, and 4,400 g/t at Kospi. The capping values of the 'New' veins are summarized in the table below.
 
Vein
  
Ag
    
Au
  
Antonella
     520       30  
Dos Lauras
     1000       5  
Extension Ayelén
     600       5  
Hera
     500       6  
Mara
     400       4  
 
 
 
 
 
 
 
                 
Marta
     800       8  
Micaela
     1400       30  
Pacha
     400       6  
Shala
     400       4  
Sofia
     1500       10  
 
 
·  
Grade estimation was undertaken with oriented search ellipsoids and Ordinary Kriging where sufficient resolution was available for variography, or by Inverse Distance Cubed (1/d3) weighting of composite values in areas of lower resolution.
·  
The San José mineral 'existing' vein and 'new' vein resource estimates are based on 754 and 77 drill holes, respectively, and 10,744 channel samples. Channel samples were taken from drift backs in the Huevos Verdes Sur, Huevos Verdes Norte, Odin, Frea, and Kospi vein systems.
·  
Mineral resource estimation was confined to areas considered to have a reasonable degree of geological confidence.
 
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. The mineral resources in the November 22, 2010 press release were estimated using CIM Standards.
 
Item 5.2:                      Disclosure for Restructuring Transactions
 
Not applicable.
 
Item 6:                      Reliance on subsection 7.1(2) of National Instrument 51-102
 
Not applicable.
 
Item 7:                      Omitted Information
 
 
 
 
 
 
Not applicable.
 
Item 8:                      Executive Officer
 
The name of the executive officer of the Corporation who is knowledgeable about the material change and this report, and who can be contacted is James K. Duff, Chief Operating Officer of the Corporation.  He can be reached at509-921-7322.
 
Item 9:                      Date of Report
 
November 29, 2010
 
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