| | Published : September 28th, 2009 | Commences Phase 1 Drilling Program at the Rio Seco Project, Peru |
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AndeanGold Commences Phase 1 Drilling Program
at the Rio Seco Project, Peru
Vancouver, B.C. - September
28, 2009 - AndeanGold Ltd. ("the Company" or "AndeanGold")
(TSX Venture Exchange: AAU) is pleased to report that A.K. Drilling
International S.A. has mobilized the drill rig and commenced the Phase 1
drilling program (the "Program") at the Company's Rio Seco
Project in Peru. The Program will entail 1,400 metres of reverse circulation
drilling and include eleven (11) angled holes from seven (7) drill
stations. The holes will range from 100 m to 152 m in inclined length and
from 82 m to 138 m vertically from surface. The Program has been designed
to test the depth, strike extent and grade of the 600x100m Stockwork
Target to an average depth of 100m, as a follow up to the encouraging
assay results from the 2008 and 2009 trenching programs. (See news
releases of April 20, 2009 and May 12, 2009). Barring any unforeseen
delays, the Program should be completed in approximately two (2) weeks,
with final assay results available approximately three (3) weeks after
the final samples have been submitted to the independent assay laboratory
in Lima, Peru.
The Rio Seco Project is a gold property
(approximately 3,325 hectares) with associated silver and copper, located
in the Department of Libertad, Peru. To date, four mineralized zones and
ten main vein systems have been identified. The West Zone has been identified
as the principal mineralized trend. It lies within a shear system created
by two major N-S faults and exhibits both potential open pit stockwork
targets and potential underground multiple vein targets. While there are
several exploration targets of interest on the Rio Seco Project, the
Company's principal interest is the timely testing and advancement of the
open pit potential of the Stockwork Target area, with the objective of
establishing a bulk mineable, heap leach mineral resource, if economic grades
are present.
About
AndeanGold Ltd:
AndeanGold Ltd. is engaged in the acquisition,
exploration and potential development of primarily precious metals
properties, principally in Peru and Ecuador. The focus of the Company's
exploration activities is presently in advancing its Rio Seco Project, as
well as pursuing mineral property acquisitions, in Peru. In Ecuador, the
Company's activities have been limited to administrative and legal
matters due to the Mining Mandate issued by the Ecuador Constituent
Assembly on April 18, 2008. Ecuador recently passed a new Mines Law,
which replaces the Mining Mandate, and is working on developing
regulations and finalizing terms and conditions of future mining
operations. The Company looks forward to working with government
officials to this end, and is actively pursuing authorization to
reinitiate work programs on its key Ecuadorian projects.
Please refer to AndeanGold's website at www.andeangoldltd.com for further
information on the Company's projects and activities.
On Behalf of the Board of Directors of
ANDEANGOLD LTD.
Anthony F. Ciali
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office:
Tony Ciali, AndeanGold Ltd.
Phone: 609.844.7746
Email: tciali@andeangoldltd.com
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Investor
Relations:
Jim Glass, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 225
Toll free: 1.866.684.4743
Email: jim@ascentacapital.com
|
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Ascenta
Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver �
BC V6E 3X1 � Canada
|
AndeanGold Commences Phase 1 Drilling Program
at the Rio Seco Project, Peru
Vancouver,
B.C. - September 28, 2009 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture
Exchange: AAU) is pleased to report that A.K. Drilling International
S.A. has mobilized the drill rig and commenced the Phase 1 drilling program
(the "Program") at the Company's Rio Seco Project in Peru. The
Program will entail 1,400 metres of reverse circulation drilling and
include eleven (11) angled holes from seven (7) drill stations. The holes
will range from 100 m to 152 m in inclined length and from 82 m to 138 m
vertically from surface. The Program has been designed to test the depth,
strike extent and grade of the 600x100m Stockwork Target to an average
depth of 100m, as a follow up to the encouraging assay results from the
2008 and 2009 trenching programs. (See news releases of April 20, 2009 and
May 12, 2009). Barring any unforeseen delays, the Program should be
completed in approximately two (2) weeks, with final assay results
available approximately three (3) weeks after the final samples have been
submitted to the independent assay laboratory in Lima, Peru.
The Rio
Seco Project is a gold property (approximately 3,325 hectares) with
associated silver and copper, located in the Department of Libertad, Peru. To
date, four mineralized zones and ten main vein systems have been
identified. The West Zone has been identified as the principal mineralized
trend. It lies within a shear system created by two major N-S faults and
exhibits both potential open pit stockwork targets and potential
underground multiple vein targets. While there are several exploration
targets of interest on the Rio Seco Project, the Company's principal
interest is the timely testing and advancement of the open pit potential of
the Stockwork Target area, with the objective of establishing a bulk
mineable, heap leach mineral resource, if economic grades are
present.
About AndeanGold Ltd:
AndeanGold
Ltd. is engaged in the acquisition, exploration and potential development
of primarily precious metals properties, principally in Peru and Ecuador. The
focus of the Company's exploration activities is presently in advancing its
Rio Seco Project, as well as pursuing mineral property acquisitions, in
Peru. In Ecuador, the Company's activities have been limited to
administrative and legal matters due to the Mining Mandate issued by the
Ecuador Constituent Assembly on April 18, 2008. Ecuador recently passed a
new Mines Law, which replaces the Mining Mandate, and is working on
developing regulations and finalizing terms and conditions of future mining
operations. The Company looks forward to working with government officials
to this end, and is actively pursuing authorization to reinitiate work
programs on its key Ecuadorian projects.
Please refer to AndeanGold's website at www.andeangoldltd.com for further information on the Company's projects and activities.
On Behalf of the Board of Directors of
ANDEANGOLD LTD.
Anthony F. Ciali
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office:
Tony Ciali, AndeanGold Ltd.
Phone: 609.844.7746
Email: tciali@andeangoldltd.com
|
Investor Relations:
Jim Glass, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 225
Toll free: 1.866.684.4743
Email: jim@ascentacapital.com
|
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
|
|
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AndeanGold
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EXPLORATION STAGE |
CODE : AAU.V |
ISIN : CA03349A2002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
AndeanGold is a gold exploration company based in Canada. AndeanGold holds various exploration projects in Peru. Its main exploration properties are MOLLETURO, SAN BARTOLOMÉ and CURIPLAYA in Ecuador and RIO SECO and URULMAQUI in Peru. AndeanGold is listed in Canada. Its market capitalisation is CA$ 4.2 millions as of today (US$ 3.3 millions, € 3.2 millions). Its stock quote reached its highest recent level on January 12, 2007 at CA$ 0.58, and its lowest recent point on June 09, 2023 at CA$ 0.01. AndeanGold has 103 930 000 shares outstanding. |
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