 | | | Published : October 07th, 2009 | Completes Phase 1 Drill Program on Rio Seco Project, Peru |
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AndeanGold Completes Phase 1 Drill Program on Rio Seco Project, Peru
Vancouver, B.C. - October 7, 2009 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU) is pleased to report that the contract driller, A.K. Drilling International S.A., has completed the Phase 1 drill program (the "Program") at the Company's Rio Seco Project in Peru. The Program entailed the drilling of eleven (11) reverse circulation holes, for a total of 1,400 metres. All holes were successfully drilled as planned. The holes ranged from 100 m to 158 m in inclined length and from 84 m to 143 m vertically from surface. All samples from the Program have been shipped to the independent Inspectorate Assay Laboratory in Lima, Peru. Assay results should be available in approximately three (3) weeks. The Program was designed to test the depth, strike extent and grade of the 600x100 m 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).
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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Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada
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AndeanGold Completes Phase 1 Drill Program on Rio Seco Project, Peru
Vancouver, B.C. - October 7, 2009 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU) is pleased to report that the contract driller, A.K. Drilling International S.A., has completed the Phase 1 drill program (the "Program") at the Company's Rio Seco Project in Peru. The Program entailed the drilling of eleven (11) reverse circulation holes, for a total of 1,400 metres. All holes were successfully drilled as planned. The holes ranged from 100 m to 158 m in inclined length and from 84 m to 143 m vertically from surface. All samples from the Program have been shipped to the independent Inspectorate Assay Laboratory in Lima, Peru. Assay results should be available in approximately three (3) weeks. The Program was designed to test the depth, strike extent and grade of the 600x100 m 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).
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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Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada
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AndeanGold
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EXPLORATION STAGE |
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CODE : AAU.V |
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ISIN : CA03349A2002 |
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ProfileMarket
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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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