AndeanGold

Published : August 10th, 2011

Reports Final Positive Assay Results, Urumalqui Au - Ag Project, Peru

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AndeanGold Reports Final Positive Assay Results, Urumalqui Au - Ag Project, Peru
9.8 oz/t AGE over 3.15 metres
15.4 oz/t AGE over 2.14 metres
10.8 oz/t AGE over 3.04 metres
10.8 oz/t AGE over 11.71 metres

Vancouver, B.C. - August 10, 2011 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU)   is pleased to announce that it has received the assay results for the final eleven drill holes from the Phase I infill drilling program (the "Program") on the Urumalqui Epithermal Vein (the "Vein") at its advanced-stage Au-Ag Urumalqui exploration project (the "Project") in Peru. The assay results are as follows:

DRILL
HOLE
DEPTH
BELOW
SURFACE
(metres)
FROM
(metres)
TO
(metres)
INTERVAL
(metres)
TRUE
WIDTH
(metres)
  AU
(g/t)
AG
(g/t)
AG EQUIVALENT
(g/t) (oz/t)
                     
PGUR #21 87.96  106.98 110.00 3.02 2.46   0.48 78.00 102.00 3.3
                     
PGUR #22  28.21 35.60 39.49 3.89 3.15   2.48 181.80 305.60 9.8
                     
PGUR #23  40.33 55.41 58.90 3.49 2.85   0.63 72.83 104.35 3.4
                     
PGUR #24  88.32 121.28 124.00 2.72 2.14   3.84 287.88 479.73 15.4
    INCLUDING                
    122.53 124.00 1.47 1.16   6.80 414.90 754.73 24.3
                     
PGUR #25  82.41 127.00 130.70 3.70 3.04   0.49 310.62 335.03 10.8
                     
PGUR #26  80.34 109.10 114.00 4.90 3.83   1.03 76.22 127.84 4.1
                     
PGUR #27  205.12 233.83 238.21 4.38 2.90   0.55 180.36 207.65 6.7
    INCLUDING                
    235.80 237.55 1.75 1.16   0.96 218.43 266.29 8.6
                     
PGUR #28  193.41 223.93 226.80 2.87 1.94   0.21 114.91 125.26 4.0
    INCLUDING                
    223.93 225.85 1.92 1.30   0.29 159.72 174.10 5.6
                     
PGUR #29  218.97 225.80 235.34 9.54 3.58   0.38 48.95 68.13 2.2
                     
PGUR #30  50.37 70.76 76.40 5.64 4.62   0.90 116.71 161.81 5.2
                     
PGUR #31  39.67 63.90 77.70 13.80 11.71   2.35 218.86 336.27 10.8
    INCLUDING                
    75.30 77.70 2.40 2.04   1.00 633.56 683.44 22.0
                     
                     
AG EQUIVALENT - Based on a silver to gold ratio of 50:1 and assuming 100% metallurgical recoveries.      
oz/t - Troy ounces per metric tonne.                
AG EQUIVALENT - Based on a silver to gold ratio of 50:1 and assuming 100% metallurgical recoveries.
oz/t - Troy ounces per metric tonne.

Mr. Anthony F. Ciali, President & CEO of AndeanGold states, "We are very pleased with the success of, and assays results from, the Company's recently completed Urumalqui infill drill program. The Company's overall assay results were in line with Gitennes' historical overall assay results from the Phase I target area. The following assay results from the final drill holes are noteworthy: <b>PGUR #24 - 2.14 metres true width at 3.84 g/t Au, 287.88 g/t Ag, 479.73 g/t AGE (15.4 oz/t)</b> and <b>PGUR #31 - 11.71 metres true width at 2.35 g/t Au, 218.86 g/t Ag, 336.27 g/t AGE (10.8 oz/t)</b>. PGUR #24 included a 0.89 metre drill interval running 7.12 g/t Au and 346.0 g/t Ag. The 7.12 g/t Au assay is the highest drill hole gold assay result reported at the Urumalqui Project. Also, the <b>11.71 metres</b> true width in PGUR #31 is the thickest mineralized interval drilled at the Urumalqui Project."

The latest holes were drilled principally along strike over an approximate 200 metre interval, covering the western portion of the Urumalqui Vein. In addition, three holes were drilled to a vertical depth of approximately 200 metres below surface, and four shallow holes were drilled in the eastern portion of the target area to infill an area near the historical underground exploration workings. (See updated Urumalqui Vein Longitudinal Section on the company website at www.andeangoldltd.com)

The original Program envisaged up to 23 Diamond core holes and up to 4,000 metres of drilling. In order to provide additional infill drilling in some key areas, the program was revised to include 31 Diamond core holes, representing up to 5,100 metres. All 31 holes have now been completed for 5,071 metres, and all 31 completed holes have intersected the Urumalqui Vein as predicted in cross sections prepared by the Company.

The Program was focused on infill drilling to a depth of 200 meters so as to provide a drill spacing of approximately 50 metres along the central and southeastern segments of the Urumalqui Vein, which cover 1.0 kilometre of the 1.5 kilometre long Urumalqui Vein outcrop where the majority of the Project's historical drilling was concentrated. This level of drilling density should be sufficient for the preparation of a NI 43-101 resource estimate, which the Company is in the process of commissioning

AndeanGold is very pleased with President Humala's recent appointments of free-market oriented individuals to key ministries of his administration thereby supporting his statements that the current economic model in Peru will be maintained. The Company is committed to advancing the Urumalqui Project to the development stage as soon as practicable, as well as actively working with the local communities related to the Project. AndeanGold has had excellent community relationships and is working on several agreed to social projects for the benefit of the communities.


Quality Assurance / Quality Control:

AndeanGold has in place a detailed QA/QC program consistent with Canadian Securities Administrators National Instrument 43-101 and using best industry practices. The program includes chain of custody of samples; standards and blanks submitted to the independent Inspectorate Lab in Lima Peru with each batch of samples, and a check assay program on a proportion of sample pulps with a second independent laboratory. The results of the QA/QC program to date have been satisfactory.

Dr. William F. Lindqvist, a director of the Company, is the Qualified Person in compliance with National Instrument 43-101 with respect to this release.

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 Urumalqui 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. In November 2009, President Correa signed the Mining Regulations into law pursuant to the requirements of the new Mines Law, which was passed in January 2009. This was the final legal precursor to the re-initiation of exploration and mining development in Ecuador. The Company has been issued new mining titles under the new Mines law to its three key Ecuadorian projects and has filed the requisite documents with the Ministry of Non-Renewable Natural Resources and Ministry of Environment in support of the Company's request to renew exploration programs on its key projects in Ecuador. The Company is actively working with government officials to achieve this end.

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: 732.940.5487 
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.

 



Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada


AndeanGold Ltd.


AndeanGold Reports Final Positive Assay Results, Urumalqui Au - Ag Project, Peru
9.8 oz/t AGE over 3.15 metres
15.4 oz/t AGE over 2.14 metres
10.8 oz/t AGE over 3.04 metres
10.8 oz/t AGE over 11.71 metres

Vancouver, B.C. - August 10, 2011 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU)   is pleased to announce that it has received the assay results for the final eleven drill holes from the Phase I infill drilling program (the "Program") on the Urumalqui Epithermal Vein (the "Vein") at its advanced-stage Au-Ag Urumalqui exploration project (the "Project") in Peru. The assay results are as follows:

DRILL
HOLE
DEPTH
BELOW
SURFACE
(metres)
FROM
(metres)
TO
(metres)
INTERVAL
(metres)
TRUE
WIDTH
(metres)
  AU
(g/t)
AG
(g/t)
AG EQUIVALENT
(g/t) (oz/t)
                     
PGUR #21 87.96  106.98 110.00 3.02 2.46   0.48 78.00 102.00 3.3
                     
PGUR #22  28.21 35.60 39.49 3.89 3.15   2.48 181.80 305.60 9.8
                     
PGUR #23  40.33 55.41 58.90 3.49 2.85   0.63 72.83 104.35 3.4
                     
PGUR #24  88.32 121.28 124.00 2.72 2.14   3.84 287.88 479.73 15.4
    INCLUDING                
    122.53 124.00 1.47 1.16   6.80 414.90 754.73 24.3
                     
PGUR #25  82.41 127.00 130.70 3.70 3.04   0.49 310.62 335.03 10.8
                     
PGUR #26  80.34 109.10 114.00 4.90 3.83   1.03 76.22 127.84 4.1
                     
PGUR #27  205.12 233.83 238.21 4.38 2.90   0.55 180.36 207.65 6.7
    INCLUDING                
    235.80 237.55 1.75 1.16   0.96 218.43 266.29 8.6
                     
PGUR #28  193.41 223.93 226.80 2.87 1.94   0.21 114.91 125.26 4.0
    INCLUDING                
    223.93 225.85 1.92 1.30   0.29 159.72 174.10 5.6
                     
PGUR #29  218.97 225.80 235.34 9.54 3.58   0.38 48.95 68.13 2.2
                     
PGUR #30  50.37 70.76 76.40 5.64 4.62   0.90 116.71 161.81 5.2
                     
PGUR #31  39.67 63.90 77.70 13.80 11.71   2.35 218.86 336.27 10.8
    INCLUDING                
    75.30 77.70 2.40 2.04   1.00 633.56 683.44 22.0
                     
                     
AG EQUIVALENT - Based on a silver to gold ratio of 50:1 and assuming 100% metallurgical recoveries.      
oz/t - Troy ounces per metric tonne.                
AG EQUIVALENT - Based on a silver to gold ratio of 50:1 and assuming 100% metallurgical recoveries.
oz/t - Troy ounces per metric tonne.

Mr. Anthony F. Ciali, President & CEO of AndeanGold states, "We are very pleased with the success of, and assays results from, the Company's recently completed Urumalqui infill drill program. The Company's overall assay results were in line with Gitennes' historical overall assay results from the Phase I target area. The following assay results from the final drill holes are noteworthy: <b>PGUR #24 - 2.14 metres true width at 3.84 g/t Au, 287.88 g/t Ag, 479.73 g/t AGE (15.4 oz/t)</b> and <b>PGUR #31 - 11.71 metres true width at 2.35 g/t Au, 218.86 g/t Ag, 336.27 g/t AGE (10.8 oz/t)</b>. PGUR #24 included a 0.89 metre drill interval running 7.12 g/t Au and 346.0 g/t Ag. The 7.12 g/t Au assay is the highest drill hole gold assay result reported at the Urumalqui Project. Also, the <b>11.71 metres</b> true width in PGUR #31 is the thickest mineralized interval drilled at the Urumalqui Project."

The latest holes were drilled principally along strike over an approximate 200 metre interval, covering the western portion of the Urumalqui Vein. In addition, three holes were drilled to a vertical depth of approximately 200 metres below surface, and four shallow holes were drilled in the eastern portion of the target area to infill an area near the historical underground exploration workings. (See updated Urumalqui Vein Longitudinal Section on the company website at www.andeangoldltd.com)

The original Program envisaged up to 23 Diamond core holes and up to 4,000 metres of drilling. In order to provide additional infill drilling in some key areas, the program was revised to include 31 Diamond core holes, representing up to 5,100 metres. All 31 holes have now been completed for 5,071 metres, and all 31 completed holes have intersected the Urumalqui Vein as predicted in cross sections prepared by the Company.

The Program was focused on infill drilling to a depth of 200 meters so as to provide a drill spacing of approximately 50 metres along the central and southeastern segments of the Urumalqui Vein, which cover 1.0 kilometre of the 1.5 kilometre long Urumalqui Vein outcrop where the majority of the Project's historical drilling was concentrated. This level of drilling density should be sufficient for the preparation of a NI 43-101 resource estimate, which the Company is in the process of commissioning

AndeanGold is very pleased with President Humala's recent appointments of free-market oriented individuals to key ministries of his administration thereby supporting his statements that the current economic model in Peru will be maintained. The Company is committed to advancing the Urumalqui Project to the development stage as soon as practicable, as well as actively working with the local communities related to the Project. AndeanGold has had excellent community relationships and is working on several agreed to social projects for the benefit of the communities.


Quality Assurance / Quality Control:

AndeanGold has in place a detailed QA/QC program consistent with Canadian Securities Administrators National Instrument 43-101 and using best industry practices. The program includes chain of custody of samples; standards and blanks submitted to the independent Inspectorate Lab in Lima Peru with each batch of samples, and a check assay program on a proportion of sample pulps with a second independent laboratory. The results of the QA/QC program to date have been satisfactory.

Dr. William F. Lindqvist, a director of the Company, is the Qualified Person in compliance with National Instrument 43-101 with respect to this release.

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 Urumalqui 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. In November 2009, President Correa signed the Mining Regulations into law pursuant to the requirements of the new Mines Law, which was passed in January 2009. This was the final legal precursor to the re-initiation of exploration and mining development in Ecuador. The Company has been issued new mining titles under the new Mines law to its three key Ecuadorian projects and has filed the requisite documents with the Ministry of Non-Renewable Natural Resources and Ministry of Environment in support of the Company's request to renew exploration programs on its key projects in Ecuador. The Company is actively working with government officials to achieve this end.

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: 732.940.5487 
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.

 



Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada

You may opt out of this email list in our Profile Centre


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Data and Statistics for these countries : Canada | Ecuador | Peru | All
Gold and Silver Prices for these countries : Canada | Ecuador | Peru | All

AndeanGold

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CODE : AAU.V
ISIN : CA03349A2002
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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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Financings of AndeanGold
2/24/2014AndeanGold Ltd. Announces $600=2C000 Non=2DBrokered Private ...
12/19/2013AndeanGold Ltd. Announces Closing of Private Placement
11/25/2013AndeanGold Announces Closing of Fourth Tranche of $500=2C00...
11/4/2013AndeanGold Announces Closing of Third Tranche of $500=2C000...
10/3/2013AndeanGold Announces Closing of Second Tranche of $500=2C00...
5/16/2013Announces Closing of Second Tranche of $1,000,000 Private Pl...
5/3/2013Announces Closing of First Tranche of $1,000,000 Private Pla...
4/29/2013Announces $1,000,000 Private Placement
11/2/2012Announces $1,200,000 Private Placement
9/3/2012Announces Closing of $645,000 Private Placement
2/10/2011Announces $3.0 Million Non-Brokered Private Placement
7/8/2009Announces Increase in Non-Brokered Private Placement up to $...
7/2/2009Announces Closing of First Tranche of $1.0 Million Non-Broke...
6/10/2009Announces $1.0 Million Non-Brokered Private Placement
Nominations of AndeanGold
3/25/2013Announces Appointment Vice President Exploration
Project news of AndeanGold
1/3/2014AndeanGold Ltd. Urumalqui Project Update
5/21/2013Signs Amendment to Agreement to Acquire Gitennes' 40% Intere...
5/15/2013Signs Phase II Drilling Agreement for Urumalqui Ag-Au Projec...
4/22/2013Announces Approval of Environmental Impact Assessment Drilli...
2/20/2013Announces Additional Surface Channel Sampling Assay Results ...
9/24/2012(Curiplaya)Authorized to Recommence Exploration onCuriplaya Project, Ec...
5/29/2012Announces Encouraging Surface Channel Sampling Assay Results...
5/23/2012Signs Agreement to Acquire Gitennes' 40% Interest in Urumalq...
4/12/2012Announces Initiation of Metallurgical Test Program Urumalqui...
1/23/2012Signs Memorandum of Understanding with Gitennes Providing an...
9/13/2011Commissions NI 43-101 Minera
7/7/2011Reports Additional Encouraging AGE Assay Results, Urumalqui ...
6/7/2011Reports Additional Noteworthy AGE Assay Results, Urumalqui ...
5/13/2011Intersects 9.01 oz/t AGE ove
3/30/2011(Urulmaqui)Commences Drilling at Urumal
3/22/2011(Urulmaqui)Signs Drilling Agreement for
2/16/2011Announces Approval of Drilling Permit for Urumalqui Au-Ag Pr...
11/17/2009(Rio Seco)Reports Phase 1 Drill Results
9/28/2009(Rio Seco)Commences Phase 1 Drilling Program at the Rio Seco Project, ...
9/16/2009(Rio Seco)on Rio Seco Project, Peru
2/9/2009(Rio Seco)Announces Work Program on Rio Seco Project, Peru
Corporate news of AndeanGold
10/30/2012Common Shares Commence Tradingon the Lima Stock Exchange
10/10/2012To Exhibit at Silver Summit 2012
8/15/2012Announces Positive Preliminary Metallurgical Test Results
7/16/2012Announces Closing of First Tranche of $500,000 Private Place...
7/6/2012Announces $500,000 Non-Brokered Private Placement
3/20/2012Announces Extension of Warrants Expiring on March 30, 2012
2/16/2012Provides Positive Update on
2/9/2012Exhibiting at the 2012 California Resource Investment Confer...
1/17/2012Exhibiting at the 2012 Vancouver Resource Investment Confere...
8/10/2011Reports Final Positive Assay Results, Urumalqui Au - Ag Proj...
5/24/2011Reports Additional Positive
5/6/2011s Phase I Infill Drill
6/30/2010Receives Shareholders’ App
5/20/2010s its Activities in Ecuador
2/1/2010Signs Memorandum of Understanding to Acquire a 60% JV Intere...
10/7/2009Completes Phase 1 Drill Program on Rio Seco Project, Peru
7/23/2009Announces Closing of $1.14 Million Private Placement
12/17/2008Acquires 17 Gold - Silver Concessions in Peru
9/25/2008signs Letter of Intent to enter into a Joint Venture in Colo...
9/12/2008Announces Results of Annual and Special General Shareholders...
7/28/2008 Updates its Activities in Colombia, Peru and Ecuador
8/7/2008Announces Opening of Office and Staff Additions in Colombia
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