| | Publié le 16 septembre 2009 | on Rio Seco Project, Peru |
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AndeanGold Update on Rio Seco Project, Peru
Vancouver,
B.C. - September 16, 2009 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture
Exchange: AAU) is pleased to announce that the Company's wholly
owned Peruvian subsidiary, PeruGold Resources S.A.C. ("PGR"),
has received approval from the Ministry of Energy and Mines of Peru for
the Environmental Impact Declaration submitted in connection with PGR's proposed
Phase I drilling program (the "Program") on the Company's Rio
Seco Project (the "Project"). In addition, PGR has signed
an agreement with A. K. Drilling International S.A., based in Lima, Peru,
for a 1,400 metre reverse circulation drilling program. PGR is
presently in the final stages of signing an agreement with the surface
owner of the Rio Seco Project area, a government unit of the Department
of Libertad, which also owns the water channel that runs through the
Project. This agreement is the final prerequisite in order to
commence the Program. Presently, PGR anticipates that drilling
should commence during the week of September 23, 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. The Phase I drilling
program will be focused on the West Zone's stockwork target (600m long x
100m wide), where previous structural and geological mapping and
trenching programs have identified a target comprising quartz vein
stockworks, ladder vein networks and discrete veins. Several
sizeable mineralized lenses are found within the stockwork target
containing higher concentrations of veining and better gold values. The
access road that runs through the Project along the eastern side of the
stockwork target exposed in outcrops four better-defined lenses, over a
width of 25m. Based on the results of the work done to date and the
Company's present geological model, there are also indications of
additional mineralized lenses within the remaining 75m width of the
stockwork target to the west which is poorly exposed and deeply weathered
and, therefore, less amenable to detailed evaluation by surface work. Based
on the assay results from the 2008 and 2009 trenching programs, the four
exposed lenses have an average indicative grade of 1.02 g/t AUE (0.96 g/t
Au and 4.82 g/t Ag, based on a 75:1 gold/silver price ratio and in-situ
values), based on averaging all channel and outcrop samples within each
lens. (See new releases of April 20, 2009 and May 12, 2009 and Map of Rio Seco Project ,
outlining the mineralized targets within the West Zone and the Company's
concession blocks)
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. The results of the 2008
and 2009 trenching programs were encouraging and supported the Company's
decision to initiate the Phase I drilling program to test the depth,
strike extent and grade of the 600x100m stockwork target area to a depth
of 100m.
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.
|
|
|
|
|
|
Ascenta
Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver �
BC V6E 3X1 � Canada
|
AndeanGold Update on Rio Seco Project, Peru
Vancouver, B.C. - September 16,
2009 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX
Venture Exchange: AAU) is pleased to announce that the Company's
wholly owned Peruvian subsidiary, PeruGold Resources S.A.C.
("PGR"), has received approval from the Ministry of Energy and
Mines of Peru for the Environmental Impact Declaration submitted in
connection with PGR's proposed Phase I drilling program (the
"Program") on the Company's Rio Seco Project (the
"Project"). In addition, PGR has signed an agreement with
A. K. Drilling International S.A., based in Lima, Peru, for a 1,400 metre
reverse circulation drilling program. PGR is presently in the final
stages of signing an agreement with the surface owner of the Rio Seco
Project area, a government unit of the Department of Libertad, which also
owns the water channel that runs through the Project. This agreement
is the final prerequisite in order to commence the Program.
Presently, PGR anticipates that drilling should commence during the
week of September 23, 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. The Phase I drilling
program will be focused on the West Zone's stockwork target (600m long x
100m wide), where previous structural and geological mapping and trenching
programs have identified a target comprising quartz vein stockworks, ladder
vein networks and discrete veins. Several sizeable mineralized lenses
are found within the stockwork target containing higher concentrations of
veining and better gold values. The access road that runs through the
Project along the eastern side of the stockwork target exposed in outcrops
four better-defined lenses, over a width of 25m. Based on the results of
the work done to date and the Company's present geological model, there are
also indications of additional mineralized lenses within the remaining 75m
width of the stockwork target to the west which is poorly exposed and
deeply weathered and, therefore, less amenable to detailed evaluation by
surface work. Based on the assay results from the 2008 and 2009 trenching
programs, the four exposed lenses have an average indicative grade of 1.02
g/t AUE (0.96 g/t Au and 4.82 g/t Ag, based on a 75:1 gold/silver price
ratio and in-situ values), based on averaging all channel and outcrop
samples within each lens. (See new releases of April 20, 2009 and May 12,
2009 and Map of Rio Seco Project , outlining the
mineralized targets within the West Zone and the Company's concession
blocks)
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. The results of the
2008 and 2009 trenching programs were encouraging and supported the
Company's decision to initiate the Phase I drilling program to test the
depth, strike extent and grade of the 600x100m stockwork target area to a
depth of 100m.
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.
|
|
|
AndeanGold
|
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EXPLORATEUR |
CODE : AAU.V |
ISIN : CA03349A2002 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
AndeanGold est une société d’exploration minière d'or basée au Canada. AndeanGold détient divers projets d'exploration au Perou. Ses principaux projets en exploration sont MOLLETURO, SAN BARTOLOMÉ et CURIPLAYA en Equateur et RIO SECO et URULMAQUI au Perou. AndeanGold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 4,2 millions CA$ (3,3 millions US$, 3,2 millions €). La valeur de son action a atteint son plus haut niveau récent le 12 janvier 2007 à 0,58 CA$, et son plus bas niveau récent le 09 juin 2023 à 0,01 CA$. AndeanGold possède 103 930 000 actions en circulation. |
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