| | Publié le 06 mai 2011 | s Phase I Infill Drill |
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AndeanGold Updates Phase I Infill Drilling Program at Urumalqui Au - Ag Project, Peru
Vancouver, B.C. - May 6, 2011 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU)
is pleased to provide an update on the Phase I infill drilling program (the "Program") at its advanced-staged Au-Ag Urumalqui exploration project (the "Project") in Peru. The contract driller, Explomin Del Peru S.A.C. ("Explomin"), commenced the Program on March 29, 2011.
The planned Program comprises up to 23 diamond core drill holes and 3,000 to 4,000 metres of drilling. To date, 10 holes have been completed for 1,918 metres. Core samples for the first 7 completed holes have been shipped to the Inspectorate Lab in Lima for assaying. The Company expects to shortly release initial assay results, and thereafter, assay results will be released on a periodic basis.
All completed holes intersected the Urumalqui Vein ("Vein") as predicted in the cross sections prepared by the Company, providing initial support for the continuity of the strike and dip of the Vein over the 1,000 metre strike length planned to be drilled in the Program. To date, Explomin has achieved an average daily drilling rate of 61 metres, and core recoveries per hole have averaged 93% within the Vein and 96% for the entire hole. Overall, the drilling results to date are in line with the Company's expectations, and the Program is proceeding on schedule.
The Program is 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 Urumalqui Vein outcrop where the majority of the Project's historical drilling programs were concentrated. This level of drilling density should optimize the results of a NI 43-101 resource estimate, which the Company plans to commission upon completion of the Program.
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
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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
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AndeanGold Updates Phase I Infill Drilling Program at Urumalqui Au - Ag Project, Peru
Vancouver, B.C. - May 6, 2011 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU)
is pleased to provide an update on the Phase I infill drilling program (the "Program") at its advanced-staged Au-Ag Urumalqui exploration project (the "Project") in Peru. The contract driller, Explomin Del Peru S.A.C. ("Explomin"), commenced the Program on March 29, 2011.
The planned Program comprises up to 23 diamond core drill holes and 3,000 to 4,000 metres of drilling. To date, 10 holes have been completed for 1,918 metres. Core samples for the first 7 completed holes have been shipped to the Inspectorate Lab in Lima for assaying. The Company expects to shortly release initial assay results, and thereafter, assay results will be released on a periodic basis.
All completed holes intersected the Urumalqui Vein ("Vein") as predicted in the cross sections prepared by the Company, providing initial support for the continuity of the strike and dip of the Vein over the 1,000 metre strike length planned to be drilled in the Program. To date, Explomin has achieved an average daily drilling rate of 61 metres, and core recoveries per hole have averaged 93% within the Vein and 96% for the entire hole. Overall, the drilling results to date are in line with the Company's expectations, and the Program is proceeding on schedule.
The Program is 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 Urumalqui Vein outcrop where the majority of the Project's historical drilling programs were concentrated. This level of drilling density should optimize the results of a NI 43-101 resource estimate, which the Company plans to commission upon completion of the Program.
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
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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
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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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