AndeanGold Commences Drilling at Urumalqui Au-Ag Project, Peru
March 29 2011 - 1:05PM
Marketwired
AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE: AAU)
is pleased to announce that the Phase I infill drilling program
(the "Program") commenced at its advanced-staged Au-Ag Urumalqui
exploration project (the "Project") in Peru on Monday, March 28th,
as planned. The contract driller, Explomin Del Peru S.A.C., timely
mobilized the diamond core rig during the week of March 21st,
following the signing of the drilling agreement (See new release of
March 22, 2011).
The Program will focus on infill drilling to a depth of 200
meters 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 was concentrated. The Program will include a minimum of
3,000 metres of diamond core infill drilling, which is intended to
achieve an overall drill hole spacing of approximately 50 metres
over the 1.0 kilometre vein strike, to a depth of 200 metres. 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
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.
Contacts: AndeanGold Ltd. Tony Ciali 732.940.5487
tciali@andeangoldltd.com www.andeangoldltd.com Ascenta Capital
Partners Inc. Jim Glass Investor Relations 604.684.4743 ext. 225 or
Toll Free: 1.866.684.4743 ext. 225 jim@ascentacapital.com
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