AndeanGold Completes Phase 1 Drill Program on Rio Seco Project, Peru
AndeanGold Ltd. 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 100m to 158m in inclined length and from 84m to 143m 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 600x100m 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.