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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (44666)	10/7/2009 7:57:57 PM
From: LoneClone	Read Replies (1) \| Respond to of 196816

AndeanGold Completes Phase 1 Drill Program on Rio Seco Project, Peru Wed Oct 7, 9:00 AM ca.news.finance.yahoo.com VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2009) - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE: AAU.V) is pleased to 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. 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 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 Tony Ciali AndeanGold Ltd. Corporate Office 609.844.7746 tciali@andeangoldltd.com www.andeangoldltd.com Jim Glass Ascenta Capital Partners Inc. Investor Relations 604.684.4743 ext. 225 or Toll free: 1.866.684.4743 ext. 225 jim@ascentacapital.com