Sydney, 29 October 2009
Andean Announces Quarterly Report
Andean Resources (ASX/TSX) today announced the results for the quarter ended September 30, 2009 covering the Company’s activities at its 100% owned Cerro Negro epithermal gold project in southern Argentina. Good progress continues to be made in the exploration programs designed to increase the Company’s overall gold and silver resources; in the bankable feasibility study; in site infrastructure; and in building a team to enable the path to production, with the following highlights:
Further drilling at the Bajo Negro discovery extended known strike length to over 1 kilometer with the vein remaining open along strike and to depth
• BDD-925: 9.4m of 22.1 g/t Au and 42 g/t Ag from 242m
• BDD-937: 9.6m of 22.1 g/t Au and 30 g/t Ag from 267m
• BDD-942: 13.5m of 13.7 g/t Au and 46 g/t Ag from 308m
• BDD-954: 4.9m of 21.3 g/t Au and 41 g/t Ag from 279m
• BDD-955: 5.75m of 104.9 g/t Au and >45 g/t Ag from 263m
• Completion of the first ever winter drill program at Cerro Negro
• New Bajo Negro discovery to be included in the Bankable Feasibility Study
• Underground contractor to mobilize to site in the fourth quarter of 2009
• Appointment of Louis Gignac as Chairman of the Board
• Appointment of Richard Leclerc as Vice President, Operations
• Cash balances at quarter-end were A$95.2M
A full copy of today’s ASX/TSX release is attached.
Krista Muhr
Director of Investor Relations
Andean Resources
T: +1.647.330.1478
E: krista.muhr@andeangold.com
