'Investing in exploration is an important part of Andean's strategic plan to extend the life-of-mine at our flagship San Bartolome project to ten years,' said
Phase One Exploration Program Overview
The Company plans to drill 10,000 metres at Rio Blanco and 10,000 metres at San Pablo. Currently, three diamond drill rigs are contracted and active. Once all assays are received from the Phase One exploration program, the Company expects to launch a Phase Two exploration program of an additional 20,000 metres. Both phases are fully funded. Contracts have this week been signed with Quantec for Titan geophysical surveys at both properties.
About Rio Blanco
The 100% owned
Rio Blanco is an Orogenic gold deposit hosted in a folded Ordovician sedimentary sequence composed of shales and sandstones that were affected by a low-grade metamorphism. Extensive geological mapping has been completed and 1500 samples assayed at ALS in
Andean's phase one drill program has 22 diamond drill holes planned which follow an extensive program of geological mapping and trenching perpendicular to the axis of the target mineralisation.
About San Pablo
The 100% owned
Early work suggests gold-hosted mineralization occurs near surface in an intrusion-related gold system with narrow sheeted veins together with separate, more discrete veins. The presence of secondary biotite alteration may indicate the presence of porphyry-style mineralization on the property. The Company is planning to test for the presence of porphyry-style mineralization with its new exploration work.
About
Contact:
Tel: +1 647 480 1550
Email: ir@andeanpm.com
Caution Regarding Forward-Looking Statements
This press release contains statements which constitute 'forward-looking statements' and 'forward-looking information' within the meaning of applicable securities laws (collectively, 'forward-looking statements'), including statements regarding the plans, intentions, beliefs and current expectations of Andean with respect to future business activities and operating performance.
Forward-looking statements are often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Andean's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Andean believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Andean. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets. These forward-looking statements may be affected by risks and uncertainties in the business of Andean and general market conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Andean has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Andean does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
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