AndeanGold has been active in Ecuador since the date of the Company's incorporation. The Company controls presently, through wholly owned subsidiaries, a 100 percent interest in 4 granted concessions, comprising three distinct projects, in Ecuador, approximately 10,666 hectares.
ECUADOR MINES LAW:
All exploration activities in Ecuador were halted in April 2008 due to Ecuador's Constitutional Assembly's passage of a Mining Mandate that, among other provisions, precluded any mining activities for a period of 180 days or until a new Mines Law was passed.
Ecuador passed a new Mines Law in January 2009, and the President signed the related Mining Regulations into law in November 2009.
Mining companies must regularize their existing concessions pursuant to the new Mines law and Regulations and must update any existing Environmental Impact Studies. In April 2010, the Company was issued new mining titles to its 3 key Ecuadorian Projects under the new Mines Law.
The Company has filed the requisite documents with the Ministries of Non-Renewable Natural Resources and Environment in support of the Company's request to renew exploration programs on its key projects in Ecuador.
When the renewal of exploration activities is approved, future work programs will focus on one or more drilling programs at the Company's three (3) key Ecuadorian Projects.
AndeanGold's concessions are located in southern Ecuador, a highly prospective region that is currently host to a number of projects. These include, among others, Kinross' Condor Project, IAMGOLD's Quimsacocha Project, International Minerals' Rio Blanco and Gaby Projects, Corriente Resources' Mirador Project, and Dynasty Metals & Mining's Copper-Gold Belt, Zamora Project.
AndeanGold's principal properties in Ecuador are the Curiplaya Project, a gold-copper porphyry system, the Molleturo Project, a high-grade polymetallic vein system and the San Bartolomé Project, a high-grade polymetallic vein system. NI 43-101 Reports were prepared for the Curiplaya and Molleturo Projects with AndeanGold's TSX Venture Exchange listing on January 12, 2007.