Boca Raton, FL – The Andes Gold Corporation, a gold mining and milling company with existing operations in Ecuador and Peru, has said it will begin direct shipping of gold internationally in December.
The Company’s initial shipments will be 10 kgm. of gold (320 troy oz.) per month.
The company said it is anticipated that the direct shipping of gold internationally will increase to 30 kgms of gold (960 troy ozs) per month by May, 2015, in addition to its existing production.
Andes Gold owns two producing mines and one fully operating mill that currently processes about 150 tons of ore per day.
The average head grade of ore being processed is 1.0 oz gold and 15 g of silver per ton of ore.
Andes Gold processes ore from other mines and has reclamation programs on all its projects.
On the Miranda vein, the company has 95,000 oz. of proven reserves. Inferred reserves from the 700 m level on Miranda, Azul, Estrella, Sul and Viscaya veins are 600,000 oz.
The Zaruma-Portovelo district of southern Ecuador is a prolific producer of both gold and silver covering an area of more than 150 square kilometers with at least 15 major veins.
All of these veins are currently covered by only small mining concessions of 10 to 40 hectares in surface area.