Goldcorp Inc. (NYSE:GG, TSE:G) and Andean Resources Limited (TSX: AND, ASX: AND) today announced an agreement whereby Goldcorp will acquire, through a scheme of arrangement under Australian law, all of the outstanding shares of Andean.

The press release is quoted as saying:

Andean’s principal asset is the 100%-owned Cerro Negro gold project, an advanced-stage, high-grade vein system located in the Santa Cruz province of Argentina. Comprising 215 square kilometers, Cerro Negro currently has reported indicated resources of 2.54 million ounces of gold and 23.56 million ounces of silver. Inferred resources total 523,000 ounces of gold and 3.12 million ounces of silver1. Cerro Negro also contains several other vein structures, including the Mariana Central zone, where numerous recent drill intercepts have demonstrated high-grade gold and silver over significant widths.

Click here to access the entire press release

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