Los Andes Announces Third Results of 2017 Drill Program at the Vizcachitas Deposit Results of Drill Hole V2017-05 Extend Known Higher Grade Mineralization to the North and Drill Hole V2017-04 Continues to Support Presence of Higher
Los Andes Announces Third Results of 2017 Drill
Program at the Vizcachitas Deposit
Results of Drill Hole V2017-05 Extend Known Higher Grade Mineralization to
the North and Drill Hole V2017-04 Continues to Support Presence of Higher
Grades near Surface in the Central Core
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2017) - Los Andes Copper Ltd. (TSXV: LA) ("Los Andes", or the
"Company") is very pleased to announce the results of drill holes V2017-04, V2015-08Ex (extension of last year's V2015-08)
and V2017-05. Following the results already published for the 2017 campaign, these results not only further support the
presence of higher grade mineralization in the project's central core, but extend presence of high grade mineralization to the
north of the existing central core, to areas categorized as either waste or low grade in the old geological model.
The key results from these holes are:
V2017-04:
90.0 m @ 0.51 % Cu, 127 ppm Mo and 1.6 g/t Ag (0.56 % CuEq) from 92.0 m downhole
Including:
30.0 m @ 0.60 % Cu, 121 ppm Mo and 1.8 g/t Ag (0.65 % CuEq) from 142.0 m downhole
V2015
-0
8Ex
:
(from last year's bottom of 725.5 metres)
26.0 m @ 0.50 % Cu, 441 ppm Mo and 1.1 g/t Ag (0.62 % CuEq) from 804.0 m downhole
28.0 m @ 0.53 % Cu, 361 ppm Mo and 1.0 g/t Ag (0.64 % CuEq) from 946.0 m downhole
V2017-0
5
:
28.0 m @ 0.55 % Cu, 234 ppm Mo and 0.9 g/t Ag (0.62 % CuEq) from 170.0 m downhole
48.0 m @ 0.55 % Cu, 248 ppm Mo and 1.1 g/t Ag (0.63 % CuEq) from 212.0 m downhole
18.0 m @ 0.53 % Cu, 151 ppm Mo and 1.2 g/t Ag (0.58 % CuEq) from 286.0 m downhole
22.0 m @ 0.53 % Cu, 179 ppm Mo and 1.4 g/t Ag (0.59 % CuEq) from 368.0 m downhole
80.0 m @ 0.53 % Cu, 285 ppm Mo and 1.9 g/t Ag (0.63 % CuEq) from 798.0 m downhole
Including:
36.0 m @ 0.59 % Cu, 183 ppm Mo and 2.1 g/t Ag (0.66 % CuEq) from 840.0 m downhole
Cautionary Statement: All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot
be determined from the information available.
Background
Historical drilling was carried out on the Vizcachitas project in three exploration campaigns during 1993, 1996/1997 and
2007/2008. However, the higher grade central core had only been drilled in the 1990's campaigns and with generally shallower
drill holes, therefore not properly reflecting the potential of this core area.
During 2014, a complete review of the historical information was performed to better understand the project, including re-logging
all of the 146 drill holes located within the property. The re-logging was led by Gonzalo Saldias, a Chilean geologist and one of
the most recognized experts in Chilean porphyry systems. This detailed review showed that the historical logging and geological
model had not properly identified the importance of the higher grade early diorite porphyry and hydrothermal breccias. The re-
logging showed that these higher grade geological units extend over a distance of 1,400 metres north-south and 700 metres
east-west. The mapping showed that these breccias have grades increasing with depth and demonstrates the potential for
higher grades below the historical drilling.
In 2015, Los Andes began a drill program to confirm a new geological model and to demonstrate the extent of the central core
mineralisation. A first stage of this exploration campaign was completed in 2015/2016, with eight diamond drill holes totaling
3,661 metres. During 2017, Los Andes has carried out a second stage of this campaign with the purpose of demonstrating the
northern and southern extension of the high grade core.
Location of Drill Holes:
Hole
Easting
Northing
Elevation
(metres)
Azimut
(degrees)
Inclination
(degrees)
Final depth
(metres)
V2017-01
365,778
6,413,544
2,003
110
-60
(69.90) Abandoned
V2017-01A
365,786
6,413,534
2,003
105
-60
851.25
V2017-02
366,278
6,413,255
2,090
290
-65
1,030.60
V2017-03
365,936
6,413,856
2,049
290
-80
(62.00) Abandoned
V2017-04
366.200
6,413,056
1,978
110
-70
653.00
V2015-08 Ex
365.159
6,413,542
2,154
290
-75
1,001.00
V2017-05
365,996
6,413,879
2,080
270
-80
931.90
V2017-06
366,037
6,413,538
2,073
110
-65
857.00
V2017-07
366,099
6,413,337
2,046
110
-60
721.10
V2017-08
365,996
6,413,879
2,080
15
-70
400.25
V2017-09
365,785
6,413,377
1,993
120
-70
(85.50) Abandoned
V2017-09B
365,785
6,413,382
1,993
120
-75
804.20
V2017-10
365,682
6,413,878
2,040
65
-75
1,001.00
V2017-11
365,745
6,413,745
2,024
85
-75
735.90
All coordinates are in UTM WGS84
A drill hole location plan is available on our website:
www.losandescopper.com
Summary of Drill Holes
Drill Hole
V2017
-0
4
This hole was drilled 200 metres to the south of drill hole V2017-02 in a south-east direction. The drill hole was planned to test
the vertical extension of the hydrothermal breccias identified in the drill holes to the east. The top of bed rock was intersected at
a depth of 77 metres and a sequence of andesites with hydrothermal and igneous breccias was intersected down to a depth of
329 metres.
From a downhole depth of 92 metres, the drill hole intersected 90 metre @ 0.51 % Cu, 127 ppm Mo and 1.6 g/t Ag
(0.56 % CuEq) and from a downhole depth of 142 metres, the drill hole intersected 30 metre @ 0.60 % Cu, 121 ppm Mo and 1.8
g/t Ag (0.65 % CuEq). These intersections support the new geological model demonstrating the continuity of the higher grade
associated with the hydrothermal breccias near surface.
From a depth of 329 metres, this drill hole intersected a long sequence of intermineral lower grade granodiorite until the end of
the hole at a depth of 653 metres. The drill hole did not intersect the andesite host rock as expected, demonstrating that the
intrusive system is open to the east at this point.
Key intersections from drill hole V2017-04:
Hole Number
Depth From (m)
Depth To
(m)
Length (m)
Cu %
Mo ppm
Ag g/t
CuEq %
V201
7-0
4
92.0
182.0
90.0
0.51
127
1.6
0.56
including
142.0
172.0
30.0
0.60
121
1.8
0.65
V201
7-04
198.0
216.0
18.0
0.48
75
1.7
0.52
*
Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) +
2.5
x Mo
(%) + 110.55 x Ag (%), using
the metal prices: $ 2.
2
/ lb. Cu
,
$
5.5
/ lb. Mo
and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results)
.
All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be
determined from the information available.
Drill Hole
V201
5
-0
8Ex
The drill hole V2015-08 was drilled to a depth of 725.5 metres during the 2015/2016 drill campaign but was stopped at this
depth due to budget restrictions. The casing was left in the hole so during this campaign we were able to re-enter the hole and
extend it. The hydrothermal breccia that was intersected in 2016 at a depth of 712 metres continued through to a depth of 745
metres. From a depth of 745 metres to the end of the drill hole at a depth of 1,001 metres, the drill hole intersected a long
sequence of the target early diorite porphyry. This included from a downhole depth of 804 metres, 26 metre @ 0.50 % Cu, 441
ppm Mo and 1.1 g/t Ag (0.62 % CuEq) and, from a downhole depth of 946 metres, 28 metre @ 0.53 % Cu, 361 ppm Mo and 1.0
g/t Ag (0.64 % CuEq). The results of this drill hole support the geological model showing the well mineralised early diorite
porphyry over a long sequence in the core of the project.
Key intersections from drill hole V2015-08Ex:
Hole Number
Depth From (m)
Depth To
(m)
Length (m)
Cu %
Mo ppm
Ag g/t
CuEq %
V201
5
-0
8Ex
804.0
830.0
26.0
0.50
441
1.1
0.62
V201
5
-0
8Ex
910.0
940.0
30.0
0.45
423
1.0
0.56
V201
5
-0
8Ex
946.0
974.0
28.0
0.53
361
1.0
0.64
*
Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) +
2.5
x Mo
(%) + 110.55 x Ag (%), using
the metal prices: $ 2.
2
/ lb. Cu
,
$
5.5
/ lb. Mo
and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results)
.
All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be
determined from the information available.
Drill Hole
V201
7
-0
5
The drill hole V2017-05 was drilled in the northern part of the project in a westerly direction. The aim of the hole was to drill from
the unmineralised diatreme out towards the early diorite porphyry that had been intersected in drill hole V-39 back in the 1990s.
The re-interpretation of the drill hole V-39 with the well mineralised intersection of the early diorite porphyry was key to identifying
the extension to the north of higher grade mineralization.
The drill hole intersected, from a depth of 60 metres, a sequence of unmineralised diatreme and post mineral dacite dykes to a
downhole depth of 169 metres. From a downhole depth of 170 metres, the drill hole intersected the early diorite porphyry with 28
metre @ 0.55 % Cu, 234 ppm Mo and 0.9 g/t Ag (0.62 % CuEq).
From a depth of 198 metres, a sequence of early diorite porphyry, fine diorite and medium grain diorites extends to a downhole
depth of 377 metres. Within this sequence, the drill hole intersected 48 metre @ 0.55 % Cu, 248 ppm Mo and 1.1 g/t Ag (0.63 %
CuEq) from a downhole depth of 212 metre and
18 metre @ 0.53 % Cu, 151 ppm Mo and 1.2 g/t Ag (0.58 % CuEq) from a
downhole depth of 286 metre.
From a depth of 377 metres to depth of 658 metres, the drill hole intersected a hydrothermal breccia and then, from 658 metres
to 904 metres, the hole intersected medium grained dirorites and igneous breccias. This is the first intersection of hydrothermal
breccias this far north in the project. From 904 metres to the end of the drill hole at 931.9 metres, the drill hole intersected an
intermineral tonalite intrusive. This sequence included 80 metre @ 0.53 % Cu, 285 ppm Mo and 1.9 g/t Ag (0.63 % CuEq) from
a downhole depth of 798 metre .
These intersections of the well mineralised hydrothermal breccias and early diorite porphyry support the northern extension of the
well mineralised central core. In the 2014 block model, this northern area was interpreted as either waste or low grade material.
Key intersections from drill hole V2017-05:
Hole Number
Depth From (m)
Depth To
(m)
Length (m)
Cu %
Mo ppm
Ag g/t
CuEq %
V201
7
-0
5
170.0
198.0
28.0
0.55
234
0.9
0.62
V201
7-05
212.0
260.0
48.0
0.55
248
1.1
0.63
V201
7-05
286.0
304.0
18.0
0.53
151
1.2
0.58
V201
7-05
368.0
390.0
22.0
0.53
179
1.4
0.59
V201
7-05
660.0
704.0
44.0
0.49
192
1.1
0.55
V201
7
-
05
798.0
878.0
80.0
0.53
285
1.9
0.63
including
840.0
876.0
36.0
0.59
183
2.1
0.66
*
Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) +
2.5
x Mo
(%) + 110.55 x Ag (%), using
the metal prices: $ 2.
2
/ lb. Cu
,
$
5.5
/ lb. Mo
and
$15.2 / Oz (same reference prices as in reporting of 2015/2016 results)
.
All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be
determined from the information available.
QA/QC
Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the
sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the
preparatory laboratory of ALS Minerals in Coquimbo, Chile. All geochemical analyses were performed by ALS Minerals in Lima
Peru. All samples were assayed using the method ME-MS61, a four-acid digestion with an ICP-MS finish. Copper samples with
grades above 0.6 % Cu were reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish.
Mr. Amberg MSc CGeol FGS is the Qualified Person responsible for the preparation of this news release.
Team Credential
s
Mr. Amberg MSc CGeol FGS is a geologist who is a graduate of the Royal School of Mines, London, has an MSc. from
University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse
experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career
in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere.
In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position
with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the
Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in
Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on
three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he
managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in
project evaluation and NI 43-101 technical reports. Mr. Amberg's clients included Rio Tinto, Barrick, Codelco, Anglo American,
Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist and is now
also the President and Chief Executive Officer.
Mr. Amberg MSc CGeol FGS is a Qualified Person under NI 43-101.
Gonzalo Saldias is a geologist who is a graduate of Universidad Católica del Norte, Chile. He has over 35 years of experience
working within Chile and internationally; mainly on copper porphyry, epithermal gold silver and iron-oxide copper gold systems.
For the last seven years, he worked for Antofagasta Minerals evaluating copper porphyry projects within Chile, assessing their
geological and economical potential. Prior to that he had worked for ten years with Placer Dome Latin America, generating and
evaluating exploration projects within the region. Prior to Placer Dome, he worked for Codelco as head of exploration geology
for the El Salvador Division, developing the prospective areas near to the mine. He also worked for Northern Resources,
Homestake, Utah, Anaconda and as an independent consultant.
For more information please contact:
Antony J. Amberg, President & CEO
Tel:
+56 2 2954-0450
Aurora Davidson, CFO
Tel:
604-697-6207
E-Mail:
or visit our website at:
www.losandescopper.com
Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking
information" within the meaning of the Securities Act (British Columbia),
Securities Act
(Ontario) and the
Securities Act
(Alberta) ("Forward-Looking Information").
Forward-Looking Information is often, but not always, identified by the use of words
such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on
or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions.
More specifically, Forward-
Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the
achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in
the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental
relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral
resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of
permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and
competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent
uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks
and uncertainties, including those described in Management's Discussion and Analysis in the Company's financial
statements.
Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean
economic, political and market conditions and the price of metals and energy,
and the Company's production
.
Among the
factors that have a direct bearing on the Company's future results of operations and financial conditions are
changes in
project para
metres
as plans continue to be refined, a change in government policies, competition, currency fluctuations and
restrictions and technological changes, among other things.
Should one or more of any of the aforementioned risks and
uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any
conclusions, forecasts or projections described in the Forward-Looking Information.
Accordingly, readers are advised not to
place undue reliance on Forward-Looking Information.
Except as required under applicable securities legislation, the
Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
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.