Los Andes Copper Announces the Largest 1% Copper Equivalent Intercept to Date at Vizcachitas Copper Project, Chile 152m Grading 1% Copper Equivalent Included in 387 m at 0.56% Copper Equivalent Additionally, 377 m at 0.31% Copper Equivalent
Los Andes Copper Announces the Largest 1%
Copper Equivalent Intercept to Date at
Vizcachitas Copper Project, Chile
152m Grading 1% Copper Equivalent
Included in 387 m at 0.56% Copper Equivalent
Additionally, 377 m at 0.31% Copper Equivalent
Vancouver, British Columbia, London, United Kingdom and Santiago, Chile--(Newsfile Corp. - May 16,
2022) -
Los Andes Copper Ltd.
(TSXV: LA) (OTCQX: LSANF) ("
Los Andes
", "
LA
" or the
"
Company
") reports further excellent results from drilling completed at the Vizcachitas Copper Project in
Chile.
Hole CMV-009 located near the southern edge of the current resources has returned results from 93.2
meters to 480.35 meters with a copper equivalent grade of 0.56 %, including 0.53 % copper, 62 parts
per million ("ppm") molybdenum and 1.5 grammes per tonne ("g/t") silver. Included in this intercept is an
interval from 108 meters to 260 meters, of 152 meters grading 1.00% copper equivalent. Further drilling
is planned to outline this area in detail.
Hole CMV-010 located near the western edge of the previous resource model returned assay results
from 430.0 meters to 807.3 meters, with 377.3 meters of 0.31 % copper equivalent. This result will be
incorporated into the new resource assessment for the Pre-Feasibility Study ("PFS") targeted for the
fourth quarter 2022.
R. Michael Jones, CEO of Los Andes, comments that
"The shallow mineralization in Hole CMV-009
is impressive. The higher-grade areas of the deposit will be targeted for early mining where accessible
in the developing PFS mine plan. Hole CMV-010 illustrates that the deposit is still open to the northwest
and assays are pending for Hole CMV-011 that is further west. Hole CMV-010 and CMV-011 will allow
the western area to be reconsidered in the resource model. The opportunity to convert tonnes assumed
to be waste in the Preliminary Economic Assessment (the "PEA") to resources in the mine plan for the
PFS, and to target high grade areas are good opportunities to optimize the project."
The drilling results indicate that the limits and the center of the Vizcachitas Porphyry Copper deposit are
not yet known. A further 3,300 meters of sampled core are awaiting assay results at this time.
Milestones for the Company include further drilling assay results in the weeks ahead and completion of
the PFS in the fourth quarter of 2022. Vizcachitas represents one of the truly Tier One Copper Assets
with no major company holdings or offtake agreements.
Drilling Results Details
The details of Holes CMV-002, CMV-003, CMV-005, CMV-009 and CMV-010 are shown in the table
below.
Drill Hole
Interval (m)
Meters
Cu %
Mo ppm
Ag g/t
CuEq %*
CMV-002
42.3 -
664.85
622.55
0.07
27
0.2
0.08
CMV-003
42.3 - 698.0
655.70
0.09
11
N/A**
0.09
CMV-005
13.1 - 996.0
982.90
0.07
26
N/A**
0.08
CMV-009
93.2 -
480.35
387.15
0.53
62
1.5
0.56
Including
108 - 260
152.00
0.94
122
2.6
1.00
CMV-010
82 - 807.3
725.30
0.20
28
0.7
0.21
Including
430 - 807.3
377.30
0.28
36
1.0
0.31
* Copper Equivalent grade has been calculated using the following calculation: CuEq (%) = Cu (%) +
0.000333 x Mo (ppm) + 0.00826 x Ag (g/t), using the metal prices: 3.00 USD/lb Cu, 10.00 USD/lb Mo
and 17.00 USD/oz Ag. No allowance for metallurgical recoveries has been considered. These are the
same reference prices as in reporting of 2019 PEA. This means that the reported intercepts can be
compared directly with the results published in the PEA. Approximate relative value on the PEA pricing
is 93% Cu, 6% Mo and 1% silver.
** Assay results pending for silver.
All thicknesses from the drill hole intersections are down-hole drilled thicknesses. True widths will be
estimated as the deposit model is updated and information becomes available. Hole CMV-002 was
drilled in an open shallow exploration area north of the current resource model. The deep part of the
deposit in the north remains open. Holes CMV-003 and CMV-005 indicate that the shallow part of the
system does not extend northward from the current resource model. However deeper drilling in this area
has good mineralization and the depth potential to the north is still untested.
The Company is preparing to file detailed reports with the environmental court on the issues raised in the
recent court injunction to suspend drilling. The Company is confident that the drilling project can continue,
in accordance with its permits, with no significant effects to the environment and the Company welcomes
continued dialogue with all stakeholders in a climate of mutual respect.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the
Vizcachitas Project in Chile. Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
The Project is a copper-molybdenum porphyry deposit, located 120 kilometres north of Santiago, in an
area of very good infrastructure. The Company's Preliminary Economic Assessment (the "PEA"),
delivered in June 2019, highlights that the Project has a post tax NPV of $1.8 billion and an IRR of
20.77%, based on a $3 per pound copper price. It also has a Measured Resources of 254.4 million
tonnes having a grade of 0.439% copper and Indicated Resource of approximately 1.03 billion tonnes
having a grade of 0.385% copper. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Please refer to the technical report dated June 13, 2019, with an
effective date of May 10, 2019 and titled "Preliminary Economic Assessment of the Vizcachitas Project",
prepared by Tetra Tech.
The PEA is preliminary in nature, it includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations applied to them that would enable them to
be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Qualified Person ("QP") and Quality Control and Assurance
Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed
and approved the scientific and technical information contained in this news release. The QP has
validated the data by, supervising the sample collection process, through chain of custody records and
inspecting the detailed technical data and quality control and assurance information.
Los Andes Copper has a strict Quality Assurance and Quality Control (QA QC) protocol, which is
consistent with industry best practices. There is a strict chain of custody from the project site to
laboratory via the Company's core cutting facility. The QA QC protocol includes the insertion of field
duplicates, coarse duplicates, pulp duplicate, pulp and coarse blanks and Certified Reference Materials
supplied by Ore Research and Exploration, Australia.
The core was analysed 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 0.7 % Cu were
reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish. The Company uses a
program of detailed QA QC and monitors the performance of the laboratory.
For more information please contact:
R. Michael Jones, P.Eng CEO
+44 203 4407982
BlytheRay, Financial PR
Megan Ray
Rachael Brooks
Tel: +44 207 138 3203
E-Mail:
or visit our website at:
www.losandescopper.com
Follow us on twitter
@LosAndesCopper
Follow us on LinkedIn
Los Andes Copper Ltd
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. Such Forward Looking Information includes, without
limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects,
details related to and timing of the Vizcachitas Project. 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 parameters 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 Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/124144