LOS ANDES COPPER INTERSECTS 138 METRES GRADING 0.71% CU EQUIVALENT WITHIN 653.2 METRES GRADING 0.43% CU EQUIVALENT
June 12, 2008
Vancouver, BC – Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX Venture Exchange: LA) announces results from the latest four holes of the phase II drilling program currently underway at the Vizcachitas Project in Chile.
Highlights of the results include Hole LAV-124 that intersected 0.34% Cu and 0.014% Mo (0.43% Cu eq.*) over 653.2 metres, including an 88 metre intersection grading 0.65% Cu and 0.016% Mo (0.76% Cu eq.*), Hole LAV-123 that intersected 0.49% Cu and 0.01 % Mo (0.56% Cu eq.*) over 234 metres including 0.60% Cu over 38 metres and LAV-120 that intersected 0.44% Cu and 0.013% Mo (0.53% Cu eq.*) over 183 metres including 0.69% Cu and 0.01% Mo (0.76% Cu eq.*) over 16 metres.
LAV-120 and 124 were drilled on section 1000NE on the east side of the Rocin River. The highest grade mineralization in these holes occurs in biotite–magnetite altered breccia and porphyritic andesite containing chalcopyrite and minor chalcocite. These two holes also include higher than normal molybdenum values. LAV-120 intersected 0.027% Mo over 42 metres, and LAV-124 intersected 0.03% Mo over 126 metres including 74 metres grading 0.038% Mo.
LAV-123 was drilled on section 1100NE approximately 100 metres north of Hole LAV-120. A higher grade near surface interval occurs in biotite-magnetite altered porphyritic andesite containing chalcocite, covellite and traces of native copper in addition to chalcopyrite. This hole was stopped at 270 metres, despite grading 0.73% Cu over the last 12 metres, because of very high water pressure in the hole. The depth extent of this higher grade interval will be tested in a future hole.
Higher grade intervals in Holes LAV-120, 123 and 124 are consistent with higher grades intersected in other holes in this area, including: previously announced intervals of 90 metres grading 0.60% Cu and 0.013% Mo (0.69% Cu eq.*) in Hole LAV-81, 68 metres grading 0.50% Cu and 0.026% Mo (0.67% Cu eq.*) in LAV-109 and intervals from historical holes of 111.75 metres grading 0.64% Cu and 0.012% Mo (0.72% Cu eq.*) in V-32 and 55.06 metres grading 0.60% Cu and 0.012%Mo (0.68% Cu eq.*) in hole V-47.
LAV-122 was drilled on section 800NE on the west side of the Rocin River. Copper mineralization consisting of chalcopyrite and chalcocite with traces of bornite, is associated with weakly altered porphyritic andesite.
A summary of results from the four holes is given in the table below. Drill hole location maps and sections can be viewed at the Los Andes website www.losandescopper.com.
(*Copper equivalent is calculated for Mo values greater than 0.01% using US$1.50/lb Cu and US$10.00/lb Mo according to the formula Cu eq% =Cu% + (Mo% x 10.00/1.50) and is not adjusted for metallurgical recoveries or net smelter return which remain uncertain and are assumed to be 100%).
Based on drilling to date, the Vizcachitas mineralization remains open to the south, east and at depth and drilling continues in order to define the limits of the mineralization. An updated resource calculation is currently underway, and a scoping study/initial economic assessment will begin in mid June, with results anticipated in September.
Roger Moss, Ph.D., P.Geo, is the qualified person as defined by National Instrument 43-101 for the Vizcachitas Project. Logging, sampling and splitting of the drill core is conducted at the Vizcachitas site by independent consultants Geologica LTDA. under the direct supervision of geologist Ramon Fam. Samples are securely transported by Geologica staff to the SGS Laboratory in Santiago Chile and analyzed for copper and molybdenum by atomic absorption following a three acid digestion. Dr. Moss and Mr. Fam have visited the laboratory and are satisfied that the sample preparation and analytical procedure is consistent with standard industry practice. Los Andes routinely inserts standards, duplicates and blanks into the sample stream and sends 5% of sample rejects to Actlabs for check analysis.
The Vizcachitas Project offers potential for a low strip, open pit operation in an area of low elevation with excellent infrastructure, including water and power in central Chile. The Vizcachitas deposit occurs in the same metallogenic belt as the large copper-molybdenum porphyries Rio Blanco-Los Bronces, Los Pelambres-El Pachon and El Teniente. Based on 68 drill holes previously completed by General Minerals Corporation and Placer Dome, the project contains an indicated resource of 232 million tonnes grading 0.46% copper and 0.014% molybdenum and an inferred resource of 619 million tonnes grading 0.38% copper and 0.013% molybdenum at a 0.30% copper cutoff as detailed in the NI43-101 compliant technical report of A.C.A. Howe International Limited dated February 7, 2007. The technical report, as well as additional information about the Vizcachitas Project is available on our website at www.losandescopper.com.
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the
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