LOS ANDES COPPER ANNOUNCES FINAL DRILLING RESULTS FROM THE 2008 PROGRAM AT VIZCACHITAS
February 5, 2009
Vancouver, BC – Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX Venture Exchange: LA) announces results from the last eight holes of the 2008 drilling program at the Vizcachitas Project in Chile.
Highlights of the results include Hole LAV-138 that intersected 0.40% Cu and 0.010% Mo (0.47% Cu eq.(1)) over 145.15 metres, including 0.55% Cu and 0.012% Mo (0.63% Cu eq.(1)) over 26 metres and Hole LAV-139 that intersected 0.45% Cu and 0.018% Mo (0.57% Cu eq.(1)) over 62 metres, including 0.53% Cu and 0.011% Mo (0.60 Cu eq. (1)) over 12 metres.
A summary of results from the eight holes is given in the table below. Drill hole location maps and sections can be viewed at the Los Andes website www.losandescopper.com.
(1) 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%).
Holes LAV-134A, LAV-136 and LAV-137 were drilled on Section 700NE, along the southernmost extent of mineralization identified to date. LAV-134A and LAV-136 intersected variably altered andesite and diorite porphyry containing weak mineralization. LAV-137 intersected porphyritic andesite with two intervals of sulphide breccias. Near surface copper values are associated with the presence of chalcocite.
Hole LAV-135A was drilled on Section 1200NE and intersected mainly alternating granodiorite and tonalite containing weak to moderate chalcocite in the uppermost 170 metres.
LAV-138 was drilled on Section 1300NE and intersected alternating granodiorite, tonalite and andesite. The presence of chalcocite contributed to the interval intersected between 100 and 126 metres that graded 0.55% Cu and 0.012% Mo (0.63% Cu eq.(1)).
LAV-139 was drilled on Section 900NE and intersected mixed andesite, granodiorite and tonalite. The presence of bornite between 210 and 222 meters gave rise to the intersection grading 0.53% Cu and 0.011% Mo (0.60% Cu eq.(1)).
LAV-140 was drilled on Section 800NE and intersected alternating andesite and tonalite containing variable chalcopyrite and pyrite.
LAV-141 was drilled on Section 1000NE and intersected brecciated and porphyritic andesite cross-cut by dacite dykes. The interval grading 0.44% Cu between 100 and 140 meters contains bornite, in addition to chalcocite, chalcopyrite and pyrite.
LAV-142 was drilled on Section 600NE and represents the southernmost hole drilled at Vizcachitas. While the hole did not return significant copper values, the presence of moderate biotite-magnetite and quartz-sericite alteration in the andesite, together with the presence of pyrite throughout the hole, indicates that the Vizcachitas hydrothermal system continues this far south.
Results of the 2007-2008 drilling program contributed to an increase in resources at Vizcachitas which was announced in July 2008 (see news release dated July 16, 2008). The current NI 43-101 compliant resource includes indicated resources of 515 million tonnes (“MT”) grading 0.39% CuT and 0.011% Mo (0.46% Cu eq. (1)) containing 4.43 billion pounds (“lbs”) copper and 125 million lbs molybdenum, and Inferred Resources of 572 MT grading 0.34% CuT and 0.012% Mo (0.41% Cu eq. (1)) containing 4.29 billion lbs copper and 151 million lbs molybdenum at a cutoff of 0.3% Cu eq. (1). This estimate does not include 5,177.5 metres of drilling in 19 holes completed subsequent to the cutoff date for the resource calculation.
As previously announced, Los Andes has suspended drilling operations at the Vizcachitas project in order to preserve capital. The project will be advanced by lower cost metallurgical, environmental and geotechnical studies for the duration of the global financial crisis.
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 giant copper-molybdenum porphyries Rio Blanco-Los Bronces, Los Pelambres and El Teniente. Based on 35,255 metres of drilling in 130 diamond drill holes, the project contains an indicated resource of 515 million tonnes grading 0.39% copper and 0.011% molybdenum and an inferred resource of 572 million tonnes grading 0.34% copper and 0.012% molybdenum at a 0.30% copper equivalent cutoff. Additional information about the Vizcachitas Project is available in the National Instrument 43-101 Technical Report prepared by AMEC and filed by the Company on SEDAR on August 29 2008, and on our website at www.losandescopper.com.
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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 adequacy or accuracy of this release.
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