LOS ANDES ANNOUNCES FINAL WATER RIGHT PAYMENT AND WORK PROGRAM UPDATE
February 8, 2011
Vancouver, BC – Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX Venture Exchange: LA) is pleased to announce that it has made the final payment under the agreement to purchase consumptive water rights for 250 litres per second. These water rights are now held by the Company free and clear of any encumbrance.
As announced in its press release of December 2, 2010, the Company has made the final option payment in respect of certain mineral claims in addition to the core San Jose claims, providing the Company with 100% ownership of all mineral claims surrounding the core of the Vizcachitas project. The consolidation of the San Jose claims, announced by press release on December 21, 2010, results in the entire resource comprising the Vizcachitas property being under unified ownership for the first time in decades, and allows the Company to take the steps necessary to advance the project to development.
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. Dr. Roger Moss, PhD, P.Geo is the qualified person who has reviewed this news release.
For more information please contact:
Michael Kuta, Corporate Secretary Tel: 604-697-6201 or
Eduardo Covarrubias, President & CEO Tel: (56-99) 323-3156
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.
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
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