Vancouver, BC – Los Andes Copper Ltd. (“Los Andes”, or the “Company”, TSX Venture Exchange: LA) is pleased to announce that the Company has initiated the work program, including a drilling campaign, for its 100% owned Vizcachitas porphyry copper-molybdenum project located in Region V, Chile.
Work Program - Drilling Campaign
The drilling camping is expected to include approximately 10,000 metres of diamond drilling, in the higher grade central core of the deposit. The objectives of the drilling program are:
- Test extensions of new geological model
- Delineate early diorite porphyry and hydrothermal breccias
- Deeper drilling in high grade area
- Converting of inferred resource to indicated
- Drilling extensions within PEA pit area
- Drill testing extensions to mineralization within 1km of current deposit
- Evaluating silver content and distribution
- Provide samples for metallurgical testing
Work Program – Additional Activities
In addition to the drilling campaign, the work program includes:
- Reprocessing historical pulp samples to create silver model and revise molybdenum grades
- Mapping of alterations north of current mineralized area
- Updating resource model
- Preparing optimized PEA
We expect the drilling campaign to last 3-4 months, with the final assay results being completed during the third quarter of 2017. The remainder of the work program is expected to be completed by the end of 2017.
The Vizcachitas Project offers potential for a low strip, open pit operation in an area of low elevation with excellent infrastructure in central Chile. On February 18, 2014, the Company filed a National Instrument 43-101 Preliminary Economic Assessment prepared by Coffey Consultoria y Servicios SpA (Coffey) and Alquimia Conceptos S.A. (PEA). Based on 40,383 metres of drilling at the time, using a 0.30% copper equivalent cut-off, the project contains an indicated resource of 1,038 million tonnes grading 0.434% copper equivalent and an inferred resource of 318 million tonnes grading 0.405% copper equivalent. Using a 0.40% copper equivalent cut-off, the project contains an indicated resource of 566 million tonnes grading 0.501% copper equivalent and an inferred resource of 130 million tonnes grading 0.488% copper equivalent
Mr. Antony Amberg is the Qualified Person who has read and approved the technical disclosure in this news release.
Additional information about the Vizcachitas Project is available on our website at www.losandescopper.com
For more information please contact:
|Antony J. Amberg, President & CEO||Tel: (56-22) 954-0450|
|Aurora Davidson, CFO||Tel: 604-697-6207|
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) 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 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.
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