Vancouver, BC – Los Andes Copper Ltd. (“Los Andes” or the “Company”, TSX Venture Exchange: LA) is pleased to announce that it has received the final results for the copper recoveries and concentrate grades as part of the ongoing Pre-Feasibility Study (“PFS”) at the Vizcachitas Project in Chile (“Vizcachitas” or the “Project”). These results confirm a copper recovery of 91.4% and the production of a high-quality clean copper concentrate.
Over the past nine months, as part of the PFS metallurgical studies, the Company implemented a comprehensive bench scale testwork program at SGS Minerals facilities in Santiago, Chile. Samples were selected to best represent the composition of the geological features that would be mined over the first 12 years of the mine plan, the period where the most complex mineralogy and alteration is found, and thus presents the toughest conditions for the flotation circuit.
Fernando Porcile, Executive Chairman of Los Andes, commented:
“I am very pleased that the recent comprehensive testwork has confirmed that Vizcachitas will produce a clean and high-quality copper concentrate. This testwork validates the flotation performance when the operating parameters are applied to the more complex areas of the mine.
“These results are encouraging and give us confidence as we continue to progress the development of the Project, focusing on delivering a sustainable mining, including a reduction in both its water and energy consumption.”
The 2019 Preliminary Economic Assessment (“PEA”) assumed an overall life of mine copper recovery of 91.0%. The PFS testwork results confirmed these assumptions on the metallurgical performance with samples representing the most challenging mineralogy identified within the mine plan.
The testwork focused on both, rougher and cleaner flotation stages including different reagent formulas, open cycle testing with different regrinding sizes and pulp pH, and a complete locked cycle testing to produce the final copper concentrate.
The metallurgical testwork showed that the Vizcachitas projected copper recovery for the first 12 years of operation is 91.4% with a final concentrate grade of 24.5% copper. The testwork also shows that, in this period, Vizcachitas produces a clean copper concentrate with no market penalties.
Antony Amberg CGeol FGS, the Company’s President and CEO and Magin Torres, the Company’s Senior Metallurgist who is a Qualified Person in Extractive Metallurgy under the Chilean Mining Commission, QP Registration No. 0409, are the qualified persons under N.I. 43-101 who have reviewed and approved the scientific and technical information contained in this news release.
For more information please contact:
Fernando Porcile, Executive Chairman
Tel: +56 2 2954-0450
Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450
Blytheweigh, Financial PR
Tel: +44 207 138 3203
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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; including, without limitation, Spinnaker’s ability to raise capital, target and attract institutional and retail investors and focus on developing and expanding the network of investors, analysts and financial intermediaries who are interested in Los Andes. 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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