Vizcachitas is a globally significant copper-molybdenum porphyry, with 1.54 billion tonnes of Measured and Indicated Resources, 1.8 billion tonnes of Inferred Resources and 1.2 billion tonnes of Mineral Reserves. The Project has the potential to support a long-life, low-cost operation.
Pre Feasibility Highlights:
A globally significant mineral resource with an extensive mine life backed by robust economics:
- Maiden reserves 1.2 billion tonnes at 0.41% copper equivalent
- Measured & Indicated Resource 1.54 billion tonnes at 0.44% copper equivalent
- Inferred Resource 1.8 billion tonnes at 0.38% copper equivalent
- Average annual copper production of over 183,000 tonnes for the first eight years and over 152,000 tonnes for the life of mine (26 years)
- Head grade 0.52% copper equivalent for the first eight years
- First quartile C1 cash costs of US$0.93/lb for the first eight years and US$1.25/lb for the life of mine
- Post-tax NPV8 is US$2.8 billion and the IRR is 24% at US$3.68/lb copper
- Post-tax NPV8 is US$5.48 billion and the IRR is 37% at US$5.00/lb copper
- Initial capex is US$2.4 billion with a payback of 2.5 years (at US$3.68/lb copper)
- Attractive capital intensity of $13,300/tonne per annum of copper
- Metallurgical test work indicates high recoveries of a clean concentrate
Location & Infrastructure
Strategically located in central Chile, 120km north of Santiago at low elevation the project is surrounded by four of the worlds’ largest copper mines, El Teniente (108 billion pounds contained copper) Rio Blanco (101 billion pounds contained copper), Los Pelambres (54 billion pounds contained copper) and Los Bronces (25 billion pounds contained copper).
Vizcachitas benefits from access to existing infrastructure including transport, power and desalinated water as well as year-round working conditions. As a well-established mining area it also benefits from access to skilled labour.
Qualified Person Statement
Vizcachitas Los Andes Copper activities are under the supervision of Mr. Amberg, CGeol FGS, Chief Geologist of Los Andes Copper Ltd. Mr. Amberg is a “qualified person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Amberg has approved the technical information in this presentation. For additional information regarding the Vizcachitas Project, see the technical report titled “Preliminary Economic Assessment of the Vizcachitas Project.”, with an effective date of May 10, 2019 prepared by Tetra Tech Chile S.A. (the “2019 PEA”), a copy of which is available on SEDAR at www.sedar.com under “Los Andes Copper Ltd.”.
Copper Equivalent grade for the PFS has been calculated using the following calculation: CuEq (%) = Cu (%) + 0.000288 x Mo (ppm) + 0.00718 x Ag (g/t).
