Los Andes Copper Announces Latest Drilling Results

Los Andes Copper Announces Latest Drilling Results

Los Andes Copper Ltd. announces results from the latest four holes of the drilling program at the Vizcachitas Project in Chile.

Highlights of the results include Hole LAV-121A that intersected 0.53% Cu and 0.011% Mo (0.61% Cu eq(i)) over 86 metres, including 0.60% Cu and 0.007% Mo over 42 metres.

A summary of results from the four holes is given in the table below. Drill hole location maps and sections can be viewed at the Los Andes website www.losandescopper.com.

Hole LAV-121A was drilled on Section 1400NE between historical drillholes V-15A and V-19. The hole intersected 0.53% Cu and 0.011% Mo in altered andesite with pyrite-chalcopyrite dominant mineralization and locally disseminated molybdenite.

Hole LAV-132A is located approximately 100m to the southwest of LAV-121A and intersected weakly altered diorite and granodiorite containing weak copper mineralization.

Hole LAV-130 was drilled on Section 1000NE near the western limit of known mineralization. Near surface mineralization grading 0.41% Cu over 29 metres occurs in biotite-magnetite altered andesite. The remainder of the hole intersected altered andesite containing pyrite-chalcopyrite mineralization in veinlets.

Hole LAV-133 was collared on Section 700NE at the southern edge of the known mineralization. The hole intersected altered and weakly mineralized andesite with anomalous copper values and grades up to 0.67% Cu and 0.034% Mo over 4 metres in local sulphide veinlets.

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.

In order to optimize the use of the Company’s cash resources, Los Andes has made the decision to suspend drilling operations at the Vizcachitas project and will now focus on lower cost metallurgical testing, geotechnical test work, an environmental baseline study and the completion of the scoping study.

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.

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