VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/07/16 -- Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX VENTURE: LA)(OTC PINK: LSANF) is very pleased to announce the results of V2015-05 and the upper portion of V2015-08 of the first stage of the 2015-2016 diamond drill program. The lower portion of V2015-08 will be reported as it becomes available, as it was drilled approximately 2 weeks after the upper portion. For further information on drilling results please refer to the Company's news release dated February 26, 2016.
Cautionary Statement: All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.
Highlights from these two drill holes are:
-- All of V2015-08 deserves to be highlighted. From 130.0 metres to a depth
of 379.0 metres (the end of the sequence that has been assayed), a total
length of 249.0 metres, the average grade was 0.736 % Cu, 178 ppm Mo and
1.4 g/t Ag.
-- V2015-08 had a 54.0 metre intersection, from a depth of 130.0 metres to
184.0, metres, with an average grade of 1.023 % Cu, 128 ppm Mo and 1.4
g/t Ag.
-- V2015-05 had a 52.1 metre intersection, from a depth of 492.2 metres to
544.3 metres, with an average grade of 0.812 % Cu, 190 ppm Mo and 2.0
g/t Ag.
-- The results support the new geological model showing how the central
higher grade core extends over an area of at least 700 metres north-
south and 700 metres east-west.
Location of Drill Holes:
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Elevation Azimut Inclination Final depth
Hole Easting Northing (metres) (degrees) (degrees) (metres)
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V2015-05 366,182 6,413,275 2,050 290 -60 638.00
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V2015-08 366,159 6,413,538 2,150 290 -75 725.50
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All coordinates are in UTM WGS84
A drill hole location plan is available on our website: www.losandescopper.com
Summary of Drill Holes
Drill Hole V2015-05
This hole was drilled in the eastern part of the central core, 280 metres to the south-east of V2015-03. The purpose of this hole was to support the northern extension of the hydrothermal breccias identified in the re-logging of the historical drill holes to the south.
The top of bedrock was located at 36 metres with the drill hole intersecting a sequence of andesitic host rock, cut by dioritic porphyry and hydrothermal breccias. The leached zone extended to a depth of 72 metres before entering the supergene mineralisation. From 72.0 metres to a depth of 192.0 metres, a length of 120.0 metres, the average grade was 0.537% Cu, 169 ppm Mo and 1.4 g/t Ag.
The drill hole intersected a hydrothermal breccia from 492.2 metres to 544.3 metres, a total length of 52.1 metres, with an average grade of 0.812% Cu, 190 ppm Mo and 2.0 g/t Ag. This confirms the extension of the higher grade breccias from the south.
---------------------------------------------------------------------------- Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t ---------------------------------------------------------------------------- 72.0 638.0 566.0 0.425 216 1.2 ---------------------------------------------------------------------------- including ---------------------------------------------------------------------------- 72.0 192.0 120.0 0.537 169 1.4 ---------------------------------------------------------------------------- including ---------------------------------------------------------------------------- 492.2 544.3 52.1 0.812 190 2.0 ---------------------------------------------------------------------------- All thicknesses from intersections from drill holes are down-hole drilled thicknesses True widths cannot be determined from the information available.
Drill Hole V2015-08
This hole was drilled in the eastern part of the central core, 270 metres to the north of V2015-05. The aim of the hole was to show the depth extension of the mineralisation beneath the historical drill holes drilled in this area.
From a depth of 3.0 metres to a depth of 61.5 metres the hole intersected a post mineralisation dacitic dyke. The drill hole then entered the andesitic host rock that has been intruded by small tourmaline and hydrothermal breccias. The leached zone extended to 130.0 metres. From a depth of 130.0 metres to 184.0 metres, a total length of 54.0 metres, the average grade was 1.023% Cu, 128 ppm Mo and 1.4 g/t Ag. Also within a diorite intrusive, from 198.8 metres to 241.0 metres, a total length of 42.2 metres, the average grade was 0.905% Cu, 134 ppm Mo and 1.9 g/t Ag. These results clearly show the higher grade potential in the central core.
The overall assay results from a depth of 130.0 metres to a depth of 379.0 metres, the end of the sequence that has been assayed, had a total length of 249.0 metres with an average grade of 0.736% Cu, 178 ppm Mo and 1.4 g/t Ag.
The assay results from 379.0 metres to a depth of 725.50 metres are still pending and will be reported when available as this portion of the hole was drilled approximately 2 weeks after the upper portion.
---------------------------------------------------------------------------- Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t ---------------------------------------------------------------------------- 130.0 379.0 249.0 0.736 178 1.4 ---------------------------------------------------------------------------- including ---------------------------------------------------------------------------- 130.0 184.0 54.0 1.023 128 1.4 ---------------------------------------------------------------------------- including ---------------------------------------------------------------------------- 198.8 241.0 42.2 0.905 134 1.9 ---------------------------------------------------------------------------- All thicknesses from intersections from drill holes are down-hole drilled thicknesses True widths cannot be determined from the information available.
QA/QC
Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the preparatory laboratory of ALS Minerals in Coquimbo, Chile. All geochemical analyses were performed by ALS Minerals in Lima Peru. All samples were assayed using the method ME-MS61, a four-acid digestion with an ICP-MS finish. Copper samples with grades above 0.6% Cu were reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish.
Mr. Amberg is the Qualified Person and has prepared and approved the scientific and technical disclosure contained in this news release.
Team Credentials
Mr. Amberg is a geologist who is a graduate of the Royal School of Mines, London, has a MSc. from University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere. In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in project evaluation and NI 43-101 technical reports. Mr. Amberg's clients included Rio Tinto, Barrick, Codelco, Anglo American, Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist and is now also the President and Chief Executive Officer.
Mr. Amberg is a Qualified Person under NI 43-101.
Gonzalo Saldias is a geologist who is a graduate of Universidad Catolica del Norte, Chile. He has over 35 years of experience working within Chile and internationally; mainly on copper porphyry, epithermal gold silver and iron-oxide copper gold systems. For the last seven years, he worked for Antofagasta Minerals evaluating copper porphyry projects within Chile, assessing their geological and economical potential. Prior to that he had worked for ten years with Placer Dome Latin America, generating and evaluating exploration projects within the region. Prior to Placer Dome, he worked for Codelco as head of exploration geology for the El Salvador Division, developing the prospective areas near to the mine. He also worked for Northern Resources, Homestake, Utah, Anaconda and as an independent consultant.
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, 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.
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.
Contacts:
Los Andes Copper Ltd.
Antony J. Amberg
President & CEO
(56-22) 954-0450
Los Andes Copper Ltd.
Aurora Davidson
CFO
604-697-6207
info@losandescopper.com
www.losandescopper.com
