Los Andes Copper Announces Final Drilling Results From the 2008 Program at Vizcachitas
05 Febrero 2009 - 8:17AM
Marketwired
Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX VENTURE:
LA)(PINK SHEETS: LSANF) announces results from the last eight holes
of the 2008 drilling program at the Vizcachitas Project in Chile.
Highlights of the results include Hole LAV-138 that intersected
0.40% Cu and 0.010% Mo (0.47% Cu eq.(1)) over 145.15 metres,
including 0.55% Cu and 0.012% Mo (0.63% Cu eq.(1)) over 26 metres
and Hole LAV-139 that intersected 0.45% Cu and 0.018% Mo (0.57% Cu
eq.(1)) over 62 metres, including 0.53% Cu and 0.011% Mo (0.60 Cu
eq. (1)) over 12 metres.
A summary of results from the eight holes is given in the table
below. Drill hole location maps and sections can be viewed at the
Los Andes website www.losandescopper.com.
Total
Depth Incli- From To interval CuT Mo Cu eq
Hole ID (m) nation Azimuth (m) (m) (m) (%) (%) %(1)
------------------------------------------------------------------------
LAV-134A 250 -70 290 nsv
LAV-135A 249 -75 290 28.7 249 220.3 0.27 0.006 na
including 28.7 108 79.3 0.36 0.004 na
including 28.7 72 43.3 0.40 0.004 na
LAV-136 200 -70 290 nsv
LAV-137 250 -70 290 9 250 241 0.18 0.002 na
including 9 28 19 0.40 0.001 na
LAV-138 352 -70 290 75.85 352 273.15 0.33 0.011 0.40
including 78.85 224 145.15 0.40 0.010 0.47
including 100 126 26 0.55 0.012 0.63
LAV-139 351 -80 285 68 351 283 0.28 0.018 0.40
including 210 351 141 0.37 0.018 0.49
including 210 272 62 0.45 0.018 0.57
including 210 222 12 0.53 0.011 0.60
and 332 351 19 0.41 0.028 0.60
LAV-140 401.6 -70 285 23 401.6 378.6 0.32 0.004 na
including 40 100 60 0.38 0.005 na
and 222 294 72 0.46 0.006 na
including 222 270 48 0.50 0.006 na
and 334 352 18 0.40 0.004 na
LAV-141 435 -65 285 31.2 435 403.8 0.30 0.007 na
including 34 140 106 0.36 0.011 0.43
including 100 140 40 0.44 0.008 na
and 198 272 74 0.38 0.009 na
and 348 424 76 0.35 0.002 na
LAV-142 218 -70 285 nsv
------------------------------------------------------------------------
((1) Copper equivalent is calculated for Mo values greater than
0.01% using US$1.50/lb Cu and US$10.00/lb Mo according to the formula
Cu eq% equals Cu% + (Mo% x 10.00/1.50) and is not adjusted for
Metallurgical recoveries or net smelter return which remain uncertain
and are assumed to be 100%).
Holes LAV-134A, LAV-136 and LAV-137 were drilled on Section
700NE, along the southernmost extent of mineralization identified
to date. LAV-134A and LAV-136 intersected variably altered andesite
and diorite porphyry containing weak mineralization. LAV-137
intersected porphyritic andesite with two intervals of sulphide
breccias. Near surface copper values are associated with the
presence of chalcocite.
Hole LAV-135A was drilled on Section 1200NE and intersected
mainly alternating granodiorite and tonalite containing weak to
moderate chalcocite in the uppermost 170 metres.
LAV-138 was drilled on Section 1300NE and intersected
alternating granodiorite, tonalite and andesite. The presence of
chalcocite contributed to the interval intersected between 100 and
126 metres that graded 0.55% Cu and 0.012% Mo (0.63% Cu
eq.(1)).
LAV-139 was drilled on Section 900NE and intersected mixed
andesite, granodiorite and tonalite. The presence of bornite
between 210 and 222 meters gave rise to the intersection grading
0.53% Cu and 0.011% Mo (0.60% Cu eq.(1)).
LAV-140 was drilled on Section 800NE and intersected alternating
andesite and tonalite containing variable chalcopyrite and
pyrite.
LAV-141 was drilled on Section 1000NE and intersected brecciated
and porphyritic andesite cross-cut by dacite dykes. The interval
grading 0.44% Cu between 100 and 140 meters contains bornite, in
addition to chalcocite, chalcopyrite and pyrite.
LAV-142 was drilled on Section 600NE and represents the
southernmost hole drilled at Vizcachitas. While the hole did not
return significant copper values, the presence of moderate
biotite-magnetite and quartz-sericite alteration in the andesite,
together with the presence of pyrite throughout the hole, indicates
that the Vizcachitas hydrothermal system continues this far
south.
Results of the 2007-2008 drilling program contributed to an
increase in resources at Vizcachitas which was announced in July
2008 (see news release dated July 16, 2008). The current NI 43-101
compliant resource includes indicated resources of 515 million
tonnes ("MT") grading 0.39% CuT and 0.011% Mo (0.46% Cu eq. (1))
containing 4.43 billion pounds ("lbs") copper and 125 million lbs
molybdenum, and Inferred Resources of 572 MT grading 0.34% CuT and
0.012% Mo (0.41% Cu eq. (1)) containing 4.29 billion lbs copper and
151 million lbs molybdenum at a cutoff of 0.3% Cu eq. (1). This
estimate does not include 5,177.5 metres of drilling in 19 holes
completed subsequent to the cutoff date for the resource
calculation.
As previously announced, Los Andes has suspended drilling
operations at the Vizcachitas project in order to preserve capital.
The project will be advanced by lower cost metallurgical,
environmental and geotechnical studies for the duration of the
global financial crisis.
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.
About Vizcachitas
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.
Additional information about the Vizcachitas Project is available
in the National Instrument 43-101 Technical Report prepared by AMEC
and filed by the Company on SEDAR on August 29 2008, and on our
website at www.losandescopper.com.
This document contains certain forward looking statements which
involve known and unknown risks, delays and uncertainties not under
the Company's control which may cause actual results, performance
or achievements of the Company to be materially different from the
results, performance or expectation implied by these forward
looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Los Andes Copper Ltd. Michael Kuta Corporate Secretary
(604) 697-6201 Los Andes Copper Ltd. Roger Moss President (416)
516-6050 Email: info@losandescopper.com Website:
www.losandescopper.com
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