Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to provide a corporate update.
Highlights
- UAV magnetic survey, carried out by MWH Geo-Surveys Ltd ("MWH") and processed by Geophysics Minerals LLC ("GeoM"), over identified prospective areas of the Company's property as well as over the Vizcachitas Project ("Vizcachitas" or the "Project").
- Successful launch of second Female Entrepreneurs program (the "Program") and renewal of the partnership to develop mining-related skills at local high schools and universities.
- Two community agreements signed to look at potential for environmental offset for the Vizcachitas Project.
MWH acquired magnetic data spanning the northern area of the Company's property and the Vizcachitas Project during the summer. The results have corroborated previous early-stage geological work carried out over the northern area of the property (5 kms north of the Vizcachitas Project) and provided more insight to the targets identified there. They also reiterated previous work which highlighted the potential extensions of the Vizcachitas Project towards the west and north-east, as reported in the pre-feasibility study and drilling announcements.
Securing and maintaining the social license to operate and enhancing community engagement continue to be a key focus for Los Andes. Notable achievements so far this year include a door-to-door outreach program that enabled us to connect personally with 1,930 residents in Putaendo County and the successful launch of the second iteration of our Female Entrepreneurs program. We had 318 applications for the Program, of which 41 women were invited to participate. We also renewed and expanded our partnership aimed at developing mining-related skills at local high schools and universities, in collaboration with key national organizations Fundacion Chile and CCM-Eleva. Furthermore, this year marked the signing of our first collaboration agreement with a local water association in the Putaendo Valley.
During October, Los Andes entered into agreements with two communities in Putaendo that own large parcels of land. The plan is to work together during the next 12 months, study the biodiversity properties of their land, and determine whether an environmental offset for the Vizcachitas Project is conceptually possible to be developed in these areas. This project is technically supported by the international consulting firm ERM, who will work with the communities to collaboratively understand preliminary biodiversity offset measures in line with their interests and expectations on the use of land.
Santiago Montt, CEO of Los Andes, commented: "The magnetic work carried out over the summer has provided us with valuable information on exploration targets in the north of the property, as well as on the extensions of the Project to the west and north-east. Work will now focus on the next steps for the non-explored areas of the property as we continue to highlight the potential upside over the wider licence area.
"We have made some notable achievements this year with our community outreach programs which remain a vital part of our work to advance the Project. We are very pleased with the response and look forward to continuing to work closely with the community to highlight the benefits Vizcachitas will bring. This includes the conceptual development of the environmental offset project that could benefit community properties which have remained underused as a consequence of drought and climate change."
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile's next major copper mine.
The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR profile.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Qualified Persons
Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.
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. Such Forward Looking Information includes, without limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects, details related to and timing of the Vizcachitas Project. 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.
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