TSXV listed Los Andes Copper Ltd. [TSXV: LA, OTCQX: LSANF] has reported that the Second Environmental Court in Chile has revised its preliminary injunction, issued in March, that suspended drilling at the Vizcachitas Copper Project. The Court has decided that drilling can continue, with certain restrictions at the Project under the Company’s environmental license.
Following the injunction, the Company prepared and filed with the Environmental Court several scientific reports, technical studies and legal opinions showing that the drilling program is compatible with the protection of the Andean Cat and the overall environment.
The Court decision authorized the Company to continue drilling at the Vizcachitas project, with certain operational conditions, including a restricted drilling plan for the first 12 months, proposed by the Company. This plan will allow Los Andes Copper to pursue its original program of illuminating and defining extensions of the mineralized body which still remains open.
Los Andes reiterates its full commitment to complying with all its environmental obligations and continues to engage with all interested parties in a climate of mutual respect.
The Company will continue to expand its previous successful drill program while pursuing the larger goal of completing a Prefeasibility Study in Q4 2022.
About Los Andes Copper
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Armchair Trader’s Roger Brauer, noticed the junior miner on appointment of R. Michael Jones as CEO, Los Andes Copper are in the heart of the Chilean copper belt, and the company is surrounded by mining majors. BHP and Rio Tinto are amongst the companies looking for copper in the Andes.
The copper miner has a substantial mineral resource already drilled out, at their Vizcachitas project. The Measured and Indicated category of their Resource Statement shows 1.3 billion tonnes of ore at a copper-equivalent grade of 0.45%, containing 12.8 billion lbs or 5.8 million tonnes of copper-equivalent metal. This is a considerable amount of metal, aided further by the ‘continuous mineralisation occurring near the surface’ which can be mined by open-pit . The project is close to extensive infrastructure, including port facilities, railway lines, and high-tension substations.’
Los Andes Copper’s market capitalisation is just C$385 million (£250 million), making it an ideal target for a major mining company looking for copper acquisitions.