Los Andes Announces Final Water Right Payment and Work Program Update
08 Febbraio 2011 - 11:15PM
Marketwired
Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX VENTURE:
LA)(PINK SHEETS: LSANF) is pleased to announce that it has made the
final payment under the agreement to purchase consumptive water
rights for 250 litres per second. These water rights are now held
by the Company free and clear of any encumbrance.
As announced in its press release of December 2, 2010, the
Company has made the final option payment in respect of certain
mineral claims in addition to the core San Jose claims, providing
the Company with 100% ownership of all mineral claims surrounding
the core of the Vizcachitas project. The consolidation of the San
Jose claims, announced by press release on December 21, 2010,
results in the entire resource comprising the Vizcachitas property
being under unified ownership for the first time in decades, and
allows the Company to take the steps necessary to advance the
project to development.
Management is currently finalizing the details of a work program
that will include additional drilling in the core San Jose claims,
completion of a scoping study and work required for the start of
the pre-feasibility stage in respect of Vizcachitas.
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. Dr. Roger Moss, PhD, P.Geo is
the qualified person who has reviewed this news release.
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.
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. Michael Kuta Corporate Secretary
604-697-6201 Los Andes Copper Ltd. Eduardo Covarrubias President
& CEO (56-99) 323-3156 info@losandescopper.com
www.losandescopper.com
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