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Los Andes Copper Ltd. is a Canadian exploration and development company focused on the exploration and development of the advanced stage Vizcachitas copper –molybdenum porphyry deposit in Central Chile.

summerThe deposit occurs in the same geological belt as several giant copper-molybdenum porphyry deposits including Río Blanco-Los Bronces (101 million tonnes contained copper), Los Pelambres-Pachon (46 million tonnes contained copper) and El Teniente (128 million tonnes contained copper)1.

The Vizcachitas Property covers a porphyry copper-molybdenum system with alteration delineated over 3.0 km in a north-south direction and 1.5 km in an east-west direction. Within this altered zone is an area of strongly-leached capping, copper oxide and sulfide and molybdenum mineralization covering an area measuring approximately 2 km in a north-south direction and 1 km in an east-west direction.

summerThe property contains a NI 43-101 compliant indicated resource of 1,038 million tonnes grading 0.434 % Cu Eq, (0.37% Cu and 0.012% Mo) containing an estimated 8.5 billion pounds of copper and 281 million pounds of molybdenum , and an inferred sulphide resource of 318 million tonnes grading 0.405 % Cu Eq (0.345% Cu and 0.013% Mo) at a 0.3% CuEq. cut-off2 containing an estimated 2.4 billion pounds of copper and 88 million pounds of molybdenum. The resource estimate was based on a total of 146 drill holes and 40,383 metres drilled, including a total of 16 drill holes and 5,128 metres of drilling completed after the June 9, 2008 resource estimate.

In February 2014 Coffey Mining and Alquimia Conceptos S.A. updated the NI 43-101 compliant preliminary economic assessment (PEA) on the Vizcachitas project. The PEA evaluated four mining scenarios feeding flotation facilities with a throughput of 44 ktpd, 88 ktpd, 176 ktpd and 88 ktpd with a step up in production to a final throughput of 176 ktpd. The 176 ktpd case was selected to be the base case as it produced the highest net present values (NPV).

The base case has a life of mine of 28 years, initial capital expenditures of $2.9 billion, sustaining capital expenditure of $0.7 billion and considered flat projected copper prices of $2.75/lb and molybdenum prices of $13.64/lb.

On a pre-tax basis, the base case, results in an NPV of $746 million, internal rate of return (IRR) of 11.4%, and an estimated payback period from initial commercial operations (Payback Period) of 5.9 years. On an unlevered after-tax basis, results in an NPV of $274 million, IRR of 9.5%, and a Payback Period of 6.0 years.

Note: The Preliminary Economic Assessment is considered preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Preliminary Economic Assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Footnote

1 Singer, D.A., Berger, V.I., and Moring, B.C., 2008, Porphyry copper deposits of the world—Database and grade and tonnage models, 2008: U.S. Geological Survey OpenFile Report 2008–1155, 45 p., http://pubs.usgs.gov/of/2008/1155/
2 Copper equivalent grade (Cu Eq) has been calculated using the following expression: Cu Eq (%) = CuT (%) + 4.95 x Mo (%), where 4.95 reflects the Mo/Cu price ratio

 
 
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