Los Andes's Progress in Vizcachitas Copper-Molybdenum Porphyry Project

Los Andes Copper Ltd. (Los Andes) is pleased to announce that as a part of the ongoing Pre-Feasibility Study (PFS) at the Vizcachitas copper-molybdenum porphyry deposit project in Chile, it has received improved flotation rougher recoveries resulting from further metallurgical test work. Through optimizing the rougher flotation conditions, the company will be able to increase copper and molybdenum recoveries.

Los Andes Copper Ltd. is a development company with a 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 a copper-molybdenum porphyry deposit, located 120 km north of Santiago, in an area of good infrastructure. The project has a measured resource of 254.4 million tonnes at a grade of 0.439% copper and an indicated resource of approximately 1.03 billion tonnes at a grade of 0.385% copper.

As part of the initial test work for the PFS, in 2019, a sample from previous test work that represents the upper zone of the orebody was sent to SGS minerals facilities for a rougher flotation assessment. The results of this assessment show that copper and molybdenum rougher recoveries, as compared to the 2019 Preliminary Economic Assessment (PEA) formula, were improved by 3% and 6% respectively.

The ongoing 2020 PFS metallurgical test work confirms these improvements. The PEA and PFS flotation formulas were used to test new composite samples from the first 12 years of the mining plan. Compared with the PEA formula, the copper roughing recovery rate of the PFS formula is increased, and the roughing rate of molybdenum is increased by 7.8%.

Fernando Porcile, Executive Chairman of Los Andes, commented: "I am pleased that the improved formula results from the current PFS testwork further enhance the project economics of an already robust project. The ongoing Pre-Feasibility Study for the Vizcachitas Project has confirmed the use of HPGR technology and validated the use of dry-stacked tailings. These technologies put the Project at the forefront of the environmentally responsible practices being adopted for the future of sustainable mining globally."

The company is currently advancing the pre-feasibility study of the project. By forming an experienced management team, the project is integrating various changes to position itself at the forefront of global mining environment trends. Converting to dry-stacked filtered tailings will greatly reduce water consumption and abandon the use of tailings dams, thereby reducing the project's footprint, environmental impact and earthquake risk.

Besides, there is significant exploration upside at the Vizcachitas copper-molybdenum porphyry project of Los Andes with the potential to increase the resource base beyond the initial 45-year mine life modelled in the PEA. Part of this upside has been further delineated in the geological mapping and geophysics work program completed during the 2020 Chilean winter season.

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