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Los Andes reinforces Vizcachitas project team

21st June 2019

By: Creamer Media Reporter

     

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TSX-V-listed Los Andes Copper has assembled a “highly experienced” team to take the Vizcachitas project, in Chile, to construction and, subsequently, production.

The senior management team consists of executive chairperson Fernando Porcile, Vizcachitas project director Manuel Matta, chief geologist Antony Amberg and corporate affairs and sustainability director Jose Letelie.

Amberg will also continue to perform functions as CEO.

“With the successful delivery of the updated preliminary economic assessment (PEA) that has further validated the scale and value of the project, the management team is focused on progressing Vizcachitas to a prefeasibility study (PFS) level and preparing the permitting packages for the project.

“We believe the team that we have in place holds all the aspects required, and the track record, to achieve our goals of advancing the project into production,” said Porcile.

The recently released PEA confirmed the copper/molybdenum deposit’s economic viability. The project considers an openpit mine and concentrator plant that produces a copper/molybdenum concentrate.

The PEA evaluated three cases and suggested the mill throughput of 110 000 t/d to advance into PFS stage. This case delivered an after-tax net present value of $1.8-billion, an internal rate of return of 20.77% and a payback period of 3.4 years.

The project boasts C1 cash costs of $1.36/lb for the first eight years of operation, which the company says should put it among the second quartile of copper producers.

Vizchachitas had a measured and indicated resource of 1.284-billion tonnes at a copper equivalent grade of 0.45%, and production of 110 000 t/d will only see half of the resource depleted by the end of the mine life.

Los Andes aims to complete the PFS for Vizchachitas in the fourth quarter.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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