RE: News due!11 Jan 2022 12:18
However, I was surprised to learn that Los Andes Copper has a substantial mineral resource already drilled out, at their Vizcachitas project in Chile. 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 of copper-equivalent metal. For those who prefer metric terms, this is 5.8 million tonnes of copper-equivalent metal.
This is a considerable amount of metal, made all the more interesting since according to their 2019 technical report, there is ‘continuous mineralisation occurring near the surface’ and so can be mined by open-pit and ‘the project is in close proximity to extensive infrastructure, including port facilities, railway lines, and high-tension substations.’ In addition, the company’s market capitalisation is only C$315 million (£185 million). An ideal target for a major mining company looking for copper acquisitions. After all, there aren’t that many junior mining companies with this much inventory already.