Los Andes Copper Ltd (TSX-V:LA) has released a corporate outlook for 2022, saying it looks forward to a “steady stream” of drill results from the ongoing drilling campaign at its Vizcachitas copper project in Chile.
The company said a key objective of the current drilling is to explore areas that are within the planned open pit from the preliminary economic assessment that for historical reasons were not drilled.
Los Andes noted it intends to advance the Vizcachitas project to a pre-feasibility study with an updated resource and mine plan.
READ: Los Andes Copper kicks off additional drilling at its Vizcachitas project in Chile
The company, however, also said it has moved the target for the pre-feasibility study to the end of the second calendar quarter as a result of likely changes to the resource and the mine plan from the ongoing drilling results.
It added that the drill program, currently in progress, will also be used to demonstrate the potential of copper mineralization below the likely initial pit depths with some deeper holes.
The company also reported that as a result of increased engagement with the capital markets, it is seeing increased share trading and activity on its website, and looks for this activity to continue as it announces its drilling results and technical work.
As well, Los Andes Copper announced that its fiscal 2021 loss improved to C$0.06 per share, from $0.07 in 2020, even as the company’s general and administrative expenses rose to C$1.6 million from $1.3 million due to increased activity.
Los Andes Copper's Vizcachitas property was the subject of a preliminary economic assessment (PEA), delivered in June 2019, which showed a post-tax net present value (NPV) of US$1.8 billion and an internal rate of return (IRR) of 20.77%, based on a US$3 per pound copper price. The project has a measured resource of 254.4 million tonnes at a grade of 0.439% copper and an Indicated resource of about 1.03 billion tonnes at a grade of 0.385% copper.
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