Andina Copper Corporation (TSX-V: ANDC | FSE: FIR | OTCQB: PMMCF) has announced further outstanding drill intercepts from its Cobrasco Project in Choco, Colombia. Drillhole CDH009, drilled from the same pad as previous holes, confirmed a significant northwesterly extension of near-surface mineralization, with grades notably increasing from 38 meters downhole. The hole returned 502 meters at 0.40% copper, 73 ppm molybdenum, and 1.22 g/t silver from 38 meters, including 388 meters at 0.44% copper and 186 meters at 0.50% copper.
The results expand the drillhole-defined mineralized footprint at Cobrasco Central to approximately 1,200 meters by 550 meters, with the footprint continuing to grow through successive step-out drilling. Mineralization remains open in all directions. Two additional drillholes, CDH010 and CDH011, have been completed from the same platform, with assays pending. Wide-spaced scout drilling is ongoing from a new platform located approximately 350 meters northwest of the previous drill site to assess the overall scale potential of the mineralized system.
Joseph van den Elsen, Andina Copper President and CEO, stated: "Andina Copper continues to systematically advance its scout drilling programme in a northwesterly direction with wide spaced fans of holes aimed at expanding the envelope of porphyry Cu-Mo mineralization. The results of hole CDH009 validate this approach, significantly extending shallow, near-surface copper-molybdenum mineralization 350m to the northwest." He added that all nine drill holes reported to-date have returned wide intervals of high-grade, near-surface mineralization, and mobilization of a second diamond drilling rig will expedite continued exploration.
Geologically, hole CDH009 intersected a leached cap with supergene oxidation to about 41 meters. Below that, significant chalcopyrite mineralization occurs as disseminations and veinlets in various porphyries and breccias. Below 350 meters, copper and molybdenum mineralization is associated with halo veins and alteration fronts. Copper grades decrease with depth as sericitic overprint diminishes within a potassic-altered domain. The highest grades are in the upper 300 meters, closely associated with sericite alteration. The rhyolite porphyries intrude intermediate-composition porphyries, with the highest grades found where intensive sericite alteration occurs.
The implications of this announcement are significant for the mining industry and the region. The Cobrasco Project continues to demonstrate the potential for a large porphyry copper-molybdenum system. The expansion of the mineralized footprint and the open nature of mineralization suggest the system could be substantial, potentially leading to a major discovery. For the industry, this reinforces the prospectivity of the Andean porphyry belt in Colombia. For the local community and Colombia, a large-scale copper mine could bring economic benefits, including jobs and infrastructure development. The company's systematic approach and plans for a second drill rig indicate an aggressive exploration campaign, which may accelerate the project's advancement.
Quality assurance and quality control procedures were followed, with core samples sent to ALS laboratories in Medellin and Lima for analysis. The qualified person for the technical information is Francisco Montes, a consultant for Andina Copper and a member of the Australian Institute of Geoscientists. View the original release on NewMediaWire and the company's corporate presentation at Andina Copper Corporate Presentation.
