Los Andes Copper's Vizcachitas Project Receives Milestone Chilean Environmental Approval
TSX VENTURE: LA
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2019) - Los Andes Copper Ltd. (TSXV: LA) ("Los Andes" or the "Company") is pleased to announce approval from Chile's Environmental Evaluation Service (Servicio de Evaluacion Ambiental - "SEA") in connection with the drill work carried out on the Company's Vizcachitas project during 2015-2017 (the "Drilling Campaign").
All members of the Regional Environmental Committee (Comision de Evaluacion Ambiental), unanimously moved to grant environmental approval for the Drilling Campaign.
On April 25, 2017, Chile's Superintendency of Environmental Affairs (Superintendencia del Medio Ambiente - "SMA") filed a notice of violation arguing that Compañia Minera Vizcachitas Holding ("CMVH") - the wholly-owned subsidiary of Los Andes that owns the Vizcachitas project - required an environmental approval for the Drilling Campaign prior to its execution. While the Company strongly disagreed with the SMA's filing and viewed the motion as a regulatory change of criteria, the Company directed CMVH to negotiate an agreement whereby, without admitting to any infringement, it agreed to file a plan for environmental permits and other specific environmental measures. This plan was approved by the SMA on December 27, 2017 and CMVH prepared and filed a Declaration of Environmental Impact on June 4, 2018.
More than a dozen governmental agencies then conducted a review of and provided comments on the environmental approval package. CMVH provided the studies and reports that addressed each of the observations raised by these agencies (including Agriculture, Health, Environmental Affairs and Water Management, among others), evidencing compliance with Chilean environmental regulations. This process culminated with the recent receipt of unanimous approval from all the members of the Regional Environmental Committee.
Antony Amberg, President & CEO of Los Andes, commented: "The environmental review process we have successfully completed has been an opportunity to confirm to all regulatory agencies that the Vizcachitas project has diligently conducted its operations, with special care being given to environmental and social matters. The regulators' unanimous approval is a substantial endorsement for the project going forward."
For more information please contact:
Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450
Aurora Davidson, CFO
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is a Canadian exploration and development company focused on the acquisition, exploration and development of advanced stage copper deposits in Latin America. The Company owns 100% of the Vizcachitas project in Chile, the largest copper deposit in the Americas not controlled by the majors. Vizcachitas is a copper-molybdenum porphyry deposit, located 120 km north of Santiago, in an area of very good infrastructure.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described in Management's Discussion and Analysis in the Company's financial statements. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
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