Andina Copper Reports Step-Out Porphyry Cu-Mo Results, Expanding Mineralized Footprint at Cobrasco

Andina Copper Corporation (TSX-V: ANDC | FSE: FIR | OTCQB: PMMCF) has reported an outstanding drill intercept from CDH007, the second hole completed from a new step-out drill pad at the Cobrasco Project in Chocó, Colombia. The results further expand the Cobrasco Central Cu-Mo porphyry system to the northwest, with near-surface mineralization commencing at 44 meters and continuing uninterrupted to 324 meters.

Following the high-grade Cu-Mo intersections reported in recent drillholes CDH003 to CDH005, a new step-out drill pad was collared to test the continuity and extension of the Cobrasco Central mineralized system to the northwest. Drillhole CDH006 was drilled to the southwest along this new section line, intersecting 232 meters at 0.68% Cu, 75 ppm Mo, and 2 g/t Ag from 38 meters. Hole CDH007 was drilled from the same pad to the northeast, in a section line parallel to previous holes CDH001 and CDH004.

Hole CDH007 intercept confirms a significant extension of shallow Cu-Mo mineralization to the northwest, continuous on section with hole CDH006: 292 meters at 0.48% Cu, 62 ppm Mo, and 1.7 g/t Ag from 44 meters. Additional step-out drillholes CDH008 (completed) and CDH009 (in progress) have been drilled from the same pad to test extensions to mineralization in north and northwest orientations, with assays pending for both holes.

The ongoing program of scout drilling continues to rapidly expand the mineralized footprint at Cobrasco Central, with every drillhole completed to date reporting significant porphyry Cu-Mo mineralized intercepts from surface or near-surface to depths of approximately 600 meters. Drillholes completed to date demonstrate a potentially world-class copper porphyry complex, comprising multiple intrusive phases, subvolcanic flow-domes, and mineralization events occurring at or near surface. The current drillhole-defined Cu-Mo mineralized footprint now measures approximately 1,000 meters by 500 meters, remains open in all directions, and is expected to expand further with results from CDH008 and CDH009. High-grade intervals reported to date will be targeted with a second drill rig.

Andina Copper's President and CEO Joseph van den Elsen commented: "We continue to rapidly advance a wide-spaced scout drilling programme and actively extend the limits of the Cobrasco Central system. Incredibly, after only 7 drillholes the Cu-Mo mineralization footprint already covers an area of 1,000 x 500 meters, continues to grow with each drillhole, and remains open in all directions. Step-out drillholes CDH008 and CDH009 are expected to further extend the drillhole-defined mineralization footprint. Our team will continue to test the limits of mineralization, and preparations are underway for the mobilization of a second drill rig. A second drill rig will support both the testing of further mineralized targets and the delineation of the high-grade mineralization intersected in each of the widely spaced scout holes completed to date."

Geology and Mineralization - Drillhole CDH007: Previous drillhole CDH006 was the first of multiple holes from a large step-out collar position designed to test the NW-extensions of the Cobrasco Central mineralization footprint and was collared approximately 400 meters NW of the previous drill pad and approximately 300 meters SW of CDH001. CDH006 was drilled parallel to CDH001 and CDH004 and was notable in intersecting a near-surface and continuous moderate to high-grade Cu-Mo mineralized interval commencing at 38 meters over a span of 232 meters. Hole CDH007 (Az: 45°, Dip: -70°, Depth: 603 meters) was the second hole to be drilled from this drill pad, oriented to drill parallel to CDH006 but trending NE along a SW-NE section line. Its relatively steep 70° dip allowed it to test approximately 565 meters vertically and 205 meters horizontally.

Mineralization observed in CDH007 is broadly consistent with that intersected in CDH006 and is dominated by chalcopyrite hosted within structurally prepared zones, including strong argillic alteration in near-surface saprolite and clay-rich fault gouge, transitioning to phyllic and grey-green sericite alteration in more competent core intervals, with bornite occurring sporadically as disseminations and as rims to chalcopyrite mineralization.

CDH007 is mineralized from surface, reporting subdued grades generally in the 0.10 – 0.20% Cu range and with strong saprolite development to 48 meters. This depth marks the start of strongly fractured rhyolitic porphyry that extends to 218 meters, containing a continuous high-grade interval punctuated by local microdiorite xenoliths and fault zones with high clay and sulphide content. A discrete interval of daci-andesite is contained between 218-237 meters and is accompanied by a corresponding decrease in Cu-grades before returning to rhyolitic porphyry and moderate to high Cu-grades to a depth of 254 meters. 254 meters marks the first occurrence of magmatic breccias with associated high-grade assays greater than 1% Cu. Two intervals of breccias are recorded (254-284 meters and 292-324 meters) where the host exhibits intense A-veins as stockwork veining and chalcopyrite as fault gouge and fracture fill. The main alteration is sericitic superimposed on remnant potassic alteration. The end of the magmatic-hydrothermal brecciation in the drill hole is marked by a faulted contact at 324 meters, below which an intermediate composition dacitic-andesitic intrusive unit is present. This unit extends to 436 meters and is characterized by a marked decrease in Cu-Mo grades. A subsequent fault zone between 436 and 445 meters separates the dacitic-andesitic unit from a poorly mineralized phaneritic granodiorite to tonalite intrusion carrying abundant magnetite veins. This intrusive unit was intersected to the end of the hole at 603 meters.

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