Andina Copper's Extension Drilling Reveals Significant Southern Mineralization at Cobrasco Project

Andina Copper Corporation reported an outstanding drill intercept from hole CDH005, the third hole completed at its Cobrasco Project in Choco, Colombia. Following high-grade copper-molybdenum intersections reported in recent drillholes, CDH005 was designed to test the southern extensions of the Cobrasco system to a depth of 700 meters in an area of limited geological data and no prior drilling.

The results confirm a large-scale southerly extension of copper-molybdenum-silver mineralization, demonstrating a large multi-phase porphyry system with newly observed intermediate intrusive phases consistently mineralized over broad intervals. Step-out drillholes CDH006 and CDH007 have been completed with assays pending, while new drillhole CDH008 is underway targeting the northern extension of mineralization. Systematic drilling of the emerging large-scale porphyry system at Cobrasco continues, with copper-molybdenum mineralization defined over a mostly near-surface zone within a 2,500-meter by 1,000-meter target area.

Drilling thus far has tested an area of approximately 1,000 meters by 750 meters, less than half the potential footprint. Andina Copper's President and CEO Joseph van den Elsen commented that ongoing drilling continues to demonstrate the large-scale and relatively shallow nature of Cobrasco Central, with results from hole CDH005 significantly extending the mineralized envelope to the south. With broad spaced holes having tested less than half the target area to date, the company sees potential for a globally significant copper deposit at Cobrasco.

To accelerate exploration and evaluation, a second drill will be mobilized to systematically explore and define the lateral extents of the copper-molybdenum system and to add volume to the higher-grade copper shells intersected in drilling to date. Following drillhole CDH004, which returned long intercepts of high-grade copper-molybdenum mineralization, hole CDH005 was collared from the same platform as previous holes and oriented due south to test for southern extensions. The hole tested approximately 600 meters of lateral extent and 700 meters of vertical extent and was terminated at a downhole depth of 934 meters.

Unlike earlier holes which intersected a multi-phase quartz-rich rhyolitic to dacitic subvolcanic dome complex, hole CDH005 is characterized by mineralized diorite to dacite-andesite porphyries, generally manifesting as magnetic intrusive sequences at surface transitioning to a magnetic low embayment at depth. The intermediate dacite-andesite units are intruded by several narrow quartz-rich felsic rhyolite subvolcanic intrusions which are interpreted to intrude the earlier intermediate porphyry phase.

Hole CDH005 was collared within dark-colored diorite porphyry units and remained within this phase to approximately 170 meters downhole before intersecting fine-grained dacite-andesite units. These subvolcanic porphyries exhibit visually significant chalcopyrite-dominant sulphide mineralization, accompanied by weak to moderate sericite alteration overprinting earlier potassic assemblages. The dacite-andesite units are intruded by thin apophyses of intermineral rhyolite porphyry and extend to approximately 630 meters downhole, where the hole intersected a younger and lower-grade intermineral rhyolite porphyry that continues to end of hole.

The lower sections of CDH005 display epidote-chlorite alteration consistent with a propylitic assemblage, interpreted to represent the outer or lower zones of the Cobrasco hydrothermal system. The mineralization remains open to the south. Drillhole CDH005 also differs from previous south-west trending drillholes with no phreatomagmatic breccias observed at depth. These breccias have thus far exhibited very low-grade assays and have defined the southwest limits to the Cobrasco Central mineralization system.

The continuity of intrusive phases, alteration styles and sulphide mineralization throughout the drillhole is supported by wide intercepts of moderate to high grade copper mineralization interpreted to be predominantly associated with the waning stages of potassic alteration transitioning into early sericitic alteration. Assay results support the interpretation of a large and long-lived mineralizing system extending south of the currently defined Cobrasco footprint. The large, strongly coincident copper-molybdenum surface geochemical anomaly currently being tested by drilling extends approximately 2.5 kilometers north-south and 900 meters east-west.

This soil anomaly is supported by limited rock chip geochemistry, geological mapping, and geophysical data collected to date. A systematic environmental baseline program has commenced across the project area and will be followed by detailed geological mapping and further surface sampling to support ongoing drill targeting. The company's corporate presentation is available at https://www.andinacopper.com/investors/presentations. Mineralized intercepts reported for CDH005 have applied a 0.2% copper cut-off and maximum dilution of 10 meters.