Proactive Investors - Los Andes Copper Ltd (TSXV:LA) said it has received a favorable ruling from the Second Environmental Court in Chile, allowing the company to resume drilling operations at its Vizcachitas Project.
The court confirmed that Los Andes has successfully met all the conditions imposed in July last year, thereby authorizing the restart of drilling activities.
The court had initially issued a preliminary injunction on March 18, 2022, suspending the drilling program. However, on July 20, 2022, the court ruled that the company's drilling program was compatible with the presence of the Andean cat, subject to certain conditions. Over the past months, Los Andes and its consultants diligently worked to obtain the necessary filings and approvals from government agencies, meeting all the court-imposed conditions.
In a statement, Santiago Montt, CEO of Los Andes Copper, expressed his delight at the positive ruling, commenting: "We are delighted to have received this positive ruling. Having fully complied with all the conditions imposed by the court, we are now able to return to drilling in order to pursue the optimisations highlighted in the Pre-Feasibility Study published earlier this year."
Montt further emphasized the company's commitment to community engagement, saying: "In addition to the technical work required to lift the injunction, we have also continued to be very active reinforcing our relationship with the community.
"We have implemented various community programs and have developed a strong communications plan, particularly in regional radios and social media, aimed at improving the knowledge and understanding of the future Vizcachitas Project and of the multiple opportunities that a sustainable mining project like Vizcachitas will bring to families and communities."
The Vizcachitas Project, located along one of Chile's prominent copper belts, is considered one of the largest copper deposits in the Americas not controlled by major mining companies. Situated 150 kilometers north of Santiago, the project benefits from excellent infrastructure in the region.
With the authorization to resume drilling, Los Andes Copper is optimistic about advancing the Vizcachitas Project, which it believes has the potential to become Chile's next major copper mine.