Northwire Canada EditionFriday, October 30, 2026
Northwire
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Gold 4,033.10 +0.0% Silver 52.06 −0.3% Copper 6.58 −0.2% Oil 102.80 +0.8% Palladium 1,002.00 +0.3% ONAU 0.530 −1.9% WMS 0.075 +0.0% CAD 2.34 −2.5% NGEX 21.53 −1.3% CG 28.52 −3.7% PPX 0.220 −8.3% CS 11.77 −2.1% EMO 0.295 +0.0% IPT 0.225 +0.0% TECK 89.22 +1.3% SLG 5.95 +0.8% FT 0.095 +2.7% SGQ 0.330 +6.5% AUAU 0.440 +6.0% FVL 0.830 −2.4% AYA 34.15 −3.3% Gold 4,033.10 +0.0% Silver 52.06 −0.3% Copper 6.58 −0.2% Oil 102.80 +0.8% Palladium 1,002.00 +0.3% ONAU 0.530 −1.9% WMS 0.075 +0.0% CAD 2.34 −2.5% NGEX 21.53 −1.3% CG 28.52 −3.7% PPX 0.220 −8.3% CS 11.77 −2.1% EMO 0.295 +0.0% IPT 0.225 +0.0% TECK 89.22 +1.3% SLG 5.95 +0.8% FT 0.095 +2.7% SGQ 0.330 +6.5% AUAU 0.440 +6.0% FVL 0.830 −2.4% AYA 34.15 −3.3%
Drill Results Routine +

Andina Copper drills 272 m of 0.50% Cu at Cobrasco

Cobrasco Porphyry Expansion Validates Scale But Dilution Risks Loom

Executive Summary
  • Andina Copper Corp. reported drill intercepts from hole CDH008 at the Cobrasco project in Chocó, Colombia on May 13, 2026.
  • Key intercept: 272 m @ 0.50% Cu, 75 ppm Mo, and 1.92 g/t Ag from 52 m depth.
  • Includes a higher-grade interval of 152 m @ 0.67% Cu, 68 ppm Mo, and 1.90 g/t Ag from 54 m depth.
  • The mineralized footprint has expanded to approximately 1,100 m along strike and 550 m laterally.
  • Mineralization is open in all directions with a northwest extension confirmed.
  • Geological observations include chalcocite coating hypogene sulphides suggesting secondary copper enrichment.
  • Operational update: A second diamond drilling rig is being mobilized to support definition drilling for Cobrasco Central and new porphyry centers.
  • Hole CDH009 is completed with assays pending; CDH010 is currently in progress.
Material Impact
  • Incremental Validation: The results confirm the northwest extension of the Cobrasco Central porphyry system, consistent with previous drill holes (CDH003 through CDH007) released between February and April 2026.
  • Grade Comparison: While significant, the average grade in CDH008 (0.50% Cu over 272m) is lower than the peak grades reported in earlier holes like CDH003 (1.17% Cu over 118m). This suggests a large-scale porphyry system rather than high-grade pockets, which aligns with market expectations for this project type but does not represent a surprise grade upgrade.
  • Price Context: The stock price has already rallied significantly from the March financing level of $0.80 to recent highs near $1.05 on previous positive drill results and financing news. This latest result is largely priced in given the consistent positive flow over the last three months.
  • Capital Needs: The mobilization of a second rig indicates continued capital expenditure requirements, reinforcing the need for future financings which poses dilution risk to existing shareholders.
  • Classification: The news is positive and confirms project viability but lacks the unexpected magnitude required for a "Material - Positive" rating given the established trend. It is best categorized as Routine - Positive.
ANDC · Price
Company Overview
  • Company: Andina Copper Corp. (TSX-V: ANDC).
  • Flagship Project: Cobrasco Cu-Mo Porphyry Project in Chocó, Colombia.
    • Status: Exploration/Drilling phase.
    • Footprint: ~1,100 m x 550 m mineralized footprint defined to date.
    • Geology: Potassic and sericite-altered magmatic-hydrothermal breccias; potential for secondary copper enrichment (chalcocite).
  • Secondary Projects:
    • Piuquenes East/Central (Argentina): Cu-Au-Ag porphyry system with deep MT anomalies.
    • Mantau (Chile): High-grade Cu-Au surface sampling results validated historic data.
  • Management: Joseph van den Elsen (President & CEO), Tony Manini (Chairman).
Read the original news release →

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