Andina Copper Confirms High-Grade, Near-Surface Copper
Andina confirmed high-grade copper core in CDH013, although the intercept width was narrower than previous results.
Andina Copper Corporation (ANDC) reported that drill hole CDH014 intersected 212m at 0.50% Cu, 112ppm Mo, 1.9g/t Ag from 52m downhole. This interval includes 76m at 1.00% Cu, 191ppm Mo, 2.9g/t Ag from 52m downhole, and 32m at 1.48% Cu, 272ppm Mo from 60m downhole. Individual 2m samples returned up to 2.59% Cu from 62m, 2.27% Cu from 64m and 1.96% Cu from 82m.
CDH014 was collared on the same pad as CDH013, approximately 350m northwest of the previous drill pad, and drilled steeply northeast at azimuth 45°, dip -80°, to 565.95m. The company says the hole confirms continuity of shallow, high-grade mineralization in the northwest part of the footprint. The Cobrasco footprint is stated as approximately 1,300m x 550-700m, open in multiple directions.
Fourteen holes and approximately 11,000m have been reported to date; assays for an additional 3,000m are pending; a second rig is expected within the quarter.
Andina Copper Corporation (ANDC) continues its exploration activities as a pre-resource explorer with no revenue, reserves, or resource estimates. The market has already reviewed 14 drill holes defining a footprint of 1,300m by 550-700m, meaning the significance of individual drill results is weighed against this established scale.
The latest release serves as a continuation and confirmation of previous findings, supporting the high-grade northwest portion of the Cobrasco deposit. These results add confidence that the shallow high-grade zone extends, though they do not establish a new zone, a new intrusive center, or a step-change in the deposit's footprint.
The prior anchor result, CDH013, returned 322m at 0.51% Cu, including 200m at 0.65% Cu and 44m at 0.81% Cu. The new hole, CDH014, features a richer high-grade core of 76m at 1.00% Cu but presents a materially shorter total grade-width product. ANDC’s stock has drifted from a high of C$1.43 to C$0.98, suggesting the market is not currently pricing an aggressive repetition of the best prior widths.
Undisclosed in today’s release, the company held C$28.0 million in cash and C$66.6 million in total equity as of Q1-2026, with 269.4 million shares outstanding. For the fiscal year 2025, the company reported a net loss of C$5.6 million and recorded no revenue.
Andina Copper Corporation (TSXV: ANDC, FSE: FIR, OTCQB: PMMCF) is a pre-revenue, pre-resource copper explorer focused on South American projects. The company’s portfolio includes the Cobrasco porphyry Cu-Mo discovery in Chocó, Colombia, where it has completed 14 holes totaling approximately 11,000m. The deposit footprint measures approximately 1,300m by 550-700m, with drilling ongoing and a second rig expected within the quarter.
In Argentina, the company holds the Piuquenes porphyry Cu-Au project in San Juan, targeting Piuquenes Central, East, and North. Prior drilling at Piuquenes North included hole PIU13, which returned 468m at 0.50% Cu and 0.30g/t Au, including 164m at 0.70% Cu and 0.44g/t Au. In Chile, the Mantau project features an undrilled Cu-Au IOCG/Manto-style target in the Coastal Cordillera. While high-grade rock-chip samples have been collected, no drill assays are available.
Financial data from the first quarter of 2026 shows cash holdings of C$28.0 million, total assets of C$69.2 million, and total equity of C$66.6 million, against 269.4 million shares outstanding. For the fiscal year 2025, the company reported a net loss of C$5.6 million. The company generates no revenue and relies on equity financing. The MD&A notes approximately 17 million outstanding options and 34.5 million warrants, resulting in a fully diluted share count higher than the basic count used for market-cap calculations.