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Andina Copper Drills New Porphyry Copper System at Piuquenes North

Andina Copper Confirms Third Porphyry System at Piuquenes North, But Assay Data Remains Critical for Valuation

By The Northwire Desk — AI Analysis May 28, 2026 · 06:00 ANDC · 1.25 Andina Copper Corporation

Executive Summary

Event: Exploration Update / Drilling Results (Piuquenes Project, Argentina).
Date: 2026-05-28.
Key Activity: Completion of two diamond drill holes (PIU12 and PIU13) at the Piuquenes North target.
Geological Findings: Both holes intersected multiple intrusive phases associated with porphyry-style copper sulphide mineralization within a newly identified intrusive complex. Visual logging confirms chalcopyrite and bornite mineralization in quartz veins and disseminations.
Assay Status: Assay results for PIU12 and PIU13 are pending. Samples dispatched to ALS Minerals (Mendoza, Argentina) for analysis at the Lima laboratory.
Target Validation: Drilling tested a large, deep-seated low resistivity Magnetotelluric (MT) anomaly measuring approximately 800m by 700m. The anomaly remains open to the north and at depth.
Future Plans: Integration of assay results with geological logging into an updated model; follow-up drilling planned for down-dip and along-strike extensions.

Material Impact

Positive Confirmation, Speculative Value: The news confirms the existence of a third mineralized porphyry system at Piuquenes North, validating the geophysical MT anomaly model. This reduces geological risk regarding the project's potential scale. However, because assay results are pending, no economic value can be assigned to this discovery yet.
Comparison to Recent History: Unlike the May 13, 2026 Cobrasco update which provided specific grades (e.g., 272m @ 0.50% Cu), this release lacks quantitative grade data. In junior mining exploration, visual confirmation is a necessary precursor but not sufficient for valuation without assay results.
Market Expectation: The market has been pricing in the success of the Cobrasco project (Colombia) and Piuquenes East (Argentina). This news diversifies the portfolio risk by confirming a third system, but it does not materially change the immediate resource estimate or cash flow potential until assays are released.
Risk Aversion View: As a critical analyst, I note that "visual logging confirms" is subjective compared to assay data. The lack of grades means this news cannot be classified as Material - Positive in terms of immediate stock re-rating, though it supports the long-term thesis. It fits Routine - Positive as an incremental step in the exploration program rather than a definitive discovery announcement.

ANDC · Price

Company Overview

Company: Andina Copper Corp. (TSX-V: ANDC).
Flagship Projects:
- Cobrasco (Colombia): Cu-Mo porphyry system. Recent drilling has shown significant intercepts (e.g., 272m @ 0.50% Cu, 152m @ 0.67% Cu). Footprint expanding to ~1,100m x 550m. Considered a "company-making asset" by management.
- Piuquenes (Argentina): Porphyry copper-gold system. Previously identified East and Central zones; now confirming North zone. Adjacent to Aldebaran Resources' Altar porphyry system.
- Mantau (Chile): Cu-Au project. Surface sampling completed with high-grade rock chips (up to 9.43% Cu), but no drilling results reported in the provided news history yet.
Development Stage: Exploration and Discovery. No production revenue mentioned.

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