Altiplano Receives Final Processing Permit and Begins Operations at El Penon

Altiplano Receives Final Processing Permit and Begins Operations at El Penon

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report that final processing approval has been received from the Chilean Mining authority SERNAGEOMIN (Servicio Nacional de Geología y Minería). This final permit allows operations to begin at the Company's processing facility constructed at El Peñón, approximately 15 kms from the Farellon Copper Gold mine located near La Serena, Chile.

Processing of stockpiled material currently stored at the El Peñón site has begun as a part of the commissioning of the plant, with the first concentrate expected to be produced for shipment in July. Production from Farellon will be split shipped to the facility and ENAMI for the next few months to maximize copper sales while the plant ramps up to full operational capacity.

Operation of the plant provides the Company the opportunity to reduce trucking costs by 75% and processing costs by 45% while recovering additional payable metals. The El Peñón crushing and flotation plant will incorporate a high efficiency water recovery circuit designed to produce dry tailings and an iron separator to recover high value iron oxide from the tailings output. This process will reduce the tailings output by 50% where dry tailings can be moved and stored in an environmentally efficient manner replacing the need for a conventional tailings dam system. In addition, the de-watering stack circuit will reduce the overall freshwater consumption needed at the plant by 75%. This eco-friendly system will be one of the first to be used in the small mining sector in Chile and elevates Altiplano to a leader in reducing its environmental footprint.

President and CEO Alastair McIntyre commented: "We are very pleased with El Peñón receiving final permitting approval and commencing start up. This significant milestone was achieved through the excellent work of our team who were met with several timeline challenges during COVID and completed the facility within our financial expectations. Our new industry leading processing facility, focused on water conservation and waste reduction, aligns Altiplano with our commitment to sustainable and responsible growth."

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/128688_6a61a005b40d98c5_001.jpg

Figure 1. Copper-Gold-Iron Concentrate Process

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/128688_6a61a005b40d98c5_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/128688_6a61a005b40d98c5_002.jpg

Figure 2. Photos of the El Peñón Processing Plant.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/128688_6a61a005b40d98c5_002full.jpg

About Altiplano
Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company has a diversified portfolio of assets that include an operating copper/gold/iron mine, development of near-term producing gold/copper projects, and exploration land packages with district-scale potential. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Altiplano trades on the Toronto Venture Exchange trading under the symbol APN and the Frankfurt Exchange under the symbol A2JNFG.

Altiplano has generated over US$8.83 million (after processing costs) from the recovery and sale of 4.15 million pounds of copper with an average grade of 1.76% Cu (2018 Q1-2022 Q1). Cash flow has been re-invested into equipment, underground drilling, expanding underground development at Farellon, enhancing ventilation to increase productivity and capacity, new underground development and exploration at Maria Luisa, and the construction El Peñón fit-for-purpose mill and flotation plant located 15 km from the Farellon site now in operation.

John Williamson, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101, has reviewed, and approved the technical contents of this document.

Altiplano is part of the Metals Group of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.

www.metalsgroup.com

ON BEHALF OF THE BOARD

/s/ "John Williamson"
Chairman

For further information, please contact:
Alastair McIntyre, CEO
alastairm@apnmetals.com
Tel: (416) 434 3799

Jeremy Yaseniuk, Director
jeremyy@apnmetals.com
Tel: (604) 773-1467

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the (TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating the historical estimates as current mineral resources or mineral reserves. The Farellon mine was previously in production dating back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128688

News Provided by Newsfile via QuoteMedia

APN:CA
The Conversation (0)
Altiplano Reports Q4 2023 Operational Results at Farellon with Improved Cu Grade and Output

Altiplano Reports Q4 2023 Operational Results at Farellon with Improved Cu Grade and Output

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report on Q4 2023 operation results from the Farellon Copper-Gold-Iron (Cu-Au-Fe) mine located near La Serena, Chile.

The Company extracted a total of 9,114 tonnes of mineralized Cu-Au material and processed 8,125 tonnes during Q4 2023 at Farellon. This represents a 12% and 13.6% increase respectively from the Q3 production and processing figures. Mine production in Q4 represented the highest quarterly production over the 2024-year period. Copper grade improved in Q4 to 1.87% representing an 8.7% increase from the 1.72% Cu recovered in Q3. Sales of 325,328 pounds of copper in 2023 Q4 generated approximately US$798,919 in revenue (after processing costs), an increase of 25% over the $639,458 revenue figure received in Q3 - an increase related mainly to processing higher Cu grade material.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Altiplano Reports on Processing Updates with Production of Cu-Au and Iron Concentrates at El Penon

Altiplano Reports on Processing Updates with Production of Cu-Au and Iron Concentrates at El Penon

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report on the progress at the El Peñón processing facility located approximately 15 kms from the Farellon copper-gold mine, 35 kms south of La Serena, Chile.

As part of the ongoing optimization process at the processing facility, several refinements focusing on the milling and flotation processes have been completed for the crushing, milling, and flotation circuits. These adjustments were designed to improve the overall milling process efficiencies and resulted in enhanced productivity, together with increased production of concentrates while completing ongoing adjustments.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Altiplano Metals Announces Change in Financial Year End

Altiplano Metals Announces Change in Financial Year End

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") wishes to announce that it is changing its financial year-end to March 31 from its current year-end of December 31.

As a result, the Corporation will file an additional interim report as of December 31, 2023, and will report audited financial results for a 15-month transition year from January 31, 2023, to March 31, 2024 (with a comparative of the 12 months ended December 31, 2022). Afterwards, the Corporation will revert to a customary reporting calendar based on a March 31 year-end, with fiscal quarters ending on the last day of June, September and December and March each year.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Altiplano Closes Private Placement

Altiplano Closes Private Placement

 Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce that it closed its previously announced non-brokered private placement (the "Offering") for gross proceeds of $600,000. The Offering consisted of 6,000,000 units (the "Units") at C$0.10 per Unit. Each Unit consists of one (1) common share and one (1) non-transferable share purchase warrant (the "Warrants") of the Company.

Each Warrant entitles the holder to acquire one (1) additional common share at a price of C$0.12 per share for two years from the closing date of the Offering provided that if the closing market price for the Company's common shares is equal to or greater than C$0.20 per share for a period of five (5) consecutive trading days at any point during the term (the "Acceleration Clause"), then the Company may deliver a notice that the Warrants must be exercised within thirty (30) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the thirty-first (31st) day after the date of delivery of the Notice.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Altiplano Announces Private Placement

Altiplano Announces Private Placement

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce that it has arranged a non-brokered private placement (the "Offering") of up to 6,000,000 units (the "Units") at C$0.10 per Unit to raise up to C$600,000 in gross proceeds. Each Unit will consist of one (1) common share and one (1) non-transferable share purchase warrant (the "Warrants") of the Company.

Each Warrant will be exercisable to acquire one (1) additional common share at a price of C$0.12 per share for two years from the closing date of the Offering provided that if the closing market price for the Company's common shares is equal to or greater than C$0.20 per share for a period of five (5) consecutive trading days at any point during the term (the "Acceleration Clause"), then the Company may deliver a notice that the Warrants must be exercised within thirty (30) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the thirty-first (31st) day after the date of delivery of the Notice.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
MTM Critical Metals

Flash Metals Acquisition, Tranche 2 of the Placement and Convertible Note Settlement Completed

MTM Critical Metals (ASX:MTM) (MTM or the Company) is pleased to advise that it has completed the acquisition of Flash Metals Pty Ltd (Flash Metals). The closing of this transaction results in MTM securing exploration licenses in the West Arunta and Mukinbudin regions of Western Australia and the negotiation of the exclusive rights to Flash Joule Heating technology with Rice University.

Keep reading...Show less
Warriedar Resources

A$6.0M Placement to Drive Resource Growth at the Golden Range Gold Project

Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to advise that it has secured binding commitments for a two-tranche placement to raise A$6.0 million through the issue of approximately 157.9 million shares at an issue price of A$0.038 per share (Placement).

Keep reading...Show less
Burley Minerals

Burley’s Pilbara Iron Ore Assets Advancing

Burley Minerals Limited (ASX: BUR, “Burley” or “the Company”) advises that a heritage protection agreement has been signed with Yindjibarndi Aboriginal Corporation over the Broad Flat Well exploration license area. Heritage surveys are planned for late-April/early-May 2024.

Keep reading...Show less
Auric Mining (ASX:AWJ)

Canary Capital Finds Auric Mining a ‘Compelling Investments Case’

Auric Mining (ASX: AWJ) is a “compelling investment case” poised for significant growth driven by the potential of its two flagship projects, Jeffreys Find and Munda Gold, Sydney, Australia-based investment management and corporate advisory firm Canary Capital wrote in a new equity research report.

Keep reading...Show less
Auric Mining (ASX:AWJ)

31 December 2023 Full Year Financial Results. Auric Generated $4.22 Million Net Operating Cash

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to provide its financial statements for the year ending 31 December 2023.

Keep reading...Show less
Auric Mining (ASX:AWJ)

Auric Mining a ‘Gold Story’ to Watch, Analyst Says

Australian mining analyst Gavin Wendt has identified junior gold explorer and producer Auric Mining (ASX:AWJ) as a stock to watch, citing the company’s “gradual market re-rating” and its appeal as a low-risk, fully-funded operation with cash flow from its 50 percent stake in Jeffreys Find gold project.

Keep reading...Show less

Latest Press Releases

Related News

×