Altiplano Announces Q1 2021 Results at Farellon

 

 Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report on the Q1 2021 results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.

 

During Q1, 2021, the Company extracted a total 9,770 tonnes of mineralized Cu/Au material at Farellon and processed 8,055 tonnes at an average copper grade of approximately 1.53%. Sales of 257,500 pounds of copper generated approximately US$544,000 in revenue. Total revenue since Q1 2018 generated at the Farellon operation now represents more than US$6,000,000 from the sale of approximately 2.96 mm pounds of copper.

 

Total extracted tonnes in Q1 declined by 19.5% from the previous record quarterly set in Q4 2020. Processed material was also lower in Q1 representing a 11.5% decrease from the previously strong quarter. Overall grade declined by 8.9% from Q4 2020. Grade and extraction declines are attributed to development work in non-productive areas and reduction in grade control as the benching process of removing ceilings between drift levels has begun. The grade is expected to improve in April as new headings are developed and with access to higher grade zones. At the end of March 2021, the Company had 1,600 tonnes in stockpiles at the Farellon site and an additional 1,428 tonnes in process.

 

CEO Alastair McIntyre comments "the work in Q1 2021 reflects our ongoing focus on development and sustainability. As we advance to additional headings at depth, and begin to mine within existing levels, this provides us the opportunity to improve output and increase efficiencies. Our next steps are to begin mining on the 369 m level in the NE and SW directions, following up with an extension to the 360 m level."

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/83337_77735d69a47f48cb_001.jpg

 

Figure 1. Mined, Processed and Cu Grade

 

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/83337_77735d69a47f48cb_001full.jpg

 

 

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/83337_altiplano2_560.jpg

 

Figure 2. Processed Material, income vs. Mining Costs

 

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4303/83337_altiplano2.jpg

 

 

 
                     
PeriodUSD RevenueCu Pounds Sold
Q1 2020$320,960188,670
Q2 2020$477,805310,255
Q3 2020$827,298460,385
Q4 2020$579,276322,130
Q1 2021$544,019277,520
Total$2,749,5001,558,950
 

 

 

Figure 3. Quarterly Review of US$ Revenue and Copper Pounds Sold

 

 

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/83337_77735d69a47f48cb_003.jpg

 

Figure 4. Farellon Mine Section

 

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4303/83337_77735d69a47f48cb_003full.jpg

 

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 the production decision

 

Mining activity in Q1 2021 involved completing the advance on the 376 m NE and 382 m NE levels where work has also begun to remove the ceilings between these drifts. This benching method is used to extract the mineralized material remaining between the drift levels, which is removed to the surface. This work also creates additional ventilation as the spaces between these levels open up. Two chimneys were created to open two additional air flow channels by connecting the 382 m SW with 389 m SW levels and also connecting the 389 m SW with 395 m SW levels. Finally, the extension of the Hugo Decline to the 369 m level began at the end of March. This approximately 80 m extension is expected to be completed in May (News Release 4 April 2021).

 

About Altiplano

 

Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on the acquisition and development of near-term cash flowing assets and exploration projects of significant scale. Altiplano's goal is to grow into a mid-tier producer of copper, gold and silver with immediate plans of generating profits from three cash flowing projects in 2021. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.

 

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/83337

 

 

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Osisko Metals (TSXV:OM)

Osisko Metals


Keep reading...Show less
Copper bars with weight stamps, stock market chart background.

What Was the Highest Price for Copper?

Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Team Expansion & Bulk Met Testing Commences

Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce several strategic technical appointments and partnerships that strengthen the in-house project development team and support the advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.

These appointments coincide with the commencement of bulk-scale metallurgical testing, a critical step in progressing Pitfield toward commercial development.

Keep reading...Show less
Cracked globe labeled "Tariffs" and "Sanctions" on a wooden surface.

Global Outcry Mounts Over Trump’s Tariff Blitz Ahead of Deadline

President Donald Trump’s surprise announcement of 30 percent tariffs on imports from the EU and Mexico has triggered immediate backlash from various stakeholders, with less than three weeks to go before the tariffs take effect on August 1.

The tariffs—part of a broader series of trade penalties that include duties on copper and new levies on Canada, Japan, South Korea, and Brazil—have drawn sharp criticism from some of the country's closest allies and trading partners.

Keep reading...Show less
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper's Trump Tariffs — Plus Gold Price, Uranium Opportunity

Lobo Tiggre, CEO of IndependentSpeculator.com, discusses the recent news that the US plans to put a 50 percent tariff on copper imports.

He also weighs in on gold, silver and platinum price drivers, as well as uranium stocks.

Keep reading...Show less
Metal pipes and bars obstructed by yellow "tariffs" tape with US flags.

Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

Keep reading...Show less

Latest Press Releases

Related News

×