Altiplano Reports Results at Farellon for July 2021

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

During July 2021, Farellon extracted approximately 4,020 tonnes of mineralized Cu/Au material at an approximate grade of 1.52% copper with shipments for processing totaling 2,831 tonnes. These figures represent a 11.5% improvement from June in tonnes extracted and a 2% increase in the copper grade. Revenue generated in July was approximately US$243,900 (after processing costs). Waste removal increased in July, reflecting the ongoing development work of the Hugo decline extension and preparation work for bench mining practices. At July month end, an additional 1,280 tonnes were stockpiled at site and will be shipped in August for processing.

CEO Alastair McIntyre commented, "I am pleased to see that our positive July results highlight our focus on continuation of the upward trend in improved grade and increasing output while working in tandem with the ongoing development of our decline extension and sustainability work, such as the ventilation improvements."

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/94388_ce1e495804c5e80f_001.jpg

Figure 1. Comparative 2021 Monthly Review of Farellon Output

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/94388_ce1e495804c5e80f_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/94388_ce1e495804c5e80f_002.jpg

Figure 2. Monthly Processed Material, Income and Mining Cost at Farellon

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/94388_ce1e495804c5e80f_002full.jpg

Figure 3. Comparative 2021 Income, Copper Contained and Grade

Month 2021USD Income*Copper PoundsCu grade % 
January$218,695104,7411.77% 
February$137,99068,8061.38% 
March$184,02883,9741.43% 
April$230,65588,0531.64% 
May$99,61439,3301.23% 
June$269,44293,2771.49% 
July$243,85390,6541.52% 

 
*After processing costs

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4303/94388_ce1e495804c5e80f_003.jpg

Figure 4. Illustration of Underground Operations at Farellon

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4303/94388_ce1e495804c5e80f_003full.jpg

The decision to re-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.

During July, extraction of Cu/Au mineralized material focused on advancing the 376 SW and the 368 NE levels. Bench mining continued on the ceiling of level 389 SW and preparation for benching has begun on the 382 SW ceiling (Figure 4). Development work on the Hugo Decline continues with the advance to the next access point at the 360 m level where to date, 70.5 m of the total 90 m required to reach the 360 m level have been completed. The decline advance is expected to be completed at the end of August where an additional advance of 22 m will be required to reach to the vein intersection. This additional work is expected be completed in September. The civil works for the new ventilation plan started with the closure of selected areas of the Almendro Tunnel to support the improved airflow through the Hugo Decline. In addition, the 125 HP fan platform has been installed with test phase preparation underway.

About Altiplano
Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on developing and acquiring near term cash flowing assets and exploring for projects of significant scale. Altiplano's goal is to grow into a mid-tier mining company through developing a portfolio of near-term production projects, cash flowing assets, and exploration projects focusing on copper, gold and silver. 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 portfolio of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection, uncompromising corporate governance and a unique ability to pan through the rubble to discover and develop golden opportunities.

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/94388

News Provided by Newsfile via QuoteMedia

The Conversation (0)
True North Copper

TNC Announces Institutional Placement

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to advise that it has signed binding documentation with Millinium Capital Managers Limited as trustee for MP Materials and Mining Group Fund for a placement of A$5 million comprising the issue of 41,666,667 fully paid ordinary shares in the Company (Shares) at an issue price of A$0.12 per Share (Placement).

Keep reading...Show less
Forte Minerals President and CEO Patrick Elliott.

Forte Minerals CEO Highlights Strategy for Prospecting, Acquiring Prolific Assets at Low Cost

Forte Minerals’ (CSE:CUAU) ability to discover and acquire exploration properties at a low cost in Peru has been largely accomplished through two strategies: seeking relinquished properties when the market is down, and employing remote sensing technology for discoveries, according to the company’s president and CEO, Patrick Elliott.

"Through low market times, we thrive on property acquisitions, deals, negotiating," he said. "It's usually around a time when other companies are relinquishing properties. A lot of the majors go through these periods whereby exploration gets the first cut. ... So we remain very flexible to be able to pick up these properties for nothing."

Elliott was commenting on the company’s recent acquisition of two properties in Peru — the Alto Ruri gold prospect and the Cerro Quillo gold-copper-molybdenum prospect — for a one-time cash payment of only US$25,000.

Keep reading...Show less
True North Copper

TNC Operational Update - Cloncurry Copper Project’s Mining Restart

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to provide an operational update on the mining restart at its 100% owned Cloncurry Copper Project (CCP).

Keep reading...Show less
Copper ore in foreground, with world map showing countries in copper on black background.

Copper Reserves: Top 5 Countries (Updated 2024)

Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned.

The term “peak copper” was coined because some experts believe that copper reserves may be diminishing; as a result, it’s prudent to know the top copper reserves by country when considering investing in the mining industry.

The Copper Development Association pegs current known worldwide copper ore resources at nearly 5.8 trillion pounds, of which only about 0.7 trillion pounds, or 12 percent, have been mined throughout history. Plus, nearly all of that mined copper is still in circulation, as the red metal’s recycling rate is higher than that of any other engineering metal.

Keep reading...Show less
Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Eyes Joint Ventures for VMS Projects in Europe

Avrupa Minerals (TSXV:AVU,OTC Pink:AVPMF,FWB:8AM) has achieved exploration milestones at the fully funded Alvalade copper-zinc volcanogenic massive sulfide project in Portugal and the Slivova gold project in Kosovo. CEO Paul Kuhn is keen to look for potential joint ventures to advance the company's projects.

“The idea is that we start the early phases of the project," he said. "We do the early exploration and hopefully discovery, which we've done at Slivova in Kosovo and the Sesmarias (target) in Portugal, and get them to a point where they are 'venturable.'”

Joint ventures, according to Kuhn, work better by allowing Avrupa and its partners to work together and resolve any problems related to exploration.

Keep reading...Show less

Latest Press Releases

Related News

×