Base Metals

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to present recent exploration results and a proposed location for a new decline that will target the existing workings and also access a second mineralized system at the Maria Luisa gold-copper mine. The Maria Luisa project is located within the Atacama Region 100 km north of La Serena in Incahuasi, Chile.

The Maria Luisa project hosts gold-copper mineralization in two major NW-SE and N-S trending vein systems. Historical mining has largely been from the main NW-trending system, the Maria Luisa vein, (Figure 1) which is an anastomosing set of structures traceable for approximately 500 metres along-strike. Limited underground workings exist on the N-S vein system and there are no known production records or grades available in this area. However, recent surface and underground grab and chip sampling results along the N-S vein system indicate that this system may be of similar caliber to the Maria Luisa Vein. An underground chip sample from the N-S vein system returned 8.73 g/t gold over 5.75 metres, confirming continuity from surface where recent grab samples have returned up to 4.96 g/t gold and 3.51 % copper*. Anomalous gold-copper surface rock grab sampling of the N-S vein system defines a strike extent of over 450 metres that remains open.

An extensive road network on the project and favourable topography are proving very valuable as the Company designs the future underground development. A proposed portal entrance and southwest oriented decline (Figure 1) will allow for the development of both vein systems in tandem and provide excellent exploration and discovery opportunities as the decline is advanced between the two vein systems.

CEO Alastair McIntyre commented "Maria Luisa is a high-grade gold copper project that has yielded excellent grades from previous drill sampling and historical underground workings. In addition, the results of our recent underground sampling along a previously underexplored zone to the NE of the project are also very encouraging. These results provide the Company an excellent opportunity to further explore and develop the asset by connecting both high grade zones with our proposed underground decline system. Our next steps are to finalize engineering studies and submit the appropriate applications to begin the development work."

Property Geology

The vein ranges between 1-5 metres in width with associated structures including faults, magmatic-hydrothermal breccias, and tectonic breccias. Numerous other structural and vein systems on the project have not been effectively explored and could provide additional upside.


The mineralization was emplaced in two different stages:

  1. Au-rich mineralization consists of specular hematite-quartz banded veins with epithermal textures including open spaces, crustiform quartz, and bladed calcite indicative of boiling. Grades up to 25 g/t Au across 1.6 m obtained from a vein of massive hematite suggest an association between Au and hematite, although supergene enrichment is suspected due to the presence of jarosite. This stage is brecciated and cut by a second stage of mineralization.
  2. Cu-rich mineralization consists of magmatic-hydrothermal breccia with abundant angular fragments of stage I mineralization and andesitic rock either clast-supported or cemented by siderite and iron-copper oxides.

Figure 1 - Location and sample map.

Cannot view this image? Visit:

To view an enhanced version of Figure 1, please visit:

*Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. Channel sample 001 is composite in nature and comprised of six samples that range in length from 0.7-1.2 metres. The reported gold value is a weighted average.

Recent Diamond Drilling

A limited four-hole, 495 metre diamond drill program was completed in 2017 that was intended to test mineralization below the historical workings of the main Maria Luisa vein system (Figure 1). The drill program intersected both the hematite Au-rich mineralization with hole 17MLD001 (1 m @ 6.95 g/t Au and 0.03% Cu), and Cu-rich mineralization with hole 17MLD003 (0.6m @ 5.90% Cu and 0.22 g/t Au). However, core recovery within the mineralized structures (fault gouge) was very poor ranging between 45 and 60%.

Historical Resource and Exploration Target

The Maria Luisa veins consistently yield significant grades of gold, with recent selective mining (2013 to 2015) of over 600 tonnes with an average grade of approximately 6.85 grams per tonne (g/t) Au and 1.89 percent (%) Cu (M. Dufresne, NI 43-101 Technical Report, February 2017). An exploration target has been defined for the Maria Luisa Property based upon the historical resource estimate conducted by ENAMI, recent underground sampling and mapping, historical production records and the author's own sampling and three-dimensional modelling. The target ranges from 200,000 to 400,000 tonnes with a range in grades of 1.5% Cu and 2 g/t Au to 2.5% Cu and 5 g/t Au. This estimation of quantity and grade is conceptual in nature with insufficient work to define a mineral resource, and further exploration may or may not define a resource at Maria Luisa (M. Dufresne, NI 43-101 Technical Report, February 2017). In addition, a decision to commence underground development at the Maria Luisa site 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 this decision.

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, managed by 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.

Cannot view this image? Visit:

To view an enhanced version of this graphic, please visit:



/s/ "John Williamson"

For further information, please contact:
Alastair McIntyre, CEO
Tel: (416) 434 3799

Jeremy Yaseniuk, Director
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. Any decision to commence production 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

To view the source version of this press release, please visit

News Provided by Newsfile via QuoteMedia

Teck Announces Carbon Capture Utilization and Storage Plant Pilot

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today announced a Carbon Capture Utilization and Storage (CCUS) pilot project at its Trail Operations metallurgical complex in southern British Columbia. The CCUS pilot is expected to begin operation in the second half of 2023.

The CCUS pilot supports Teck's Net-Zero Climate Change Strategy including our goal to reduce the carbon intensity of our operations by 33% by 2030 and achieve net-zero emissions by 2050.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Cyprium Metals

Cyprium Metals Limited (ASX: CYM) – Trading Halt


The securities of Cyprium Metals Limited (‘CYM’) will be placed in trading halt at the request of CYM, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 30 June 2022 or when the announcement is released to the market.

Keep reading...Show less

Cyprium Metals Ltd AUD50M Secured Offtake Prepayment Facility for Nifty Copper

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce that it has entered into an exclusive Letter of Intent with Glencore International AG ("GLN" or "Glencore") for AUD50 million in respect of a Copper Cathode Offtake Secured Prepayment Facility which will be used for funding the Nifty Copper , as part of the debt financing for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs.


- An exclusive Letter of Intent for a Secured Copper Cathode Prepayment Facility has been signed with Glencore, under which:

o Offtake arrangement for 100% of the Copper Cathode produced during Phase 1 of the Nifty Copper Project restart
o AUD50M Secured Offtake Prepayment Facility

- The Secured Offtake Prepayment Project Funding from Glencore is part of a total debt funding package for the Nifty Copper Project restart

- Advanced discussions are continuing with Senior Debt counterparties, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"We are very pleased to enter into an exclusive Letter of Intent for a Copper Cathode Offtake Secured Prepayment Facility with Glencore. This is part of a fully funded finance package for the restart of the Nifty Copper Project.

The restart project economics are very robust, and we have continued to make further improvements to the Nifty Copper Project during the financing process.

We are looking forward to completing our total funding package so that we can commence executing our Nifty Copper Project restart development plans."

This exclusive Letter of Intent includes a non-binding term sheet for both offtake arrangement and project funding. This is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project, which is expected to include senior secured financing and secured offtake financing.

Under the terms of the exclusive Letter of Intent, CYM and GLN will work towards finalising outstanding due diligence activities, and documentation for the project funding for execution, which is being done in conjunction with ongoing advanced discussions with the potential secured senior debt providers.

Key Terms of the Copper Cathode Prepayment Facility

Indicative terms - Offtake

- 100% of Copper Cathode produced at the Nifty Copper Project, up to a maximum of 120,000 tonnes

- Offtake pricing of copper cathode shipments determined by reference to average market rates

Indicative terms - Prepayment Facility

- Facility amount: AUD50 million

- Facility term: 60 months

About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.

Cyprium Metals Ltd

News Provided by ABN Newswire via QuoteMedia

[subscribe_company_profile use_post="101691698"]

Keep reading...Show less

Northern Dynasty Reports Annual General Meeting Results

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE MKT:NAK) ("Northern Dynasty" or the "Company") announces the voting results from its 2022 Annual General Meeting held on June 23, 2022 in Vancouver, British Columbia (the "Meeting

At the Meeting, a total of 215,554,654 common shares were voted, representing 40.69% of the votes attached to all outstanding common shares as of the record date. All nine nominees were elected to the Company's Board of Directors (the "Board"). The voting results were as follows:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Ivanhoe Mines to Release Quarterly Production Results and Operations Update on July 5

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) stated today that it is unaware of any company-specific reason that might be contributing to the recent decline in the company's share price other than general market volatility.

On July 5, 2022, Ivanhoe will issue a second quarter production update on the Kamoa-Kakula Mining Complex, as well as a general operations update. In May, Kamoa Copper achieved record monthly copper production of 29,800 tonnes.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lion Copper and Gold

Lion Copper and Gold Corp. Announces Proposed Shares for Debt Settlement

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG", or the "Company") announces that it has entered into a debt settlement agreement (the "Agreement") with a creditor dated June 22, 2022 whereby the Company has agreed to issue shares to settle debt in the amount of $100,000 owed to the creditor. The debt was incurred pursuant to an option Agreement between the Company and the creditor dated January 26, 2022. Pursuant to the Agreement the Company will issue 1,212,121 common shares of the Company at a deemed price of $0.0825 per share to the creditor.

The issuance of the common shares in connection with the debt settlement is subject to the approval of the TSX Venture Exchange and will be subject to a four-month hold period.

Keep reading...Show less

Latest Press Releases

Related News