Altiplano Advances Underground Development at Farellon
Altiplano Advances Underground Development
at Farellon
Edmonton, Alberta--(Newsfile Corp. - April 12, 2021) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to provide an update on the underground mining
activity at the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.
As part of the ongoing underground development at Farellon, the Company began the extension of the
Hugo Decline in the month of March to access the 369 m level access point as illustrated in Figure 1.
To
date, the operation has advanced 45 m of the expected 80 m of total development length required. The
intersection of the 369 m level is expected late April/early May. The new access point will provide two
additional development headings to the NW and SW directions.
CEO Alastair McIntyre commented, "Expansion of the Hugo Decline is part of our ongoing development
plan to operate on several working headings through multiple access points. These additional locations
provide opportunity to further improve efficiencies and grade control. Our next stage of development
involves ventilation improvements which will provide the opportunity to increase the number of daily
production shifts. This increased capacity will allow us to maximize output from the development
headings and, in addition, to begin mining above and below existing drifts. This is all part of our design
to maximize the output in advance of the mill facility start up."
Figure 1. Illustration of Underground Operations at Farellon
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/79986_87df02d78466ea68_001full.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.
Figure 2. Jumbo Preparing Face for Advancement
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/79986_87df02d78466ea68_002full.jpg
COVID-19 Update:
The health and safety of our employees, contractors, visitors, and the local
community remain our top priorities.
Altiplano continues to follow the COVID-19 guidance issued by the
Federal and Provincial Governments of Canada and Chile. Mine site safety and hygiene protocols (such
as: disinfection points for hand washing and supply of face masks) remain in place in order to keep
employees and stakeholders safe and to limit any spread at site or within the broader community.
As of
Monday, April 5th Chileans resident and foreigners will not be able to travel abroad for the next 30 days
unless they receive extraordinary authorization for urgent reasons. Entry to Chile by non-resident
foreigners will be prohibited for the same period.
Source
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.
www.metalsgroup.com
ON BEHALF OF THE BOARD
/s/ "John Williamson"
Chairman
For further information, please contact:
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. 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
.
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