Altiplano Completes Technical Review and Submits Exploitation Permit Application at Maria Luisa
Altiplano Completes Technical Review and
Submits Exploitation Permit Application at
Maria Luisa
Edmonton, Alberta--(Newsfile Corp. - June 14, 2021) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to provide an update on the progress at the
historical 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 Company is pleased to report that technical work has been completed to develop an underground
exploration and development plan at the historical Maria Luisa gold - copper mine. The Company is also
pleased to announce that the exploitation permit application along with the design details have been
submitted to government mining authority, Servicio Nacional de Geologia y Mineria (SERNAGEOMIN) to
support the commencement of this work.
CEO, Alastair McIntyre commented, "I am pleased that our positive technical review has been
completed for Maria Luisa and we have begun the application process to support the underground
development work. Maria Luisa presents a great opportunity to explore and develop a high-grade Au-Cu
deposit from underground while leveraging further upside exploration opportunities on the project, in
particular to the north-east where we recently sampled
8.73 g/t gold
over
5.75 metres
from underground
workings. I am also pleased announce the appointment of our new mining engineer Aaron Kemp as a
recent addition to the Chilean team to manage this process."
The technical plan is designed to reach gold-copper mineralized veins through multiple access points on
multiple levels through a decline system. The work involves constructing a decline that will enter at the
southwest corner of the property and advance in a southeast direction for approximately 350 metres to
intersect the mineralized zone beneath the historical workings (Figure 1.). In this zone, over 600 tonnes
were recovered from selective mining between 2013-2015 yielding an average grade of 6.85 grams per
tonne (g/t) and 1.89 percent (%) Copper. In addition, historical work utilizing surface and underground
sampling and mapping conducted by ENAMI between 1998 and 1999, generated a historical resource
that ranges from 200,000 to 400,000 tonnes with a range of grades of 1.5% Cu and 2 g/t Au to 2.5% Cu
and 5 g/t Au*
Figure 1. Plan Map of Maria Luisa
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*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
exploration and 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.
The northwest and southeast mineralized Au-Cu veins will be accessed through crosscuts on 4 separate
levels and designed to create up to 8 mining faces (Figure 2.). The underground work will provide
detailed geological knowledge and also generate the opportunity to extract Au-Cu mineralized bulk
samples that can be sold to nearby processing plants to offset some of the development costs in
advance of a full ramp up. The Company plans to initially extract up to 3,000 tonnes of mineralized gold-
copper material in Phase I with future opportunity to expand to 5,000 tonnes. The construction time after
permitting approval is expected to be approximately 6 months. The process of review and granting of the
permit is anticipated to take approximately two months. Once the approval has been granted the
Company is funded to immediately begin the construction of the decline.
Figure 2. Underground Mine Model
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As part of the ongoing development work, the Company is also designing an underground drill program
to delineate the gold-copper vein system at depth and guide future development. This has proven to be
very valuable at Farellon where it has helped maintain grade and structural control on the operations.
With the Company's newly purchased drill rig (
see April 15
th
news release
), this will provide the
opportunity to obtain valuable cost effect geological information for our technical team both in the
development underground and identifying additional zones of interest from surface. In addition to the
underground drill program, the Company is designing an exploration work program that will involve
detailed geological mapping of parallel vein systems and follow-up surface exploration drilling to test the
underexplored land package to the NE where recent underground chip sampling has identified a number
of high-grade Au-Cu north-south trending gold mineralized vein systems. This exploration work, along
with new engineering and permitting approvals, is anticipated to support the construction of a second
decline to access this N-S mineralized vein structure where ultimately a series of interconnected decline
structures would provide multiple access points.
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.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
Chairman
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 or begin
underground development 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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