Altiplano Completes the Purchase of Processing Plant and Commences Civil Works
Altiplano Completes the Purchase of
Processing Plant and Commences Civil Works
Edmonton, Alberta--(Newsfile Corp. - October 22, 2020) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report the Company has completed its purchase
and acquisition of a 250 tonne per day processing plant to process its Cu-Au material from its Farellon
operation (see release August 24, 2020). Since Altiplano commenced extraction in 2017, the Company
has extracted and sold approximately 2.4 million pounds of copper of which approximately 480,000 was
extracted and sold during Q1/Q2 2020. APN will continue to expand, extract and sell copper-gold
material via toll milling during the plant construction phase.
CEO Alastair McIntyre commented, "We are pleased to complete the processing plant acquisition and
commence the construction and civil work required to bring the plant online in Q1, 2021. In addition, we
are continuing to advance the Hugo decline to bring on an additional two levels for copper-gold material
extraction. The advancement of the additional levels provides us the opportunity to increase output while
improving our efficiencies which coincide with rising copper and gold prices. The processing plant
enhances our ability to attain a higher value concentrate product."
The processing plant and equipment have been moved approximately 290 kilometres to Altiplano's
processing site 15 km from Farellon. The plant site has road access and power and its location will
reduce trucking costs by an estimated 75%. The facility includes crushing and grinding equipment and a
flotation plant with sufficient capacity to process up to 5,000 tonnes/month of copper gold from the
Company's Farellon mine. The fully functional plant includes, primary, secondary, and tertiary crushing,
milling, including two 5' x 10' ball mills, and a full flotation circuit. The plant has sufficient capacity to
process up to 5,000 tonnes/month of copper-gold feed from the Company's Farellon mine. In preparation
for the processing plant installation, the property has been surveyed to prepare the site for civil
engineering works for pouring cement foundations, electrical and water line installation and construction
of a security perimeter fence.
Figure 1. Location of Farellon Mine and Mill Site.
To view an enhanced version of Figure 1, please visit:
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Figure 2. Entrance to the Mill Site.
To view an enhanced version of Figure 2, please visit:
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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.
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. 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
www.sedar.com
.
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