Altiplano Confirms Continuity in Farellon Vein System at Depth with Ongoing Exploration Drill Program
Altiplano Confirms Continuity in Farellon Vein
System at Depth with Ongoing Exploration
Drill Program
Edmonton, Alberta--(Newsfile Corp. - October 13, 2021) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to announce that 8 drill holes from Phase 1 of its
ongoing 6,200 m underground exploration drilling program have been completed at the Farellon copper-
gold (Cu-Au) mine located near La Serena, Chile.
Highlights
Eight underground drill holes from Drill Pad 1 (Figure 1) have been completed for a total of 1,857
metres.
Continuity of the Farellon Vein System at depth has been confirmed with all holes intersecting the
Farellon Vein System up to 28 metres below the current 360 m development level (198 m below
surface).
Drilling has confirmed the strike extent of the vein system over 230 metres where mineralized
sections vary in (true) width from 2.5 m to 5 m and averaging 3.68 m.
Logging of the drill core has confirmed the presence of copper sulphide and magnetite
mineralization typical of the upper parts of the working developments.
The drill has been moved to the second location at Drill Pad 2 (on surface) to begin the next
planned series of holes.
CEO Alastair McIntyre comments, "We are pleased with the initial results from the first eight holes in the
ongoing drill program. Visual inspection of the core has confirmed copper sulphide and magnetite
mineralization in the Farellon vein at depth and we look forward to the completion of the program and
releasing assay results in the coming weeks."
The intent of the 6,200 m drilling program is to further delineate the iron oxide copper gold vein system at
depth and to outline additional tonnage available to support the planned 5,000 tonnes/month extraction
rate at Farellon. In addition, the drilling is expected to aid in grade control and optimize development.
Figure 1: Plan map of Farellon underground development and drill plan
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/99377_c8324de304431872_001full.jpg
Altiplano has generated over US$6,600,000 from the recovery and sale of approximately 3.375 million
pounds of copper with an average grade of 1.77% Cu (2018 Q1-2021 Q2). Cash flow has been re-
invested into equipment, underground drilling, expanding underground development, enhancing
ventilation to increase productivity and capacity, and the commencement of the permitted El Peñón fit-
for-purpose mill and flotation plant located 15 km from the Farellon site.
About Altiplano
Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company
has a diversified portfolio of assets that include an operating copper/gold/iron mine, development near
term producing gold/copper projects, and exploration land packages with district-scale potential.
Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable
production, reinvesting into exploration, and pursuing acquisition opportunities to complement its
existing portfolio. Management has a substantial record of success in capitalizing on opportunity,
overcoming challenges and building shareholder value. Altiplano trades on the Toronto Venture
Exchange trading under the symbol APN and the Frankfurt Exchange under the symbol A2JNFG.
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, President and CEO
Tel: (416) 434-3799
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
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/99377