Altiplano Discovers New Vein System at Maria Luisa; samples 2.50 Metres of 1.44 g/t Gold and 4.65% Copper
Altiplano Discovers New Vein System at Maria
Luisa; samples 2.50 Metres of 1.44 g/t Gold
and 4.65% Copper
Edmonton, Alberta--(Newsfile Corp. - February 14, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to announce progress of the decline advance and
underground channel sampling of a newly discovered vein system intersected within the Maria Luisa
decline (Table 1). The decline is currently being advanced parallel to projected gold-copper vein
mineralization in a southeast direction towards historical underground workings in the southernmost
portion of the property (Figure 1). The Maria Luisa project is located within the Atacama Region 100 km
north of La Serena in Incahuasi, Chile.
Highlights
The Maria Luisa decline has advanced a total of 115 metres and has begun the crosscut to the
main vein system expected to be intersected in approximately 15 metres.*
A
new near surface high grade copper oxide vein system
trending in a N-S orientation with
mineable widths was intersected underground during the decline advance.
Underground mapping tested with channel samples ML_L004 and ML_L005 on this vein produced
strong results, including
2.50 metres of 1.44 g/t Au and 4.65% Cu
and
2.52 metres of 1.17 g/t
Au and 0.93% Cu
, respectively.
The newly discovered vein appears to be N-S orientated and will be tested in the second phase of
the upcoming drill program. Vein sets in this orientation have been poorly understood and not
mined historically but appear to have significant upside.
Geological mapping and drill planning is underway to fully evaluate this new trend of mineralization
and its potential to add additional mineralized tonnage for extraction.
A
seventy-tonne bulk sample from this vein system
has been shipped to a third-party
processor for recovery of the copper and gold.
President and CEO Alastair McIntyre comments: We are pleased with the underground progress at
Maria Luisa where we will soon reach the first access point of the targeted main vein system. We are
also excited to discover a new, highly mineralized, copper-gold vein system that has yielded very
significant assays in early results. The presence and grade of this vein system supports the significant
upside potential of multiple vein systems at Maria Luisa which remain largely unexplored."
Table 1:
Underground channel sampling results from the Maria Luisa decline
Channel ID
From
(m)
To
(m)
Width
(m)
Au
(ppm)
Cu (percent)
ML_L001
0
1.85
1.85
0.73
0.76
ML_L002
0
0.5
0.5
0.18
0.48
ML_L003
0
3.4
3.4
1.20
0.47
ML_L004
0
2.5
2.5
1.44
4.65
ML_L005
0
2.52
2.52
1.17
0.93
* The 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.
Figure 1.
Decline and channel sampling locations at Maria Luisa
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/113698_033b270d8474dbc4_001full.jpg
.
Figure 2:
Photos of the Maria Luisa decline entrance
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/113698_fig%202%20altiplano.jpg
.
Altiplano has generated over US$7.98 million from the recovery and sale of 3.86 million pounds of
copper with an average grade of 1.74% Cu (2018 Q1-2021 Q4). Cash flow has been re-invested into
equipment, underground drilling, expanding underground development at Farellon, enhancing ventilation
to increase productivity and capacity, new underground development and exploration at Maria Luisa,
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
www.metalsgroup.com
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. The is no current mineral resource at Maria Luisa and
further exploration may or may not define a resource estimate (M. Dufresne, NI 43-101 Technical
Report, February 10, 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. 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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