Altiplano Obtains Exploitation Permit at Maria Luisa
Altiplano Obtains Exploitation Permit at Maria
Luisa
Edmonton, Alberta--(Newsfile Corp. - September 16, 2021) -
Altiplano Metals Inc
. (TSXV: APN)
(WKN: A2JNFG) ("
Altiplano
" or the "Company") is pleased to announce that the Exploitation Permit
Application for the Maria Luisa historical Gold-Copper mine has been approved by the Chilean mining
authority Servicio Nacional de Geologia y Mineria (SERNAGEOMIN). The Maria Luisa project is located
within the Atacama Region 100 km north of La Serena in Incahuasi, Chile.
This approval provides the Company the authorization to begin underground exploration and
development work at Maria Luisa. With the approval in place, the Company plans to establish an
underground decline system designed to reach gold-copper mineralized veins through multiple access
points on multiple levels. The initial decline system 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.).
CEO Alastair McIntyre commented "I am pleased the approval process for the Maria Luisa gold - copper
project has been completed and we can now focus on the development phase. Historical work at Maria
Luisa has yielded very good results including areas of past production where approximately 6.89 grams
per tonne (g/t) gold and 1.89% copper were recovered. In addition, the relatively under-explored area to
the NW, where a separate NS vein structure occurs has yielded underground chip samples of 8.73
grams per tonne gold over 5.74 m, provides us with an exciting new area to explore and develop."
Figure 1. Plan Map of Maria Luisa
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/96760_ab97686fb4e9c8cc_001full.jpg
*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 design process involves accessing the northwest-southeast trending mineralized Au-Cu veins
through crosscuts on 4 separate levels designed to create up to 8 mining faces (Figure 2.). 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 (see news release 14 June 2021). The development work
will also be guided by a surface and underground drill program to assist with future grade control. The
construction time is expected to be approximately 6 months with fully funded Phase 1 costs anticipated
at US$600,000. During the construction/development phase, the company will have 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.
Figure 2. Underground Mine Model
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/96760_ab97686fb4e9c8cc_002full.jpg
The Company is currently finalizing a review process to select a contract miner for the construction and
development of the decline. This process is expected to be completed in the next few weeks where work
can begin immediately.
About Altiplano
Altiplano Metals Inc. (APN: TSX-V) 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
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/96760