Altiplano Provides 2017 Exploration Update For Its Maria Luisa and Farellon Projects, Chile APN: TSXV The ALTPF: OTCQB 9AJ1: FWB
Altiplano Provides 2017 Exploration Update For Its Maria
Luisa and Farellon Projects, Chile
APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB
EDMONTON
,
Nov. 10, 2017
/CNW/ - Altiplano Minerals Ltd. (TSX-V: APN) (OTCQB:ALTPF) (FWB: 9AJ1) ("
APN
" or the "
Company
")
is pleased to provide a summary of exploration and development work completed to date during 2017 at its Maria Luisa and Farellon Cu (Cu-Au)
Projects located approximately 130 km apart in northern
Chile
. This document summarizes all work that has been completed at Altiplano's Chilean
Projects since the effective date of the most recent NI 43-101 Technical Report for these Projects, which was
February 10, 2017
(
Dufresne
,
2017).
1.
Maria Luisa Project
The Maria Luisa project hosts Au-Cu mineralization in two major NW and NS trending strike-slip structural systems. Historical mining has been
largely from the main NW-trending system, the Maria Luisa vein. The Maria Luisa vein is an anastomosing set of structures (traceable for ~500m
long; Fig 2) that range 1–5 m in width and includes veins, faults, magmatic-hydrothermal breccias, and tectonic breccias. This mineralization was
emplaced in two different stages. The stage I (Au-rich) mineralization consists of specular hematite-quartz banded veins with epithermal textures
including open spaces, crustiform quartz, and bladed calcite indicative of boiling. Grades up to 25 g/t Au across 1.6 m obtained from a vein of
massive hematite suggest an association between Au and hematite, although supergene enrichment is suspected due to the presence of jarosite.
This stage is brecciated and cut by a second stage of mineralization. The Stage II (Cu-rich) mineralization consists of magmatic-hydrothermal
breccia with abundant angular fragments of stage I mineralization and andesitic rock either clast supported or cemented by siderite and iron-copper
oxides (hematite, goethite, malachite) at upper levels. At lower levels (below the 841m level), the breccia fragments are dominantly andesite with
lesser fragments of stage I mineralization and is cemented by quartz-chalcopyrite with minor bornite and traces of pyrite.
The
February 2017
Technical Report on Altiplano's Chilean projects (
Dufresne
, 2017) recommended a significant program of work at the Maria
Luisa Project that included drilling, underground sampling, surface surveying (including a UAV survey), underground surveying, geophysical
surveying, underground development and bulk sampling, all of which was to be incorporated into a possible maiden mineral resource estimation
effort for the Project. Altiplano has not yet initiated geophysical surveying or any significant underground drilling or bulk sampling work at the
Maria Luisa Project. As a result, additional work designed to come up with a possible resource estimation has also not yet been initiated at the
Project.
During 2017, Altiplano completed surface surveying at the Maria Luisa project that allowed for the accurate geospatial location of the project's
key geographic and infrastructure, along with numerous features resulting from historical work. The 2017 surveying program included the
completion of a 115 ha photogrammetric drone (UAV) survey that was completed in August of 2017 (Figure 1).
The 2017 exploration program at the Maria Luisa project included the completion of a limited 4-hole (495m) drill program that was intended to
test both styles of mineralization below the main historic workings of the Maria Luisa main structure. The holes were drilled with a NQ diameter,
and the core samples were split to send one half for ICP-MS multi-element analysis at Actlabs laboratories in Coquimbo,
Chile
. Samples were
also analyzed for Au by a standard 30g fire assay method with a gravimetric finish. Additionally, with respect to QC sampling, two (2) different
certified reference materials (standards), and blank pulp samples, were sent to the labat an overall frequency of 1 QC sample in every 10 total
samples. No issues have been found with the results of any of the QC samples received to date. The full set of results is still pending and only
preliminary results are reported here. Core recovery within the mineralized structures ranged between 45 and 60%. The drill hole collar information
and assay data are summarized in Tables 1 and 2 below, and the holes are illustrated in Figure 2.
The drill program intersected both the hematite Au-rich mineralization with hole 17MLD001 (1 m @ 6.95 g/t Au and 0.03% Cu), and Cu-rich
mineralization with hole MLD003 (0.6m @ 5.90% Cu and 0.22 g/t Au). Disseminations of Cu and Au were also identified within holes MLD003
and MLD004. As a result, these holes were recently resampled in their entirety and these results are pending at this time.
Table 1. 2017 Maria Luisa Drill Collars.
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Azimuth
Dip
Depth (m)
17MLD001
306232
6767010
906
45
-60
137.5
17MLD002
306232
6767010
906
45
-50
84.7
17MLD003
306264
6766987
903
15
-70
155.0
17MLD004
306209
6767079
924
60
-55
117.5
Table 2. 2017 Maria Luisa Drill Program Intersection Summary.
Hole ID
From (m)
To (m)
Core
Interval
(m)
Au
(ppm)
Cu
(%)
17MLD001
101.30
102.28
0.98
6.95
0.03
17MLD002
81.70
83.20
1.50
0.66
1.28
17MLD003
94.15
96.70
2.55
0.16
1.68
including
94.75
95.35
0.60
0.22
5.09
and
100.00
102.00
2.00
1.53
0.38
and
115.00
116.40
1.40
1.62
2.53
17MLD004
42.90
44.40
1.50
1.32
0.52
(note: there is insufficient information available to determine true widths at this time)
2.
Farellon Project
The Farellon Project is being explored for Copper (Cu) bearing, +/- gold (Au), magnetite veins that have seen historical production at shallow
levels. The
February 2017
Technical Report on Altiplano's Chilean projects (
Dufresne
, 2017) also recommended a significant program of work at
the Farellon Project that included drilling, underground sampling, surface surveying (including a UAV survey), underground surveying, geophysical
surveying, underground development and bulk sampling, all of which was to be incorporated into a possible maiden mineral resource estimation
effort for the Project. Results of the UAV are shown on Figure 3. Altiplano has not yet initiated geophysical surveying and is currently planning a
bulk sampling effort intended to evaluate Cu mineralization that has recently been encountered adjacent to the new (2017) Farellon decline, which
has been advanced 341m thus far in 2017. A possible mineral resource estimation has not yet been initiated for the Farellon vein structure.
The primary focus of Altiplano's work in 2017 has been the advancement of the new decline at the Farellon Project and subsequent underground
drilling from drill stations cut along the decline. The Farellon decline is being excavated as a 3m x 3m tunnel that is intended to drop at a rate of
approximately 15% in the immediate footwall approximately 10-15m away from the Farellon structure, which strikes roughly 065
o
and dips
approximately 72
o
to the southeast. In total, 26 underground core holes were initiated during 2017 along the Farellon decline, 25 of which
reached their planned length. The program currently comprises 334.13m of drilling. Of the 25 holes that reached their intended length, only 6
failed to intersect the Farellon structure and instead intersected mafic dykes. The remaining holes intersected the magnetite-chalcopyrite Farellon
vein hosted within a diorite intrusion. Core recovery within the intersected mineralized zones ranged between 90 and 100%. The 2017 Farellon
drill holes were drilled with a BQ diameter and the core samples were generally split to send one half for CuT (total Cu) and Au analyses at
Actlabs laboratories in Coquimbo, Chile. The analytical methods applied to the Farellon samples were the same as those discussed above for the
Maria Luisa drilling samples. Although the current procedure is to split the Farellon core, whole core was sent for analysis from the first 6 holes of
the program. For QC sampling, blank pulp and two (2) different certified reference materials (standards) were inserted by the company into the
regular drill sample stream at an overall frequence of 1 in 10 samples. To date, no significant issues with the Farellon QC sample analyses have
been identified.
The 2017 Farellon drill program collar information and significant intersections are summarized in Tables 3 and 4 below and the drillholes are
illustrated in Figures 4 and 5. The most significant result of the 2017 underground drilling, apart from the continuity of the Farellon structure, was
the apparent increase in copper grades in the more recent drilling at the current extent of the decline, which is located immediately beneath the
historically mined (shallow) portion of the structure. As a result, a bulk sampling program in this portion of the Farellon vein is currently being
planned. Further development of the Farellon decline and additional underground drilling is ongoing.
Table 3. 2017 Farellon Project Underground Drill Collars.
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Aimuth
Dip
Depth (m)
Drill Station
17FND001
287617.6
6657770.9
421.5
152.45
-0.30
5.60
110
17FND002
287708.8
6657818.6
407.5
183.02
0.00
12.60
210
17FND003
287729.9
6657823.2
405.2
129.84
2.84
6.02
230
17FND004
287729.9
6657823.2
405.1
143.80
-28.52
9.66
230
17FND005
287729.9
6657823.2
405.3
126.84
28.79
11.44
230
17FND006
287754.4
6657839.0
401.2
144.54
-0.18
5.54
260
17FND007
287754.6
6657839.1
401.2
103.68
-1.16
7.78
260
17FND008
287754.2
6657838.9
401.2
200.00
0.00
5.60
260
17FND009
287730.0
6657823.4
405.2
101.40
-1.83
6.81
230
17FND010
287729.7
6657823.0
405.2
170.53
0.18
7.10
230
17FND011
287729.7
6657823.0
405.0
180.00
-30.00
10.50
230
17FND012
287768.7
6657852.0
400.0
148.00
0.00
21.25
280
17FND013
287778.2
6657855.2
399.6
115.40
0.26
24.74
290
17FND014
287778.4
6657855.4
399.5
99.53
-2.43
12.68
290
17FND015
not drilled
17FND016
287730.6
6657824.6
405.3
88.92
-1.96
12.99
230
17FND017
287730.6
6657824.6
405.3
89.04
-32.64
15.02
230
17FND018
287777.5
6657854.5
399.5
159.36
-0.71
11.70
290
17FND019
287778.5
6657856.4
399.5
101.79
-31.70
15.50
290
17FND020
287810.0
6657880.6
397.5
119.42
-2.17
19.82
330
17FND021
287778.9
6657855.4
399.5
144.23
-29.93
18.70
290
17FND022
287775.9
6657855.3
399.5
210.29
-0.46
13.85
290
17FND023
287786.3
6657865.0
398.8
85.25
-4.80
23.50
300
17FND024
287810.0
6657880.7
397.7
157.16
-1.06
16.54
330
17FND025
287810.2
6657880.9
397.7
133.63
-0.42
18.00
330
17FND026
terminated short of target
17FND027
287810.2
6657880.9
397.7
155.36
-31.54
21.19
3300
Table 4. 2017 Farellon Drill Program Intersection Summary.
DDH
From
(m)
To
(m)
Core
Interval
(m)
True
Width*
(m)
Cu (%)
17FND001
3.10
4.90
1.80
1.60
1.21
17FND002
10.00
11.60
1.60
1.25
1.17
17FND003
2.34
3.63
1.29
1.15
1.54
17FND004
4.01
6.98
2.97
1.70
1.18
17FND005
no vein intersection (dyke)
17FND006
1.07
2.57
1.50
1.35
0.88
17FND007
2.15
6.72
4.57
3.05
1.59
including
2.15
3.72
1.57
1.05
2.88
17FND008
1.57
3.85
2.28
1.15
1.12
including
2.67
3.17
0.50
0.25
2.31
17FND009
3.12
4.50
1.38
0.85
1.26
17FND010
3.29
4.87
1.58
1.30
0.99
17FND011
no significant intersection (vein)
17FND012
no vein intersection (dyke)
17FND013
no vein intersection (dyke)
17FND014
no vein intersection (dyke)
17FND015
not drilled
17FND016
5.80
7.20
1.40
0.65
1.50
17FND017
10.59
11.79
1.20
0.40
1.75
17FND018
6.20
7.70
1.50
1.30
2.02
17FND019
6.60
8.65
2.05
0.90
2.33
17FND020
13.56
18.35
4.79
3.80
4.14
including
14.70
17.80
3.10
2.45
6.11
including
14.70
15.46
0.76
0.60
10.29
17FND021
no vein intersection (dyke)
17FND022
no vein intersection (dyke)
17FND023
20.65
22.90
2.25
0.75
0.55
17FND024
8.82
11.28
2.46
2.20
1.18
including
10.38
11.28
0.90
0.80
2.41
17FND025
11.11
15.14
4.03
3.40
1.29
including
11.51
12.51
1.00
0.85
3.17
17FND026
terminated short of target
17FND027
14.27
17.45
3.18
1.95
2.10
including
15.82
17.45
1.63
1.00
3.74
including
15.82
16.56
0.74
0.45
5.11
* True Widths are approximate based upon the apparent dip of the Farellon structure.
John Williamson
, P.Geol., President and CEO of Altiplano, is the Qualified Person as defined in National Instrument 43-101 who has
reviewed and approved the technical contents of this press release.
About Altiplano
Altiplano Minerals Ltd. (APN: TSX
V)
is a mineral exploration company focused on evaluating and acquiring projects with significant potential
for advancement from discovery through to production, in
Canada
and abroad. Management has a substantial record of success in capitalizing
opportunity, overcoming challenges and building shareholder value. Additional information concerning Altiplano can be found on its website at
www.altiplanominerals.com
.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
Tel: (780) 437-6624
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. 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
.
SOURCE
Altiplano Minerals
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For further information:
Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-1467; Renmark Financial
Communications Inc., Laura Welsh: [email protected], Tel.: (416) 644-2020 or (514) 939-3989, www.renmarkfinancial.com
CO: Altiplano Minerals
CNW 03:54e 10-NOV-17