Altiplano Provides Activity Update and Commences Drill Program at Maria Luisa
Altiplano Provides Activity Update and
Commences Drill Program at Maria Luisa
Edmonton, Alberta--(Newsfile Corp. - February 28, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to announce the commencement of a surface and
underground delineation and exploration diamond drill program and provide a general activity update at
its Maria Luisa project, located 100 km north of La Serena within the Atacama Region in Incahuasi,
Chile.
Highlights:
The NE-SW trending Maria Luisa decline has advanced a total of 115 metres
The south orientation crosscut has intersected the first of the two vein systems (Figure 1). The
intersection of the second vein system is expected in a few metres.
Channel samples ML_L004 and ML_L005 were designed to test the newly intersected North-
South vein system encountered in the upper portion of the decline and 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 (true widths). See news release February 14, 2022.
Results from the first 38 tonnes of a
70-tonne bulk sample
from a secondary vein system within
the decline
returned a grade of
1.54% Cu
. An additional ~177 tonnes of material has been
shipped for processing and analysis.
A surface and underground diamond drill program has commenced
to delineate the Au-Cu
vein systems at depth and guide future development (Figure 2).
Drilling has begun at Station A (and underground at Station B to follow), where a series of short
holes will be drilled to support the current decline operations.
Additional drill stations (C-E) are planned where a series of short holes will be drilled to identify the
mineralogy, orientation, and structure of the vein systems, which have been poorly understood and
not mined historically but appear to have significant potential upside.
Station E is located near historical workings in the north where underground channel samples
returned results of
8.73 grams/tonne Au over 5.75 m
of true width (See news release May 26,
2021). This area has been identified as an additional future decline target.
President and CEO Alastair McIntyre comments: "We are very excited with the initial results of the
decline and sampling work at Maria Luisa. The intersection of new vein systems with the presence of
high-grade gold and copper are very encouraging. The new drill plan at Maria Luisa is designed to
provide important geological information and mining control for the current decline operations and future
mining potential. This work supports our primary goal at Altiplano of rapidly advancing projects through
exploration, development and ultimately extracting material for sale."
Figure 1.
Channel sampling results, underground mapping, and decline progress at Maria Luisa
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/115054_49431e54b4636a14_001full.jpg
* 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 2:
Plan map illustrating decline progress, planned drill collar locations, and mineralized trends at
Maria Luisa.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/115054_49431e54b4636a14_002full.jpg
Figure 3.
Maria Luisa Drilling
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4303/115054_altipl2.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
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. 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
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/115054