Altiplano Pursues Wider High Grade Zones and Increased Processing Capability at the Historic Farellon Cu-Au Mine
Altiplano Pursues Wider High Grade Zones
and Increased Processing Capability at the
Historic Farellon Cu-Au Mine
EDMONTON
,
Aug. 8, 2018
/CNW/ - Altiplano Metals Inc. (APN:TSXV) (ALTPF:OTCQB)
(9AJ1:GER) ("
APN
" or the "
Company
") is pleased to report on progress at the historic Farellon
Copper-Gold Mine ("
Farellon
") near La Serena,
Chile
.
CEO
John Williamson
stated, "Our in-country team continues to advance exploration at Farellon with
the goal of developing a long term plan. As new observations and data have become available, we
have been continually evaluating extraction methods and processing options to form a basis for
future economic studies to assess the potential for scalable extraction scenarios, as well as the
possibility of initiating commercial operations. In order to complete the detailed studies, we will drive
a ramp up to the
414M
level to the northeast above the
395M
level and to the
365M
level. This will
allow us to test the extent and vertical continuity of a wide high-grade zone located within the last
100 metres of our exploration to date, which will lead us closer to a production decision. Over the
last quarter we have extracted an average of 3,200 tonnes per month, and anticipate extracting
4,800 tonnes in July."
With the discovery of wider Cu-Au mineralized zones in the northeast
395M
level, the Company has
also recommenced advancement of the Hugo decline to the northeast to gain access to the wider
zone with the goal of intersecting the Farellon vein system up to
50 m
below the current
development.
During June, 2018 the Company completed extraction of its second 5,000 t bulk sample at Farellon.
Of the 14,100 total tonnes of Cu-Au mineralized vein material extracted from Farellon to date, the
Company has shipped 6,250 tonnes to a government processing facility and contracted two
separate private processing facilities to process an aggregate of approximately 3,050 additional
tonnes. Between the government and private processing facilities, 9,300 tonnes have been
processed to date and Cu-Au concentrate has been shipped for sale. The Company has 6,000
tonnes of extracted Cu-Au mineralized vein material that remain stockpiled for processing.
The Company has been comparing technical results between the government and private processing
facilities. Processing of the 3,050 additional tonnes of extracted Cu-Au vein material at the private
facilities was supervised by the Company's metallurgical engineer as due diligence to assess the
potential for purchase by Altiplano. It was determined that both private processing facilities provided
a suitable Cu-Au concentrate and would be suited, with minor adjustments, to process the
Company's extracted material in the future. The Company is currently in negotiations to pursue the
possibility of purchasing a processing facility of its own.
Altiplano Pursues Wider High Grade Zones and Increased Processing Capability at the Historic
Farellon Cu-Au Mine (CNW Group/Altiplano Metals Inc.)
During June, 2018 the Company also has granted incentive stock options to various directors,
officers and consultants to purchase up to 2,050,000 common shares exercisable on or before June
8, 2023 at a price of $0.30 per share.
Osbaldo Zamora Vega, Ph.D, P.Geol., Vice President of Exploration for 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 Metals Inc. (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.apnmetals.com.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
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 Metals Inc.
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For further information:
Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-
1467
CO: Altiplano Metals Inc.
CNW 03:45e 08-AUG-18