Altiplano Receives Final Processing Permit and Begins Operations at El Penon
Altiplano Receives Final Processing Permit
and Begins Operations at El Penon
Edmonton, Alberta--(Newsfile Corp. - June 23, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report that final processing approval has been
received from the Chilean Mining authority SERNAGEOMIN (Servicio Nacional de Geología y Minería).
This final permit allows operations to begin at the Company's processing facility constructed at El
Peñón, approximately 15 kms from the Farellon Copper Gold mine located near La Serena, Chile.
Processing of stockpiled material currently stored at the El Peñón site has begun as a part of the
commissioning of the plant, with the first concentrate expected to be produced for shipment in July.
Production from Farellon will be split shipped to the facility and ENAMI for the next few months to
maximize copper sales while the plant ramps up to full operational capacity.
Operation of the plant provides the Company the opportunity to reduce trucking costs by 75% and
processing costs by 45% while recovering additional payable metals. The El Peñón crushing and
flotation plant will incorporate a high efficiency water recovery circuit designed to produce dry tailings
and an iron separator to recover high value iron oxide from the tailings output. This process will reduce
the tailings output by 50% where dry tailings can be moved and stored in an environmentally efficient
manner replacing the need for a conventional tailings dam system. In addition, the de-watering stack
circuit will reduce the overall freshwater consumption needed at the plant by 75%. This eco-friendly
system will be one of the first to be used in the small mining sector in Chile and elevates Altiplano to a
leader in reducing its environmental footprint.
President and CEO Alastair McIntyre commented: "We are very pleased with El Peñón receiving final
permitting approval and commencing start up.
This significant milestone was achieved through the
excellent work of our team who were met with several timeline challenges during COVID and completed
the facility within our financial expectations. Our new industry leading processing facility, focused on
water conservation and waste reduction, aligns Altiplano with our commitment to sustainable and
responsible growth."
Figure 1. Copper-Gold-Iron Concentrate Process
To view an enhanced version of Figure 1, please visit:
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Figure 2. Photos of the El Peñón Processing Plant.
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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 of
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.
Altiplano has generated over US$8.83 million (after processing costs) from the recovery and sale of 4.15
million pounds of copper with an average grade of 1.76% Cu (2018 Q1-2022 Q1). 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 construction El Peñón fit-for-purpose mill and flotation plant located
15 km from the Farellon site now in operation.
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.
Metals Group is 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.
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 Farellon mine was previously in production dating
back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately
300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed
locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling
and related activities and current diamond drilling to estimate grade and widths of the mineralization
to reactivate production. The decision to commence production on the Farellon deposit 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
.
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