Altiplano Receives First Payment for Processing of Material from its Initial 2,000 tonne Bulk Sample, Commences 5,000 tonne Bulk Sample APN: TSXV The ALTPF: OTCQB 9AJ1: FWB
Altiplano Receives First Payment for Processing of Material
from its Initial 2,000 tonne Bulk Sample, Commences 5,000
tonne Bulk Sample
APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB
EDMONTON
,
Feb. 19, 2018
/CNW/ - Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("
APN
" or the "
Company
") is
pleased to announce the commencement of a 5,000 tonne bulk sample and to provide a progress report for its project at the historic Farellon and
Maria Luisa Copper-Gold
mines.
Up to
February 16, 2018
, the Company has taken a 2,000 tonne bulk sample of Cu-Fe-Au vein material from the
395M
Level drift. To date, 946
tonnes of Cu-Fe-Au vein material have been shipped and processed (Table 1). The remaining 1,054 tonnes are stockpiled on site awaiting
shipment for toll processing.
Table 1: Processed Cu-Fe-Au Vein Material
Date
Wet MT
Humidity (%)
Dry MT
Copper Grade (%)
nov-28
27,56
4,0
26,458
1,52
nov-28
25,06
2,1
24,534
1,86
nov-29
26,03
2,7
25,327
1,28
nov-29
25,12
4,0
24,115
1,23
Jan 05
32,80
2,4
32,013
2,33
Jan 08
37,73
2,7
36,711
2,40
Jan 08
34,18
2,4
33,360
2,45
Jan 09
29,14
2,0
28,557
2,64
Jan 10
31,44
4,0
30,182
2,79
Jan 11
18,94
4,0
18,182
2,21
Jan 11
29,18
4,0
28,013
2,02
Jan 11
31,52
4,0
30,259
2,23
Jan 12
27,17
2,0
26,627
2,13
Jan 12
34,01
4,0
32,650
2,38
Jan 15
27,32
3,0
26,500
2,28
Jan 15
24,85
2,8
24,154
1,90
Jan 15
25,28
3,0
24,519
2,33
Jan 16
25,43
4,0
24,413
1,68
Jan 16
26,02
3,9
25,018
1,80
Jan 16
29,05
4,0
27,888
1,86
Jan 16
24,85
2,0
24,353
1,83
Jan 17
24,64
2,0
24,147
1,54
Jan 17
26,86
2,0
26,323
1,32
Jan 17
27,38
2,0
26,832
1,75
Jan 17
25,52
3,9
24,525
1,27
Jan 18
26,18
4,0
25,128
1,61
Jan 23
24,05
4,0
23,393
1,66
Jan 23
24,49
4,0
23,821
2,44
Jan 24
25,80
4,0
25,096
2,09
Jan 24
27,40
3,3
26,496
2,65
Jan 25
26,68
2,0
25,954
2,19
Jan 25
23,27
2,0
22,637
2,31
Jan 25
27,86
3,0
27,102
2,40
Jan 25
15,27
2,0
14,965
1,82
Jan 26
27,94
2,0
27,381
1,99
946,02
3,00
917,634
2,030
The Company has submitted revisions of its toll milling contracts ("Patrons") to include gold credits. Once approved, Altiplano will re-commence
delivery of Cu-Fe-Au stockpiles for processing. Gross revenue received from the delivery and sale of the initial 946 tonnes of Cu-Fe-Au material
is
US$73,000
including recuperation of IVA tax credits.
During the month of February, the Company has extracted 300 tonnes of Cu-Fe-Au vein material from the
395M
level. During the balance of the
month, the Company intends to open additional drift levels to increase the volume of material accessible for future testing and toll processing as
part of its 5,000 tonne bulk sample.
CEO
John Williamson
stated, "We are excited that sales of Cu-Au vein material have commenced. The initial 2,000 tonne bulk sample clearly
demonstrated that we have the width, continuity and dilution control to achieve a grade of 2% Copper, or greater. We have extracted up to 2,300
tonnes of material per month and we'd like to expand our capacity to 5,000 tonnes per month. We are now undertaking a 5,000 tonne bulk
sample that will, in addition to providing information for resource estimation, allow us to assess the costs, methods and infrastructure required to
optimize operations under
Chile's
progressive mining regime. We are continuously upgrading our capability with the goal of improving our
processing capacity to 5,000 tonnes per month, while maintaining grade and defining a maiden resource and reserve. So far, everything is
advancing as planned."
As part of its ongoing program, Altiplano is carrying out the recommendations contained in the APEX Report of February 10, 2017 filed on
SEDAR for the exploration development of the Farellon project and is also relying upon past production records, underground sampling and
related activities and current diamond drilling to estimate grade and widths of the mineralization. There are no mineral resources or reserves on the
property and the current mineral exploration activities are intended to be part of a program to determine if mineral resources can be identified. No
production decision has been made at this time. Should a production decision be made without completing a feasibility study demonstrating
economic and technical viability, there would be increased uncertainty as well as economic and technical risks of failure associated with such a
production decision.
Osbaldo Zamora Vega
, 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 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
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
View original content with multimedia: http://www.newswire.ca/en/releases/archive/February2018/19/c1212.html
%SEDAR: 00030745E
For further information:
Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-1467
CO: Altiplano Minerals
CNW 16:05e 19-FEB-18