Altiplano Reports January 2022 Results with Improved Revenue and Grade
Altiplano Reports January 2022 Results with
Improved Revenue and Grade
Edmonton, Alberta--(Newsfile Corp. - February 22, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report on the January 2022 results from the
Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.
During January 2022, a total of approximately 3,580 tonnes of mineralized copper-gold material was
extracted at Farellon, and 2,221 tonnes were processed. This work represented an 11% improvement
over the December output of 3,228 tonnes and a 12% improvement over the 1,989 tonnes processed in
December. The grade in January improved to 2.05% for the month compared to the December grade of
1.82%. Grade improvements are attributed to accessing higher grade material in the NE sections of the
mine in the 368 m and 360 m levels in addition to the benching mining of the higher grades in the 389 m
level.
Revenue generated in January was approximately US$288,570 after processing costs, representing a
26% improvement over December's revenue of $229,068. Revenue continues to improve as a result of
higher grade and increased copper sales. At January month end, an additional 600 tonnes were
stockpiled at site where the revenue will be credited to the following months after processing has been
completed. In addition, 1,400 tonnes of low-grade copper/high grade iron are stockpiled at site for
processing at El Peñón site when completed.
CEO Alastair McIntyre commented "We are pleased that the productivity and grade continues to
improve at Farellon. Our focus on grade improvement, particularly in a firm copper price environment,
has a direct impact on higher revenues and supports our bottom line. This remains a priority as we focus
on completing the construction phase at El Peñón and prepare to begin processing at the site."
Figure 1. Comparative 2021 Monthly Review of Farellon Output
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/114411_a37044f2f49849de_001full.jpg
Figure 2. Monthly Processed Material, Income and Mining Cost at Farellon
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/114411_a37044f2f49849de_002full.jpg
Figure 3. Comparative 2021 Income, Copper Contained and Grade
Month 2021
USD Income*
Copper Pounds
Cu grade %
January
$218,695
104,741
1.77%
February
$137,990
68,806
1.38%
March
$184,028
83,974
1.43%
April
$230,655
88,053
1.64%
May
$99,614
39,330
1.23%
June
$269,442
93,277
1.49%
July
$243,853
90,654
1.52%
August
$162,783
69,950
1.20%
September
$154,709
60,914
1.42%
October
$176,318
69,401
1.44%
November
$373,668
121,849
1.94%
December
$229,068
76,667
1.82%
January
$288,570
96,011
2.05%
*
After processing costs
Figure 4. Farellon Mine Section.
To view an enhanced version of Figure 4, please visit:
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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 the production decision.
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 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.
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 portfolio of companies. Metals Group is an award-winning team of
professionals who stand for technical excellence, painstaking project selection, uncompromising
corporate governance and a unique ability to pan through the rubble to discover and develop golden
opportunities.
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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