Altiplano Reports May 2022 Results at Farellon with Record Monthly Income
Altiplano Reports May 2022 Results at
Farellon with Record Monthly Income
Edmonton, Alberta--(Newsfile Corp. - June 16, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report on the May 2022 operating results from
the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.
During the month of May, approximately 3,432 tonnes of mineralized copper-gold material was produced
at Farellon and approximately 2,750 tonnes were shipped and processed. A slight improvement is noted
in the amount produced in May over April; however, the amount of processed material improved by 23%
over the previous figure of 2,242 tonnes observed in April. The May copper grade at 2.0% decreased
slightly compared to the previous month observed at 2.07%.
The Hugo Decline advance to the 352 m
has been completed. This level is expected to be operational in the next two weeks when the SW and
NW subdrifts have been completed. These subdrifts will provide operational access to the high grade
mineralized zone in NE and SW directions on 2 new working faces.
Revenue generated in May was approximately US$377,545 after processing costs, representing the
highest monthly revenue figure recorded since Q1 2018. May revenue also represented a 19%
improvement over April's revenue of US$317,738. At May month end, an additional 380 tonnes were
stockpiled at the Farellon site with 1,180 tonnes in process at ENAMI.
The revenue from this material will
be credited in the following months after processing has been completed. A total of 1,850 tonnes are
stored at the El Peñón processing facility in advance of startup. Newly mined material will be split
shipped between ENAMI and El Peñón to maximize revenue and manage cash flows as the mill
prepares to commence operation.
CEO Alastair McIntyre commented "We are very pleased to see the continuing trend of improved
revenues as we advance to deeper high grade operating levels at Farellon. Our improving output at
Farellon combined with record revenue figures bodes well as we transition to the mill start up at El Peñón
expected in a few weeks."
Figure 1. Comparative 2022 Income, Copper Contained and Grade
Month 2022
USD Income*
Copper Pounds
Cu grade %
January
$277,845
92,594
2.07%
February
$327,436
105,734
2.17%
March
$304,795
96,871
1,96%
April
$317,738
97,929
2.07%
May
$377,545
115,989
2.00%
*After processing costs
Figure 2. Comparative Monthly Output
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/128005_altiplanofigure2.jpg
Figure 3.
Jumbo Operating on the 360 m NE Drift
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4303/128005_altiplanofigure3.jpg
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 construction of the near completed El Peñón fit-for-purpose mill and
flotation plant located 15 km from the Farellon site.
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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