Altiplano Reports on Construction Progress at El Penon Processing Facility
Altiplano Reports on Construction Progress at
El Penon Processing Facility
Edmonton, Alberta--(Newsfile Corp. - February 8, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report on the ongoing construction activity at the
El Peñón processing facility being built to support copper-gold-iron production from the Farellon mine
located near La Serena, Chile.
Highlights
Altiplano obtained permit approval to construct and install the copper-gold flotation, iron magnetic
separation and a dewatering process in September 2021 (see
news release dated December 16,
2021
).
The work conducted and completed since September 2021 includes:
Installation of crushing, milling, and flotation equipment.
Installation of hoppers and conveyor system.
Shipment of dewatering and magnetic separation equipment to site.
Construction of 4 concrete platforms for the Cu-Au concentrate dewatering filter press
system, magnetic separation and tailings dewatering processes.
Electrical connection from principal power lines to main power room including connection to
hydraulic systems for crushing, milling and flotation processes.
Electrical connection to the diesel electricity generator to support back up power.
Next steps include:
Testing of the crushing, milling and copper-gold flotation concentrate circuit (February)
Complete building construction (February)
Installation of the iron oxide magnetic separation and dewatering equipment (March)
Begin shipment and stockpiling of production from Farellon to the plant site ( March)
Finalize dry stack tailings storage area (March)
Construct Cu and Fe concentrate product storage pads (March)
Installation of analytical laboratory (March)
First copper - gold concentrate produced (March)
CEO Alastair McIntyre comments, "We are very pleased with the construction progress at the mill site
where 90% of the work has been completed. Our team in Chile has done an excellent job working with
the government and local contractors to move the project towards completion. The next steps of
integrating the various processing components are the final steps to bring the plant circuit online."
Figure 1. Views of the Processing Plant
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/113082_c0b10f8704158a26_001full.jpg
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 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 of companies, managed by 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, President and CEO
Tel: (416) 434-3799
For further information, please contact:
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
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/113082