Altiplano Reports on Establishing New 344 m Mining Level at Farellon
Altiplano Reports on Establishing New 344 m
Mining Level at Farellon
Edmonton, Alberta--(Newsfile Corp. - December 14, 2022) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report the intersection of the 344 m mining level
as part of the ongoing underground development of the Hugo Decline at the Farellon copper gold mine
located near La Serena, Chile.
Cross cuts on the 344 m mining level have intersected the Farellon Iron Oxide Copper Gold vein
structure with production headings now established on the northeast and southwest directions. Mining in
this area has begun along with benching operations continuing between the roofs and floors of the 352 m
and 360 m levels. Further development of the Hugo Decline to the 336 m level is expected to begin in the
next four weeks with a time frame of approximately eight weeks to reach the new targeted intersection. In
addition, the Company is planning an underground drill program in the new year to intersect drill targets
below the current workings.
This program will be designed to increase the geological confidence by
extending the drilling intercepts in the Farellon vein system at depth and along strike.
CEO Alastair McIntyre comments: "We are pleased to see the operational advances continue
underground at Farellon with the intersection of this new production level. The 344 m level provides
additional production capacity and continues with our focus on sustainability and grade control at
Farellon."
Figure 1. Farellon Mine Section
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4303/147959_b7866cc6c4e35880_001full.jpg
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.
Figure 2. 352 m NE Operating Heading
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4303/147959_b7866cc6c4e35880_002full.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$10.5 million from the recovery and sale (after processing costs) of 4.77
million pounds of copper with an average grade of 1.8% Cu (2018 Q1-2022 Q3). 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, 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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