Altiplano Reports Results at Farellon for July 2021
Altiplano Reports Results at Farellon for July
2021
Edmonton, Alberta--(Newsfile Corp. - August 26, 2021) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to report on the July 2021 results from the Farellon
Copper-Gold (Cu-Au) mine located near La Serena, Chile.
During July 2021, Farellon extracted approximately 4,020 tonnes of mineralized Cu/Au material at an
approximate grade of 1.52% copper with shipments for processing totaling 2,831 tonnes. These figures
represent a 11.5% improvement from June in tonnes extracted and a 2% increase in the copper grade.
Revenue generated in July was approximately US$243,900 (after processing costs). Waste removal
increased in July, reflecting the ongoing development work of the Hugo decline extension and
preparation work for bench mining practices. At July month end, an additional 1,280 tonnes were
stockpiled at site and will be shipped in August for processing.
CEO Alastair McIntyre commented, "I am pleased to see that our positive July results highlight our focus
on continuation of the upward trend in improved grade and increasing output while working in tandem
with the ongoing development of our decline extension and sustainability work, such as the ventilation
improvements."
Figure 1. Comparative 2021 Monthly Review of Farellon Output
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Figure 2. Monthly Processed Material, Income and Mining Cost at Farellon
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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%
*
After processing costs
Figure 4. Illustration of Underground Operations at Farellon
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The decision to re-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.
During July, extraction of Cu/Au mineralized material focused on advancing the 376 SW and the 368 NE
levels. Bench mining continued on the ceiling of level 389 SW and preparation for benching has begun
on the 382 SW ceiling (Figure 4). Development work on the Hugo Decline continues with the advance to
the next access point at the 360 m level where to date, 70.5 m of the total 90 m required to reach the 360
m level have been completed. The decline advance is expected to be completed at the end of August
where an additional advance of 22 m will be required to reach to the vein intersection. This additional
work is expected be completed in September. The civil works for the new ventilation plan started with the
closure of selected areas of the Almendro Tunnel to support the improved airflow through the Hugo
Decline. In addition, the 125 HP fan platform has been installed with test phase preparation underway.
About Altiplano
Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on developing and acquiring
near term cash flowing assets and exploring for projects of significant scale. Altiplano's goal is to grow
into a mid-tier mining company through developing a portfolio of near-term production projects, cash
flowing assets, and exploration projects focusing on copper, gold and silver. Management has a
substantial record of success in capitalizing on opportunity, overcoming challenges and building
shareholder value.
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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