Altiplano Reports Results for Bulk Sample of the 395M Northeast Zone at Farellon Historic Mine, Chile
Altiplano Reports Results for Bulk Sample of
the 395M Northeast Zone at Farellon Historic
Mine, Chile
EDMONTON
,
Aug. 22, 2018
/CNW/ - Altiplano Metals Inc. (APN: TSXV) (ALTPF: OTCQB) (9AJ1:
GER) ("
APN
" or the "
Company
") is pleased to report the results of the 5,000 tonne bulk sample of
the
395M
northeast zone ("Bulk Sample") at the historic Farellon Copper Gold Mine ("
Farellon
")
near La Serena,
Chile
.
During the last quarter, the Company concluded the Bulk Sample with a total of 4,453 tonnes of
copper-bearing material having been extracted from the
395M
level. This material was sent to
various processing facilities and sold as either copper-bearing material or copper concentrate. The
average grade of this material was 1.77% Cu. The proceeds generated on the sale of copper-
bearing material or concentrate from the Bulk Sample averaged approximately
US$71
per tonne,
due in part to the price of copper having decreased approximately 20% over the past month.
Prior to these results, based on results from the initial 2,000 tonne bulk sample (which graded
1.89% Cu and returned proceeds of
US$80
per tonne at a price of
$3.00
Cu per tonne) and an
evaluation of its cost structure, APN had determined that private toll processing and producing
concentrate for sale was the best option going forward.
Under these new operating parameters, APN has continued extraction and testing from the
395M
level beyond the Bulk Sample stage, proceeding to open up and commence extraction and testing on
the
401M
and
414M
levels. With these adjustments, the average grade of copper shipped for
processing in the last month has increased to 1.91% Cu. The Company continues to improve its
grade control and extraction procedures to adapt within the lower price environment by both
lowering costs and increasing productivity going forward.
CEO
John Williamson
stated, "With innovation and rapid application of lessons learned through bulk
sampling, progress is consistently being made on our projects at the historic Farellon mine. As our
technical team continues to show flexibility in adjusting to market conditions, the Company is
progressing with a 6 month business plan and working towards an updated resource model in the
coming months. We expect copper prices to stabilize and our ability to work within the constraints of
tighter copper prices will enhance our prospectivity when copper prices readjust to supply and
demand".
Osbaldo Zamora Vega
, Ph.D, P.Geol., Vice President of Exploration for Altiplano, is the Qualified
Person as defined in National Instrument 43-101 who has reviewed and approved the technical
contents of this press release.
About Altiplano
Altiplano Metals Inc. (APN: TSX
V)
is a mineral exploration company focused on evaluating and
acquiring projects with significant potential for advancement from discovery through to production, in
Canada
and abroad. Management has a substantial record of success in capitalizing opportunity,
overcoming challenges and building shareholder value. Additional information concerning Altiplano
can be found on its website at
www.apnmetals.com
.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
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. 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
.
SOURCE
Altiplano Metals Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2018/22/c8123.html
%SEDAR: 00030745E
For further information:
Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-
1467
CO: Altiplano Metals Inc.
CNW 03:05e 22-AUG-18