Altiplano Updates Ongoing Progress at the Farellon Copper-Gold Project in Chile APN: TSXV ALTPF: OTCQB 9AJ1: FWB
Altiplano Updates Ongoing Progress at the
Farellon Copper-Gold Project in Chile
APN: TSXV
ALTPF: OTCQB
9AJ1: FWB
EDMONTON
,
June 8, 2018
/CNW/ - Altiplano Metals Inc. (TSXV: APN) (OTCQB: ALTPF) (FWB:
9AJ1) ("
APN
" or the "
Company
") is pleased to update progress at the historic Farellon Copper-Gold
Mine near La Serena,
Chile
.
CEO
John Williamson
stated, "We are excited about our progress to date and our prospects for the
future. Through professional management of extraction methods and operations, our team has
rapidly and continuously improved capacity to the point where we are confident in our ability to
consistently meet or exceed extraction rates of 5,000 tonnes per month of Cu-Au mineralized
material. In the third quarter of 2018, we anticipate achieving several milestones, including hitting our
target for extraction and potentially updating the classification of resources and initiation of work
programs on our other projects. With recent additions to management, we will focus our attention on
expansion of existing operations and new opportunities to deliver shareholder value."
Since
December 2017
, the Company has extracted a total of 10,585 tonnes of Cu-Fe-Au mineralized
vein material from two bulk sampling programs on the
395M
and
401M
Levels, of which 6,020
tonnes have been shipped for toll milling and 3,655 tonnes remain stockpiled. The Company has
received analytical results for 5,489 tonnes of the processed material and awaits analysis for 530
tonnes. Shipment of the remaining stockpiles for immediate processing has commenced. The
Company and its contractors have steadily increased productivity over the last 3 months and are on
pace to achieve 5,000 tonnes in the coming month. Table 1 shows monthly volumes of Cu-Au
material extracted since bulk sampling activities commenced in November of 2017.
Table 1: Extraction Volumes per Month (CNW Group/Altiplano Metals Inc.)
As announced on
April 10, 2018
, the Company estimated an inferred mineral resource at Farellon of
278,360 tonnes at an average grade of 1.92% Cu and 0.12 parts per million (ppm) Au at a lower
cutoff of 1.0% Cu and utilizing a minimum horizontal width of
1.2 m
. The actual average higher-grade
vein width from all sampling is
1.84 m
. With continued exploration, it is reasonably expected that the
majority of the Company's inferred mineral resources at Farellon could be upgraded to indicated
mineral resources. Inferred mineral resources are not mineral reserves. Mineral resources which are
not mineral reserves do not have demonstrated economic viability. There is no guarantee that any
part of the mineral resources discussed herein will be converted into a mineral reserve in the future.
Should a production decision be made without completing a feasibility study demonstrating economic
and technical viability, there would be increased uncertainty as well as economic and technical risks
associated with such production. No production decision has been made at this time.
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.altiplanominerals.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.
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For further information:
Jeremy Yaseniuk, Director, [email protected], Tel: (604)
773-1467
CO: Altiplano Metals Inc.
CNW 03:05e 08-JUN-18