Underground Exploration Commences at Historic Maria Luisa Gold-Copper Mine
EDMONTON, June 13, 2018 /CNW/ - Altiplano Minerals Ltd. (TSXV: APN) (OTCQB: ALTPF) (FWB:9AJ1) ("APN" or the "Company") is pleased to report commencement of underground drilling at the historic Maria Luisa Gold-Copper Mine ("Maria Luisa") near La Serena, Chile.
CEO John Williamson stated, "Recent underground sampling results from the lowest accessible level (841M) have confirmed the records of historic high-grade production at Maria Luisa. Based on this, APN has habilitated this level to accommodate underground drilling in order to confirm continuation of these grades at depth, and is planning to extract a 5,000 tonne bulk sample".
Historic production records cited by Apex in their February 10, 2017 Technical Report (news released March 15, 2017) show that veins at Maria Luisa yielded an average grade of 6.85 g/t Au and 1.89 % Cu in 600 tonnes mined between 2011 and 2015, including approximately 14 tonnes with 25.8 g/t Au and 1.69 % Cu. In 2017, APN reported channel chip samples of up to 25 g/t Au across 1.6 m (news released June 21, 2017), and recent channel sampling results (see Figure 2 below) have confirmed the presence of these high-grades at the lowest level with up to 19.21 g/t Au and 2.27 % Cu across 1.1 m (see Figure 1 below).
Surface diamond drilling completed in 2017, intersected continuation of the veins ~50 m underneath the 841M Level, but poor core recovery of only 50% indicates that the grades assayed, albeit good (1 m @ 6.95 g/t Au and 0.03% Cu), may have underestimated the true grade. The Company will now conduct an underground drilling program of 3 fences of 3-4 short holes close to the observed high-grade sources to better test the opportunity at Maria Luisa.
Between April and June 2018, the Company conducted underground work to expand the 841M level and improve access in order to accommodate new underground drilling where sampling and mapping have delineated high-grade gold and copper mineralization of similar tenor to the gold-copper ore mined and sold by historical operators.
Following the drill testing the Company intends to extract a 5,000 tonne bulk sample to confirm the potential to produce a 43-101 resource estimation. In order to extract this sample, the Company is planning to rehabilitate and deepen a shaft that presently goes from surface to the 858M level. The shaft will be extended down to the 835M level (23 m deeper), and will enable extraction of mineralized vein material from the bottom.
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.
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
Tel: (780) 966-7014
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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