Altiplano Re-Commences Shipment under a Revised Processing Agreement, Updates Exploration Programs at Historic Farellon and Maria Luisa Mines
02 Mar, 2018, 16:05 ET
The ALTPF: OTCQB
EDMONTON, March 2, 2018 /CNW/ - Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the "Company") is pleased to update advancements in our exploration below the historic Farellon and Maria Luisa Cu-Au mines, La Serena, Chile.
The Company recently completed a revised processing agreement ("Padron") which includes the payments for gold and copper. Commencing February 26, 2018, APN resumed shipments of the remaining 1,054 tonnes of the initial 2,000 tonne bulk sample. During the period of February 16 to February 28, 2018, the Company also commenced removal of a 5,000 tonne bulk sample, of which over 600 tonnes of Cu-Au vein material was stockpiled for processing. Shipment of this material will be initiated following the completion of the initial 2,000 tonne bulk sample.
At the Farellon Project, the Company anticipates opening of crosscuts from the decline at the 408, 414, 421 and 427.5M levels, above the current 395M sublevel, to intersect the vein for mapping and channel sampling. Horizontal exploration drifts will be developed at the levels 408 and 421M for systematic sampling and mapping in preparation for a resource estimate. Information obtained from detailed surveying, drilling and 395M level drift sampling and mapping has been sent to APEX Geoscience Ltd. to determine a possible initial resource for the Farellon Project. APN expects to receive an updated 43-101 Technical Report within the next six to eight weeks.
The Company also commenced a detailed 5.4 km ground magnetic geophysical survey over the Farellon, Laura, and Rosario Cu-Au vein systems during February. The detailed geophysical surveys, in conjunction with detailed surface and underground mapping, will aid in the evaluation of the known high-grade copper veins with potential for discovery of additional veins.
At the Maria Luisa Project, APN has commenced expansion of the underground workings for improved access and underground drill locations. The Company anticipates completing further detailed underground drilling to define the geometry of the multi-phase Au-Cu system in the coming months.
CEO John Williamson stated, "We are pleased with the progress of our bulk sampling over the last few months and are excited that significant improvements in operations and site management will be reflected in our overall progress during March."
As part of its ongoing program, Altiplano is carrying out the recommendations contained in the APEX Report of February 10, 2017 filed on SEDAR for the exploration development of the Farellon project and is also relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization. There are no mineral resources or reserves on the property and the current mineral exploration activities are intended to be part of a program to determine if mineral resources can be identified. No
production decision has been made at this time. 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 of failure associated with such a production decision.
Osbaldo Zamora Vega, 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 Minerals Ltd. (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 Minerals
For further information: Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-1467
Share this article