EDMONTON, June 26, 2018 /CNW/ - Altiplano Minerals Ltd. (APN: TSXV) (ALTPF: OTCQB) (9AJ1: GR) ("APN" or the "Company") is pleased to report evidence for a second stage of mineralization at the historic Farellon Copper Gold Mine ("Farellon") near La Serena, Chile.
CEO John Williamson stated, "We are excited to have discovered evidence suggesting the occurrence of a second stage of Cu mineralization at Farellon. Evidence for this new form of mineralization is indicated by chalcopyrite infilling microfractures in porphyritic andesitic dikes that crosscut the Farellon vein; weak potassic alteration observed in those dikes; and breccia fragments of the vein cemented by a mineralized magmatic rock observed in the NE395M level. In addition, non-linear magnetic anomalies identified with ground geophysics may indicate the presence of porphyry-type mineralization postdating the IOCG veins. This increases substantially the economic potential of the district. The Company will commence academic studies and additional fieldwork studies, including microscopic analysis of both mineralization and host rocks; trace elements and whole rock geochemistry; and radiogenic dating of magmatic rocks and mineralization, aimed at gaining a better understanding of the mineralizing processes within the district. Exploration for both IOCG veins and porphyry-type mineralization will continue at Farellon".
Surface and underground mapping have helped to elucidate the crosscutting relationships between different magmatic units and IOCG veins (Figure 1).
The main IOCG veins are hosted by a diorite–granodiorite with phaneritic texture and less importantly, by a recrystalized andesite that shows a range of textures including magmatic breccia textures. The IOCG veins are crosscut by porphyritic andesitic dikes that occasionally show minor potassic alteration (shreddy biotite disseminated in the matrix) and dissemination of chalcopyrite controlled by fractures (Figures 1 and 2a). This evidence opens the potential to find porphyry-type copper mineralization overprinting IOCG veins within the Farellon and neighbouring properties. Non-linear magnetic anomalies roughly correlate with surface outcrops of porphyritic andesite and may indicate mineralization at depth. This assumption is supported by the fact that the Andacollo porphyry copper-gold deposit is located only 12 km southeast of the Farellon property. Additionally, the Farellon vein shows evidence of post-mineralization tectonic deformation and brecciation cemented by a magmatic rock (possible diorite) with dissemination of chalcopyrite (Figure 2b). This evidence is observed at the NE395M level where the vein expands up to 8 m wide and indicates that the widening of the vein was caused by geological processes post-dating the IOCG vein formation. Presently, APN has developed ~30 m within the wider zone with an average grade of 1.72 % Cu (Figure 3).
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.apnmetals.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.
For further information: Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-1467