EDMONTON, April 30, 2018 /CNW/ - Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the "Company") is pleased to report on new targets for further exploration at the historic Rosario Copper-Gold Mine ("Rosario"), near La Serena, Chile, including underground development, underground drilling and identification of potential sources for new mineralized vein material.
CEO John Williamson stated, "The positive results from our exploration of the historic Farellon mine were in line with the Company's expectations and, as a result, the Company has moved to accelerate exploration efforts on the nearby Laura and Rosario veins, which are part of the Farellon structural system."
At the historic Farellon Cu-Au Mine, detailed geological work has been completed, including underground infrastructure surveying, underground sampling, underground and surface mapping, and a 2,000 tonne bulk sample (released April 13, 2018). A second 5,000 tonne bulk sample at Farellon is nearing completion, with the results of this work having the potential to upgrade mineral resources at Farellon and help build a basis for analyzing economic potential going forward.
Over the past three months, the Company has also explored the Rosario and Laura Cu-Au vein systems, which are near the historic Farellon Mine and known to have had historic production. This exploration was comprised of surface and underground mapping, underground sampling and surveying, and surface ground geophysical surveying. The mineralogy and textures observed at the Rosario vein (see Photo 1 below) are similar to the Farellon vein, consisting of apatite/actinolite, magnetite and chalcopyrite-rich bands.
Assay results from underground channel sampling of Rosario include up to 6.1 % Cu in 0.5 m, consistent with grab sample results of up to 8.7 % Cu reported by Apex Geoscience Ltd. in their NI 43-101 Technical Report dated February 10, 2017 and filed on SEDAR March 10, 2017. These results are similar, or better, in grade and width than initial sampling at the nearby Farellon Vein system. In addition, results of ground magnetic surveying indicate strong anomalies that correlate with surface outcrops and underground mapping, suggesting continuation of the veins at depth and along strike (see Figure 1 below). Several larger magnetic anomalies that are off the known trend are defined, which may be an indication of undiscovered potential mineralization. Based on the results of fieldwork conducted and historical mining, the Company is moving forward with engineering work to provide for planned access to the Rosario Cu-Au vein system in anticipation of underground drilling and an initial 5,000 bulk sample.
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.
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