The ALTPF: OTCQB
EDMONTON, April 27, 2018 /CNW/ - Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the "Company") is pleased to report progress in its exploration of the historic Farellon Copper-Gold Mine ("Farellon") near La Serena, Chile, including a shift toward identification of new mineralized vein material.
CEO John Williamson stated, "The Company anticipates completion of our 5,000 tonne bulk sampling program at Farellon by the second week of May, which will be 7 weeks in total, versus the 12 weeks that it took for our initial 2,000 tonne bulk sampling program. We have charted our productivity (see Figure 1 below), which demonstrates an accelerated operating performance. We are committed to continuous improvement as we develop and test our capacity to extract up to 5,000 tonnes per month, while managing dilution and grade to achieve our target of 2% Cu. We will now expand our exploration program to different levels and extensions of the Farellon vein system in order to upgrade our inferred mineral resources."
During March 18 to 31st (weeks 12–13 in Figure 1 above), extraction of mineralized vein material at Farellon was deferred to complete an escapeway at the 235M Level, and the APN underground exploration team worked to remove waste for better airflow and access. Additionally, during this period the team added equipment to facilitate better operations, which is clearly reflected in the increased weekly productivity over the last 3 weeks.
The Company has extracted 3,745 tonnes of mineralized material as part of its ongoing 5,000 tonne bulk sampling program at Farellon. Of this material, 2,858 tonnes were collected from the 395M Level, and 887 tonnes were collected from 33.9m of development on the new 401.5M Sublevel. To date, 2,206 tonnes of this material have been shipped for toll milling, which remains in progress. The results of milling will be determined and reported in due course.
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