EDMONTON, Sept. 28, 2018 /CNW/ - Altiplano Metals Inc. (TSXV: APN) (OTCQB: ALTPF) (GER: 9AJ1) ("APN" or the "Company") is pleased to report that proceeds to date from the sale of mineralized vein material have surpassed $500,000, partially funding the continued progress of its operations at the historic Farellon Copper-Gold Mine ("Farellon") near La Serena, Chile, as the Company applies lessons and pursues opportunities identified from bulk sampling of the 395M Level to test the continuation of a high-grade zone to the 401M Level.
CEO John Williamson stated, "According to the information we have collected from the 395M Level, we expect to enter a high-grade zone as we continue developing the 401M Level to the NE. The experience we have gained with our previous bulk sampling indicates that the vein width and grade distribution at Farellon may allow for selective extraction of high-grade mineralized material. Within the next stage of bulk sampling (October to December), we will test our ability to minimize dilution by extracting selectively higher-grades and whether the operating parameters are sustainable within a low copper price environment. This will allow us to re-assess the bulk sampling outcomes under current criteria and conditions in order to further refine our operating strategy, leading to a resource update in the New Year."
APN has developed a total of 160 m along the Farellon vein at the 401M Level. The best grade-width intervals of systematic continuous chip channel sampling yield an average of 1.53 % Cu; 0.12 g/t Au; and 43.38 % Fe with an average width of 1.55 m. The minimum width is 0.82 m with 3.13 % Cu; 0.10 g/t Au; and 47.76 % Fe and the maximum width is 3.49 m with 2.81 % Cu; 0.14 g/t Au; and 39.81 % Fe.
Information collected from the 395M level shows that the 401M is entering a higher-grade zone that extends for ~55 m (Figure 1). The best grade-width average for this zone yields 3.89 % Cu; 0.16 g/t Au; and 40.16 % Fe with an average width of 1.65 m. The highest grade across 1.55 m is 9.91 % Cu; 0.25 g/t Au; and 29.62 % Fe. A second zone (42 m length) of wider vein shows a best grade-width average of 1.70 % Cu; 0.12 g/t Au; and 36.88 % Fe with an average width of 3.89 m. The width in this zone ranges from 1.4 to 5.9 m. All widths are reported as true width. Best grade-width intervals for continuous chip channel sampling have been calculated excluding samples either from the foot-wall or hanging-wall vein contacts, which consist of apatite/actinolite with lower Cu grades (<0.5 % Cu). Selective extraction of high-grade mineralized material with a minimum of 0.82 m is possible and allows for grade control to adapt within the lower price environment.
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
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither 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. 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