Highlights
A total of 20 holes have been drilled at Farellon completing the program with a cumulative total of 3,634 metres of drilling.
All additional holes have intersected the mineralized vein system at depth observed up to 24 m below the current 360 m operational level and along the NE-SW strike extensions.
Exploration holes at
The drill results further demonstrate the mineralized areas observed in the core are consistent with the mineralized areas of the upper zones of the Farellon vein system that were previously drilled and consistent with results from the ongoing mining operations. Since 2018, the grade at Farellon has averaged 1.74% Cu through the extraction and sales of Cu-Au material.
Overall, the drill results are excellent and support the potential to increase the amount of mineralized tonnage available for extraction along strike and at depth.
The El Penon processing facility, currently in construction, will include an iron separation unit which will provide opportunity to capture significant secondary revenue from the sale of iron in future operations. Altiplano expects to utilize lower grade copper zones in the coming quarters with additional revenue expected from iron recovery.
In the 20 reported intervals from the completed drill campaign, the average iron content is 35.5%.
CEO
With the completed Farellon drill program, the company-owned drill rig was recently moved to Maria Luisa to prepare for an approximately 5,000-metre surface and underground exploration drilling program. This work is designed to: supplement ongoing underground sampling, surveying and mapping activities, and test new and prospective exploration targets in support of outlining gold-copper mineralization available for extraction.
Altiplano has generated over
About Altiplano
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. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating the historical estimates as current mineral resources or mineral reserves. The Farellon mine was previously in production dating back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. 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.
Contact:
Tel: 1-780-437-6624
Fax: 1-780-439-7308
Email: accounting@apnmetals.com
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