Altiplano Metals Inc. reported it has initiated technical due diligence on the Santa Beatriz Copper-Gold mine and confirms similarities to the Farellon mine in mineralization, lithology, and structural trends. The Santa Beatriz Mine is located only 2 kilometres (km) by road from the existing operation at the Farellon Copper-Gold Mine near La Serena, Chile. Farellon and Santa Beatriz are situated in the north/northeast trending 1,000-kilometre Atacama Fault zone within Chile's copper-rich iron oxide copper-gold (IOCG) belt; this area is associated with several significant deposits. Farellon and Santa beatriz have the potential to be part of a larger IOCG system. The Farellon and Santa Beatriz properties are similar in lithology, structural setting, and mineralization styles. The Santa Beatriz property contains multiple steeply dipping, northeast-trending IOCG-type veins hosted in microdiorite and andesite. The two primary, historically mined veins, located in the southeast section of the property, are up to 1.5 meters wide and remain open along strike and at depth. Similar
structures in the region widen at depth, indicating the potential for expanded downdip continuity of mineralization. Seven smaller untested veins mapped at the Santa Beatriz project are up to 50 centimeters wide. Mineralization in veins includes chalcopyrite, bornite, and magnetite with abundant copper oxides. After reviewing and evaluating the existing datasets for Santa Beatriz, an initial exploration program has been formulated encompassing activities such as mapping, sampling, and drilling. The Exploration program is scheduled to commence in July 2023. Channel sampling and mapping of the veins underground and on the surface will aid in determining grade potential and extent. A 1,300-meter drill program is planned to validate the width and consistency of the veins at depth to determine mineralization and mining potential. A subsequent exploration program will include a detailed ground
magnetic survey to examine the potential depth and extent of the additional IOCG veins on the Santa Beatriz project; drilling of the veins would be required to validate the geophysics. The additional untested veins on the project have the potential to be included in the production of the Santa Beatriz project.