During Q2, 2023, the Company extracted a total 8,315 tonnes of mineralized Cu-Au material at Farellon. This represents an increase of 8% from the 7,675 tonnes of material mined in Q1. Tonnes processed in Q2 represented 7,883 tonnes, an increase of 4% from the previous quarter of 7,584 tonnes. The copper grade recovered was 1.75%, down 13% from the previous 2023 Q1 result of 1.90%. Waste removal increased by 400% to 3,262 tonnes in 2023 Q2 as development progressed to the 336 m operational level. Sales of 294,162 pounds of copper in 2023 Q2 generated approximately
At the end of
President and CEO
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 the production decision
Second quarter activity at Farellon was focused on the continuation of mining at level the 352 m level in the NE and SW directions. Bench mining was initiated on the 360 m level between the 368 m and 360 m levels. Mining on the 344 m level continued in the SW and NE levels where most of the mineralized material (4,939 tons) was extracted during the quarter. The advance of the main decline continued towards level 336 where a total development of 25 m was completed by the end of June. The 336 m operational level is expected to be reached in mid-August providing additional working faces to the NE and SW and access to levels above for bench mining.
Altiplano has generated over
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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 any historical estimates as current mineral resources or mineral reserves. 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.sedarplus.ca.
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