APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB
EDMONTON, Jan. 19, 2018 /CNW/ - Altiplano Minerals
Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the
"Company") is pleased to announce that it has commenced
shipment of material from its ongoing initial bulk sampling program
at the historic Farellon Copper-Gold Mine near La Serena,
Chile, to a government-owned
regional toll mill for processing.
The initial bulk sampling program aims to extract and process
2,000 tonnes of Cu-Fe-Au mineralized vein material from the
395M exploration level, which is 50
metres below the historic Farellon Mine workings. To date, APN has
extracted approximately 1,700 of the 2,000 tonnes; shipped 600
tonnes for processing; and expects to continue shipping 50-100
tonnes per day for processing until the program is complete.
APN will compare results from this initial 2,000 tonne bulk
sample with chip sample results released January 9, 2018 and with results of the 2017
drill programs in order to make further refinements in the
extraction process before undertaking a 5,000 tonne bulk sample
program. This assessment will also feed into an independent
resource report commissioned January 15,
2018.
CEO John Williamson stated, "Our
team is excited about the potential that we are rapidly uncovering
at the historic Farellon Copper-Gold Mine and about the prospects
of applying our experience to accelerate the development there, as
well as at the historic Maria Luisa
Copper-Gold Mine. Upon completion of the current 2,000 tonne
program, we intend to carry out a further 5,000 tonne bulk sample
program in order to assess the processes and costs of extracting
and delivering 5,000 tonnes per month. We look forward to advancing
these projects and to delivering results for our shareholders in
2018 and beyond."
During January 2018, APN is
continuing to review and implement upgrades in safety
infrastructure, including: purchase and installation of a new 360
metre air ventilation system; construction of a 50 metre escapeway
and vent raise from the 325M level of
the Hugo Tunnel up to the historic Alemendro Tunnel; and
institution of air quality monitoring procedures. In addition,
older leased mining equipment is being replaced with newer
equipment for increased reliability and potentially higher work
volumes. APN has also retained technical consultants to work with
our local underground mining contractors to increase productivity
by implementing longer drill lengths, optimal blasting patterns and
other improvements.
All such activities, including receipt of the bulk sample
program and the other ongoing initiatives, are being carried out
with a view to determining the potential value and possible mining
activities that would be considered as part of a decision to carry
out further steps, including a possible future production decision.
There is additional risk in carrying out a bulk sampling program
where there are no resources or reserves, notwithstanding that the
property is a past small producer.
As part of its ongoing work program, Altiplano is carrying out
the recommendations contained in the APEX Report of
February 10, 2017 filed on SEDAR for the exploration
development of the Farellon project and is also relying upon past
production records, underground sampling and related activities and
current diamond drilling to estimate grade and widths of the
mineralization. There are no mineral resources or reserves on the
property and the current mineral exploration activities are
intended to be part of a program to determine if mineral resources
can be identified. On completion of the current program, the
Company intends to provide an update of the results
obtained.
No production decision has been made at this time. Should a
production decision be made without completing a feasibility study
demonstrating economic and technical viability, there would be
increased uncertainty as well as economic and technical risks of
failure associated with such a production decision.
Osbaldo Zamora Vega, 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.
About Altiplano
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