APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB
EDMONTON, Jan. 31, 2018 /CNW/ - Altiplano Minerals
Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the
"Company") is pleased to provide an update for January's
activities of its Farellon Copper-Iron-Gold Project at the Historic
Farellon Mine, near La Serena Chile. The Company has
completed the initial 2,000 tonne bulk sample of Cu-Fe-Au vein
material. To date, the Company has shipped a total of 867.19
tonnes of the bulk sample material for processing.
During January 2018, the Company
removed 2,000 tonnes of Cu-Fe-Au vein material from the
395M Level drift for bulk sampling.
Processing results for the first 263.19 dry tonnes of the
2,000 tonne bulk sample are shown in Table 1 below. These
results can be compared with the 395
M chip sample results in Table 2 below. The
395M results show that the chip
sample results have an approximate average of 2.99% Cu and
processing of the bulk sample shows a grade of 2.36% Cu for the
first 263.19 dry tonnes. The Company estimates that the upper
end of the grade range for the 395M
zone is approximately 2.99% Cu and that mining dilution accounts
for the differences observed.
CEO John Williamson stated,
"Since commencement of the Farellon Project we have targeted an
average grade of greater than 2% Cu as a benchmark for proceeding
with a second larger 5,000 tonne bulk sample. Initial results
for processing of the Farellon bulk sampling material have been
very encouraging as our grab sampling, chip sampling, drilling and
bulk sampling so far have all confirmed that Farellon has the Cu
grade to warrant further testing with an emphasis on grade control,
costing and mining parameters to facilitate a technical report.
Once all of the bulk sample material has been processed, we
will determine next steps."
Table 1. COPPER PROCESSING RESULTS FROM 263 DRY TONNES COLLECTED
FROM THE 395M LEVEL DRIFT
Wet
Tonnes
|
|
Humidity
|
|
Dry
Tonnes
|
|
Copper
Grade
|
|
|
(%)
|
|
|
|
(%)
|
32.80
|
|
2.40
|
|
32.013
|
|
2.33
|
37.73
|
|
2.70
|
|
36.711
|
|
2.40
|
29.14
|
|
2.00
|
|
28.557
|
|
2.64
|
31.44
|
|
4.00
|
|
30.182
|
|
2.79
|
18.94
|
|
4.00
|
|
18.182
|
|
2.21
|
29.18
|
|
4.00
|
|
28.013
|
|
2.02
|
31.52
|
|
4.00
|
|
30.259
|
|
2.23
|
27.17
|
|
2.00
|
|
26.627
|
|
2.13
|
34.01
|
|
4.00
|
|
32.650
|
|
2.38
|
271.93
|
|
3.23
|
|
263.194
|
|
2.36
|
Table 2. SELECTED COPPER GRADE-WIDTH CHIP SAMPLING RESULTS FROM
395-METRE LEVEL DRIFT*
Line
No.
|
True
width
|
Copper
|
Iron
|
Gold
|
|
(m)
|
(%)
|
(%)
|
(ppm)
|
|
|
|
|
|
NE_L1
|
1.72
|
2.27
|
47.58
|
0.08
|
NE_L2
|
2.01
|
1.38
|
54.94
|
0.04
|
NE_L3
|
2.25
|
2.19
|
48.82
|
0.06
|
NE_L4
|
1.95
|
3.08
|
49.23
|
0.25
|
SW_L1
|
1.68
|
3.52
|
46.11
|
0.28
|
SW_L2
|
1.09
|
3.57
|
44.47
|
0.16
|
SW_L2A
|
1.49
|
1.78
|
42.76
|
0.22
|
SW_L3
|
1.31
|
1.43
|
41.56
|
0.05
|
SW_L4
|
1.17
|
1.50
|
27.27
|
0.15
|
SW_L5
|
1.75
|
2.78
|
52.69
|
0.16
|
SW_L6
|
1.65
|
5.58
|
50.23
|
0.30
|
SW_L7
|
1.68
|
4.64
|
38.83
|
0.18
|
SW_L8
|
1.50
|
4.03
|
49.35
|
0.34
|
SW_L9
|
1.90
|
3.79
|
37.74
|
0.21
|
*These results are released in their entirety on January 18, 2018.
As part of its ongoing 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. 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