APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB
EDMONTON, Feb. 19, 2018 /CNW/ - Altiplano Minerals
Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the
"Company") is pleased to announce the commencement of a
5,000 tonne bulk sample and to provide a progress report for its
project at the historic Farellon and Maria
Luisa Copper-Gold mines.
Up to February 16, 2018, the
Company has taken a 2,000 tonne bulk sample of Cu-Fe-Au vein
material from the 395M Level drift.
To date, 946 tonnes of Cu-Fe-Au vein material have been shipped and
processed (Table 1). The remaining 1,054 tonnes are stockpiled on
site awaiting shipment for toll processing.
Table 1: Processed Cu-Fe-Au Vein Material
Date
|
Wet
MT
|
Humidity
(%)
|
Dry
MT
|
Copper Grade
(%)
|
nov-28
|
27,56
|
4,0
|
26,458
|
1,52
|
nov-28
|
25,06
|
2,1
|
24,534
|
1,86
|
nov-29
|
26,03
|
2,7
|
25,327
|
1,28
|
nov-29
|
25,12
|
4,0
|
24,115
|
1,23
|
Jan 05
|
32,80
|
2,4
|
32,013
|
2,33
|
Jan 08
|
37,73
|
2,7
|
36,711
|
2,40
|
Jan 08
|
34,18
|
2,4
|
33,360
|
2,45
|
Jan 09
|
29,14
|
2,0
|
28,557
|
2,64
|
Jan 10
|
31,44
|
4,0
|
30,182
|
2,79
|
Jan 11
|
18,94
|
4,0
|
18,182
|
2,21
|
Jan 11
|
29,18
|
4,0
|
28,013
|
2,02
|
Jan 11
|
31,52
|
4,0
|
30,259
|
2,23
|
Jan 12
|
27,17
|
2,0
|
26,627
|
2,13
|
Jan 12
|
34,01
|
4,0
|
32,650
|
2,38
|
Jan 15
|
27,32
|
3,0
|
26,500
|
2,28
|
Jan 15
|
24,85
|
2,8
|
24,154
|
1,90
|
Jan 15
|
25,28
|
3,0
|
24,519
|
2,33
|
Jan 16
|
25,43
|
4,0
|
24,413
|
1,68
|
Jan 16
|
26,02
|
3,9
|
25,018
|
1,80
|
Jan 16
|
29,05
|
4,0
|
27,888
|
1,86
|
Jan 16
|
24,85
|
2,0
|
24,353
|
1,83
|
Jan 17
|
24,64
|
2,0
|
24,147
|
1,54
|
Jan 17
|
26,86
|
2,0
|
26,323
|
1,32
|
Jan 17
|
27,38
|
2,0
|
26,832
|
1,75
|
Jan 17
|
25,52
|
3,9
|
24,525
|
1,27
|
Jan 18
|
26,18
|
4,0
|
25,128
|
1,61
|
Jan 23
|
24,05
|
4,0
|
23,393
|
1,66
|
Jan 23
|
24,49
|
4,0
|
23,821
|
2,44
|
Jan 24
|
25,80
|
4,0
|
25,096
|
2,09
|
Jan 24
|
27,40
|
3,3
|
26,496
|
2,65
|
Jan 25
|
26,68
|
2,0
|
25,954
|
2,19
|
Jan 25
|
23,27
|
2,0
|
22,637
|
2,31
|
Jan 25
|
27,86
|
3,0
|
27,102
|
2,40
|
Jan 25
|
15,27
|
2,0
|
14,965
|
1,82
|
Jan 26
|
27,94
|
2,0
|
27,381
|
1,99
|
|
946,02
|
3,00
|
917,634
|
2,030
|
The Company has submitted revisions of its toll milling
contracts ("Patrons") to include gold credits. Once approved,
Altiplano will re-commence delivery of Cu-Fe-Au stockpiles for
processing. Gross revenue received from the delivery and sale
of the initial 946 tonnes of Cu-Fe-Au material is US$73,000 including recuperation of IVA tax
credits.
During the month of February, the Company has extracted 300
tonnes of Cu-Fe-Au vein material from the 395M level. During the balance of the month, the
Company intends to open additional drift levels to increase the
volume of material accessible for future testing and toll
processing as part of its 5,000 tonne bulk sample.
CEO John Williamson stated, "We
are excited that sales of Cu-Au vein material have commenced. The
initial 2,000 tonne bulk sample clearly demonstrated that we have
the width, continuity and dilution control to achieve a grade of 2%
Copper, or greater. We have extracted up to 2,300 tonnes of
material per month and we'd like to expand our capacity to 5,000
tonnes per month. We are now undertaking a 5,000 tonne bulk sample
that will, in addition to providing information for resource
estimation, allow us to assess the costs, methods and
infrastructure required to optimize operations under Chile's progressive mining regime. We are
continuously upgrading our capability with the goal of improving
our processing capacity to 5,000 tonnes per month, while
maintaining grade and defining a maiden resource and reserve. So
far, everything is advancing as planned."
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