EDMONTON, Aug. 8, 2018 /CNW/ - Altiplano Metals Inc.
(APN:TSXV) (ALTPF:OTCQB) (9AJ1:GER) ("APN" or the
"Company") is pleased to report on progress at the historic
Farellon Copper-Gold Mine ("Farellon") near La Serena,
Chile.
CEO John Williamson stated, "Our
in-country team continues to advance exploration at Farellon with
the goal of developing a long term plan. As new observations
and data have become available, we have been continually evaluating
extraction methods and processing options to form a basis for
future economic studies to assess the potential for scalable
extraction scenarios, as well as the possibility of initiating
commercial operations. In order to complete the detailed studies,
we will drive a ramp up to the 414M
level to the northeast above the 395M
level and to the 365M level. This
will allow us to test the extent and vertical continuity of a wide
high-grade zone located within the last 100 metres of our
exploration to date, which will lead us closer to a production
decision. Over the last quarter we have extracted an average of
3,200 tonnes per month, and anticipate extracting 4,800 tonnes in
July."
With the discovery of wider Cu-Au mineralized zones in the
northeast 395M level, the Company has
also recommenced advancement of the Hugo decline to the northeast
to gain access to the wider zone with the goal of intersecting the
Farellon vein system up to 50 m below
the current development.
During June, 2018 the Company completed extraction of its second
5,000 t bulk sample at Farellon. Of the 14,100 total tonnes of
Cu-Au mineralized vein material extracted from Farellon to date,
the Company has shipped 6,250 tonnes to a government processing
facility and contracted two separate private processing facilities
to process an aggregate of approximately 3,050 additional tonnes.
Between the government and private processing facilities, 9,300
tonnes have been processed to date and Cu-Au concentrate has been
shipped for sale. The Company has 6,000 tonnes of extracted Cu-Au
mineralized vein material that remain stockpiled for
processing.
The Company has been comparing technical results between the
government and private processing facilities. Processing of the
3,050 additional tonnes of extracted Cu-Au vein material at the
private facilities was supervised by the Company's metallurgical
engineer as due diligence to assess the potential for purchase by
Altiplano. It was determined that both private processing
facilities provided a suitable Cu-Au concentrate and would be
suited, with minor adjustments, to process the Company's extracted
material in the future. The Company is currently in negotiations to
pursue the possibility of purchasing a processing facility of its
own.
During June, 2018 the Company also has granted incentive stock
options to various directors, officers and consultants to purchase
up to 2,050,000 common shares exercisable on or before June 8, 2023 at a price of $0.30 per share.
Osbaldo Zamora Vega, Ph.D,
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 Metals Inc. (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.apnmetals.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 Metals Inc.