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Altiplano Announces Q1 2021 Results at Farellon
Edmonton, Alberta--(Newsfile Corp. - May 10, 2021) -   Altiplano Metals Inc . (TSXV: APN)...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Announces Q1 2021 Results at FarellonEdmonton, Alberta--(Newsfile Corp. - May 10, 2021) -  Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on the Q1 2021 results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. During Q1, 2021, the Company extracted a total 9,770 tonnes of mineralized Cu/Au material at Farellon and processed 8,055 tonnes at an average copper grade of approximately 1.53%. Sales of 257,500 pounds of copper generated approximately US$544,000 in revenue. Total revenue since Q1 2018 generated at the Farellon operation now represents more than US$6,000,000 from the sale of approximately 2.96 mm pounds of copper.Total extracted tonnes in Q1 declined by 19.5% from the previous record quarterly set in Q4 2020. Processed material was also lower in Q1 representing a 11.5% decrease from the previously strong quarter. Overall grade declined by 8.9% from Q4 2020. Grade and extraction declines are attributed to development work in non-productive areas and reduction in grade control as the benching process of removing ceilings between drift levels has begun. The grade is expected to improve in April as new headings are developed and with access to higher grade zones. At the end of March 2021, the Company had 1,600 tonnes in stockpiles at the Farellon site and an additional 1,428 tonnes in process. CEO Alastair McIntyre comments \"the work in Q1 2021 reflects our ongoing focus on development and sustainability. As we advance to additional headings at depth, and begin to mine within existing levels, this provides us the opportunity to improve output and increase efficiencies. Our next steps are to begin mining on the 369 m level in the NE and SW directions, following up with an extension to the 360 m level.\"Figure 1. Mined, Processed and Cu GradeTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4303/83337_77735d69a47f48cb_001full.jpg Figure 2. Processed Material, income vs. Mining CostsTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4303/83337_altiplano2.jpg  PeriodUSD RevenueCu Pounds SoldQ1 2020$320,960188,670Q2 2020$477,805310,255Q3 2020$827,298460,385Q4 2020$579,276322,130Q1 2021$544,019277,520Total$2,749,5001,558,950 Figure 3....