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Altiplano Reaches New 336 m Operating Level at Farellon
Edmonton, Alberta--(Newsfile Corp. - August 31, 2023) - Altiplano Metals Inc . (TSXV: APN) (WKN:...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reaches New 336 m Operating Level at FarellonEdmonton, Alberta--(Newsfile Corp. - August 31, 2023) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report that a new operating section has been established at the 336 m mining level at the Farellon copper-gold mine located near La Serena, Chile. Access to the 336 m level is part of the ongoing underground development of the Hugo Decline, used to access and extract copper-gold and iron material from Farellon.Sub drifts on the 336 m level have intersected the Farellon Iron Oxide Copper Gold vein structure with two new production headings established in the NE and SW directions. Mining in this area has begun, along with benching operations continuing between the ceilings and floors of the 344 m and 352 m levels. Further development of the Hugo Decline to the 328 m level is expected to begin in the next four weeks, with a time frame of approximately 12 weeks to reach the new targeted intersection. Additional tonnage will be mined from the SW location of the mine using existing underground infrastructure to increase production to 5,000 tonnes per month to supply the processing facility at El Peñón over the following months.CEO Alastair McIntyre comments: \"Intersection of the 336 m level is part of our ongoing development plans to increase production levels and manage grade control. This new area at depth compliments the existing development in the upper levels of the mine. Together, these areas will support increasing our mining output and productivity.\"Figure 1. Farellon Mine SectionThe decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with the production decision.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4303/179194_9bf6b85e947648a6_001full.jpgFigure 2. 336 m NE Operating HeadingTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4303/179194_9bf6b85e947648a6_002full.jpgAltiplano has generated over US$12.8 million from the recovery and sale (after processing costs) of more than 5.7 million pounds of copper with an average ...