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Altiplano Reports July 2020 Results with Increased Tonnes Extracted and Expansion of Underground Development
Edmonton, Alberta--(Newsfile Corp. - August 6, 2020) - Altiplano Metals Inc . (TSXV: APN) (WK...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reports July 2020 Results with Increased Tonnes Extracted and Expansion of Underground DevelopmentEdmonton, Alberta--(Newsfile Corp. - August 6, 2020) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on the July 2020 production results from the historic Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. Farellon is a high-grade Iron-Oxide-Copper-Gold system with a 5,000 tonnes/month license and permit. Altiplano has been recovering Cu-Au mineralized material from an underground decline through a series of drifts. Since Q1 2018, the Company has extracted approximately 2.24 million pounds of copper from mineralized copper material with an average copper grade of 1.80%. Cost reductions and grade control at Farellon have generated seven consecutive quarters of positive cash flow. Altiplano completed an approximate 100 m extension of the Hugo decline in late April of 2020 to access new mineralized copper-gold zones at the 382 m level. To date, Altiplano has conducted 110 m of drifting along the NE-SW 382 m access level. In addition, the Company began extraction at the new 389 m level in June and now operates a total of four working faces.During July 2020, Farellon produced approximately 4,100 tonnes of mineralized Cu/Au material at an approximated grade of 1.8% copper, and shipped a total of 3,762 tonnes for processing. July activity demonstrated a 63.6% increase in production and a 34.4% increase in tonnes shipped compared to June 2020. In addition, a total of 1,400 tonnes are currently stockpiled to be shipped in August. Table 1: Comparative 2020 Monthly Review of Farellon Output and ShipmentsTo view an enhanced version of Table 1, please visit:https://orders.newsfilecorp.com/files/4303/61179_2fb1eec2c4614a1c_001full.jpgThe Company also announces that Farellon will begin further development of the Hugo Decline in the next week to extend the underground workings and access the 376 m level. This will provide access to two additional working faces at the new 376 m working level bringing the total to six working faces. The Hugo decline extension will be approximately 50 m and will be completed in approximately 6 weeks in tandem with ongoing monthly production.Figure 1: Illustration of Underground Operations at FarellonTo view an enhanced version of Figure ...