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Altiplano Reports May 2022 Results at Farellon with Record Monthly Income
Edmonton, Alberta--(Newsfile Corp. - June 16, 2022) - Altiplano Metals Inc . (TSXV: APN) (WKN...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reports May 2022 Results at Farellon with Record Monthly IncomeEdmonton, Alberta--(Newsfile Corp. - June 16, 2022) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on the May 2022 operating results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.During the month of May, approximately 3,432 tonnes of mineralized copper-gold material was produced at Farellon and approximately 2,750 tonnes were shipped and processed. A slight improvement is noted in the amount produced in May over April; however, the amount of processed material improved by 23% over the previous figure of 2,242 tonnes observed in April. The May copper grade at 2.0% decreased slightly compared to the previous month observed at 2.07%. The Hugo Decline advance to the 352 m has been completed. This level is expected to be operational in the next two weeks when the SW and NW subdrifts have been completed. These subdrifts will provide operational access to the high grade mineralized zone in NE and SW directions on 2 new working faces. Revenue generated in May was approximately US$377,545 after processing costs, representing the highest monthly revenue figure recorded since Q1 2018. May revenue also represented a 19% improvement over April's revenue of US$317,738. At May month end, an additional 380 tonnes were stockpiled at the Farellon site with 1,180 tonnes in process at ENAMI. The revenue from this material will be credited in the following months after processing has been completed. A total of 1,850 tonnes are stored at the El Peñón processing facility in advance of startup. Newly mined material will be split shipped between ENAMI and El Peñón to maximize revenue and manage cash flows as the mill prepares to commence operation.CEO Alastair McIntyre commented \"We are very pleased to see the continuing trend of improved revenues as we advance to deeper high grade operating levels at Farellon. Our improving output at Farellon combined with record revenue figures bodes well as we transition to the mill start up at El Peñón expected in a few weeks.\"Figure 1. Comparative 2022 Income, Copper Contained and GradeMonth 2022USD Income*Copper PoundsCu grade %January$277,84592,5942.07%February$327,436105,7342.17%March$304,79596,8711,96%April$317,73897,9292.0...