Business
Altiplano Reports On Q3 2021 Results at Farellon
Edmonton, Alberta--(Newsfile Corp. - November 15, 2021) - Altiplano Metals Inc . (TSXV: APN...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reports On Q3 2021 Results at FarellonEdmonton, Alberta--(Newsfile Corp. - November 15, 2021) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on the Q3 2021 results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. During Q3, 2021, the Company extracted a total 11,624 tonnes of mineralized Cu-Au material at Farellon and processed 7,635 tonnes at an average copper grade of approximately 1.38%. Sales of 221,518 pounds of copper generated approximately US$561,000 in revenue (after processing costs). At the end of September, the Company had 590 tonnes in stockpiles at the Farellon site to be shipped and 1,400 tonnes of low grade stockpiled material. The low grade stock will be processed at the APN mill site at a later date to recover the value of the contained copper and iron. The Company has currently an additional 1,540 tonnes in process at ENAMI. Total revenue since Q1 2018 generated at the Farellon operation now represents more than US$7,200,000 from the sale of approximately 3,596,616 pounds of copper.Total tonnes extracted in Q3 improved by 15% from the previous quarter. Processed material also improved in Q3 representing a 8.3% increase; however, overall grade declined by 7.3% from the second quarter. The decrease in grade is attributed to further development work in non-productive areas such as advancing the decline and preparation of bench mining in upper levels where at total of 7,970 tonnes of waste was removed. Going forward, the current work on the ventilation upgrade is providing opportunity to establish new mine headings expected to further grade control and output improvements. Completion of this work is expected in mid-December.CEO Alastair McIntyre comments, \"Our Q3 activities highlight our work on efficiency and sustainability improvements at Farellon by focusing on upgrading underground infrastructure in ventilation, advancing to new operating levels, and conducting underground drilling to confirm continuity of the mineralization at depth. This work will guide us to maximizing our output in Q1 2022.\"Figure 1. Quarterly Review of US$ Revenue and Copper Pounds SoldPeriodUSD RevenueCu Pounds SoldQ1 2020$320,960188,670Q2 2020$477,805310,255Q3 2020$827,298460,385Q4 2020$579,276322,130Q1 2021$544,019277,520Q2 2021$599,771220,6...