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Altiplano Reports Q2 2023 Operational Results at Farellon
Edmonton, Alberta--(Newsfile Corp. - August 22, 2023) - Altiplano Metals Inc . (TSXV: APN) (WKN:...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reports Q2 2023 Operational Results at FarellonEdmonton, Alberta--(Newsfile Corp. - August 22, 2023) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on quarterly results for Q2 2023 from the Farellon Copper-Gold-Iron (Cu-Au-Fe) mine located near La Serena, Chile. During Q2, 2023, the Company extracted a total 8,315 tonnes of mineralized Cu-Au material at Farellon. This represents an increase of 8% from the 7,675 tonnes of material mined in Q1. Tonnes processed in Q2 represented 7,883 tonnes, an increase of 4% from the previous quarter of 7,584 tonnes. The copper grade recovered was 1.75%, down 13% from the previous 2023 Q1 result of 1.90%. Waste removal increased by 400% to 3,262 tonnes in 2023 Q2 as development progressed to the 336 m operational level. Sales of 294,162 pounds of copper in 2023 Q2 generated approximately US$422,815 in revenue (after processing costs), a decrease of 22% over the 2023 Q1 US$539,300 sales figure.At the end of June 2023, the Company had 180 tonnes in stockpiles at the Farellon site and a total of 2,000 tonnes of stockpiles at the El Peñón mill site. An additional 8,000 tonnes of lower grade material are stockpiled at the Farellon site and ready to be shipped for processing at the El Peñón facility. The Company currently has 1,200 tonnes of material in process with ENAMI. This material will be processed for sale and the revenue will be realized in the coming months.President and CEO Alastair McIntyre comments: \"We are pleased to see consistent production, copper grade and sales of copper over the past several quarters in advance of transitioning the processing to El Peñón. Our mining methods, planning and grade control establishes the base line for expanding production to 5,000 tonnes per month to supply APN's processing facility where we can leverage increased output to reduce costs per tonne and recover both copper and iron.\"Figure 1. Quarterly Review of US$ Revenue and Copper Pounds SoldPeriodMinedUSD Revenue*Cu Pounds SoldCopper GradeQ1 20229,843$908,419295,1992.06%Q2 202210,742$967,685310,0621.96%Q3 202213,440$692,731297,4031.87%Q4 202211,340$691,103295,3972.05%Q1 20237,675$822,764307,1041.90%Q2 20238,315$745,162294,1621.75% * After processing costsFigure 2. Mined, Processed, Waste Removed a...