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Altiplano Reports Results for Bulk Sample of the 395M Northeast Zone at Farellon Historic Mine, Chile
Altiplano Reports Results for Bulk Sample of the 395M Northeast Zone at Farellon Historic ...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"\n\n\n\nAltiplano Reports Results for Bulk Sample of the 395M Northeast Zone at Farellon Historic Mine, Chile\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nEDMONTON, Aug. 22, 2018\n\n\n\nEDMONTON, Aug. 22, 2018 /CNW/ - Altiplano Metals Inc. (APN: TSXV) (ALTPF: OTCQB) (9AJ1: GER) (\"APN\" or the \"Company\") is pleased to report the results of the 5,000 tonne bulk sample of the 395M northeast zone (\"Bulk Sample\") at the historic Farellon Copper Gold Mine (\"Farellon\") near La Serena, Chile.\n\nDuring the last quarter, the Company concluded the Bulk Sample with a total of 4,453 tonnes of copper-bearing material having been extracted from the 395M level. This material was sent to various processing facilities and sold as either copper-bearing material or copper concentrate. The average grade of this material was 1.77% Cu. The proceeds generated on the sale of copper-bearing material or concentrate from the Bulk Sample averaged approximately US$71 per tonne, due in part to the price of copper having decreased approximately 20% over the past month.\n\nPrior to these results, based on results from the initial 2,000 tonne bulk sample (which graded 1.89% Cu and returned proceeds of US$80 per tonne at a price of $3.00 Cu per tonne) and an evaluation of its cost structure, APN had determined that private toll processing and producing concentrate for sale was the best option going forward. \n\nUnder these new operating parameters, APN has continued extraction and testing from the 395M level beyond the Bulk Sample stage, proceeding to open up and commence extraction and testing on the 401M and 414M levels. With these adjustments, the average grade of copper shipped for processing in the last month has increased to 1.91% Cu. The Company continues to improve its grade control and extraction procedures to adapt within the lower price environment by both lowering costs and increasing productivity going forward.\n\nCEO John Williamson stated, \"With innovation and rapid application of lessons learned through bulk sampling, progress is consistently being made ...