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Altiplano Signs Option Agreement to Acquire Santa Beatriz Cu-Au Mine
Edmonton, Alberta--(Newsfile Corp. - June 14, 2023) - Altiplano Metals Inc . (TSXV: APN) (WKN: A...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Signs Option Agreement to Acquire Santa Beatriz Cu-Au MineEdmonton, Alberta--(Newsfile Corp. - June 14, 2023) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report it has entered into an agreement for the acquisition of the Santa Beatriz Mine, located two kilometers (km) from the Company's existing operation at the Farellon Copper Gold Mine site near La Serena, Chile. Copper, gold, and iron mineralized material at the Santa Beatriz Mine is similar to what is currently extracted at Farellon and is expected to be suitable material for processing at the Company's mill and processing facility, El Peñón, located ~15 km from the mine. HighlightsLow-cost potential acquisition of past producer covering an area of 54 ha. Previous workings include two decline advances totaling 250 m and 180 m in length.The Santa Beatriz Mine is permitted by the Chilean Mining Authority, SERNAGEOMIN (Servicio Nacional de Geologia y Mineria) for ~ 2,000 tonnes per month (tpm) of production and can be expanded.Mineralized material at Santa Beatriz is of the same iron-oxide-copper-gold (IOCG) deposit type and style as that at Farellon. Copper, gold, and iron extracted from the Santa Beatriz Mine can be ideally suited for processing at the Company's El Peñón processing facility, entering startup phase in July.Material produced from the Santa Beatriz Mine has the potential to improve efficiencies and increase overall production at the Mill, maximizing the Company's monthly revenue opportunities.President and CEO, Alastair McIntyre, commented: \"We are very excited for the opportunity to begin work on the Santa Beatriz Mine. This project fits Altiplano's vision for consolidating projects located in proximity to our existing operations, with low start-up costs hosting excellent material for optimal production and processing. Acquiring an additional mine with ideal production material for Altiplano's mill and processing facility creates added flexibility and sustainability while providing the potential to add significant value for its shareholders.\"Figure 1 - Location of Farellon Copper Gold Mine, processing facility, and Santa Beatriz Mine.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4303/169889_49dd37ad1461183c_001full.jpgFigure 2...