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Altiplano Completes 5,000 Tonne Bulk Sample and Assays up to 6.08% Cu at the Farellon Copper-Gold Project in Chile

Altiplano Minerals
2018-05-14 15:05 989

APN: TSXV
ALTPF: OTCQB
9AJ1: FWB

EDMONTON, Alberta, May 14, 2018 /PRNewswire/ -- Altiplano Minerals Ltd. (APN:TSXV) (ALTPF:OTCQB) (9AJ1:FWB) ("APN" or the "Company") is pleased to report results for underground sampling of the 395M and 401M Levels conducted between March and May, 2018, at the historic Farellon Copper-Gold Mine near La Serena, Chile.

CEO John Williamson stated, "We continue to gather data to expand and upgrade our maiden inferred resource at the Farellon Project. Recent exploration results show high-grade copper intervals at the recently opened 401M Level, and we are excited that the thickness of the 395 metre NE front of the vein has increased to at least 7 metres."

To date, underground chip sampling has covered 185 m along the 395M Level horizontal drift and 48 m along the 401M Level horizontal drift. Between March and April, 2018, 34 samples from 17 lines were collected and analyzed. Results from this period include: 2.09 m at 2.59 % Cu with 0.23 g/t Au (channel NE_L017 from the 395 M Level); and 2.42 m at 3.08% Cu with 0.16 g/t Au (channel NE_L001 from the 401M Level). The 48 m developed at the 401M Level during this period yielded an average width of 1.54 m with grades of 2.65% Cu and 0.18 g/t Au. The Company will continue developing, mapping, and sampling along the entire Farellon property, particularly on the 395M Level, 401M Level and the recently opened 414M Level.

Table 1. Results at the 395M and 401M Levels Obtained from late March to early May, 2018.

Channel

True
width

Au (g/t)

Cu %

Fe %

395NE_L017

2.09

0.23

2.59

38.34

395NE_L018

3.09

0.13

0.61

38.37

395NE_L019

0.45

0.09

1.48

50.94

395NE_L020

3.44

0.18

1.88

38.6

395NE_L021

4.7

0.11

1.45

36.77

395NE_L022

4.52

0.12

1.47

38.95

395SW_L016

2.31

0.11

1.47

45.49

395SW_L017

2.58

0.12

1.69

48.25

395SW_L018

0.85

0.05

1.23

49.73

395SW_L019

0.5

0.18

1.16

47.01

395SW_L020

0.95

0.19

1.32

49.4

395SW_L021

2.16

0.1

0.81

39.19

401NE_L001

2.42

0.16

3.08

44.7

401NE_L002

1.07

0.38

6.08

43.36

401SW_L001

1.77

0.1

1.45

35.16

401SW_L002

1.34

0.14

1.49

38.32

401SW_L003

1.11

0.18

1.75

45.4

 

Figure 1. Location of Channel Sampling Lines and Cu-Fe-Au at the 395M and 401M Levels Obtained from late March to early May, 2018
Figure 1. Location of Channel Sampling Lines and Cu-Fe-Au at the 395M and 401M Levels Obtained from late March to early May, 2018

 

Since December 2017, the Company has extracted a total of 6,917.01 tonnes of Cu-Fe-Au mineralized vein material from two bulk sampling programs on the 395M and 401M Levels, of which 5,061.44 tonnes have been shipped for toll milling and 1,855.57 tonnes remain stockpiled.  The Company has received analytical results for 3,369.39 of the processed tonnes and awaits analysis for 1,692.05 tonnes. As the second bulk sampling program of 5,000 tonnes nears completion, the Company is confident that the grade will remain within the expected average according to its maiden resource estimation.

The underground channel samples were analyzed at the independent laboratory, Actlabs, in Coquimbo, Chile. In addition to Actlabs' in-house QA/QC procedures, the Company inserted approximately 1 in 10 QC samples (standards, blanks, field and pulp duplicates) of its own into the sample sequence. The QA/QC results demonstrate an acceptable level of analytical precision and accuracy.

As announced on April 10, 2018, the Company estimated an inferred mineral resource at Farellon of 278,360 tonnes at an average grade of 1.92% Cu and 0.12 parts per million (ppm) Au at a lower cutoff of 1.0% Cu and utilizing a minimum horizontal width of 1.2 m. The actual average higher-grade vein width from all sampling is 1.84 m.  With continued exploration, it is reasonably expected that the majority of the Company's inferred mineral resources at Farellon could be upgraded to indicated mineral resources. Inferred mineral resources are not mineral reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. Should a production decision be made without completing a feasibility study demonstrating economic and technical viability, there would be increased uncertainty as well as economic and technical risks associated with such production. No production decision has been made at this time.

Osbaldo Zamora Vega, Ph.D, P.Geol., Vice President of Exploration for Altiplano, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical contents of this press release.

About Altiplano

Altiplano Minerals Ltd. (APN: TSX‐V) is a mineral exploration company focused on evaluating and acquiring projects with significant potential for advancement from discovery through to production, in Canada and abroad.  Management has a substantial record of success in capitalizing opportunity, overcoming challenges and building shareholder value.  Additional information concerning Altiplano can be found on its website at www.altiplanominerals.com.

ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the (TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

CONTACT: Jeremy Yaseniuk, Director, jeremyy@altiplanominerals.com, Tel: (604) 773-1467

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Source: Altiplano Minerals
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Keywords: Mining Mining/Metals
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