APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB
EDMONTON, Alberta, April 16, 2018 /PRNewswire/ -- Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the "Company") is pleased to report that toll milling of the mineralized vein material from its initial 2,000 tonne bulk sample at the 395M level of the Farellon Copper-Gold project, near La Serena, Chile, has been completed, generating gross proceeds to the Company of US$159,722 and averaging 1.89% Cu or US$80 per tonne.
CEO John Williamson stated, "The toll milling results for the initial bulk sample that was taken from our newly constructed decline are very close to the 1.92% Cu grade that APEX Geoscience had estimated in calculating our maiden inferred resource at Farellon, which we announced earlier this week. We are now using this initial experience to manage dilution and optimize grade while taking our second bulk sample of 5,000 tonnes from three sublevels. Our primary immediate-term objectives at Farellon are to prove our capability to extract 5,000 tonnes per month, as permitted, and to gather sufficient data to expand and upgrade our maiden inferred resource."
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 (see announcement of April 10, 2018). The completion of toll milling for the initial bulk sample of 2,000 tonnes provides the Company with its first revenue from the Farellon Project and helps to form a basis for analyzing its potential economics going forward. A second bulk sample of 5,000 tonnes is being collected from the 395M level and the newly created 401M and 414.5M levels. The opening of the these new sublevels for bulk sampling will enable comparative results that may be used to potentially convert the Company's existing inferred mineral resource estimate to the indicated and measured category. To date 2,158 tonnes of the 5,000 tonne bulk sample have been stockpiled, of which 836 tonnes have been shipped for toll milling.
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.
For further information please contact: Jeremy Yaseniuk, Director, jeremyy@altiplanominerals.com, Tel: (604) 773-1467