Building Sustainable Value
KNOWLEDGE. VISION. INNOVATION
The company’s main asset, Farellon, is an Iron Oxide Copper Gold vein system located near the town of La Serena, Chile. The company acquired the project in 2017 and has been recovering copper/gold mineralized material from a series of underground workings at numerous levels. As of 2021 Q1, the company has mine more than 3.1 million pounds of copper at an average grade of ~1.83% and has been cash flow positive at Farellon for numerous consecutive quarters. To support the operations at Farellon, Altiplano is currently in the process of constructing a mill and processing facility located 15 km from the mine site capable of processing 250 tonnes/day. Most of the civil work to prepare for final construction has been completed in advance of the final approval process.
Altiplano recently entered into a new arm's-length option agreement on the Maria Luisa project, whereby the Company may acquire a 100% undivided interest in the Property for a total acquisition cost of US$2,000,000 over three years. This Agreement replaces the current revenue sharing agreement on the Property, previously announced on August 27, 2020. Maria Luisa is a past producing high grade Au-Cu asset located near the town of Incahuasi, Chile.
Engineering studies are underway to potentially develop a decline system at Maria Luisa enabling the extraction of mineralized gold-copper material, targeted for Q3 2021. In addition, the company is reviewing a number of opportunities within a 100 km radius of La Serena that fit our production and development model. The company is also review gold and copper exploration projects that fall into our criteria of quality and scale to leverage our revenue generator model which provides investors exposure to cash flow and upside. Our goal is to have three cash flowing assets by in mid/late 2021.