Altiplano Achieves Higher Grades, Lower Dilution And Reduced Costs At The Historic Farellon Cu-Au Mine, Chile
EDMONTON, November 20, 2018 – Altiplano Metals Inc. (TSXV: APN) (OTCQB: ALTPF) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to report results from a revised extraction plan designed to test viability of operations based on the current environment of lower copper prices, at the historic Farellon Copper-Gold Mine near La Serena, Chile.
CEO John Williamson stated, “We would like to thank Salvatore Peralta for his contributions and wish him well in his Ph.D. studies. Since his departure, we have developed a six-month operating plan to determine viability of extraction at lower copper prices. Results from the latest 2,445 tonnes extracted during October show considerable improvement through minimizing dilution and reducing costs. With the latest cost reductions, increased productivity, and higher recoveries achieved at the treatment plant, we are well positioned to benefit from potentially increased copper prices in the medium term.”
During October, the extraction of 2,445 tonnes of material from the 401M and 395M levels yielded an average grade of 1.50% copper. These results show an improvement of 0.4% Copper compared with previous averages during August-September. Based on early 2018 results from this section of the mine, further improvement of grades is expected.
To combat dilution, where possible, lower grade shoulders are being left on the walls and only the higher- grade portions are being extracted. As a result, copper recoveries during processing have increased to 94.9%. This current phase of mineral extraction focuses on grade control and is planned to run into January 2019. The intention is to test operational capability to extract copper-gold material during a lower price environment and further refine costs structures.
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.
Altiplano Metals Inc. (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 on opportunity, overcoming challenges and building shareholder value. Additional information concerning Altiplano can be found on its website at www.apnmetals.com.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
For further information, contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.