Altiplano Samples up to 6.21 % Copper And 0.44g/t Gold over 1.4 Metres Underground at Rosario
EDMONTON, September 1, 2020 – Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to announce results from recent underground geological mapping and channel sampling at the historic Rosario Copper-Gold mine located 600 m southeast of the Farellon Copper-Gold vein system, near La Serena, Chile.
During July, Altiplano’s technical team conducted an underground mapping and sampling program along the NE trending vein structure. Samples were taken approximately 15 m apart covering a total strike length of 181 m. Each sample was removed from a clean representative surface, blasted one meter below the floor level. The samples were cut to a depth of 8 cm with an average width of 15 cm and sampled across the length of the vein. The grades observed ranged from a low 0.08 g/tonne gold to a high of 1.04 g/tonne gold with a average of 0.37 g/tonne. Copper ranged from 0.89% to a high of 6.22% copper with a average of 2.88%.
CEO Alastair McIntyre commented “These results at the Rosario copper-gold vein system are similar to the early results underground sampling and drill results obtained at Farellon. We are encouraged by the higher gold content which is higher at Rosario than at Farellon. The Company has commenced initial planning and engineering studies to conduct an underground bulk sample program. McIntyre further comments, “The location of the fully permitted Rosario project is ideally located within 600 m of Farellon where we can leverage the available infrastructure, resources and services. Rosario fits within our goal of adding additional productive assets and consolidating regionally.”
The Rosario project hosts copper-gold mineralization found within a discrete and laterally continuous east-northeast trending vein system, predominantly hosted in a Cretaceous granodiorite. Similar to Farellon, the iron-oxide-copper-gold vein system occurs in a steeply dipping fault. The vein system is located approximately 600 m from Farellon and is accessible through historical decline workings. The vein system can be observed over a 259 m strike length ranging in widths from 1m to 3 m.
Table 1. Underground chip sample results
Figure 1. Location of Rosario in Proximity to Farellon.
Altiplano Metals Inc. (APN: TSX?V) is a Canadian mineral development Company focused on acquiring projects with significant potential for advancement from discovery through to production. Altiplano’s goal is to grow into a mid-tier mining Company through developing a portfolio of near-by production and cash flowing assets focusing on copper, gold and silver. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.
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 producing copper gold mineralized material from a series of underground workings at numerous levels. To date the Company has recovered more than 2.25 million pounds of copper at an average grade of 1.81% and has been cash flow positive at Farellon for 7 consecutive quarters.
John Williamson, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document
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ON BEHALF OF THE BOARD
/s/ "John Williamson"
For further information, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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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. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating the historical estimates as current mineral resources or mineral reserves. Any decision to commence production is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. 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.