Altiplano Reports Full Year of Cash-Positive Operations in Chile
Edmonton, Alberta--(Newsfile Corp. - November 7, 2019) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report the Q3 July - September results at the historic Farellon Copper-Gold Mine near La Serena, Chile.
Chairman John Williamson stated, "We are thrilled that the Farellon project has maintained positive operating results for an entire year. We have consistently extracted and processed Cu concentrate during this low copper price environment and are continuing to evaluate our efforts to move this project towards a potential commercial decision. We are excited at the potential to construct our own processing facility in close proximity to Farellon, which is anticipated to reduce our transportation and processing costs, ultimately improving our operating results significantly."
Between July 1st and September 30th, the Company extracted 5,578 tonnes of mineralized material at Farellon and processed 6,411 tonnes at an average grade of 1.66% Cu. Compared to the previous quarter, this represents a 20% decrease in tonnes extracted and 3% decrease in copper grade achieved. The Company received US$460,801 for the sale of this material during the quarter.
For the past year, Altiplano has consistently extracted and processed an average of 120-130 tonnes per month of Cu concentrate at an average of 24%-26% copper. In the spring of 2019, Altiplano achieved a milestone of 1 million pounds of copper processed and sold since the start of bulk sample evaluations. As of September 30, the Company has 1,412 tonnes in stockpiles at the Farellon site.
John Williamson, P.Geol., President and Chairman of 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. (TSXV: APN) 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, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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.
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