Exciting Developments at Farellon Mine
Production at the 336m level has yielded impressive copper grades averaging around 1.86% and an even higher 2.44% in the NE direction. This success has led the team to explore the potential of the 326m level, where previous observations and drill hole intercepts indicate the presence of similarly high-grade copper mineralization. The plan is to blend the high-grade material from the 326m level with lower Cu grade/high iron grade to the southwest, leveraging existing underground infrastructure to ramp up production to 5,000 tonnes per month. This increase will ensure a steady supply to the processing facility at El Peñón over the coming months, optimizing the processing grades for copper, gold, and iron recovery.
CEO Alastair McIntyre is confident about the new opportunities brought forth by the 326m production level. “Access to this level opens up new mineralized zones and contributes to the ongoing development at Farellon. The increased copper grades on lower levels, coupled with additional working faces, enhance our productivity and grade control,” he remarked.
Figure 1: Farellon Mine Section
The company has shown significant financial gains, generating over US$14.9 million from the recovery and sale of more than 6.55 million pounds of copper at an average grade of 1.8% Cu. These funds have been reinvested into various operational enhancements and developments at Farellon and the El Peñón processing facility, emphasizing Altiplano’s commitment to sustainable growth and stakeholder value creation.
About Altiplano Metals
Altiplano Metals is a dynamic firm with diverse assets in gold, silver, and copper across the Americas. With an operational copper/gold/iron mine and a cutting-edge processing facility in its arsenal, the company is strategically positioned for long-term success. Altiplano’s management team boasts a successful track record of seizing opportunities, overcoming challenges, and delivering value to shareholders.
John Williamson, a Qualified Person as per NI 43-101, has reviewed and endorsed the technical aspects of this update.
Altiplano Metals falls under the Metals Group umbrella, known for its technical excellence, meticulous project selection, and unwavering commitment to robust corporate governance. The Group has a proven track record of capitalizing on investments and delivering substantial returns to shareholders.
ON BEHALF OF THE BOARD
John Williamson
Chairman
For further information, please contact:
Alastair McIntyre, CEO
alastairm@apnmetals.com
Tel: (416) 434 3799
Disclaimer: The decision to commence production at the Farellon deposit is not based on a feasibility study of mineral reserves, leading to increased uncertain economic and technical risks. Investors should consider this risk factor when evaluating opportunities. For full details, please visit the source link here.