APN: TSXV
ALTPF: OTCQB
9AJ1: FWB
EDMONTON, June 8, 2018 /CNW/ - Altiplano Metals Inc.
(TSXV: APN) (OTCQB: ALTPF) (FWB: 9AJ1) ("APN" or the
"Company") is pleased to update progress at the historic
Farellon Copper-Gold Mine near La Serena, Chile.
CEO John Williamson stated, "We
are excited about our progress to date and our prospects for the
future. Through professional management of extraction methods and
operations, our team has rapidly and continuously improved capacity
to the point where we are confident in our ability to consistently
meet or exceed extraction rates of 5,000 tonnes per month of Cu-Au
mineralized material. In the third quarter of 2018, we anticipate
achieving several milestones, including hitting our target for
extraction and potentially updating the classification of resources
and initiation of work programs on our other projects. With recent
additions to management, we will focus our attention on expansion
of existing operations and new opportunities to deliver shareholder
value."
Since December 2017, the Company
has extracted a total of 10,585 tonnes of Cu-Fe-Au mineralized vein
material from two bulk sampling programs on the 395M and 401M
Levels, of which 6,020 tonnes have been shipped for toll milling
and 3,655 tonnes remain stockpiled. The Company has received
analytical results for 5,489 tonnes of the processed material and
awaits analysis for 530 tonnes. Shipment of the remaining
stockpiles for immediate processing has commenced. The Company and
its contractors have steadily increased productivity over the last
3 months and are on pace to achieve 5,000 tonnes in the coming
month. Table 1 shows monthly volumes of Cu-Au material extracted
since bulk sampling activities commenced in November of 2017.
As announced on April 10, 2018,
the Company estimated an inferred mineral resource at Farellon of
278,360 tonnes at an average grade of 1.92% Cu and 0.12 parts per
million (ppm) Au at a lower cutoff of 1.0% Cu and utilizing a
minimum horizontal width of 1.2 m.
The actual average higher-grade vein width from all sampling is
1.84 m. With continued exploration,
it is reasonably expected that the majority of the Company's
inferred mineral resources at Farellon could be upgraded to
indicated mineral resources. Inferred mineral resources are not
mineral reserves. Mineral resources which are not mineral reserves
do not have demonstrated economic viability. There is no guarantee
that any part of the mineral resources discussed herein will be
converted into a mineral reserve in the future. Should a production
decision be made without completing a feasibility study
demonstrating economic and technical viability, there would be
increased uncertainty as well as economic and technical risks
associated with such production. No production decision has been
made at this time.
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.
About Altiplano
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 opportunity, overcoming challenges and building
shareholder value. Additional information concerning Altiplano
can be found on its website at www.altiplanominerals.com.
ON BEHALF OF THE BOARD
/s/ "John
Williamson"
President and CEO
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.
SOURCE Altiplano Metals Inc.
