Altiplano Minerals Ltd. (TSX-V:APN) (ALTPF:OTCQB) (9AJ1:FWB) is pleased to report results for underground sampling of the 395M and 401M Levels conducted between March and May, 2018, at the historic Farellon Copper-Gold Mine near La Serena, Chile.
CEO John Williamson stated, “We continue to gather data to expand and upgrade our maiden inferred resource at the Farellon Project. Recent exploration results show high-grade copper intervals at the recently opened 401M Level, and we are excited that the thickness of the 395 metre NE front of the vein has increased to at least 7 metres.”
To date, underground chip sampling has covered 185 m along the 395M Level horizontal drift and 48 m along the 401M Level horizontal drift. Between March and April, 2018, 34 samples from 17 lines were collected and analyzed. Results from this period include: 2.09 m at 2.59 % Cu with 0.23 g/t Au (channel NE_L017 from the 395 M Level); and 2.42 m at 3.08% Cu with 0.16 g/t Au (channel NE_L001 from the 401M Level). The 48 m developed at the 401M Level during this period yielded an average width of 1.54 m with grades of 2.65% Cu and 0.18 g/t Au. The Company will continue developing, mapping, and sampling along the entire Farellon property, particularly on the 395M Level, 401M Level and the recently opened 414M Level.
Table 1. Results at the 395M and 401M Levels Obtained from late March to early May, 2018.
|Au (g/t)||Cu %||Fe %|
Since December 2017, the Company has extracted a total of 6,917.01 tonnes of Cu-Fe-Au mineralized vein material from two bulk sampling programs on the 395M and 401M Levels, of which 5,061.44 tonnes have been shipped for toll milling and 1,855.57 tonnes remain stockpiled. The Company has received analytical results for 3,369.39 of the processed tonnes and awaits analysis for 1,692.05 tonnes. As the second bulk sampling program of 5,000 tonnes nears completion, the Company is confident that the grade will remain within the expected average according to its maiden resource estimation.
The underground channel samples were analyzed at the independent laboratory, Actlabs, in Coquimbo, Chile. In addition to Actlabs’ in-house QA/QC procedures, the Company inserted approximately 1 in 10 QC samples (standards, blanks, field and pulp duplicates) of its own into the sample sequence. The QA/QC results demonstrate an acceptable level of analytical precision and accuracy.
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.
Altiplano Minerals Ltd. 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.
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