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Altiplano Metals Inc. 31.01.2018

Altiplano Completes Initial 2,000 Tonne Bulk Sample, Initial Results Grade 2.36% Cu for Material Processed to Date

Altiplano Completes Initial 2,000 Tonne Bulk Sample, Initial Results Grade 2.36% Cu for Material Processed to Date

 

January 31, 2018 - Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) (“APN” or the “Company”) is pleased to provide an update for January’s activities of its Farellon Copper-Iron-Gold Project at the Historic Farellon Mine, near La Serena Chile. The Company has completed the initial 2,000 tonne bulk sample of Cu-Fe-Au vein material. To date, the Company has shipped a total of 867.19 tonnes of the bulk sample material for processing.

 

During January 2018, the Company removed 2,000 tonnes of Cu-Fe-Au vein material from the 395M Level drift for bulk sampling. Processing results for the first 263.19 dry tonnes of the 2,000 tonne bulk sample are shown in Table 1 below.  These results can be compared with the 395 M chip sample results in Table 2 below. The 395M results show that the chip sample results have an approximate average of 2.99% Cu and processing of the bulk sample shows a grade of 2.36% Cu for the first 263.19 dry tonnes. The Company estimates that the upper end of the grade range for the 395M zone is approximately 2.99% Cu and that mining dilution accounts for the differences observed.

 

CEO John Williamson stated, “Since commencement of the Farellon Project we have targeted an average grade of greater than 2% Cu as a benchmark for proceeding with a second larger 5,000 tonne bulk sample. Initial results for processing of the Farellon bulk sampling material have been very encouraging as our grab sampling, chip sampling, drilling and bulk sampling so far have all confirmed that Farellon has the Cu grade to warrant further testing with an emphasis on grade control, costing and mining parameters to facilitate a technical report. Once all of the bulk sample material has been processed, we will determine next steps.”

 

Table 1.COPPER PROCESSING RESULTS FROM 263 DRY TONNES COLLECTED FROM THE 395M LEVEL DRIFT

 

Wet Tonnes

 

Humidity

(%)

Dry Tonnes

 

Copper Grade

(%)

32.80

2.40

32.013

2.33

37.73

2.70

36.711

2.40

29.14

2.00

28.557

2.64

31.44

4.00

30.182

2.79

18.94

4.00

18.182

2.21

29.18

4.00

28.013

2.02

31.52

4.00

30.259

2.23

27.17

2.00

26.627

2.13

34.01

4.00

32.650

2.38

271.93

3.23

263.194

2.36

 

Table 2.SELECTED COPPER GRADE-WIDTH CHIP SAMPLING RESULTS FROM 395-METRE LEVEL DRIFT*

 

 

Line No.   True width     Copper       Iron     Gold

                   (m)        (%)        (%)    (ppm)

 

NE_L1            1.72       2.27      47.58     0.08     

NE_L2            2.01       1.38      54.94     0.04     

NE_L3            2.25       2.19      48.82     0.06     

NE_L4            1.95       3.08      49.23     0.25     

SW_L1            1.68       3.52      46.11     0.28     

SW_L2            1.09       3.57      44.47     0.16     

SW_L2A           1.49       1.78      42.76     0.22     

SW_L3            1.31       1.43      41.56     0.05     

SW_L4            1.17       1.50      27.27     0.15     

SW_L5            1.75       2.78      52.69     0.16     

SW_L6            1.65       5.58      50.23     0.30     

SW_L7            1.68       4.64      38.83     0.18     

SW_L8            1.50       4.03      49.35     0.34     

SW_L9            1.90       3.79      37.74     0.21

 

*These results are released in their entirety on January 18, 2018.

 

As part of its ongoing program, Altiplano is carrying out the recommendations contained in the APEX Report of February 10, 2017 filed on SEDAR for the exploration development of the Farellon project and is also relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization. There are no mineral resources or reserves on the property and the current mineral exploration activities are intended to be part of a program to determine if mineral resources can be identified.  No production decision has been made at this time. 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 of failure associated with such a production decision.

 

Osbaldo Zamora Vega, 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 Minerals Ltd. (APN: TSXV) 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

 

For further information, please contact:

Jeremy Yaseniuk, Director

jeremyy@altiplanominerals.com

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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