Altiplano Announces Initial Farellon Drill Results and Operations Update
June 13, 2017 - Altiplano Minerals Ltd. (TSX-V: APN) (OTCQB:ALTPF) (FWB: 9AJ1) (“APN” or the “Company”) is pleased to announce a project update including initial Copper results from the chip sampling and drilling at the Farellon Cu-Au vein system, near La Serena Chile.
To date, the Farellon decline has advanced over 240m to a depth that is 25m beneath the Alejandro adit where Cu-Au ore was mined to a depth of 70m in the past (Figure 1). Historical production from the Farellon Vein system was reported to be approximately 300,000 tonnes at an average grade of 2.5% Copper and 0.50 g/t Au.
The initial results are positive, being well within the range of expectation and correlating well with historical and Comet Joint Venture (CJV) results from above in the Alejandro adit. Based on the current sampling and drilling within the Farellon decline and the Alejandro adit above, the vein system has a consistent width between 95m and 210m, of about 1.6-1.8m and a consistent grade of between 1.17 % Cu and 1.21 % Cu. This zone has a consistent higher-grade portion of 0.5-0.6m of over 3.2 % Cu. The CJV expects to be drilling beneath the higher-grade portion in the next few weeks (Figure 2).
To date, sample results have been received for 3 points along the 240m Farellon decline. A chip sample result at the 95m intersection of the decline and the vein system, drill hole 001, at 120 m, and drill hole 002 at 210m. Results are shown in Table 1 below. Gold grades are not yet available but are currently in the lab for assay.
Table 1: Chip sample and drill results
CEO John Williamson stated, ‘We are very encouraged by the results reported in this update as they are consistent in both grade and widths with the historical data. We believe the results from the drill program will continue to add validation and a more defined view of the scale of this project for our investors. As we continue to advance the project at a rapid pace, further news on drilling and assay results will be available soon.’
Altiplano Minerals Ltd. (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
Tel: (780) 437-6624
For further information, please contact:
Lisa May, Investor Relations
Tel: (778) 288-2737
Renmark Financial Communications Inc.
Laura Welsh: firstname.lastname@example.org
Tel.: (416) 644-2020 or (514) 939-3989
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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.