During Q4, 2022, the Company extracted a total 11,340 tonnes of mineralized Cu-Au material at Farellon. This represents a decrease of 15% from the record Q3 results of 13,440 tonnes. Tonnes processed in Q4 represented 6,804 tonnes, down 10% from the previous quarter of 7,570 tonnes. The copper grade recovered was 2.05%, up 10% from the previous Q3 result of 1.87%. Waste removal increased by 18.5% to 1,422 tonnes in Q4 as the decline advanced to the lower 344 levels. Sales of 295,397 pounds of copper generated approximately
At the end of
President and CEO
Q4 mining activity focused on extraction of copper-gold bearing material on the 360 m and 352 m levels where selected grades in the NE section yielded copper greater than 2% with vein widths exceeding 8 m in certain locations. Bench mining continued between the 360 m and 352 m levels in the NE section of the mine. Work on widening the main parts of the Hugo Decline was conducted to improve accessibility for specialized haulage trucks to be used starting in Q1 2023 to improve extraction efficiencies. An escapeway chimney was completed between the 352 m and 382 m levels, improving accessibility and ventilation between levels. Development expansion to the 344 m level was completed in Q4 and work has begun with the extension to the 336 m level. Intersection of the 336 m level is expected in April.
Altiplano has generated over
About Altiplano
Altiplano is part of the
Contact:
CEO
E: alastairm@apnmetals.com
Tel: (416) 434-3799
Neither the
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. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating the historical estimates as current mineral resources or mineral reserves. The Farellon mine was previously in production dating back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. 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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