Initial Farellon Drill Results and Operations Update

 

TORONTO, ON - Altiplano Minerals Ltd. reported a project update including initial Copper results from the chip sampling and drilling at the Farellon Cu-Au vein system, near La Serena Chile.

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. 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).

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. 

CEO John Williamson said, '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.”