Exploration Work Being Planned
Promising move by Altiplano Metals (WKN A2JNFG / TSXV APN). CEO Alastair McIntyre’s company secures additional promising areas in immediate proximity to the company-owned El Peñón processing plant!
As just announced, Altiplano has secured two new concession areas named Socorro III and Regalo, thereby expanding the area controlled by the company from 229 to 308 hectares. And this is just 15 kilometers away from the El Peñón processing plant, where Altiplano produces copper and gold – as well as iron concentrate.
The new concessions are also located along a 4.5-kilometer-long, northeast-trending mineralization corridor that includes eight small, active copper and gold mines in the Tambillos district (Iron-Oxide-Copper-Gold, IOCG). This significantly increases the exploration potential for Altiplano.
Favorable Terms
According to CEO Alastair McIntyre, the company has acquired the new projects on very favorable terms. He states that they not only increase the exploration and discovery potential but also take advantage of the close proximity to El Peñón. McIntyre considers Socorro particularly promising, especially considering the project’s location along the strike of producing and formerly producing copper and gold mines.
Socorro III covers an area of 29 hectares and is located only 400 meters north of the Falleron mine, 1.7 kilometers from the historic Santa Beatriz mine (Altiplano), 1 kilometer southwest of the producing Socorro II mine, and as mentioned, about 15 kilometers from the company’s processing plant.
According to Altiplano, the iron oxide, copper, and gold vein structure (IOCG) can be observed at the surface and is underlined by a geophysical, magnetic structure. The company suggests that the vein could be the continuation of the producing Socorro II mine along strike.
Altiplano is paying only $30,500 USD (30 million pesos) to a private individual for the rights to the Socorro III concession. They will now pay 1 million pesos per month until August 2026, with these installments being deducted from the original purchase price.
The much larger Regalo concession covers 200 hectares and is located about 500 meters southwest of the Santa Beatriz mine – from which Altiplano plans to source mineralized material soon – and just north of the producing IOCG mines La Perla and Carbonillos. This concession was acquired from the land registry.
In total, together with Santa Beatriz (54 hectares), Altiplano Metals now controls 308 hectares of land.
According to Altiplano, there is limited geological information available for both new properties. However, they see considerable potential for mineral deposits in both areas, particularly due to their proximity to former and currently producing mines. The next steps planned are basic mapping and a detailed magnetometer survey to help identify potential drill targets.
Altiplano processes stored material at El Peñón, which will soon be supplemented by mineralized material from the historic IOCG mine Santa Beatriz. We consider it a smart move to secure additional properties that could provide additional material for the processing plant in the future. The proximity to the plant plays a significant role, as this should help keep costs low. We will continue to follow this development.
