Only recently, Canadian Altiplano Metals (TSXV APN / WKN A2JNFG) proved the continuity of copper and gold mineralization at its Santa Beatriz mine with drilling. According to CEO Alastair McIntyre, the positive results confirmed the company’s plan to advance mine development to deeper levels to supply more material to the company’s El Peñón processing plant. Altiplano now announces that the necessary development work for this has been initiated!
To this end, Altiplano Metals has secured the services of experts from Andes Core Mining (ACM), who are to provide technical support for the underground development of Santa Beatriz. Part of the two-year agreement includes engineering work in the mine and development, with payment based on a pricing structure composed of costs per tonne in mineralized zones and costs per meter of waste material from the construction of ramps and ventilation systems.
Altiplano Metals Expects 3,000 Tonnes per Month Initially
The copper/gold/iron mineralized material obtained will then support the production of copper-gold and iron ore concentrate at El Peñón. Altiplano Metals expects 3,000 tonnes per month in the first four months of development and 5,000 tonnes per month in the subsequent six months. The necessary permit for the initial quantity has been applied for, and the expansion to 5,000 tonnes will be pursued.
Part of the mine development involves the construction of a 75-meter long ramp at the entrance at 414 meters. The ramp will begin with a 15% decline to reach the 400-meter level and access the Santa Beatriz vein structure above the deposit’s footwall.
Altiplano Metals expects work to begin by the end of this month and the vein structure to be intersected around August 28. The first deliveries to the nearby El Peñón processing plant are then expected to occur as early as September, before the next mining takes place 8 meters deeper at the 392-meter level. Incidentally, ACM will also support Altiplano at El Peñón with technical and maintenance issues.
President and CEO Alastair McIntyre states: “We are very pleased with the partnership with Andes Core Mining, which will enrich our company with its extensive experience in mining and processing. Our development work, including bulk sampling and drilling, indicates that the IOCG (Iron Ore Copper Gold) vein system is identical in its characteristics and mineralogy to what we have observed in seven years of mining at Farellon. Mining at Santa Beatriz provides Altiplano Metals an excellent opportunity to maximize supply to the El Peñón processing plant and returns for the company.”
We can only concur.
