Significant progress at Altiplano Metals (TSXV APN / WKN A2JNFG). The company has reached another milestone at its Santa Beatriz copper, gold, and iron ore mine in Chile!
Work is underway there to access new underground deposits, which will feed the El Peñón processing plant located just 13 kilometers to the north. For this purpose, tunnel development began at the entrance at 437 meters, and after 63.4 meters, the Santa Beatriz iron ore, copper, and gold vein was intersected. Altiplano observed massive sulfides (chalcopyrite, pyrite, and bornite) as well as magnetite in the vein.
The company has now commenced mining operations at 425 meters, along both the southern and northern extensions of the vein. Altiplano expects to extract 3,000 tonnes in September, targeting a daily production of 120 to 140 tonnes.
Altiplano has now begun delivering material from Santa Beatriz to the El Peñón processing plant to support the ongoing production of copper, gold, and iron concentrates.
Altiplano Plans further Development Work in mid-September
The next development work will take place in the deeper tunnel via an entrance at the 414-meter level to support mining operations at two additional working areas to the north and south at a depth of 400 meters.
Altiplano expects to begin this next development phase on September 15 and then reach the 400-meter depth by early October.
The company has obtained the necessary permits from the Chilean mining authority. These permits are valid for 42 months and allow for the extraction of up to 4,275 tonnes per month, as well as two additional mine openings (for a total of three), which opens up the possibility for further expansion for Altiplano! Additional tonnage and extensions can be requested during ongoing development.
Altiplano’s President and CEO Alastair McIntyre states: “The ramp development work at the 425 m and 400 m levels represents a significant milestone on the path to maximizing the production capacity of the Santa Beatriz mine. Access to the vein structure at lower levels and through multiple adits enables the extraction of high-grade copper/gold and iron material, which increases production potential. The material delivered from Santa Beatriz to our plant aligns with our goal of integrating our copper/gold and iron production and processing operations. We are also very pleased with the permit approval for the expansion of the Santa Beatriz mine, which provides us with the opportunity to increase mineral production and the sale of copper/gold and iron concentrates.”
Once again, the company delivers! We’ll keep you updated.
