Altiplano Metals drills 3.76 g/t gold over 10.5 metres at Maria Luisa, Chile

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Altiplano Metals Inc. [APN-TSX; ALTPF-OTC; A2JNFG-FSE] has made a new discovery at the Maria Luisa project, located 100 km north of La Serena within the Atacama region in Incahuasi, Chile. Drill hole 22MLDDH012 intersected 10.50 metres of 3.76 g/t) gold and 3.83% copper, including 3.00 metres of 2.30 g/t gold and 8.26% copper, and 4.50 metres of 6.03 g/t gold and 2.19% copper. This drill hole was collared at the 867-metre level of the current underground workings at Maria Luisa.

Drill hole 22MLDDH012 is a new discovery north and west of historical underground workings. The area has never been historically drilled or mined, follow-up work is underway to delineate the scope and scale of this new discovery.

Rocks hosting high copper and high gold grades in 22MLDDH012 vary with depth. 1.00 metre of 0.88 g/t gold and 2.36% copper is from copper and iron oxide that is spatially associated with a fault gouge zone. 10.50 metres of 3.76 g/t gold and 3.83% copper is associated with a silicified breccia zone characterized by blebby to massive copper sulphide (chalcopyrite) and disseminated pyrite.

At depth, 0.50 metres of chalcopyrite-bearing intrusive returned 6.46% Cu. Assay results are pending for four drill holes that intersected intervals similar in appearance to the high-grade breccia zone of 22MLDDH012.The company has developed 410 metres of the NW-SE trending Maria Luisa Decline and is now approximately 23 metres from the projected initial target length. Cross cuts to the SW will intersect the vein system to support the proposed mining plan. The decline advance also allows the Company to continue testing exploration targets from underground drilling.

Alastair McIntyre, President and CEO, commented, “We are very encouraged with the discovery of this new zone and the corresponding high-grade gold and copper assay results. The recent work at Maria Luisa has focused on developing our underground decline system while establishing strategic underground drill locations. This provides the opportunity to drill new targets efficiently to support exploration and potential mine development with the added advantage of expanding our understanding of the multi-vein system at Maria Luisa.”

Altiplano has generated over US$9.86 million from the recovery and sale (after processing costs) of 4.47 million pounds of copper with an average grade of 1.78% copper (2018 Q1-2022 Q2). Cash flow has been re-invested into equipment, underground drilling, expanding underground development at Farellon, enhancing ventilation to increase productivity and capacity, new underground development and exploration at Maria Luisa, and the commissioning of the El Penon fit-for-purpose mill and flotation plant located 15 km from the Farellon site.


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