Altiplano Metals Inc (CVE:APN) said it has reached 45 meters (m) of the expected 80m of required development length at the Hugo Decline, part of the underground mining activity at its Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.
The company began the extension of the Hugo Decline in March to access a 369m level access point. Intersection of that level is expected in late April or early May, the company said.
The new access point will provide two additional development headings to the NW and SW directions, which the company believes will allow for improved efficiency and ultimately increased capacity.
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"Expansion of the Hugo Decline is part of our ongoing development plan to operate on several working headings through multiple access points,” CEO Alastair McIntyre said in a statement.
“These additional locations provide opportunity to further improve efficiencies and grade control. Our next stage of development involves ventilation improvements which will provide the opportunity to increase the number of daily production shifts. This increased capacity will allow us to maximize output from the development headings and, in addition, to begin mining above and below existing drifts. This is all part of our design to maximize the output in advance of the mill facility start-up," he added.
Altiplano Metals is focused on the acquisition and development of near-term, cash-flowing assets and exploration projects of significant scale. The Edmonton-based company is looking to grow into a mid-tier producer of copper, gold, and silver with its goal to have three cash-flowing assets by mid/late 2021.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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