Altiplano Metals Inc (CVE:APN) announced it is about to begin mining copper-gold mineralized material in the northeast and southwest directions at the 368 metre (m) level of its Farellon copper-gold mine in Chile, following the advancement of the Hugo Decline.
The company also said the extraction of copper-gold mineralized material is being conducted at the 376 m and the 389 m levels in the southwest direction.
“The development work underground at Farellon remains a priority to ensure that we can optimize output. This work opens access points on new headings and provides opportunity to extract mineralized material between the existing headings,” CEO Alastair McIntyre said in a statement.
READ: Altiplano Metals advancing copper and gold projects
“Operationally, this is very good for maximizing productivity,” McIntyre added.
The company noted that, to date, the total advance along the northeast and southwest drifts totals 6.8m and 4.2m, respectively.
It added that the Hugo Decline expansion is expected to be 82m in length and will reach the targeted access point at the 360m level in July.
Altiplano acquired the Farellon project in 2017 and has been recovering copper/gold mineralized material from a series of underground workings at numerous levels. To support the operations there, the company is currently constructing a mill and processing facility located 15 kilometres from the mine site capable of processing 250 tonnes per day.
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 Sean at sean@proactiveinvestors.com