Altiplano Metals Inc (CVE:APN) reports that a second vein system at the Maria Luisa project returned 8.73 grams per ton gold over 5.75 metres.
In addition, the company also proposed a location for a new decline that will target the existing workings and to access the second mineralized system at the gold-copper mine in the Atacama Region 100 kilometers (km) north of La Serena in Incahuasi, Chile.
Altiplano noted that the Maria Luisa project hosts gold-copper mineralization in two major NW-SE and N-S trending vein systems, which the company hopes to link via the underground decline system.
READ: Altiplano Metals advances copper-gold mining to 368 metres depth at Farellon in Chile
Historical mining has largely been from the main NW-trending system, the Maria Luisa vein, which is an anastomosing set of structures traceable for about 500 metres (m) along-strike. And limited underground workings exist on the N-S vein system and there are no known production records or grades available in this area.
However, the company said recent surface and underground grab and chip sampling results along the N-S vein system indicate that it may be of similar caliber to the Maria Luisa vein.
Altiplano said the sample from the N-S vein system, which returned 8.73 g/t gold over 5.75m, confirmed continuity from surface where recent grab samples have returned up to 4.96 g/t gold and 3.51% copper. Also, anomalous gold-copper surface rock grab sampling of the N-S vein system defined a strike extent of over 450m that remains open.
Underground development
Looking ahead, the company said an extensive road network on the project and favorable topography are proving valuable as it designs the future underground development.
It said a proposed portal entrance and southwest-oriented decline will allow for the development of both vein systems in tandem and provide excellent exploration and discovery opportunities as the decline is advanced between the two vein systems.
"Maria Luisa is a high-grade gold copper project that has yielded excellent grades from previous drill sampling and historical underground workings,” said CEO CEO Alastair McIntyre in a statement.
“In addition, the results of our recent underground sampling along a previously underexplored zone to the NE of the project are also very encouraging. These results provide the Company an excellent opportunity to further explore and develop the asset by connecting both high grade zones with our proposed underground decline system. Our next steps are to finalize engineering studies and submit the appropriate applications to begin the development work."
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham