Altiplano Metals Inc (CVE:APN) reported that copper grades are improving at its Farellon copper-gold mine in La Serena, Chile.
During the month of April, Farellon produced approximately 3,100 tonnes of mineralized copper-gold material at an approximate grade of 1.64% copper, with shipments for processing totaling 2,550 tonnes, generating approximately US$231,000 in revenue for the month.
Copper grades improved to 1.64% from 1.43% in the previous month, Altiplano added. An additional 1,045 tonnes were stockpiled for shipment in May.
READ: Altiplano Metals reports second vein system at Maria Luisa returned 8.73 grams per ton gold as it proposes new underground decline location
CEO Alastair McIntyre told investors that the results are “beginning to show some turnaround.”
“In the last few months, we have focused on development and expansion which typically results in lower productivity,” McIntyre said in a statement.
“With the new development and bench mining techniques, we are able to access new mineralized zones at lower levels and between levels. I expect that this work will continue to yield positive results over the next few months."
In April, the company advanced work on the Hugo Decline to reach the new 368 metre level where mining began in the northeast and southwest directions. Additional mining activity occurred on the 376 metre level in the same directions and the 389 metre level in the northeast direction.
Altiplano also connected the 395 metre and 401 metre levels to prepare for the bench mining of the 395 metre southwest ceiling, and connected the 376 metre level with the 382 metre level to provide better air flow and an additional escape way.
The underground development program at Farellon has resulted in the extraction of more than 108,000 tonnes of copper at a grade of approximately 1.83%. The processing of this material has generated over US$6 million from the credit of over three million pounds of copper.
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