Altiplano Metals Inc (CVE:APN) said it has begun a “significant” underground 6,000 metre (m) drill program at its Farellon copper-gold mine in Chile.
The company noted that the current drill program is designed to assist with grade control within the mineralized zones and provide guidance for further underground advancement of the Hugo Decline.
“By drill testing the vein at depth, this provides greater confidence on the continuation of the vein structure and assists with mine planning and grade control optimization,” Altiplano Metals CEO Alastair McIntyre said in a statement.
READ: Altiplano Metals advancing copper and gold projects
“The acquisition of the drill rig provides us with great flexibility to obtain quality geological information at Farellon but also provides us the opportunity to quickly mobilize the unit and drill test Maria Luisa and other projects that we have under review,” McIntyre added.
Altiplano noted that exploration drilling to the southwest will test for continuity of the vein within the concession package beyond the intrusive dyke structure where opportunity exists to expand the underground workings and recover additional copper-gold and iron oxide material.
As well, the company said the drilling stations will be established underground at three positions inside the historical Laura vein system decline located about 250m south of Farellon, which would provide the opportunity to optimize drilling efficiencies to reach the Farellon vein at greater depth.
The work is expected to outline an exploration target of over 60,000 tonnes of copper-gold and iron oxide mineralization that would be sufficient to provide an additional year of extraction, Altiplano added.
The company said it will also help with advanced stope design as the company pushes to increase the height between mining levels to increase efficiency.
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