Altiplano Metals Inc saw its copper grades increase yet again during its July production run from the Farellon copper-gold mine in Chile.
Over the month, Farellon produced around 4,020 tonnes of copper-gold material at a grade of around 1.52% — a 2% increase in copper grade, according to a release from the company.
Altiplano also increased the amount of tonnes extracted by 11.5% compared to the month of June 2021, it told shareholders.
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The firm generated revenue of US$243,900 after processing 2,381 tonnes for shipment, a slight decline from June levels. An additional 1,280 tonnes were stockpiled at site and will be shipped in August for processing, the mining firm said.
Altiplano told shareholders that waste removal increased in July as a result of ongoing development work of the Hugo decline extension and preparation work for bench mining practices.
"I am pleased to see that our positive July results highlight our focus on continuation of the upward trend in improved grade and increasing output while working in tandem with the ongoing development of our decline extension and sustainability work, such as the ventilation improvements,” CEO Alastair McIntyre commented in a statement accompanying the results.
As for the future at Farellon, Altiplano said that development work on the Hugo Decline continues with the advance to the next access point at the 360 metre (m) level. Currently 70.5 m of the total 90 m required to reach the 360 m level have been completed.
The decline advance is expected to be completed at the end of August where an additional advance of 22 m will be required to reach to the vein intersection, Altiplano added.
Additional work is expected be completed in September.
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