Altiplano Metals Inc (TSX-V:APN, OTC:ALTPF) has updated investors on its efforts to maximize output and grade from its Farellon copper-gold mine in Chile, saying it had started to expand a new decline and has upgraded the ventilation system.
The company has already generated over US$7.2 million from the recovery and sale of around 3.6 million pounds of copper from the Farellon mine with an average grade of 1.74% and cashflow has been re-invested to improve productivity and capacity.
"Increased operational efficiencies generated from the upgraded ventilation and further expansion underground are part of the ongoing development and sustainability activities at Farellon," said CEO Alastair McIntyre in a statement.
"With our mill construction on pace to be completed in Q1 2022, this work is designed in advance to maximize the output and grade from our mining activities at Farellon in preparation of the facility's completion."
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Underground work has begun on the Hugo Decline to expand to the next targeted working heading at the 352 metre (m) level, the firm said, and 14 metres (m) have been completed to date.
The extension is designed to provide two further mining access points along the north-east and south-west drifts and, in future, provide access to remove mineralization from the roofs and floors of the 360 m level above.
"To support upgraded ventilation, improvements to surface and underground infrastructure were completed in early December," added Altiplano.
"This work involved the installation of a 125 HP fan at the entrance of the Almendro tunnel and the sealing of existing underground openings from previously mined areas."
Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The company has a diversified portfolio of assets that include an operating copper-gold-iron mine, development near term producing gold-copper projects, and exploration land packages with district-scale potential.
Contact the author at giles@proactiveinvestors.com