Altiplano Metals Inc (TSX-V:APN, OTC:ALTPF) revealed high-grade copper assays from its Farellon project in Chile that confirm the continuation of mineralization at depth and along strike.
The company reported grades of 3.18% copper over 3.67 metres (m), 2.85% copper over 3.97m and 3.24% copper over 2.68m below the existing workings in the northeast section of the project.
Edmonton-based Altiplano drilled a total of 20 holes at Farellon for a cumulative 3,634m.
READ: Altiplano Metals intersects high-grade copper at its Farellon mine in Chile
All holes have intersected the mineralized vein system at depths of up to 24m below the current 360m operational level and along the northeast-southwest strike extensions, according to a statement.
The drill results help to prove the mineralized areas observed in the core are consistent with the mineralized areas of the upper zones of the Farellon vein system that were previously drilled, Altiplano said in a release, and consistent with results from the ongoing mining operations.
The company called the drill results “excellent”, adding that the results support the potential to increase the amount of mineralized tonnage available for extraction.
"Our positive drill data provides the confidence to continue the underground expansion of our operations to target these newly confirmed mineralized zones,” Altiplano CEO Alastair McIntyre said. “In addition, we will use this information to conduct a comprehensive review to realize improvements in grade control and development efficiency to further enhance our operations at Farellon."
Altiplano 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%.
The company is preparing to drill around 5,000m at the Maria Luisa target to supplement ongoing underground activities and test new exploration targets.
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