Altiplano Metals Inc (TSX-V:APN, OTC:ALTPF) has reported major progress on its ongoing construction activities at its El Peñón processing facility being built to support copper-gold-iron production from its flagship Farellon mine near La Serena, Chile.
In September last year, the Canadian gold, silver, and copper company obtained permit approval to construct and install the copper-gold flotation, iron magnetic separation and a dewatering processing plant.
In a statement, Altiplano CEO Alastair McIntyre said: "We are very pleased with the construction progress at the mill site where 90% of the work has been completed.”
READ: Altiplano Metals boosts revenue in 4Q with higher copper sales from Farellon mine in Chile
He added: “Our team in Chile has done an excellent job working with the government and local contractors to move the project towards completion. The next steps of integrating the various processing components are the final steps to bring the plant circuit online."
Since receiving the September permit approval, Altiplano has completed the installation of the crushing, milling, and flotation equipment and installed hoppers and a conveyor system. The firm said it has also shipped dewatering and magnetic separation equipment to the site.
Altiplano noted that it had also completed the construction of four concrete platforms for the copper-gold concentrate dewatering filter press system, magnetic separation and tailings dewatering processes.
In addition, Altiplano made headway on the electricity front by drawing an electrical connection from principal power lines to its main power room, including connection to hydraulic systems for crushing, milling and flotation processes, and an electrical connection to the diesel electricity generator to support back-up power.
Altiplano highlighted the company’s next steps with a precise timeline as follows:
- Testing of the crushing, milling and copper-gold flotation concentrate circuit (February)
- Complete building construction (February)
- Installation of the iron oxide magnetic separation and dewatering equipment (March)
- Begin shipment and stockpiling of production from Farellon to the plant site (March)
- Finalize dry stack tailings storage area (March)
- Construct copper and iron concentrate product storage pads (March)
- Complete the installation of an analytical lab and achieve first copper-gold concentrate production in March
Altiplano has generated over US$7.98 million from the recovery and sale of 3.86 million pounds of copper with an average grade of 1.74% copper. The company noted that the cash has gone back into equipment, underground drilling, and expanding underground development at Farellon, intensifying exploration at Maria Luisa, and the El Peñón fit-for-purpose mill and flotation plant 15 kilometers from the Farellon site.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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