Altiplano Metals Inc (TSX-V:APN, OTC:ALTPF) said it has discovered a new vein system at the Maria Luisa project in Chile.
In a statement, Edmonton-based Altiplano said a new, near surface high grade copper oxide vein system trending in a north-south orientation with mineable widths was intersected underground while the firm was advancing the Maria Luisa decline.
Underground mapping tested with channel samples on the vein resulted in 2.50 metres of 1.44 grams per ton (g/t) gold and 4.65% copper, and 2.52 metres of 1.17 g/t gold and 0.93% copper.
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Altiplano said it plans to test the vein in the second phase of an upcoming drill program.
The firm told shareholders that vein sets in a north-south orientation have been “poorly understood” and not mined historically, but “appear to have significant upside.”
The Maria Luisa decline has advanced a total of 115 metres and has begun the crosscut to the main vein system expected to be intersected in approximately 15 metres, according to Altiplano.
“We are pleased with the underground progress at Maria Luisa where we will soon reach the first access point of the targeted main vein system,” CEO Alastair McIntyre said in a statement.
“We are also excited to discover a new, highly mineralized, copper-gold vein system that has yielded very significant assays in early results. The presence and grade of this vein system supports the significant upside potential of multiple vein systems at Maria Luisa which remain largely unexplored."
The Maria Luisa project is located within the Atacama Region, one hundred kilometres north of La Serena in Incahuasi, Chile.
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