Altiplano Metals Inc (TSX-V:APN, OTC:ALTPF) has provided an update on the exploration activities at its newly optioned Pastillas gold project in the prolific Maricunga Gold Belt in the Atacama region of northern Chile.
In a statement, the company said its geologists have arrived on site at Pastillas and the adjacent La Isla projects to conduct an initial exploration and mapping program.
The work is designed to further the understanding of the lithology, fault network, and the widespread advanced steam-heated argillic alteration system indicative of epithermal and porphyry systems.
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The initial focus will be to complete an extensive alteration and bedrock lithology mapping survey over the southern portion of the property including following up with an extensive short-wave infrared spectroscopy (SWIR) program to build on the limited historical work.
"We are excited to get boots on the ground in the Maricunga Gold District of Chile and begin our field work program at Pastillas,” said Altiplano CEO Alastair McIntyre in a statement. “Our initial mapping program will provide guidance for future sampling programs, geophysical surveys with the goal of ultimately identify potential drill targets."
Altiplano also said it has generated over US$7.98 million from the recovery and sale of 3.86 million pounds of copper (Cu) with an average grade of 1.74% Cu.
The cash flow has been re-invested into equipment, underground drilling, expanding underground development at Farellon, enhancing ventilation to increase productivity and capacity, new underground development and exploration at Maria Luisa, and the commencement of the permitted El Peñón fit-for-purpose mill and flotation plant located 15 kilometers from the Farellon site.
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