These sample results confirm high grade copper-gold mineralization in the Santa Beatriz vein complex.
With this information, the Company will review the opportunity to develop Santa Beatriz for the potential to produce incremental Cu-Au-Fe mineralized material to support feed for the El Penon mill plant. Currently, the mine has a 3,000 tonne/month permit which can be increased to 5,000 tpm through application with the mining authorities.
President and CEO,
Surface and underground mapping and sampling along NE-trending veins was conducted by the technical team as part of the 2024 ongoing exploration program at Santa Beatriz. A total of 5 veins/splays were identified either outcropping on surface, with old mine workings, or with excavator trenching. The total strike of these veins adds up to 1,050 m and range in width from 0.30 to 3.13 m. Inferred projections are not being considered and only actual outcrops were measured and sampled. The main vein, Santa Beatriz, was explored previously with underground workings along a strike length of 275 m.
A total of 98 samples were taken along these veins to complete 37 sampling channels. The channels are perpendicular to the vein and consists of 1 - 4 contiguous samples. In underground workings, the channels include samples taken from the vein and its host-rock (footwall and hanging wall), and were taken systematically every 10 to 15 metres. The best channel sample result belongs to the Santa Beatriz vein and yields 2.45 m with 3.65 %Cu; 0.29 g/t Au and 26.97 %Fe which includes a 1.08 m sample that yields 8.08 %Cu, 0.63 g/t Au, and 39.49 %Fe.
The Santa Beatriz vein is the best explored to date, strikes N70E, dips steeply to the south, and is hosted by fine grained diorite. The vein consists of massive magnetite that contains discrete bands of chalcopyrite and lesser bornite in patches with halos of coarse grained (up to 3 cm long) crystals of euhedral apatite intergrown with actinolite partially altered to chlorite. These characteristics resemble both the Farellon and Rosario veins, which also share the same structural control. This confirms that these veins belong to the same ore forming hydrothermal system and precipitated under similar physical (depth and temperature) and chemical (ore fluids chemistry) conditions. The other veins mapped on surface to the north from the Santa Beatriz vein footwall (SBFW 01-04), albeit narrower, display similar characteristics suggesting that a larger and deeper hydrothermal system could be feeding these veins.
The positive geological mapping and sample results warrant further exploration and development at Santa Beatriz. The Company is planning to continue with a bulk sample from the underground workings, geophysics, and diamond drilling program to confirm continuity of the vein and grades at depth and along strike. This information will form the basis of a potential mining decision. Existing underground infrastructure at Santa Beatriz can be used to assist in the development and access to the mineralized vein structure at depth.
Altiplano has generated over
About Altiplano
Contact:
Chairman
CEO
Tel: (416) 434 3799
Email: alastairm@apnmetals.com
This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.
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