Altiplano Metals expands options at Santa Beatriz CU-Au-Fe mine and expands underground development work

Edmonton, Alberta–(Newsfile Corp. – January 2, 2025)– Altiplano Minerals Company. (TSXV: APN) (WKN: A2JNFG) (“Altiplanoor the “Company”) announces the extension of the option agreement to acquire the Santa Beatriz copper, gold and iron (Cu-Au-Fe) mine by one year. Santa Beatriz is located approximately 45 kilometers south of Los Angeles Serena, Chile, and 13 kilometers South of El Peñón processing plant.
Comments from President and CEO Alistair McIntyre: “We are very pleased with the technical progress and results at Santa Beatriz. Extending the option gives us the opportunity to continue exploration and development to support further underground work. Given the similarities to the Farillon mine and our positive technical results, we are encouraged that Santa Beatriz will reveal the potential to provide high-quality material.” And low cost for our mill, which generates positive returns for the company.”
Highlights:
Option extension:
- Altiplano has extended its option to acquire Santa Beatriz until December 2025.
- The extension provides Altiplano with the opportunity to continue exploration and mine preparation work. The original terms of the final acquisition remain the same with monthly rental payments increasing from CLP 3,500,000 to CLP 5,000,000.
Allow:
- The current production permit for Santa Beatrice is currently 2,000 tons/month
- Production could be increased to 5,000 tons per month under the Chilean national small-scale mining licensing process.
- The extension is expected after the company completes the appropriate development work. The permit process can be completed within several weeks after submitting the application.
- The company has obtained the necessary permits to work with and store explosives needed to carry out ongoing mining activities
Mine renewal and sampling:
- Dewatering and refurbishing of the lower parts of the mine has been completed.
- An additional 150 meters of the historic mine area was exposed, surveyed, mapped and sampled (see Figure 1).
- Bulk sampling
- An initial target area of 3,500 tons of mineral material was identified for bulk sampling (see Figures 1).
- He treats:
- Copper, gold and iron materials extracted from the Santa Beatriz mine will be processed at the company’s El Peñón processing facility.
- The first shipment produced in Santa Beatrice is expected to be received at the plant in early January 2025.
Figure 1: A plan view of the Santa Beatriz mine.
The decision to develop the Santa Beatriz field is not based on a mineral reserve feasibility study that demonstrates economic and technical feasibility, and there is increasing uncertainty regarding the economic and technical risks of failure associated with any potential production decision.
The Altiplano has generated more 22.5 million Canadian dollars of recovery and sale (after processing costs) for more than 6.95 million pounds of copper With an average score 1.8% copper (December 2018 June 2024). Cash flow was reinvested in equipment, underground drilling, expansion of underground development at Farillón, enhanced ventilation to increase productivity and capacity, new underground development and exploration, and commissioning of the fit-for-purpose El Peñón mill and flotation. The factory is located 15 km from the Farillon site.
About Altiplano
Altiplano Metals is a growing gold, silver and copper company focused on the Americas. The company has a diversified portfolio of assets that includes an operating copper/gold/iron mine and a state-of-the-art copper/gold and iron processing facility in the final stages of completion. Altiplano is focused on creating long-term stakeholder value by developing safe and sustainable production, reinvesting in exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a strong track record of success in capitalizing on opportunities, overcoming challenges, and building shareholder value. Altiplano trades on the TSX.V under the symbol APN and on the Frankfurt Stock Exchange under the symbol A2JNFG.
John Williamson, Bachelor of Science in Geology, a qualified person as defined in NI 43-101, has reviewed and approved the technical contents of this document.
Altiplano is part of a group of minerals companies, led by a dynamic group of resource sector professionals with a long track record of success in evaluating and developing mining projects from exploration to production, attracting capital, and overcoming adversity to deliver exceptional shareholder value.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical fact, that address exploratory drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. The Qualified Person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the Issuer does not treat any historical information or estimates as current mineral resources or mineral reserves. The Santa Beatrice mine was previously in production in the mid-2010s with few known production records. This material is processed and sold locally to a private processing facility. Altiplano relies on limited previous production records, underground sampling and related activities to further explore and potentially develop Santa Beatriz. The decision to develop the project and extract material for potential processing is not based on a feasibility study of the mineral reserves that demonstrates economic and technical feasibility, and there is increased uncertainty and economic and technical risk of failure associated with any potential future production decision. Although the Company believes that 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 expressed 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 regarding the ability to obtain necessary permits, licenses and title, delays due to third party opposition, changes in governmental policies with respect to mining and exploration. Natural resources and their exploitation, the continued availability of capital and financing, and general economic, market or commercial conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those anticipated in the forward-looking statements. For more information about the Company, investors should review the Company’s continuous disclosure filings available on the Site www.sedarplus.ca.
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