Altiplano Metals Obtains Exploitation Permit at Maria Luisa

Altiplano Metals Inc. (TSXV:APN) is proud to announce that the mining application has been approved by the Chilean Mining Authority (Servicio Nacional de Geologia y Mineria) for the historic Maria Luisa Gold-Copper Mine . The permit gives Altiplano permission to commence underground exploration and development of the mine. 

The project, known as the “Maria Luisa Mine,” is located in the Atacama region, about 100 km south of La Serena, Incahuasi, Chile. Altiplano (TSXV:APN)plans to establish an underground waste system designed to reach mineralized veins through multiple access points at various levels with this permit.

Figure 1: Plan Map of Maria Luisa

Design and Development

The design process involves access to the northwest and southeast mineralized Au and Cu veins by intersecting four separate levels designed to create 8 mining areas (Figure 2). The initial decay system will penetrate into the southwest corner of the property and advance 350 meters southeast to intersect mineralized zones within historical mining areas. 

The development work will be led by surface and underground drilling programs to support future grade control. The Company intends to mine approximately 3,000 tonnes of mineralized gold and copper material at this stage, with future opportunities to expand to 5,000 tonnes.

Construction is expected to take approximately 6 months and Phase 1 funding is estimated at approximately $600,000. During the construction and development phases, the company will have the opportunity to extract mineralized bulk samples from Au and Cu, which will be sold to a nearby processing plant to offset the development costs before full capital improvements. The Company is in the process of completing the review process to select a contracted miner to build and/or develop the project. The review process is expected to be completed in the next few weeks and work will begin.

Figure 2: Underground Mine Model. Source: Altiplano Metals

Altiplano (TSXV:APN) is a Canadian mining company focusing on the acquisition and development of short-term cash flow assets and exploration projects of considerable size. The aim of Companys is to grow into a medium-sized producer of copper, gold and silver, with an immediate plan to generate profits from three cash flow projects by 2021.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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