TSX-listed mineral exploration company Altiplano Metals has improved capacity at its Farellon copper/gold mine, in Chile, which was now on track to meet its targeted extraction rate of 5 000 t/m later this month.
"Through professional management of extraction methods and operations, our team has rapidly and continuously improved capacity to the point where we are confident in our ability to consistently meet or exceed extraction rates of 5 000 t/m of copper/gold mineralised material,” Altiplano CEO John Williamson commented on Friday.
He added that Altiplano expects to achieve several milestones by the third quarter of this year, including achieving its target for extraction, potentially updating the classification of resources and initiating work programmes on other projects.
“With recent additions to management, we will focus our attention on expansion of existing operations and new opportunities to deliver shareholder value."
Since December 2017, the company has extracted 10 585 t of copper/iron/gold mineralised vein material from two bulk sampling programmes on the 395M and 401M levels, of which 6 020 t have been shipped for toll milling and 3 655 t remain stockpiled.
Altiplano has received analytical results for 5 489 t of the processed material and is awaiting analysis for an additional 530 t.
Shipment of the remaining stockpiles for immediate processing has started.