Altiplano Metals Inc. (TSXV: APN) has obtained an Exploitation Permit to begin underground exploration and development work at Maria Luisa gold-copper (Au-Cu) mine located near Incahuasi, Chile.
The permit provides the opportunity to begin the surface and underground work required to commence the decline tunnel. The Maria Luisa decline is designed to access gold-copper mineralized veins through multiple access points on multiple levels.
The has begun site excavation and road work to support the construction of the decline. Initial work has begun also on the decline entrance where several rounds of drilling and blasting and have been completed.
Highlights of this work include:
- Land excavation including completion of the road to the project site and mine opening;
- Leveling of the stockpile and waste pads;
- Preparation of construction sites for offices and future explosive magazine;
- Leveling of three platforms to support future exploration drilling;
- Drilling and blasting has begun at the decline entrance;
- Fortifying the decline entrance with rock bolts and meshing.
To support the underground work, the company has purchased a XC 928 Scoop with 1.0m capacity bucket as part of the mining equipment. Additional equipment also includes compressors, jacklegs, generators, and vehicles. Office facilities will be completed in the next few weeks.
“Maria Luisa provides an excellent opportunity to complement our operations at Farellon and add an additional revenue source. We are very pleased to get this project permitted and a put a team on the ground in short order. This work is a testament to our in-country capabilities and expertise and focus on advancing projects,” CEO, Alastair McIntyre, said.
The Maria Luisa project location hosts good infrastructure required to support the surface exploration and underground development. This includes power located within three km of the town of Incahuasi and accessible by paved road withing three km of site. Adequate water supply is available which can be used for drilling and underground operations. Water is also expected to be recirculated from underground as the decline advances to lower levels.
Work on the decline will operate with daily shifts where a total advance of 65 m will be required to reach the 883 m level (approx. 20 m below surface). This location will provide the first sub drift adit to intersect the NW-SE trending vein system located under the historical workings where past production of approximately 600 tonnes (between 2013-2015) yielded 6.89 grams per tonne (g/t) gold and 1.89% copper.
From this area, the company expects to extract gold-copper mineralized material to potentially sell to local processors. The proceeds from these sales can be used to offset some of the initial capital costs of development as the decline and sub drifts advance.
Altiplano has generated over US$6,600,000 from the recovery and sale of approximately 3.375 million pounds of copper with an average grade of 1.77% Cu (2018 Q1-2021 Q2). Cash flow has been re-invested into equipment, underground drilling, expanding underground development, enhancing ventilation to increase productivity and capacity, and the commencement of the permitted El Peñón fit-for-purpose mill and flotation plant located 15 km from the Farellon site.
For further information please visit: https://www.metalsgroup.com/