Altiplano Extends Option at Santa Beatriz Cu-Au-Fe Mine and Expands Underground Development
Altiplano Metals has extended its option agreement to acquire the Santa Beatriz copper-gold-iron mine until December 2025. The mine, located 45 kilometers south of La Serena, Chile, and 13 kilometers south of the El Peñón processing plant, has seen significant technical progress.
Key developments include: completion of dewatering and refurbishment of lower mine portions, exposure of 150 additional meters of historical mine area, and identification of a 3,500-tonne zone for bulk sampling. The monthly rental payments have increased from CLP3,500,000 to CLP5,000,000, while maintaining original buyout terms.
The mine currently holds a production permit for 2,000 tonnes/month, expandable to 5,000 tonnes under Chilean small mining permits. The company has secured necessary explosives permits and expects to process the first shipment at their El Peñón facility in early January 2025. Notably, Altiplano has generated over C$22.5 million from copper sales since December 2018.
Altiplano Metals ha esteso il suo accordo di opzione per acquisire la miniera di rame-oro-ferro Santa Beatriz fino a dicembre 2025. La miniera, situata a 45 chilometri a sud di La Serena, Cile, e a 13 chilometri a sud dell'impianto di lavorazione El Peñón, ha mostrato significativi progressi tecnici.
Tra i principali sviluppi ci sono: il completamento delle operazioni di drenaggio e ristrutturazione delle sezioni inferiori della miniera, l'esposizione di ulteriori 150 metri di area mineraria storica e l'identificazione di una zona di 3.500 tonnellate per il campionamento di massa. I pagamenti mensili di affitto sono aumentati da CLP3.500.000 a CLP5.000.000, mantenendo i termini di acquisto originali.
Attualmente, la miniera possiede un permesso di produzione per 2.000 tonnellate/mese, ampliabile a 5.000 tonnellate sotto le autorizzazioni cilene per la piccola minerazione. L'azienda ha ottenuto i permessi necessari per gli esplosivi e si aspetta di elaborare la prima spedizione presso la loro struttura di El Peñón all'inizio di gennaio 2025. È importante notare che Altiplano ha generato oltre C$22,5 milioni dalla vendita di rame da dicembre 2018.
Altiplano Metals ha ampliado su acuerdo de opción para adquirir la mina de cobre-oro-hierro Santa Beatriz hasta diciembre de 2025. La mina, ubicada a 45 kilómetros al sur de La Serena, Chile, y a 13 kilómetros al sur de la planta de procesamiento El Peñón, ha logrado un progreso técnico significativo.
Los desarrollos clave incluyen: la finalización del drenaje y la renovación de las partes inferiores de la mina, la exposición de 150 metros adicionales del área minera histórica, y la identificación de una zona de 3,500 toneladas para muestreo a granel. Los pagos de alquiler mensual han aumentado de CLP3,500,000 a CLP5,000,000, manteniendo los términos de recompra originales.
La mina actualmente posee un permiso de producción para 2,000 toneladas/mes, ampliable a 5,000 toneladas bajo los permisos de pequeña minería chilenos. La empresa ha asegurado los permisos necesarios para explosivos y espera procesar el primer envío en su instalación de El Peñón a principios de enero de 2025. Cabe destacar que Altiplano ha generado más de C$22.5 millones en ventas de cobre desde diciembre de 2018.
Altiplano Metals는 산타 비아트리스 구리-금-철 광산 인수 계약을 2025년 12월까지 연장했습니다. 이 광산은 칠레 라 세레나에서 남쪽으로 45킬로미터, 엘 페뇨온 가공 공장에서 남쪽으로 13킬로미터 거리에 위치하며, 기술적 진척이 상당히 이루어졌습니다.
주요 발전 사항에는: 하부 광산 부분의 배수 및 수리 완료, 역사적인 광산 지역의 추가 150미터 노출, 그리고 대량 샘플링을 위한 3,500톤 구역 식별이 포함됩니다. 월세는 CLP3,500,000에서 CLP5,000,000로 증가하였으며, 원래의 매입 조건은 유지되고 있습니다.
현재 이 광산은 월 2,000톤 생산 허가를 보유하고 있으며, 칠레 소형 광업 허가에 따라 5,000톤으로 확장할 수 있습니다. 회사는 필요한 폭발물 허가를 확보하였으며, 2025년 1월 초에 엘 페뇨온 시설에서 첫 선적을 처리할 것으로 기대하고 있습니다. 특히, Altiplano는 2018년 12월 이후 구리 판매를 통해 2,250만 캐나다 달러 이상의 수익을 창출했습니다.
Altiplano Metals a prolongé son accord d’option pour acquérir la mine de cuivre-or-fer Santa Beatriz jusqu’en décembre 2025. La mine, située à 45 kilomètres au sud de La Serena, au Chili, et à 13 kilomètres au sud de l'usine de traitement d'El Peñón, a connu d'importants progrès techniques.
Les développements clés incluent : l'achèvement du drainage et de la remise à neuf des parties inférieures de la mine, l'exposition de 150 mètres supplémentaires de la zone minière historique, et l'identification d'une zone de 3 500 tonnes pour l'échantillonnage en vrac. Les paiements de loyer mensuels ont augmenté de CLP3 500 000 à CLP5 000 000, tout en maintenant les conditions d'achat initiales.
La mine détient actuellement un permis de production de 2 000 tonnes/mois, extensible à 5 000 tonnes sous les permis de petite exploitation minière chilienne. L'entreprise a obtenu les permis d'explosifs nécessaires et s'attend à traiter le premier envoi dans son installation d'El Peñón début janvier 2025. Notamment, Altiplano a généré plus de 22,5 millions de dollars canadiens grâce à la vente de cuivre depuis décembre 2018.
Altiplano Metals hat seinen Optionsvertrag zur Übernahme der Santa Beatriz Kupfer-Gold-Eisenmine bis Dezember 2025 verlängert. Die Mine, die 45 Kilometer südlich von La Serena, Chile, und 13 Kilometer südlich des Verarbeitungswerks El Peñón liegt, hat erhebliche technische Fortschritte erzielt.
Wesentliche Entwicklungen umfassen: den Abschluss der Entwässerung und Renovierung der unteren Mine, die Freilegung von 150 zusätzlichen Metern historischer Minenfläche und die Identifizierung einer 3.500-Tonnen-Zone für Großproben. Die monatlichen Mietzahlungen sind von CLP3.500.000 auf CLP5.000.000 gestiegen, während die ursprünglichen Kaufbedingungen beibehalten wurden.
Die Mine besitzt derzeit eine Produktionsgenehmigung für 2.000 Tonnen/Monat, die auf 5.000 Tonnen im Rahmen der kleinen Bergbaugenehmigungen in Chile ausgebaut werden kann. Das Unternehmen hat die erforderlichen Sprengstoffgenehmigungen gesichert und erwartet, die erste Lieferung Anfang Januar 2025 in seiner Anlage in El Peñón zu verarbeiten. Bemerkenswert ist, dass Altiplano seit Dezember 2018 über 22,5 Millionen kanadische Dollar aus dem Verkauf von Kupfer erwirtschaftet hat.
- Current production permit of 2,000 tonnes/month, expandable to 5,000 tonnes
- Generated C$22.5M from 6.95M pounds of copper sales (1.8% Cu grade) since Dec 2018
- Completed mine dewatering and refurbishment, exposing 150 additional meters
- Secured explosives permits for mining operations
- Processing facility already in place at El Peñón
- No feasibility study completed, increasing economic and technical risk
- Higher monthly rental payments from CLP3.5M to CLP5M
Edmonton, Alberta--(Newsfile Corp. - January 2, 2025) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce that the option agreement to acquire the Santa Beatriz copper-gold-iron (Cu-Au-Fe) mine has been extended for one year. Santa Beatriz is located approximately 45 kilometers south of La Serena, Chile, and 13 kilometers south of the El Peñón processing plant.
President and CEO Alastair McIntyre comments:
"We are very pleased with the technical progress and results at Santa Beatriz. Extension of the option provides us the opportunity to continue our exploration and development to support further underground work. Given the similarities to the Farellon mine and our positive technical results, we are encouraged that Santa Beatriz will reveal the potential to provide high grade low-cost material for our mill, generating positive returns for the Company."
Key Highlights:
Option Extension:
- Altiplano has extended its option to acquire Santa Beatriz until December 2025.
- The extension provides Altiplano the opportunity to continue exploration and mine preparation work. The original terms of final buyout remain the same with monthly rental payments increasing from CLP3,500,000 to CLP5,000,000.
Permitting:
- Current production permit for Santa Beatriz is currently 2,000 tonnes/month
- Production can be extended to 5,000 tonnes per month under the Chilean national small mining permitting process.
- The extension is expected after the company completes the appropriate development work. The permitting process can be completed within several weeks after submitting the request.
- The Company has obtained the required permits to work with and store explosives necessary to conduct ongoing mining activities
Mine Refurbishment and Sampling:
- Dewatering and refurbishment of the lower portions of the mine have been completed.
- An additional 150 meters of the historical mine area have been exposed, surveyed, mapped, and sampled (see Figure 1).
- Bulk Sampling
- A targeted initial 3,500-tonne zone of mineralized material has been identified for bulk sampling (see Figures 1).
- Processing:
- Copper, gold, and iron material extracted from the Santa Beatriz Mine will be processed at the Company's El Peñón processing facility.
- The first shipment produced at Santa Beatriz is expected to be received at the Plant in early January 2025.
Figure 1: Plan View of the Santa Beatriz Mine.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4303/235736_377099d274fd5a47_001full.jpg
The decision to develop the Santa Beatriz deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty of economic and technical risks of failure associated with any potential production decision.
Altiplano has generated over C
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 include an operating copper/gold/iron mine and a state-of-the-art operating copper/gold and iron processing facility in the final stages of completion. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Altiplano trades on the TSX.V under the symbol APN and the Frankfurt Exchange under the symbol A2JNFG.
John Williamson, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101, has reviewed, and approved the technical contents of this document.
Altiplano is part of the Metals Group of Companies, led by a dynamic group of resource sector professionals with a long record of success in evaluating and advancing mining projects from exploration through to production, attracting capital, and overcoming adversity to deliver exceptional shareholder value.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
Chairman
For further information, please contact:
Alastair McIntyre, CEO
alastairm@apnmetals.com
Tel: (416) 434 3799
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 facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating any historical information or estimates as current mineral resources or mineral reserves. The Santa Beatriz mine was previously in production mid 2010's with little known production records. This material was processed and sold locally to a private processing facility. Altiplano is relying upon limited past 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 mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any future potential 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235736
FAQ
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