Altiplano Metals Inc. (TSXV: APN) has reported impressive November 2021 results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.
During November 2021, a total of approximately 3,965 tonnes of mineralised copper-gold material was extracted at Farellon, and 2,980 tonnes were sent for processing, representing a 30% improvement over the 2,285 tonnes processed in October.
Grade in November improved to 1.94% for the month compared to the October grade of 1.44%. Grade improvements are attributed to accessing higher grade material in the NE sections of the mine in the 376 m and 368 m levels with overall grade control and waste management also being contributors.
Revenue generated in November was approximately US$373,700 after processing costs, representing the highest monthly revenue since Farellon began operations in Q1 2018. Revenue improvements are attributed to grade control and firmer copper prices during the period.
At November month end, an additional 700 tonnes were stockpiled at site where the revenue will be credited to the following months after processing has been completed. In addition, 1,400 tonnes of low-grade copper/high grade iron are stockpiled at site for processing at El Peñón site when completed.
“We are pleased to see the improvements in grade at Farellon and the resulting increase in record revenue. Our focus will continue on grade and mine development thus enabling us to leverage production opportunities and maximize our returns,” CEO Alastair McIntyre said.
Altiplano has generated over US$7,200,000 from the recovery and sale of 3.597 million pounds of copper with an average grade of 1.74% Cu (2018 Q1-2021 Q3). Cash flow has been re-invested into equipment, underground drilling, expanding underground development at Farellon, enhancing ventilation to increase productivity and capacity, new development and exploration at Maria Luisa, and the commencement of the permitted El Peñón fit-for-purpose mill and flotation plant located 15 km from the Farellon site.
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