Altiplano Metals Inc. (TSXV: APN) has report improving November 2022 operating results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.
During the month of November, approximately 4,110 tonnes of mineralized copper-gold material was produced at Farellon with approximately 2,950 tonnes shipped and processed. The November production represents an increase of 2.5% over the October output of 4,010 tonnes.
Processing in November increased by 23.5% over the October figure of 2,390 tonnes processed. The copper grade at Farellon observed in November at 2.10%, represents an improvement from the 1.87% observed in October and represents the second highest monthly grade in 2022 and third highest overall.
Increased production and good copper grades generated the second highest amount of copper sales from Farellon on record in November at 131,153 pounds.
Revenue generated in November was approximately US$308,000 after processing costs, representing a 34% improvement over October’s revenue of US$213,900.
At November month end, an additional 440 tonnes were stockpiled at site with 1,528 tonnes in process at ENAMI. The revenue from this material will be credited in the following months after processing has been completed. Lower grade stocks of 1,400 tonnes have been shipped to the El Peñón processing facility in advance of startup. In total, an estimated 3,000 tonnes are stockpiled at the mill and available for processing.
“The November operating results at Farellon highlight continuing operational improvements in our mining processes. It is very encouraging to observe increasing copper grade as we begin operations at lower mining levels. Higher grade has a significant influence on our operating performance, especially as we move to lower levels and, in addition, transition to producing a concentrate at the El Peñón processing facility,” CEO Alastair McIntyre said.
The Hugo Decline reached the 344-level m in November where mining commenced in the NE and SW directions. Mining operations continue the 360 m and 352 m levels with bench mining also being conducted between the 360 and 369 levels. Work on the escape way vent from the 352 level to the 382 level was completed in November to improve the ventilation of the decline and provide addition emergency access. Scaling to widen portions of the main decline continues in preparation of improving traffic flows from underground to surface.
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