Altiplano Metals commences underground exploration at Maria Luisa gold-copper mine in Chile

Altiplano Metals Inc is increasing its operations at the Maria Luisa gold-copper mine near Incahuasi, Chile.

The company said work at Maria Luisa has begun with site excavation and road work to support the construction of the decline. Initial work has also started on the decline entrance where several rounds of drilling and blasting have been completed.

Altiplano said it recently obtained an Exploitation Permit to begin underground exploration and development work at Maria Luisa, as the permit provided the opportunity to begin the surface and underground work required to commence the decline tunnel. 

READ: Altiplano Metals reports assay results from ongoing exploration program at Farellon copper-gold mine in Chile

The Maria Luisa decline is designed to access gold-copper mineralized veins through multiple access points on multiple levels. 

To support the underground work, the company said it has purchased a XC 928 Scoop with 1-meter 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,” said CEO Alastair McIntyre in a statement. “We are very pleased to get this project permitted and 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.”

Altiplano said the Maria Luisa project location hosts good infrastructure required to support the surface exploration and underground development. This includes power located within 3 kilometers (km)  of the town of Incahuasi and accessible by paved road within 3 km of site. Adequate water supply is available which can be used for drilling and underground operations, as water is also expected to be recirculated from underground as the decline advances to lower levels.

The company said work on the decline will operate with daily shifts where a total advance of 65m will be required to reach the 883m level (about 20m 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 ton (g/t) gold and 1.89% copper. 

From this area, the company said it 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 said it 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% copper.

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 15 km from the Farellon site.

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