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Altiplano Metals Inc.

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Altiplano Receives First Payment for Processing of Material from its Initial 2,000 tonne Bulk Sample, Commences 5,000 tonne Bulk Sample
Altiplano Receives First Payment for Processing of Material from its Initial 2,000 tonne Bulk Sample, Commences 5,000 tonne Bulk Sample

Canada NewsWire

APN: TSXV
The ALTPF: OTCQB
9AJ1: FWB

EDMONTON, Feb. 19, 2018 /CNW/ - Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) ("APN" or the "Company") is pleased to announce the commencement of a 5,000 tonne bulk sample and to provide a progress report for its project at the historic Farellon and Maria Luisa Copper-Gold mines.

Mineralized bulk sample material taken from the NE face front on the 395M Level. (CNW Group/Altiplano Minerals)

Up to February 16, 2018, the Company has taken a 2,000 tonne bulk sample of Cu-Fe-Au vein material from the 395M Level drift. To date, 946 tonnes of Cu-Fe-Au vein material have been shipped and processed (Table 1). The remaining 1,054 tonnes are stockpiled on site awaiting shipment for toll processing.

Table 1: Processed Cu-Fe-Au Vein Material

Date

Wet MT

Humidity (%)

Dry MT

Copper Grade (%)

nov-28

27,56

4,0

26,458

1,52

nov-28

25,06

2,1

24,534

1,86

nov-29

26,03

2,7

25,327

1,28

nov-29

25,12

4,0

24,115

1,23

Jan 05

32,80

2,4

32,013

2,33

Jan 08

37,73

2,7

36,711

2,40

Jan 08

34,18

2,4

33,360

2,45

Jan 09

29,14

2,0

28,557

2,64

Jan 10

31,44

4,0

30,182

2,79

Jan 11

18,94

4,0

18,182

2,21

Jan 11

29,18

4,0

28,013

2,02

Jan 11

31,52

4,0

30,259

2,23

Jan 12

27,17

2,0

26,627

2,13

Jan 12

34,01

4,0

32,650

2,38

Jan 15

27,32

3,0

26,500

2,28

Jan 15

24,85

2,8

24,154

1,90

Jan 15

25,28

3,0

24,519

2,33

Jan 16

25,43

4,0

24,413

1,68

Jan 16

26,02

3,9

25,018

1,80

Jan 16

29,05

4,0

27,888

1,86

Jan 16

24,85

2,0

24,353

1,83

Jan 17

24,64

2,0

24,147

1,54

Jan 17

26,86

2,0

26,323

1,32

Jan 17

27,38

2,0

26,832

1,75

Jan 17

25,52

3,9

24,525

1,27

Jan 18

26,18

4,0

25,128

1,61

Jan 23

24,05

4,0

23,393

1,66

Jan 23

24,49

4,0

23,821

2,44

Jan 24

25,80

4,0

25,096

2,09

Jan 24

27,40

3,3

26,496

2,65

Jan 25

26,68

2,0

25,954

2,19

Jan 25

23,27

2,0

22,637

2,31

Jan 25

27,86

3,0

27,102

2,40

Jan 25

15,27

2,0

14,965

1,82

Jan 26

27,94

2,0

27,381

1,99


946,02

3,00

917,634

2,030

 

The Company has submitted revisions of its toll milling contracts ("Patrons") to include gold credits.  Once approved, Altiplano will re-commence delivery of Cu-Fe-Au stockpiles for processing.  Gross revenue received from the delivery and sale of the initial 946 tonnes of Cu-Fe-Au material is US$73,000 including recuperation of IVA tax credits.

During the month of February, the Company has extracted 300 tonnes of Cu-Fe-Au vein material from the 395M level. During the balance of the month, the Company intends to open additional drift levels to increase the volume of material accessible for future testing and toll processing as part of its 5,000 tonne bulk sample.

CEO John Williamson stated, "We are excited that sales of Cu-Au vein material have commenced. The initial 2,000 tonne bulk sample clearly demonstrated that we have the width, continuity and dilution control to achieve a grade of 2% Copper, or greater. We have extracted up to 2,300 tonnes of material per month and we'd like to expand our capacity to 5,000 tonnes per month. We are now undertaking a 5,000 tonne bulk sample that will, in addition to providing information for resource estimation, allow us to assess the costs, methods and infrastructure required to optimize operations under Chile's progressive mining regime. We are continuously upgrading our capability with the goal of improving our processing capacity to 5,000 tonnes per month, while maintaining grade and defining a maiden resource and reserve. So far, everything is advancing as planned."

As part of its ongoing program, Altiplano is carrying out the recommendations contained in the APEX Report of February 10, 2017 filed on SEDAR for the exploration development of the Farellon project and is also relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization. There are no mineral resources or reserves on the property and the current mineral exploration activities are intended to be part of a program to determine if mineral resources can be identified. No production decision has been made at this time. Should a production decision be made without completing a feasibility study demonstrating economic and technical viability, there would be increased uncertainty as well as economic and technical risks of failure associated with such a production decision.

Osbaldo Zamora Vega, P.Geol., Vice President of Exploration for Altiplano, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical contents of this press release.

About Altiplano

Altiplano Minerals Ltd. (APN: TSXV) is a mineral exploration company focused on evaluating and acquiring projects with significant potential for advancement from discovery through to production, in Canada and abroad.  Management has a substantial record of success in capitalizing opportunity, overcoming challenges and building shareholder value.  Additional information concerning Altiplano can be found on its website at www.altiplanominerals.com.

ON BEHALF OF THE BOARD

/s/ "John Williamson"
President and CEO

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. 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.sedar.com.

SOURCE Altiplano Minerals

View original content with multimedia: http://www.newswire.ca/en/releases/archive/February2018/19/c1212.html

Jeremy Yaseniuk, Director, jeremyy@altiplanominerals.com, Tel: (604) 773-1467Copyright CNW Group 2018

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