Farellon Copper-Gold Mine Reports Second Highest Monthly Grade In 2022

EDMONTON - Altiplano Metals Inc. reported that 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 3rd 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.

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 Penon processing facility in advance of startup. In total, an estimated 3,000 tonnes are stockpiled at the mill and available for processing.

CEO Alastair McIntyre, said, "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 Penon processing facility."