17 Nov Altiplano Metals reports record Q3 results from copper-gold mine in Chile
TSXV-listed Altiplano Metals has reported a set of improved third quarter production results from its Farellon copper-gold mine in Chile.
During Q3, the company extracted 9,660 tonnes of mineralised copper-gold material at Farellon and processed a record 10,760 tonnes – a 54% increase on the preceding quarter.
In addition, Altiplano improved its revenues by 73% on the previous quarter, generating a record US$830,000 in Q3.
“I am pleased to announce a milestone quarter in Q3 with the highest sales and processing figures generated in the company’s three years operation history at Farellon,” said CEO Alastair McIntyre.
“This achievement is a result of management’s focus on operating on multiple underground working levels and development headings. This approach allows us to improve our extraction efficiencies and monitor grade control.
“The company has now produced greater than 2.5 million pounds of copper and we are closing in on another important milestone of reaching $5 million in revenue. In addition, Farellon is now in its eighth straight quarter of generating positive cash flow from operations.”
Farellon is an iron-oxide copper-gold mineralised system located near the town of La Serena in Northern Chile. The deposit is currently being developed and explored from an underground decline and drift system.