Altiplano finds sulphides at Santa Beatriz vein

Executive Summary

• Altiplano Metals intersected the Santa Beatriz copper‑gold‑iron vein at the 425 m level and began underground mining and shipments to its El Penón processing plant.
• The Chilean regulator approved a 42‑month mine‑plan extension permitting up to 4,275 t per metre and additional openings, enabling further expansion.
• September production is projected at ~3,000 t with daily output of 120–140 t; new development on the 400 m level will start week of Sept 15 with intersection expected early October.

Key Details

• Tunnel Development: Initial tunnel entered at 437 m, advanced 63.4 m to intersect the vein at 425 m; massive chalcopyrite, pyrite, bornite and magnetite encountered.
• Mining Operations: Extraction began in two directions (north & south extensions) on Level 425; daily production target 120–140 t, September total ~3,000 t.
• Shipments: First shipments of copper/gold and iron concentrates dispatched to the El Penón processing facility.
• Further Development: New lower tunnel access at 414 m will support two additional faces at the 400 m level; work slated to begin week of Sept 15, with intersection expected early October.
• Regulatory Permit: Sernageomin approved a 42‑month mine‑plan extension allowing extraction up to 4,275 t per metre and authorizing two extra openings (three total).
• Production History: $23.8 M generated from sale of >8.2 M lb copper (average 1.8% Cu) covering Jan 2018 – Mar 2025; proceeds reinvested in acquisitions, exploration, equipment, drilling, underground development, and completion of the El Penón plant.
• Qualified Person: Technical content reviewed by John Williamson, P.Geol., qualified person (NI 43‑101).

Notable Quotes

“The ramp developments at the 425‑metre and 400‑metre levels represent a key milestone in advancing the Santa Beatriz mine toward maximum output… we are also very pleased to receive the mine extension permit… providing us the opportunity to increase mineral production and sale of copper/gold and iron concentrates.” – Alastair McIntyre, President & CEO.