Last update on drilling at Santa Beatriz Altiplano Metals Inc. has commenced a diamond drilling program at the historic Santa Beatriz iron-oxide-copper-gold (IOCG) mine. Santa Beatriz is located approximately 45 kilometres south of La Serena, Chile, and 13 kilometres south of the El Penon processing plant.
The drill program will consist of a minimum of four holes averaging 125 metres per hole, targeting the Santa Beatriz main vein. The primary objective is to confirm the continuity of the vein below the lowest historically mined level (level 416). Additionally, the program aims to assess mineralization continuity and grade consistency 25 to 40 metres below level 416, where previous underground channel sampling yielded positive results (news release dated May 27, 2024).
Results from this drill program, combined with the continuing bulk sampling data (news release dated Jan. 15, 2025), will be used to support an evaluation to construct a decline to access at least three deeper extraction levels at Santa Beatriz. Expanding mining operations to lower levels could enhance Cu-Au-Fe (copper-gold-iron) mineralized material production and increase supply for the El Penon processing facility. Seven additional untested IOCG veins are hosted within the Santa Beatriz concession that are also future drill targets. The mine is situated within Chile's copper-rich IOCG belt, specifically in the Tambillos district.
President and chief executive officer Alastair McIntyre comments:"We are excited to take this next step of technical review at Santa Beatriz. The drill program has been designed specifically to confirm the continuity of mineralization along strike and downdip within the Santa Beatriz vein system to support ongoing underground development. This type of program is ideally suited for use with the company's owned drill rig that can be efficiently mobilized to obtain cost effective results."
Altiplano has generated over $22.8-million from the recovery and sale (after processing costs) of more than 6.95 million pounds of copper with an average grade of 1.8 per cent Cu (December, 2018, to September, 2024). Cash has been reinvested into acquisition, exploration, new equipment, underground drilling, expanding underground development and production, and the completion of the El Penon copper-gold-iron processing facility, located 30 kilometres from La Serena, Chile.