Deposit types found in the La Serena region of northern Chile include massive magnetite, Manto-Style copper-(silver), iron oxide-copper-gold (IOCG) deposits, and copper-gold veins potentially related to porphyry systems. These deposits are found within the early-Jurassic to mid-Cretaceous rocks, and appear to be formed through regional faulting and extension and localized structural systems. Review of the historic literature and a site visit completed by the authors determined that the primary exploration target for the Farellon project is copper-gold veins as each comprise high-grade structures with these metals.

The Farellon area lies in the contact zone between regional granodiorite and diorite bodies to the west and north respectively, as well as Cretaceous-aged formations of stratified rocks including volcaniclastic sediments, tuffs, limestones and sandstones. The proximity of the intrusive bodies produced contact metamorphism (hornfels) and metasomatism, resulting in areas of skarnification and strong silicification (Denmark, 2008).

The intrusions and subsequent movement produced a complex structural system. The dominant fractures in the stratified rocks and intrusive rocks are orientated between 50o (northeast) and 75o (east-northeast).

Secondary fracturing is mainly in an east-west orientation, with sporadic downdropping of the rocks to the south (Denmark, 2008).

While the geological map shows much of the Farellon Project ........

Altiplano has been recovering Cu-Au mineralized material from an underground decline through a series of drifts.

Q4 2022 mining activity focused on extraction of copper-gold bearing material on the 360 m and 352 m levels where selected grades in the NE section yielded copper greater than 2% with vein widths exceeding 8 m in certain locations. Bench mining continued between the 360 m and 352 m levels in the NE section of the mine. Work on widening the main parts of the Hugo Decline was conducted to improve accessibility for specialized haulage trucks to be used starting in Q1 2023 to improve extraction efficiencies. An escapeway chimney was completed between the 352 m and 382 m levels, improving accessibility and ventilation between levels. Development expansion to the 344 m level was completed in Q4 and work has begun with the extension to the 336 m level. The advancement of the decline provides access to deeper parts of the vein system.

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