VANCOUVER, British Columbia, July 21, 2022 (GLOBE NEWSWIRE) — Atico Mining Company (the “Firm” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) declares its working outcomes for the three months ended June 30, 2022 from its El Roble mine. Manufacturing for the quarter totaled 3.59 million kilos of copper and a couple of,811 ounces of gold in concentrates, a lower of 16% for copper and a rise of 4% for gold, over the identical interval in 2021.
“The El Roble mine delivered effectively regardless of having to cease operations for 24 days in April. The stoppage was a results of a landslide incident close to the dewatering facility, we’re very happy that no accidents resulted from this incident and that injury to tools was minor. Given the sturdy begin to the yr together with good efficiency through the working days of this quarter, the Firm is already again on monitor to ship on steerage for the yr” mentioned Fernando E. Ganoza, CEO. “In second half of the yr, we are going to proceed our sturdy focus in the direction of mine neighborhood exploration on the El Roble mine, seeking to lengthen mineralization at depth and alongside strike.”
Second Quarter Operational Highlights
- Manufacturing of three.59 million kilos of copper contained in concentrates; a lower of 16% over Q2 2021.
- Manufacturing of two,811 ounces of gold contained in concentrates; a rise of 4% over Q2 2021.
- Common processed tonnes per day of 889, no important change over Q2 2021.
- Copper head grade of three.17%, a rise of two% over Q2 2021.
- Gold head grade of two.47 grams per tonne; a rise of 24% over Q2 2021.
- Copper and gold restoration of 91.4% and 62.9%; no important change for each copper and gold over Q2 2021.
Second Quarter Operational Evaluate
General manufacturing was beneath Firm price range for the second quarter, solely defined by the twenty-four-day stoppage which resulted in lower than anticipated processed tonnes. The lower in copper manufacturing is especially defined by the lower in processed ore together with a slight lower in head grade over the identical interval final yr. The gold output fully offset the decrease processed tonnes within the quarter as we noticed a big enchancment in head grade relative to Q2-2021. The operation stays on monitor to ship on set steerage all through the rest of the yr.
Second Quarter Operational Particulars
|Q2 2022 Complete||Q2 2021 Complete||% Change|
|Manufacturing (Contained in Concentrates)|
|Copper (000s kilos)||3,591||4,312||-16%|
|Tonnes of ore mined||61,667||71,437||-14%|
|Tonnes processed per day||889||892||Nil|
|Copper grade (%)||3.17||3.10||2%|
|Gold grade (g/t)||2.47||2.00||24%|
|Copper and Gold Concentrates (dmt)||8,278||10,020||-17%|
|Payable copper produced (000s lbs)||3,411||4,070||-16%|
Notice: Steel manufacturing figures are topic to changes based mostly on closing settlement. The reported outcomes are preliminary in nature and are awaiting impartial lab verification.
The variety of shipments the Firm can export in any given quarter depends upon a number of variables a few of which the Firm doesn’t management, therefore there could also be an inherent variability in tonnes shipped quarter to quarter.
|Q2 2022 Complete|
|Quantities in dry metric tonnes|
|Variety of shipments||1|
Notice: Focus figures are topic to changes based mostly on closing settlement.
El Roble Mine
The El Roble mine is a excessive grade, underground copper and gold mine with nominal processing plant capability of 1,000 tonnes per day, positioned within the Division of Choco in Colombia. Its business product is a copper-gold focus.
Since acquiring management of the mine on November 22, 2013, Atico has upgraded the operation from a historic nominal capability of 400 tonnes per day.
El Roble has Confirmed and Possible reserves of 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold, at a cut-off grade of 1.3% copper equal as of September 30th, 2020. Mineralization is open at depth and alongside strike and the Firm plans to additional take a look at the bounds of the deposit.
On the bigger land package deal, the Firm has recognized a potential stratigraphic contact between volcanic rocks and black and gray pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been decided to be an vital management on VMS mineralization on which Atico has recognized quite a few goal areas potential for VMS sort mineralization incidence, which is the main focus of the present floor drill program at El Roble.
Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Firm and a professional individual underneath Nationwide Instrument 43-101 requirements, is accountable for guaranteeing that the technical info contained on this information launch is an correct abstract of the unique experiences and information supplied to or developed by Atico.
About Atico Mining Company
Atico is a growth-oriented Firm, centered on exploring, growing and mining copper and gold initiatives in Latin America. The Firm generates important money move by the operation of the El Roble mine and is growing its high-grade La Plata VMS mission in Ecuador. The Firm can also be pursuing extra acquisition of superior stage alternatives. For extra info, please go to www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
Atico Mining Company
Buying and selling symbols: TSX.V: ATY | OTC: ATCMF
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
No securities regulatory authority has both permitted or disapproved of the contents of this information launch. The securities being provided haven’t been, and won’t be, registered underneath america Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities legal guidelines, and will not be provided or bought in america, or to, or for the account or advantage of, a “U.S. individual” (as outlined in Regulation S of the U.S. Securities Act) until pursuant to an exemption therefrom. This press launch is for info functions solely and doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any securities of the Firm in any jurisdiction.
Cautionary Notice Concerning Ahead Wanting Statements
This announcement consists of sure “forward-looking statements” throughout the which means of Canadian securities laws. All statements, apart from statements of historic truth, included herein, with out limitation using internet proceeds, are forward-looking statements. Ahead- trying statements contain numerous dangers and uncertainties and are based mostly on sure components and assumptions. There could be no assurance that such statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. Essential components that might trigger precise outcomes to vary materially from the Firm’s expectations embody uncertainties regarding interpretation of drill outcomes and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and working prices; the necessity to acquire extra financing to keep up its curiosity in and/or discover and develop the Firm’s mineral initiatives; uncertainty of assembly anticipated program milestones for the Firm’s mineral initiatives; and different dangers and uncertainties disclosed underneath the heading “Danger Elements” within the prospectus of the Firm dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR web site at www.sedar.com