Resource News

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended June 30, 2022 from its El Roble mine. Production for the quarter totaled 3.59 million pounds of copper and 2,811 ounces of gold in concentrates, a decrease of 16% for copper and an increase of 4% for gold, over the same period in 2021.

"The El Roble mine delivered well despite having to stop operations for twenty-four days in April. The stoppage was a result of a landslide incident near the dewatering facility, we are very pleased that no injuries resulted from this incident and that damage to equipment was minor. Given the strong start to the year along with good performance during the operating days of this quarter, the Company is already back on track to deliver on guidance for the year" said Fernando E. Ganoza, CEO. "In second half of the year, we will continue our strong focus towards mine vicinity exploration at the El Roble mine, looking to extend mineralization at depth and along strike."

Second Quarter Operational Highlights

  • Production of 3.59 million pounds of copper contained in concentrates; a decrease of 16% over Q2 2021.
  • Production of 2,811 ounces of gold contained in concentrates; an increase of 4% over Q2 2021.
  • Average processed tonnes per day of 889, no significant change over Q2 2021.
  • Copper head grade of 3.17%, an increase of 2% over Q2 2021.
  • Gold head grade of 2.47 grams per tonne; an increase of 24% over Q2 2021.
  • Copper and gold recovery of 91.4% and 62.9%; no significant change for both copper and gold over Q2 2021.

Second Quarter Operational Review

Overall production was below Company budget for the second quarter, entirely explained by the twenty-four-day stoppage which resulted in less than expected processed tonnes. The decrease in copper production is mainly explained by the decrease in processed ore along with a slight decrease in head grade over the same period last year. The gold output completely offset the lower processed tonnes in the quarter as we saw a significant improvement in head grade relative to Q2-2021. The operation remains on track to deliver on set guidance throughout the remainder of the year.

Second Quarter Operational Details

Q2 2022 Total Q2 2021 Total % Change
Production (Contained in Concentrates)
Copper (000s pounds) 3,591 4,312 -16%
Gold (ounces) 2,811 2,699 4%
Mine
Tonnes of ore mined 61,667 71,437 -14%
Mill
Tonnes processed 56,172 68,238 -18%
Tonnes processed per day 889 892 Nil
Copper grade (%) 3.17 3.10 2%
Gold grade (g/t) 2.47 2.00 24%
Recoveries
Copper (%) 91.4 92.6 Nil
Gold (%) 62.9 62.0 Nil
Concentrates
Copper and Gold Concentrates (dmt) 8,278 10,020 -17%
Payable copper produced (000s lbs) 3,411 4,070 -16%

Note: Metal production figures are subject to adjustments based on final settlement. The reported results are preliminary in nature and are awaiting independent lab verification.

Concentrate Inventory

The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.

Q2 2022 Total
Amounts in dry metric tonnes
Opening inventory 9,732
Production 8,278
Sales (4,472)
Number of shipments 1
Adjustment (80)
Closing inventory 13,458

Note: Concentrate figures are subject to adjustments based on final settlement.

El Roble Mine

The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.

Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.

El Roble has Proven and Probable 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 equivalent as of September 30 th , 2020. Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit.

On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.

Qualified Person

Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.

About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com .

ON BEHALF OF THE BOARD

Fernando E. Ganoza
CEO
Atico Mining Corporation

Trading symbols: TSX.V: ATY | OTC: ATCMF

Investor Relations
Igor Dutina
Tel: +1.604.633.9022

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act''), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company's mineral projects; uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com


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ATY:CA
atico

Atico Mining

Overview

Volcanogenic massive sulphide (VMS) deposits are some of the world’s most prosperous base metal and precious metal deposits. This type of deposit is found across the globe, and often forms in clusters. The oldest known VMS deposits date back three billion years, and new ones are still being formed. VMS deposits have impressive mineralization and high grades, but only 2.2 percent of world gold production and 6 percent of copper production currently comes from VMS deposits.

Atico Mining (TSXV:ATY,OTC:ATCMF), operating in Colombia and Ecuador, has two projects that are VMS style surrounded by large land packages. Such strategic positioning gives Atico the potential to mimic successes seen with the Fortuna Silver Mines (TSX:FVI,NYSE:FSM), a company with an estimated market cap of US$2 billion that was founded by the team currently leading Atico.

“We have a very strong production profile along with a pipeline of growth prospects for a small company. And we generate a robust free cash flow from which we can finance all of our exploration plans,” commented Igor Dutina, the company’s Corporate Development lead.

The stable mining jurisdictions of Latin America have proven to be a premier place for acquisition and mining development for Atico. The company is also looking at avenues of growth in the possible acquisition of a third project.

The company’s flagship El Roble mine in Colombia has proven to be an extremely valuable asset. The gold-copper mine generates roughly 21 million pounds of copper and 11,000 ounces of gold per year with a life of mine of about four years. This VMS asset primes the company to achieve the mid-tier producer level Atico intends on reaching.

The company’s second asset, the La Plata project in Ecuador, is a pre-development stage asset with a mineralized profile containing high-grade gold, copper, zinc and silver. Past exploration campaigns and a completed PEA have also aided in pushing along this highly prospective asset’s advancement. With 60 percent ownership of the project and an earn-in option of up to 75 percent, the future of La Plata has tremendous exploration and development potential.

In December 2020, Atico Mining announced the closing of US$6.5 million of its unsecured convertible debenture private placement. This news follows its report announcing US$5 million in income from mining operations a month earlier. The company intends to use funds and proceeds from the offering to further advance its La Plata project, including a full feasibility study delivered by mid 2022.

Atico Mining has a world-class team of mine developers and mine operators. With several generations of mining in Latin America and extensive experience in the industry and regional networking sectors, this team understands the mining industry. Moving into 2021, Atico intends to generate significant cash flow at the El Roble mine and explore its highly prospective VMS targets.

Company Highlights

  • Atico Mining is a Canada-based mining exploration and development company operating out of Latin America. The company is headed by the founders of the mining heavyweight Fortuna Silver Mine.
  • The company’s primary focus is its robust flagship El Roble Mine project in Colombia as well as the La Plata project in Ecuador. Both assets are VMS deposits with high-grade copper and gold mineralization clustering.
  • Atico Mining’s well-engineered business model primes the company for the self-financing potential to the benefit of shareholders and future investors. This model helps to focus on free cash flow generation and reduce dilution.
  • The El Roble project currently generates roughly 21 million pounds of copper and around 11,000 ounces of gold per year. The mine has a projected four-year mine life and high-margin potential.
  • The La Plata project has a completed PEA and hosts highly prospective exploration targets. The company is currently working on a 2022 feasibility study.
  • The company acquired the remaining 40 percent of the issued and outstanding shares of Compañia Minera La Plata S.A. (, which owns the concessions comprising the La Plata project

Key Projects

El Roble Mine

Atico’s El Roble mine is the only copper mine currently in production in Colombia. Under-explored until 1990, the 6,355 hectare asset has processed approximately 1.8 million tonnes of primarily pyrite-chalcopyrite ore with an average grade of 2.67 percent copper and an approximate grade of 2.63 g/t gold. Currently, the mine has an 850 tonne per day throughput capacity and 15 prospective geochemical VMS exploration targets that extend over 10 kilometers across the property.

The land package, which is located in Carmen de Atrato, also leverages a strategically positioned infrastructure with proximity to paved roads, a power grid and established mine and plant facilities on site. As of January 2021, the company owns 90 percent of the operating mine and surrounding claims.

Future plans for the project include a continued focus on drilling into recently discovered resources and mineralization exploration along the strike’s depth. With the impressive cluster profile of VMS deposits, El Roble has the potential to generate significant cash flow and shareholder returns for the company as production advances. The current available free cash flow stands at approximately US$13 million.

La Plata Project

This Noranda/Kuroko-type VMS deposit hosts nine priority exploration targets over a land package that spans 2,300 hectares near Quito, Ecuador. Surrounded by large Atico-controlled land packages, the property operates in an investor-friendly jurisdiction with governmental mining support. It hosts an infrastructure with high road accessibility and good natural resource networks.

This pre-development asset hosts the characteristic VMS cluster profiling which reinforces the prospect of further nearby deposits and significant exploration potential. Currently, La Plata has prospective resources of 1.9 million tonnes at 12.9 grams per tonne gold equivalent mineralization. Historic resources based on past drilling campaigns are estimated at 913,977 tonnes graded at 8.01 g/t gold and 5.01 percent copper. High-grade silver, lead and zinc have also been found along the over 9 kilometers of favorable strike geology on the property.

Atico Mining has been quick to begin exploring and developing this exciting project after its acquisition in late 2019. By 2022, the company intends on completing a full feasibility study for the project and to prepare the asset for the initial development of prospective targets.

Management Team

Fernando E. Ganoza B. Sc. Engineering, MBA—CEO & Director

Fernando E. Ganoza has over 15 years of management experience in Latin America, including key roles in developing mines in Peru and Mexico as the project manager and country manager for Canada-based producer Fortuna Silver Mines Inc.

He has strategic planning and business development experience with Cargill, at which he participated in the valuation and structuring of deals with a cumulative value of over US$350 million. Fernando holds a BSc. in Mining Engineering from the Universidad de Antofagasta in Chile and an MBA from the Darden School of Business at the University of Virginia.

Luis D. Ganoza B.Sc. Engineering, MBA, M.Sc.—Chairman of the Board

Luis D. Ganoza has held the position of CFO in Fortuna Silver Mines Inc. since 2006 and has over 12 years of experience in the financial management of public mining companies. He has participated in debt and equity financings for mining projects in Peru and Mexico for over C$120 million. Luis has a B.Sc. in Mining Engineering from the Universidad Nacional de Ingenieria in Peru; an MBA from ESAN, a Tier 1 Latin American Business School; and an M.Sc. in Accounting and Finance from The London School of Economics.

Jorge Ganoza A. B. Sc. Engineering—VP Operations & Director

Jorge Ganoza has over 40 years of experience in the Latin American mining industry, holding senior leading roles in the founding and development of private and public mining companies.

For the past six years, he has held the position of VP of Operation in Fortuna Silver Mines Inc. Jorge has a B.Sc. in Engineering from the Universidad Nacional La Molina and also completed advanced finance studies at the Escuela Superior de Administration, ESAN, in Peru. Jorge is a third-generation miner from a Peruvian family that has owned and operated underground gold, silver and base metal mines in Peru and Panama.

Alain Bureau, B.Sc. Professional Engineering—President

Alain Bureau has over 25 years of leadership in project management, operating in North and Latin American countries gained through notable projects including mines in Peru, Chile, Mexico, Panama and Canada.

Joseph A. Salas B. Sc. Geological Engineering—Senior Exploration Manager

Joseph A. Salas has 20 years of experience in exploration, mine geology, project evaluation and development with vast expertise in gold-copper and copper-molybdenum porphyries in Colombia and Peru.

For the past three years, he has held the position of Exploration Country Manager in Colombia for Barrick Gold Corporation. From 1996 to 2002, he worked in various exploration positions of increasing responsibility for Anglo American. Joseph has a B. Sc. in Geological Engineering from the Universidad Nacional de San Agustín de Arequipa in Peru and is affiliated with the Society of Economic Geologists Inc.

Matias Herrero—CFO

Matias Herrero is a Canadian chartered accountant, with 15 years of progressive senior level experience as a mining professional in various areas including finance, mergers and acquisitions, international arbitration, treasury management, risk management, regulatory compliance, and multi-jurisdictional public company reporting. Prior to joining Atico, Mr. Herrero served as the CFO before becoming the CEO of Gold Springs Resource Corp. Prior to that, he served as the CFO of a gold producer in South America.

He began his career with PricewaterhouseCoopers and gained experience working in senior management roles in publicly-traded companies with gold projects in North America, South America, and Africa. Mr. Herrero earned a bachelor’s degree in accounting from the University of Belgrano in Buenos Aires, Argentina, he is fluent in English and Spanish and holds a CPA in both Colorado and Washington.

Igor Dutina, BA Marketing Mgmt, Econ—Corporate Development

Igor Dutina has an extensive background in financial and capital market analysis, with more than 12 years of experience in the mineral exploration and mining industry, working with several publicly listed companies.

TSXV:ATY

Atico Mining Discovers New Massive Sulfide and Provides Exploration Update

Atico Mining Corporation (the “Company” or “Atico”)(TSXV:ATY) is pleased to announce preliminary results of a 15 holes, 2863 meter drill program (ATDHAR-05 to ATDHAR-19) that tested a 450 meter strike length between the northern end of the El Roble mine and a historical intersection of massive sulfide mineralization at Archie target.
Results from holes ATDHAR-05, ATDHAR-08, ATDHAR-09 & ATDHAR-10 have been received, while results from the remaining holes ATDHAR-06, ATDHAR-07, ATDHAR-11 to ATDHAR-19 are pending. Data from drill holes ATDHAR-01 to ATDHAR-04, referred to below have been reported in a previous news release dated June 26, 2013.
Fernando E. Ganoza, CEO, commented: “Intercepting a copper-rich massive sulfide fragment at the Archie target, just north of El Roble Mine, along with the newly discovered geological indications has made this site a near term priority. We will continue assessing the Archie information as it becomes available to delineate the next phase of drilling while also continuing the preparation of additional targets.”
Regional Exploration Drilling Update
The highlight of the drill program was an intersection of 2.8 meters of copper-rich massive sulfide from 18 meters in hole ATDHAR-09. The intercept assayed 2.39 % Cu, 1.69 g/t Au and 6.5 g/t Ag. Hole ATDHAR-05 intersected 3.3 meters of 1.00% Cu, 0.88 g/t Au and 3.9 g/t Ag from 2.2 meters. Hole ATDHAR-08 intersected 3 meters of 1.17% Cu, 2.24 g/t Au, 6.59 g/t Ag from 157.2 meters. Hole ATDHAR-10 intersected 5.5 meters of 1.27% Cu, 0.17 g/t Au and 6.66 g/t Ag from 2.5 meters. Holes ATDHAR-03, ATDHAR-04 and ATDHAR-09 encountered “black chert”, the favorable host horizon, strongly anomalous in silver at depth some 280 meters north of the Zeus mineralization. Likewise silver is strongly anomalous near the top of hole ATDHAR-02. Geochemically anomalous silver has been shown to form a halo around massive sulfide mineralization.
The drill program has significantly clarified the geology of the area between the El Roble mine and the Archie target. A sub-vertical fault filled by andesitic dykes north of the Zeus mineralization has been verified. North of this boundary there is a change in attitude of the prospective basalt-“black chert” contact from sub-vertical to east-dipping. Consequently any future exploration to trace the extent to the massive sulfide intercept in hole ATDHAR-09 should be directed to intersect this east-dipping contact at depth and along strike toward the El Roble Mine.
Hole IDFrom
(m)
To
(m)
Interval
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
ATDHAR-027.256.048.8nsrAnomalous
ATDHAR-03239.5242.02.5nsrAnomalous
ATDHAR-04296.0303.77.7nsrAnomalous
ATDHAR-052.25.53.31.000.883.9
ATDHAR-08157.2160.23.01.172.246.59
ATDHAR-0918.020.82.82.391.696.5
ATDHAR-102.58.05.51.270.176.66
nsr – No Significant Result

El Roble Mine
The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 800 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.
Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.
El Roble has a measured and indicated resource of 1.87 million tonnes grading 3.46% copper and 2.27 g/t gold, at a cut-off grade of 0.93% copper equivalent. Mineralization is open at depth and along strike and the Company plans to further test the limits of the resource.
On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.
Qualified Control
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified person under NI 43-101 standards and independent of the Company, is responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico Mining Corporation. Dr. Pohl has approved the scientific and technical content of this news release.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO
Atico Mining Corporation
Trading symbols: (TSX VENTURE:ATY)(OTC PINK:ATCMF)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.

CONTACT INFORMATION
  • Atico Mining Corporation
    Investor Relations
    Igor Dutina
    +1.604.633.9022

Click here to connect with Atico Mining Corporation (TSXV:ATY) to receive an Investor Presentation.

Source: www.marketwired.com

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Gold Investing

Atico Reports Consolidated Financial Results for the Second Quarter of 2017

Atico Mining Corporation (the “Company” or “Atico”)(TSXV:ATY) today announced its financial results for the three months ended June 30, 2017, posting a net income of $0.62 million.
Fernando E. Ganoza, CEO and Director, commented, “We are pleased to report a strong second quarter with improvements in most operating and financial metrics over the same period last year. Overall, the financial performance and position of the Company has improved significantly in the first half of the year over the same period last year. We anticipate this trend will continue throughout the remainder of 2017. Mr. Ganoza continued, “For the second half of this year, our continued emphasis will be on further strengthening our balance sheet, improving production costs and focusing on the regional and underground exploration drill programs.”
Second Quarter Financial Highlights
  • Net income for the three months ended June 30, 2017 (“Q2-2017”) amounted to $0.62 million, compared with loss of $1.41 million for the same period last year (“Q2-2016”). Net income for the quarter was positively affected by an increase in revenue (increase in realized copper price of 26.4%), partially offset by an increase in direct mining and processing costs and a decrease in non-operating income.
  • Sales for the period increased 285% to $14.1 million when compared with Q2-2016. The increase is due to an increase in concentrate shipped and provisionally invoiced and a higher realized copper price as compared to Q2-2016. Copper (“Cu”) accounted for 95.3% and gold (“Au”) 4.7% of total amount provisionally invoiced during Q2-2017. The average realized price per metal on provisional invoicing was $2.63 (Q2-2016 – $2.08) per pound of copper and $1,248.83 (Q2-2016 – $1,263.85) per ounce of gold.
  • Working capital was $3.9 million (December 31, 2016 – $1.7 million) while long-term loans payable outstanding was $5.1 million (December 31, 2016 – $5.6 million).
  • Cash costs(1) were $115.37 per tonne of processed ore and $1.30 per pound of payable copper produced(2), a 28% and 35% increase over the same period last year, respectively.
  • Income from operations was $2.32 million while cash flow from operations, before changes in working capital was $4.64 million. Cash used for capital expenditures amounted to $2.88 million.
  • At the quarter-end, 2,900 wet metric tonnes of non-invoiced concentrate remained at the Company’s warehouses.
  • All-in sustaining cash cost per payable pound of copper produced(1)(2) for Q2-2017 was $1.96 (Q2-2016 – $1.50).

Second Quarter Summary of Financial Results

Q2
2017
Q2
2016
%
Change
Revenue$ 14,074,005$ 3,659,067285%
Cost of sales(10,001,505)(3,661,942)173%
Income (loss) from mining operations4,072,500(2,875)141,752%
As a % of revenue29%0%36,928%
Selling, general and administrative expenses1,647,5621,468,15912%
Income (loss) from operations2,320,219(1,619,135)137%
As a % of revenue16%-44%137%
Income (loss) before income taxes1,767,112(1,715,008)203%
Net income (loss)615,847(1,413,402)144%
As a % of revenue4%-39%111%
Operating cash flow before changes in non-cash operating working capital items(1)$ 4,640,042$ 29,54315,606%

Second Quarter Operations Review
During the quarter, the Company produced 5.2 million pounds (“lbs”) of copper, 2,570 ounces (“oz”) of gold, and 10,005 oz of silver. When compared to Q2-2016, production increased 8% for copper and decreased 13% for gold. The increase in copper produced is mainly explained by an 8.5% increase in the copper head grade slightly offset by a 2% decrease in processed material. In the case of gold, a decrease of 5.9% in the head grade along with the lower processed material and a 5% decrease in metal recovery explain the lower production.
Cash costs(1) for the period were $115.37 per tonne of processed ore, and $1.30 per pound of payable copper produced, a 28% and 35% increase over the same period last year, respectively. The increase in the cash cost per pound of payable copper net of by products is mainly explained by the increase in the cost per processed tonne and a 19% decrease in the gold credit driven by a lower gold-to-copper production ratio to Q2-2016. All-in sustaining cash cost per payable pound of copper produced(1)(2) was $1.96.
Despite the cash cost per pound of payable copper produced decrease of 8% in Q2-2017 relative to the previous quarter (Q1-2017 – $1.41), the operating cost was higher than anticipated by the Company. A 14% decrease in milling and distribution cost this quarter was completely offset by a 3% increase in the mining and indirect cost relative to the previous quarter.
At the mine, efforts made by the Company to reduce the cemented backfill unit cost were successful in Q2-2017 and were reduced by 11% relative to Q1-2017, but were offset by a 9% increase in the quantity of cubic meters backfilled during the same period. In addition, there was a 25% increase in preparation laboring (from 312 m in Q1-2017 to 389 m in Q2-2017) and a 32% increase in ground support cost due to poor ground conditions in level 1722.
The Company is taking additional cost reduction measures for the remaining quarters of 2017.
Second Quarter Operational Details

Q2
2017
Q2
2016
%
Change
Production (Contained in Concentrate)(3)
Copper (000s lbs)5,1544,7868%
Gold (oz)2,5702,948-13%
Silver (oz)10,0059,9531%
Mine
Tonnes of material mined65,94263,1124%
Mill
Tonnes processed62,80264,246-2%
Tonnes processed per day794814-2%
Copper grade (%)3.943.629%
Gold grade (g/t)2.072.20-6%
Silver grade (g/t)9.968.0324%
Recoveries
Copper (%)94.493.02%
Gold (%)61.865.0-5%
Silver (%)49.959.8-17%
Concentrates
Copper Concentrates (DMT)10,46010,718-2%
    Copper (%)22.320.310%
    Gold (g/t)7.68.6-12%
    Silver (g/t)29.728.93%
Payable copper produced (000s lbs)4,8974,5478%
Cash cost per pound of payable copper ($/lbs)(1)(2)1.300.9635%

The financial statements and MD&A are available on SEDAR and have also been posted on the company’s website at http://www.aticomining.com/investors/financial-reports/
El Roble Mine
The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 800 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.
Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.
El Roble has a measured and indicated resource of 1.87 million tonnes grading 3.46% copper and 2.27 g/t gold, at a cut-off grade of 0.93% copper equivalent. Mineralization is open at depth and along strike and the Company plans to further test the limits of the resource.
On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.
Qualified Person
Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.
About Atico Mining Corporation 
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
(1) Alternative performance measures; please refer to “Non-GAAP Financial Measures” at the end of this release.
(2) Net of by-product credits
(3) Subject to adjustments on final settlement

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com
The Company has not based its production decisions and ongoing mine production on mineral reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Non-GAAP Financial Measures
The items marked with a “(1)” are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company’s Management’s Discussion and Analysis for the three months ended March 31, 2017 as filed on SEDAR and as available on the Company’s website for further details.

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TSXV:ATY

Atico Resumes Operations at El Roble Mine

Atico Mining Corporation (the “Company” or “Atico”)(TSXV:ATY) is pleased to report that further to the news release announced August 15, 2017, the final inspection by provincial authorities concluded successfully and the operations at El Roble mine have resumed as of August 18, 2017.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com
The Company has not based its production decisions and ongoing mine production on mineral reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Non-GAAP Financial Measures
The items marked with a “(1)” are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company’s Management’s Discussion and Analysis for the nine months ended September 30, 2016 as filed on SEDAR and as available on the Company’s website for further details.
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TSXV:ATY

Atico Announces Temporary Work Stoppage at El Roble Mine

Atico Mining Corporation (the “Company” or “Atico”)(TSXV:ATY) reports a temporary work stoppage at the El Roble mine pending final inspection of the clean water discharge system. The Company will work with provincial authorities to confirm the integrity and safety of the system as quickly as possible, beginning tomorrow August 16, 2017.
The safety of people and the environment remains a priority for Atico at El Roble mine. On August 9, 2017, the clean water discharge system malfunctioned and as a result a small quantity of sediment was discharged. The Company has taken immediate corrective action and is working with the provincial authority to verify that there are no further actions needed. As of August 14, operations have temporarily stopped to run a complete inspection of the system along with the provincial authority´s personnel. At this point in time, the Company does not believe the incident posed any threat to the health of employees, communities, or the environment. The Company aims to resume operations as soon as possible.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO
Atico Mining Corporation
Trading symbols: (TSX VENTURE:ATY) (OTC PINK:ATCMF)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com
The Company has not based its production decisions and ongoing mine production on mineral reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Non-GAAP Financial Measures
The items marked with a “(1)” are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company’s Management’s Discussion and Analysis for the nine months ended September 30, 2016 as filed on SEDAR and as available on the Company’s website for further details.
 CONTACT INFORMATION

Source: www.marketwired.com

Copper Investing

Atico Produces 5.15 Million Pounds Of Cu And 2,570 Ounces Of Au In Second Quarter 2017

Atico Mining Corporation (the “Company” or “Atico”)(TSXV:ATY) announces its operating results for the three months ended June 30, 2017 from its El Roble mine. Production for the quarter totaled 5.15 million pounds of copper and 2,570 ounces of gold in concentrates, an increase of 8% for copper and a decrease of 13% for gold over the same period in 2016.
“We are very pleased to report a strong operating quarter maintaining steady state production levels and remaining in line to reach operational objectives for 2017.” said Fernando E. Ganoza, CEO. “For the remainder of the year, the Company will continue focusing on the regional and mine vicinity exploration programs with four rigs currently drilling on surface and underground.”
Second Quarter Operational Highlights

  • Production of 5.15 million pounds of copper contained in concentrates; an increase of 8% over Q2 2016.
  • Production of 2,570 ounces of gold contained in concentrates; a decrease of 13%  over Q2 2016.
  • Average processed tonnes per day of 794, a decrease of 3% over Q2 2016.
  • Copper head grade of 3.94%, an increase of 9% over Q2 2016.
  • Gold head grade of 2.07 grams per tonne; a decrease of 6% over Q2 2016.
  • Copper and gold recovery of 94.4% and 61.8%; an increase of 2% for copper and a decrease of 5% for gold over Q2 2016.

Second Quarter Operational Review
Processed ore was in line with Company budget for the second quarter. The increase in higher copper output for the quarter relative to Q2-2016 is explained by a higher copper head grade and an increase in copper recovery. In the case for gold production, a planned lower head grade and a decrease in the gold recovery resulted in lower gold output over Q2-2016.
Copper recoveries were higher than the same period last year, while gold recoveries during the quarter were in line with Company projections. Gold recovery decreased slightly as expected driven by a 10% increase in the copper content in the concentrate to 22.34% (20.30% in Q2-2016). This increase in the copper content in the concentrate provides a net economic benefit offsetting the resulting decrease in gold recovery. The Company will continue to explore increasing the copper content in the concentrate in the following quarters while increasing the gold recovery.
The operation remains on track to deliver on set guidance throughout the remainder of the year.
Second Quarter Operational Details

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Xander Resources Announces Proposed Warrant Extensions

Xander Resources Announces Proposed Warrant Extensions

(TheNewswire)

Xander Resources Inc.

Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) announces that, subject to the approval of the TSX Venture Exchange (the " Exchange "), it intends to extend the expiration date of an aggregate of 1,547,890 warrants (the " Warrants ") originally issued by the Company on August 24, 2020 and December 22, 2020 pursuant to non-brokered private placements by one year

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Green River Gold Corp. Intercepts Highest XRF Nickel Results to Date in Step-Out Drilling at Its Quesnel Nickel/Magnesium/Talc and Expands Its Oversubscribed Flow-Through Share Offering

Green River Gold Corp. Intercepts Highest XRF Nickel Results to Date in Step-Out Drilling at Its Quesnel Nickel/Magnesium/Talc and Expands Its Oversubscribed Flow-Through Share Offering

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress on the 2022 exploration program at its Quesnel NickelMagnesiumTalc Project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

Fargo Exploration conducted a geochemical survey, consisting of soil and rock chip sampling on Grid 1 from July 6 to July 18 (Figure 1). The bedrock outcropping locations were mapped and recorded during the 2.5 square KM soil sampling program. A total of 145 samples, including soil samples and rock chip samples, were taken during the survey.

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Emerita Reports Latest Drill Results From IBW and Extends Mineralization 100 Metres to East at Romanera

Emerita Reports Latest Drill Results From IBW and Extends Mineralization 100 Metres to East at Romanera

Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF) (the "Company" or "Emerita") is pleased to announce additional assay results from the 2022 exploration drilling at its Iberian Belt West (IBW) project ("IBW" or the "Project"). IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. All deposits are open for expansion along strike and at depth.

The drill program to date has been focused on the Romanera and La Infanta deposits. The following table presents the latest results obtained from the La Infanta and Romanera deposits and their extensions. Drilling continues at both sites with one drill continuing at La Infanta and the remaining rigs at Romanera. Since obtaining drill permits for Romanera, the IBW program focus has shifted to delineating the Romanera deposit, which is the largest deposit on the Project

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Update Report on the 2022 Field Exploration Programs, Increases Land Position

Update Report on the 2022 Field Exploration Programs, Increases Land Position

Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL)(FSE:XZ7) announces an update on the 2022 field exploration programs on its Muskwa Copper Project. See Figure 1 below

Figure 1 - General Property Location

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Metal Energy Assays Confirm High-Grade Nickel in All Drill Holes From Phase One Drill Program

Metal Energy Assays Confirm High-Grade Nickel in All Drill Holes From Phase One Drill Program

Highlights Include:
  • 0.92% Ni eq. over 32.95 m starting at 150.45 m including 1.24% Ni eq. over 11.45 m at 169.1 m in drill hole MNB004
  • 0.81% Ni eq. over 13.5 m starting at 337.5 m in drill hole MNB003
  • 1.13% Ni eq. over 9.0 m starting at 700.0 m including 1.62% Ni eq. over 5.0 m at 701.0 m in drill hole MNB006
  • Two drill holes intersected thick composite mineralization over 100 and 80 metres in length with 40% and 55% of those intervals being mineralized, respectively

 Metal Energy Corp. (the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce assay results ( Table 1 ) from the Phase One drill program (the " Program ") completed in March and April on the high-grade nickel and copper-cobalt Manibridge project (the " Project " or " Manibridge ") in the Thompson Nickel Belt, Manitoba.  The Program successfully intersected high-grade nickel-sulphide mineralization over a one kilometre strike length within the shadow of the past-producing Manibridge mine that produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.

"The results from the Program are very encouraging and better than expected. They've answered many of our preliminary questions on Manbridge's Phase 1.  These six holes have;

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Aranjin to Extend Term of Outstanding Convertible Debenture

Aranjin to Extend Term of Outstanding Convertible Debenture

Aranjin Resources Ltd. (TSXV: ARJN) ("Aranjin" or the "Company") announces that the Company will be extending the maturity date of the $1,814,400 principal amount unsecured convertible debenture (the "Debenture") issued on August 10, 2021, and convertible into common shares of the Company at a price of $0.055 per share. The Debenture was issued pursuant to a private placement which closed on August 10, 2021. The Company proposes to extend the maturity date by one (1) year, and accordingly, the new maturity date for the Debenture will be August 10, 2023.

All other terms and conditions of the Debenture remain unchanged. The Debenture extension is subject to acceptance by the TSX Venture Exchange.

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