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Atico Reports 2022 Fourth Quarter and Full Year Production Results

Atico Reports 2022 Fourth Quarter and Full Year Production Results

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCQX: ATCMF) is pleased to announce operating results for the three and twelve month periods ended December 31, 2022 from its El Roble mine. Production totaled 2.95 million pounds of copper with 3,083 ounces of gold for the fourth quarter ("Q4 2022") and 15.03 million pounds of copper with 11,254 ounces of gold in concentrates for the full year 2022.

"2022 presented us with numerous challenges at the operation, very tough weather conditions along with major equipment malfunction certainly tested the operating team throughout the year. Despite these challenges, we delivered on most of our production guidance. Copper production was in line with our guidance, while gold production came in just under budget, mostly explained by less processed tonnes of ore," said Fernando E. Ganoza, CEO. "In 2023 we will continue to aggressively explore the El Roble project looking to extend the life of mine while at the same time completing the La Plata Feasibility Study and the permitting process."

Fourth Quarter and Full Year Operational Highlights

Fourth Quarter

  • Production of 2.95 million pounds of copper contained in concentrates; a decrease of 40% over Q4 2021.
  • Production of 3,083 ounces of gold contained in concentrates; a decrease of 2% over Q4 2021.
  • Average processed tonnes per day of 820; a decrease of 10% over Q4 2021.
  • Copper and gold head grades of 2.25% and 2.30 grams per tonne; a decrease of 30% for copper and an increase of 6% for gold over Q4 2021.
  • Copper and gold recovery of 90.1% and 58.4%; a decrease of 6% for copper and 5% for gold over 2021.

2022 Year-end

  • Production of 15.03 million pounds of copper contained in concentrates; a decrease of 17% over 2021.
  • Production of 11,254 ounces of gold contained in concentrates; an increase of 2% over 2021.
  • Average processed tonnes per day of 826; a decrease of 10% over Q4 2021.
  • Copper and gold head grades of 2.99% and 2.31 grams per tonne; a decrease of 2% for copper and an increase of 17% for gold over 2021.
  • Copper and gold recovery of 91.3% and 60.7%; no significant change for copper and gold over 2021.

Fourth Quarter and Full Year Operational Details

Q1 Total Q2 Total Q3 Total Q4 Total 2022 Total
Production (Contained in Concentrates)
Copper (000s pounds) 4,731 3,591 3,753 2,954 15,029
Gold (ounces) 2,636 2,811 2,724 3,083 11,254
Mine
Tonnes of ore mined 66,594 61,667 66,245 56,168 250,674
Mill
Tonnes processed 65,844 56,172 59,689 67,605 249,311
Tonnes processed per day 826 889 786 820 826
Copper grade (%) 3.55 3.17 3.12 2.25 2.99
Gold grade (g/t) 2.08 2.47 2.28 2.30 2.31
Recoveries
Copper (%) 91.8 91.4 91.5 90.1 91.3
Gold (%) 59.7 62.9 62.0 58.4 60.7
Concentrates
Copper and gold concentrates (dmt) 10,719 8,278 9,048 7,454 35,499
Payable copper produced (000s lbs) 4,576 3,411 3,565 2,806 14,358

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

2023 Operating and Cost Guidance

Copper (000s pounds) 14,000 to 15,000
Gold (ounces) 10,500 to 12,000
C1 Cash Cost ($US) ( 1) $1.55 to $1.72

Note: Please see "Non-GAAP Financial Measures" at the end of this release. C1 cash cost per pound of payable copper produced net of by-product credits and selling costs.

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 with an effective date of September 30, 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 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 | OTCQX: 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; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; 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.

  • 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

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Getchell Gold Corp. Files Technical Report for the Mineral Resource Estimate at Fondaway Canyon, NV

Getchell Gold Corp. Files Technical Report for the Mineral Resource Estimate at Fondaway Canyon, NV

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to announce the filing of the Mineral Resource Estimate ("MRE") technical report for the Fondaway Canyon project in Churchill County, Nevada. The MRE conceptualizes potential open pit and underground mining.

Mineral Resource Estimate Key Highlights

News Provided by Newsfile via QuoteMedia

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Slave Lake Zinc Acquires Significant Historic Database for O'Connor Lake Critical Metals Project

Slave Lake Zinc Acquires Significant Historic Database for O'Connor Lake Critical Metals Project

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company"): has recently acquired a significant database of historic (pre-1952) information pertaining to the O'Connor Lake zinc-lead-copper-silver -gold critical metals project. The Company is currently analyzing the new files and applying a modern exploration interpretation to them. The objective is to merge these new results with exploration results already generated by Slave Lake. The Company will use these combined results to coordinate the next phase of exploration consisting of geologic mapping and sampling, prospecting, and detailed geophysical surveys and to prioritize drill targets.

Slave Lake has recently reviewed our modern data with the Company's Geological consultants and a detailed interpretation of the lease portion of the 900-plus line kilometer airborne survey conducted earlier has been developed for follow up. The follow up interpretation contained within this small area to the south-west and parallel to the old head frame area has identified multiple new geophysical anomalies parallel to the main structural zone that was historically being developed prior to 1952. One strong new target is present southwest of the main zone and lies under water immediately offshore. Prior to application of modern exploration surveys this target would not be detected. Slave Lake will now conduct a detailed ground geophysical survey to define the target for drill testing. This survey work will utilize the ice cover on the lake to properly map the anomaly.

News Provided by Newsfile via QuoteMedia

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Fireweed Drills 12.5 m of 11.17% Zinc including 6.2 m of 15.84% Zinc at Boundary Main

Fireweed Drills 12.5 m of 11.17% Zinc including 6.2 m of 15.84% Zinc at Boundary Main

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce further results from the 2022 drill program at Macmillan Pass, Yukon, Canada (Map 1).

Highlights

News Provided by GlobeNewswire via QuoteMedia

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Bold Ventures Issues Shares for Payment of Services by Investing News Network

Bold Ventures Issues Shares for Payment of Services by Investing News Network

Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") wishes to announce that, further to its press release of November 1, 2022, it has agreed to issue 109,091 common shares of the Company to Dig Media Inc., dba Investing News Network ("INN") in settlement of advertising services provided by INN to the Company pursuant to the Advertising Campaign Agreement dated October 31, 2022 for the period ending January 31, 2023 at a price of $0.11 per share, subject to regulatory approval

Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website here.

News Provided by ACCESSWIRE via QuoteMedia

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Hispania Resources

Hispania Resources to Begin On-Site Preparations for Exploration Program at Las Herrerias, on the Puebla de la Reina Property, Spain

Hispania Resources Inc. (TSXV: ESPN) ("Hispania" or the "Company") wishes to inform shareholders that it is preparing for the exploration program to be carried out at Las Herrerias ("Las Herrerias"), on the Puebla de la Reina property, located in Extremadura, Spain. Management will be onsite in early February to meet with its geological team to review and visit local geological areas of interest on the property identified by the work carried out in 202122 by the company.

While in the region, company management will be meeting with additional firms that carry out geophysical and diamond drilling activities, with the objective of determining timing and scope for the upcoming work at Las Herrerias. Further, management intends to again meet with the regional Ministry and politicians, including the Mayor of Puebla de la Reina, as they did in July, 2022, to ensure all local stakeholders needs are met.

News Provided by Newsfile via QuoteMedia

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Power Nickel Announces Partnership With Fleet Space Technologies

Power Nickel Announces Partnership With Fleet Space Technologies

Proprietary "Exosphere" Approach To Enhance Exploration at Nisk Mining Project

Power Nickel Inc. (the "Company" or "Power Nickel") (TSX-V:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI

News Provided by ACCESSWIRE via QuoteMedia

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