The CEO of Atico said the infill and mine vicinity exploration drilling at El Roble mine has been successful in replenishing mined resources since 2013.
Atico Mining (TSXV:ATY) has reported the release of an updated NI 43-101 mineral resource and reserve estimate for the El Roble mine in Colombia.
The company said the El Roble is currently in production at a rate of 850 tonnes per day and production guidance for the year is 20 million pounds of copper along with 9,850 ounces of gold in 2018. For the first three quarters of 2018, El Roble has produced 16 million pounds of copper and 8,400 ounces of gold or over 80 percent and 85 percent of annual forecast production for copper and gold respectively.
CEO of Atico, Fernando E. Ganoza said:
“Our infill and mine vicinity exploration drilling at El Roble mine has been successful in replenishing mined resources since 2013. The maiden resource study at El Roble mine of 1.5 million tonnes of inferred resource has grown to 1.8 million tonnes of measured and indicated resources, while also having mined over 1 million tonnes of high-grade ore during the same period. We will continue looking for opportunities to further extend the life of mine at El Roble while also drilling for additional massive sulphide deposits on the contiguous 6,600 hectare land package we control.”
As highlighted in the press release:
- Measured and indicated mineral resources are estimated at 1.80 million tonnes averaging 3.63 percent copper, and 2.25 grams per tonne (g/t) gold.
- Proven and probable mineral reserves are estimated at 1.38 million tonnes averaging 3.62 percent copper, and 2.01 g/t gold.
- A conversion rate of 76.7 percent of measured and indicated resources to proven and probable reserve categories over the current resource estimate.
- Inferred mineral resources are estimated at 0.24 million tonnes averaging 0.62 percent copper, and 4.06 g/t gold.