Base MetalsInvesting News

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) is pleased to announce the appointment of Mr. Matias Herrero, CPA, CA, as Chief Financial Officer effective July 2, 2021.

Mr. 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. Mr. Herrero 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.

Mr. Herrero will be replacing Mr. Bill Tsang who has served Atico as a Controller since inception and as Chief Financial Officer since February 2016. The Company extends its appreciation to Mr. Tsang for his dedication and contribution which has been instrumental to the Company's success as it developed into a copper and gold producer.

Pursuant to the Company's stock option plan, 300,000 incentive stock options exercisable at $0.57 per share for a period of five years have been granted to Mr. Herrero.

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; 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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Atico MiningTSXV:ATYCopper Investing
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.

Turquoise Hill Announces Receipt of Interim Order for Proposed Arrangement with Rio Tinto and Provides Details of Shareholders' Meeting

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") is pleased to announce that the Supreme Court of Yukon (the "Court") has granted an interim order (the "Interim Order") in connection with the previously announced statutory plan of arrangement under section 195 of the Business Corporations Act (Yukon), pursuant to which, among other things and subject to the satisfaction or waiver of all applicable conditions precedent, Rio Tinto International Holdings Limited ("Rio Tinto") will acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates do not currently own (the "Minority Shares") for C$43.00 per share in cash (the "Arrangement"). The Interim Order authorizes the calling and holding of a special meeting (the "Special Meeting") of the Company's shareholders, the granting of dissent rights to registered shareholders and other matters relating to the conduct of the Special Meeting.

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Ero Copper announces discovery of nickel sulphide system in the Curaçá Valley; intercepts 16.5 meters grading 1.22% nickel, including 3.8 meters grading 3.60% nickel

Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") is pleased to announce the discovery of a regional nickel sulphide system within the Curaçá Valley over an initial strike length of five kilometers. The system remains open in all directions and is highlighted by multiple surface expressions of nickel mineralization. Results from first-pass drilling conducted on two of the identified zones along the currently interpreted northeast and southwest boundaries of the system are highlighted by:

  • VB Zone
    • VB-17: 16.5 meters at 1.22% Ni, 0.17% Cu and 0.03% Co (1.37% NiEq), including 3.8 meters at 3.60% Ni, 0.22% Cu and 0.09% Co (3.92% NiEq)
      • Interval includes 1.5 meters of massive-sulphide textures (~80% sulphides) grading 6.59% Ni, 0.26% Cu and 0.17% Co (7.11% NiEq)
    • VB-25: 30.4 meters at 0.63% Ni, 0.12% Cu, 0.02% Co (0.72% NiEq), including 5.1 meters at 2.06% Ni, 0.25% Cu, 0.05% Co (2.28% NiEq)
      • Interval includes 1.4 meters of massive-sulphide textures (~60% sulphides) grading 4.94% Ni, 0.14% Cu, 0.12% Co (5.30% NiEq)
  • Lazaro ("LZ") Zone
    • LZ-03: 24.1 meters at 0.81% Ni, 0.18% Cu and 0.04% Co (0.97% NiEq), including 13.0 meters at 1.11% Ni, 0.25% Cu and 0.05% Co (1.33% NiEq)
    • LZ-06: 22.5 meters at 0.84% Ni, 0.15% Cu and 0.05% Co (1.02% NiEq), including 8.0 meters at 1.34% Ni, 0.25% Cu and 0.07% Co (1.61% NiEq)
    • LZ-07: 17.7 meters at 0.93% Ni, 0.21% Cu and 0.05% Co (1.14% NiEq), including 5.0 meters at 1.15% Ni, 0.20% Cu and 0.06% Co (1.38% NiEq)

The newly discovered nickel system, known as the "Umburana System", is located approximately 20 kilometers from the Company's existing Caraíba processing facilities. The system was discovered using new detailed field mapping and soil geochemistry collected during the Company's 2021 and 2022 exploration programs in conjunction with the Company's airborne electromagnetic ("AEM") survey. First-pass drilling comprised of 48 drill holes initially testing where ultramafic rocks have been mapped at surface. The ongoing program has identified large intervals of disseminated and interstitial nickel sulphides as well as zones of high-grade semi-massive (containing approximately 30% to 60% sulphides) and massive sulphides (containing approximately 60% to 80% sulphides), with massive sulphide intercepts up to 1.5 meters in thickness grading up to 6.59% nickel (7.11% NiEq). Nickel mineralization outcrops at surface, is evident in trenches and remains open down-plunge. Maximum depth of drilling to date is approximately 300 meters below surface. There are four exploration drill rigs currently operating on the system.

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American West Metals

New Copper System Confirmed At The Storm Project, Canada

American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to report that initial assay results from drill hole ST22-10 have confirmed a significant discovery at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

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VIDEO: Cyprium Metals Ltd MD Barry Cahill on the Nifty Copper Project Restart Update

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) has continued to progress the refurbishment of the project whilst the Company is conducting a finance process for the restart the operation.

HIGHLIGHTS

- Majority of the operational readiness and environmental clean-up activities have now been completed

- To reduce operational expenditure whilst maintaining the Nifty site in good order, workforce has been temporarily downsized until the finance process is complete

- Advanced discussions are continuing with debt financiers, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"The finance process to fund the Restart of the Nifty Copper Project continues with multiple parties.To conserve funds, we have reduced personnel throughout the organisation until we complete the financing and commence the refurbishment schedule in earnest.

Our personnel have done an excellent job in getting Cyprium to the go line for when the finance process is completed and progress to date has been remarkable, as can be seen in the photos. Many people have told me that they would like to return to Nifty, if they are available, to build the roject and plate copper. We look forward to welcoming them back to the Cyprium family."

To watch the Video, please visit:
https://www.abnnewswire.net/press/en/114080/cym



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Sees Opportunities for Good Results as Drilling Restarts at Portugal Project

Avrupa Minerals CEO Sees Opportunities for Good Results as Drilling Restarts at Portugal Projectwww.youtube.com

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Cyprium Metals Ltd Nifty Copper Project Restart Update

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) has continued to progress the refurbishment of the project whilst the Company is conducting a finance process for the restart the operation.

Nifty Restart Progress

Project finance remains the key focus for Cyprium. The pre-development work continued in parallel with the finance process, as it was intended to ensure that the Nifty site was ready at the go-line for when financing was completed, prior to the commencement of refurbishment and construction activities.

Much of the operational readiness activities have now been completed, so being prudent and minimising ongoing holding costs, the Company has temporarily downsized its Nifty site workforce to approximately 20 personnel and contractors, in order to maintain the site in good order and reducing operating expenditure until the finance is completed. Consequently, a number of positions throughout the business have been made redundant.

The progress made by Nifty employees to date has been exceptional, with significant progress towards being operationally ready for the project kick off. The workforce is to be commended for their efforts and progress whilst the site has remaining on care and maintenance since its acquisition. This has also been achieved at Nifty over the past 14 months without a Lost Time Injury.

HIGHLIGHTS

- Majority of the operational readiness and environmental clean-up activities have now been completed

- To reduce operational expenditure whilst maintaining the Nifty site in good order, workforce has been temporarily downsized until the finance process is complete

- Advanced discussions are continuing with debt financiers, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"The finance process to fund the Restart of the Nifty Copper Project continues with multiple parties.

To conserve funds, we have reduced personnel throughout the organisation until we complete the financing and commence the refurbishment schedule in earnest.

Our personnel have done an excellent job in getting Cyprium to the go line for when the finance process is completed and progress to date has been remarkable, as can be seen in the photos.

Many people have told me that they would like to return to Nifty, if they are available, to build the project and plate copper. We look forward to welcoming them back to the Cyprium family."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2SVAFO2K



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

News Provided by ABN Newswire via QuoteMedia

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