atico mining corp

Atico Restarts Mining Operations at El Roble, Intercepts Massive Sulfide Extension at La Plata and Provides Exploration plans for 2021

 

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) reports that the final systems inspection at the El Roble mine was successful and ramp up to steady state throughput has been attained. The Company is also reinitiating its plans for an aggressive exploration campaign at both projects with a budget of up to 30,000 meters of drilling for 2021.

 

"We are pleased to report a successful restart of operations at the El Roble mine along with announcing the most aggressive exploration program the Company has managed since inception," said Fernando E. Ganoza, CEO. "Given the current metal price environment we are continuing to see exceptionally robust cashflow generation as 2021 is on track to be another record-breaking year for the Company. At this pace, we will be in an even stronger position to further reevaluate the 2021 exploration budget with the intent to increase it for the second half of the year."

 

  Successful ramp up at El Roble  

 

As part of the Company's transparency policy and bringing additional information on the news release dated February 16 th , the Company inspected all components of the tailing pipe system, including the relief valve systems where some components were replaced ahead of schedule and subjected to the rigorous testing protocols. The inspection also confirmed that the incident didn't pose any material threat to the health of employees, communities, or the environment. A restart protocol of the plant was then coordinated with the provincial authorities, including testing the new piping systems followed by methodically ramping-up the plant production to its normal capacity. This incident has also demonstrated the agility and effectiveness of the safety protocols in place at the El Roble Mine as the safety of people and the environment remains a top priority for Atico.

 

  Exploration and Engineering  

 

The program will be divided between the two projects. At El Roble the plan is to drill up to 18,000 meters on both regional and near mine exploration targets. While at La Plata project in Ecuador, the team's plan is to drill up to 12,000 meters for the year. The program at La Plata is already beginning to yield good results. The explorations team has completed 2 successful diamond drill holes located outside of the existing polygon, in the zone called the "Guatuza Extension". These holes have intercepted additional semi-massive sulfide structures reporting visual copper and zinc mineralization. These cores are being logged, split and sent to the preparation laboratory required for their geochemistry analysis. Our partner, ALS Chemex Laboratories, is working at reduced capacity at this moment due to the existing COVID restrictions and we are expecting certified results in due course.

 

At the El Roble project, the exploration team is focused on regional exploration and has awarded InnovExplo a mandate for their collaboration in the target generation process. The exercise will consist of processing 30 years of existing data (production, drilling and geochem results, geophysics, structural analysis, regional geology, etc) and processing all that information with specialized computers and softwares. This exercise will optimize the 3D analysis resulting in the generation of high priority regional targets. InnovExplo is a highly recognized geology firm which has worked with more than 175 mining companies; on roughly 500 different mandates; covering North America, South America, Africa, and Europe. InnovExplo brings their scientific approach and successful past experience in large data compilations, interpretation and target generation.

 

   Qualified Control   

 

Dr. Michael Druecker, CPG, is 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. Druecker 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 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   

 

  Primary Logo 

 

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Loyal Metals Limited

Loyal to Acquire the High-Grade Highway Reward Copper Gold Mine

Loyal Metals Limited (ASX:LLM) (Loyal, LLM, or the Company) is pleased to announce that it has acquired a binding option to purchase the Highway Reward Copper Gold Mine in Queensland, Australia, one of the highest-grade copper mines worldwide, with past production totalling 3.65 million tonnes at 5.7% Cu and 260,000 tonnes at 4.5 g/t Au 1-9. This acquisition is the first step in Loyal’s 2025 Strategic Plan to broaden its critical minerals portfolio into copper. No exploration has been conducted on the mining leases since mining ceased in July 2005, despite a ~680% increase in copper prices and a ~1,256% increase in gold prices since the 1997 feasibility study 3,4. With over $4.4 million in funding, Loyal is well-positioned to revisit the high-grade Highway Reward Copper Gold Mine by deploying modern exploration techniques11.

Keep reading...Show less
Textured copper ribbons weave over a black background.

​Copper​ Market Hit by Major Supply Squeeze as LME Inventories Drop

One of the sharpest copper supply crunches in recent memory is rattling global commodities markets, as inventories at the London Metal Exchange (LME) plummet and the spot price soars.

Bloomberg reported that as of Monday (June 23), copper for immediate delivery was trading at a premium of US$345 per metric ton over three month futures, the widest spread since a record squeeze in 2021.

That dramatic price divergence reflects the market’s acute concerns over access to physical copper, with readily available inventories on the LME falling by around 80 percent this year alone.

Keep reading...Show less
Many copper bobbins and warehouse copper pipes.

Top 10 Copper-producing Companies

Copper miners with productive assets have much to gain as supply and demand tighten.

In May 2024, the copper price hit a new all-time high of US$10,954 per metric ton (MT) on the London Metal Exchange and US$5.20 per pound on the COMEX on the back of increasing demand and growing supply concerns.

Copper is one of the most important resources for the energy transition. However, in recent years, demand for the red metal has outpaced mining supply. While construction and electrical grids have long been major markets for copper, today the rise in demand for electric vehicles, EV charging infrastructure and energy storage applications are emerging drivers of copper consumption.

Another trend driving future copper demand is the rapid urbanization in the Global South, as rural populations migrate to cities, putting pressure on electricity grids.

Keep reading...Show less
White Cliff Minerals

John Hancock to join White Cliff Minerals Board

Astrotricha Capital SEZC appointed Advisors

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce that John Hancock will join the Board of White Cliff Minerals effective 1 August 2025.

Keep reading...Show less
Gavel on books with "5 Top Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Royalties Jumps 183 Percent on Legal Win

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Friday (June 20) was the last day for the spring session of Canada’s parliament before its summer break.

On the agenda for the day was a vote on bill C-5, “The One Canadian Economy Act,” which was introduced on June 5.

Keep reading...Show less
Cyprium Metals

Nifty Copper Project Virtual Site Visit

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) (Cyprium or the Company) invites shareholders to join an investor webinar and live Q&A hosted by Executive Chairman Matt Fifield on Tuesday 24th June 2025. Investors will be guided on a virtual site visit of the Nifty Copper Complex showcasing the sulphide and heap leach resources and extensive brownfield infrastructure.

Keep reading...Show less

Latest Press Releases

Related News

×