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VANCOUVER, British Columbia, July 27, 2023 (GLOBE NEWSWIRE) — Atico Mining Company (the “Firm” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) pronounces its working outcomes for the three months ended June 30, 2023 from its El Roble mine. Manufacturing for the quarter totaled 2.80 million kilos of copper and a pair of,294 ounces of gold in concentrates, a lower of twenty-two% for copper and 18% for gold, over the identical interval in 2022.
“The El Roble mine continued to point out enchancment for the interval by way of each processed tones and enhance in head grades over the earlier quarter. The processing plant is once more reaching regular state ranges of 900 tonnes per day whereas the mine continues to transition again into increased grade areas. We anticipate additional enchancment in total manufacturing outcomes and metallic output for the second half of the yr,” stated Fernando E. Ganoza, CEO. “For the rest of the yr we are going to proceed our sturdy focus in direction of mine neighborhood exploration on the El Roble mine, trying to construct on the success of the latest drill ends in the historic areas of the deposit.”
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Second Quarter Operational Highlights
- Manufacturing of two.80 million kilos of copper contained in concentrates; a lower of twenty-two% over Q2 2022.
- Manufacturing of two,294 ounces of gold contained in concentrates; a lower of 18% over Q2 2022.
- Common processed tonnes per day of 800, a lower of 10% over Q2 2022.
- Copper head grade of two.04%, a lower of 36% over Q2 2022.
- Gold head grade of 1.78 grams per tonne; a lower of 28% over Q2 2022.
- Copper and gold restoration of 91.1% and 58.7%; no important change for copper and a lower of seven% gold over Q2 2022.
Second Quarter Operational Particulars
| Q2 2023 Complete | Q2 2022 Complete | % Change | |||||
| Manufacturing (Contained in Concentrates) | |||||||
| Copper (000s kilos) | 2,804 | 3,591 | -22% | ||||
| Gold (ounces) | 2,294 | 2,811 | -18% | ||||
| Mine | |||||||
| Tonnes of ore mined | 72,340 | 61,667 | 17% | ||||
| Mill | |||||||
| Tonnes processed | 68,471 | 56,172 | 22% | ||||
| Tonnes processed per day | 800 | 889 | -10% | ||||
| Copper grade (%) | 2.04 | 3.17 | -36% | ||||
| Gold grade (g/t) | 1.78 | 2.47 | -28% | ||||
| Recoveries | |||||||
| Copper (%) | 91.1 | 91.4 | Nil | ||||
| Gold (%) | 58.7 | 62.9 | -7% | ||||
| Concentrates | |||||||
| Copper and Gold Concentrates (dmt) | 6,784 | 8,278 | -18% | ||||
| Payable copper produced (000s lbs) | 2,639 | 3,411 | -23% |
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Notice: Steel manufacturing figures are topic to changes based mostly on remaining settlement. The reported outcomes are preliminary in nature and are awaiting unbiased lab verification.
Focus Stock
The variety of shipments the Firm can export in any given quarter is dependent upon a number of variables a few of which the Firm doesn’t management, therefore there could also be an inherent variability in tonnes shipped quarter to quarter.
| Q2 2023 Complete | |||
| Quantities in dry metric tonnes | |||
| Opening stock | 6,647 | ||
| Manufacturing | 6,784 | ||
| Gross sales | (6,597 | ) | |
| Variety of shipments | 1 | ||
| Adjustment | 20 | ||
| Closing stock | 6,854 | ||
Notice: Focus figures are topic to changes based mostly on remaining settlement.
El Roble Mine
The El Roble mine is a excessive grade, underground copper and gold mine with nominal processing plant capability of 1,000 tonnes per day, situated within the Division of Choco in Colombia. Its industrial product is a copper-gold focus.
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Since acquiring management of the mine on November 22, 2013, Atico has upgraded the operation from a historic nominal capability of 400 tonnes per day.
El Roble has Confirmed and Possible 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 equal as of September 30th, 2020. Mineralization is open at depth and alongside strike and the Firm plans to additional take a look at the boundaries of the deposit.
On the bigger land bundle, the Firm has recognized a potential stratigraphic contact between volcanic rocks and black and gray pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been decided to be an necessary management on VMS mineralization on which Atico has recognized quite a few goal areas potential for VMS kind mineralization prevalence, which is the main target of the present floor drill program at El Roble.
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Certified Particular person
Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Firm and a professional individual below Nationwide Instrument 43-101 requirements, is liable for guaranteeing that the technical data contained on this information launch is an correct abstract of the unique reviews and knowledge offered to or developed by Atico.
About Atico Mining Company
Atico is a growth-oriented Firm, centered on exploring, growing and mining copper and gold initiatives in Latin America. The Firm generates important money move via the operation of the El Roble mine and is growing its high-grade La Plata VMS venture in Ecuador. The Firm can be pursuing further acquisition of superior stage alternatives. For extra data, please go to www.aticomining.com.
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ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Company
Buying and selling symbols: TSX.V: ATY | OTC: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
No securities regulatory authority has both accepted or disapproved of the contents of this information launch. The securities being provided haven’t been, and won’t be, registered below the USA Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities legal guidelines, and is probably not provided or bought in the USA, or to, or for the account or good thing about, a “U.S. individual” (as outlined in Regulation S of the U.S. Securities Act) except pursuant to an exemption therefrom. This press launch is for data functions solely and doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any securities of the Firm in any jurisdiction.
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Cautionary Notice Concerning Ahead Wanting Statements
This announcement contains sure “forward-looking statements” throughout the that means of Canadian securities laws. All statements, apart from statements of historic truth, included herein, with out limitation the usage of internet proceeds, are forward-looking statements. Ahead- trying statements contain varied dangers and uncertainties and are based mostly on sure elements and assumptions. There might be no assurance that such statements will show to be correct, and precise outcomes and future occasions may differ materially from these anticipated in such statements. Essential elements that would trigger precise outcomes to vary materially from the Firm’s expectations embrace uncertainties referring to interpretation of drill outcomes and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and working prices; the necessity to acquire further financing to take care of its curiosity in and/or discover and develop the Firm’s mineral initiatives; uncertainty of assembly anticipated program milestones for the Firm’s mineral initiatives; and different dangers and uncertainties disclosed below the heading “Threat Elements” within the prospectus of the Firm dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR web site at www.sedar.com
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