Diskussion und Meinungen zu Atico Mining (Seite 4)
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ISIN: CA0475591099 · WKN: A1JVJW · Symbol: ATY
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Atico Reports Consolidated Financial Results for the First Quarter of 2017
http://www.minenportal.de/artikel.php?sid=202250&lang=en#Ati…
http://www.minenportal.de/artikel.php?sid=202250&lang=en#Ati…
Atico Mining Provides Exploration Update
Atico Mining Corp
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - Atico Mining Corp. (TSX VENTURE:ATY) (OTC PINK:ATCMF)("Atico" or the "Company") is pleased to announce, further to its February 8, 2017 press release, the complete results of the five hole exploration drill program at Santa Anita and the four hole program at San Lorenzo targets, along with the planned 2017 exploration program.
Fernando E. Ganoza, CEO, commented: "Positive assay results of the new scout drilling program, particularly at the Santa Anita target, continue to be very encouraging. The new drill data confirms the presence of favorable pathfinders similar to those that we see inside the El Roble mine and continues to support our thesis that this large target area remains highly conducive to hosting new massive sulfide mineralization." Mr. Ganoza added, "We will continue assessing these results to delineate further drilling at Santa Anita while we continue to prepare additional targets for the 2017 regional surface drill program."
Regional Exploration Drilling Update
Santa Anita Target
At Santa Anita, which lays south of the El Roble mine, the Company drilled 1207 meters of core in five drill holes up to a depth of 300 meters. The holes were collared, and oriented to test the contact between the favorable "black chert" unit - basalt contact and were between 200m and 300m apart. This contact is the locus of mineralization for the El Roble mine mineralization. Historic drilling carried out by the previous operator, at Santa Anita, had intersected a quartz-chlorite breccia with pyrite and chalcopyrite (DDH MERSA-1 = 37.5 meters 0.54% Cu, MERSA-4 = 3.6 meters 0.16% Cu). In particular, anomalous gold values in one of the drill holes interpreted by Atico's geologist represent the lower levels of a massive sulfide feeder, which lays stratigraphically below the current drill holes.
The recent drilling clearly demonstrated a thickening of the "black chert" unit over a strike length of approximately 600 meters indicative of a sub-basin favorable for the deposition and preservation of massive sulfides. The sub-basin appears to be bounded by faults which might have acted as feeders for mineralization. The black chert unit also contains 5-10% bedding-parallel stringers and blebs of pyrite-pyrrhotite suggesting a distal massive sulfide depositional environment.
Hole ATSA-005, drilled on the northern margin of the sub-basin intersected two intervals of highly anomalous gold (3.9 m at 2.25 g/t Au from 114.80 m and 5.3 m at 2.31 g/t Au from 138.55 m) supporting the alteration and pathfinder element vectors... .
http://www.minenportal.de/artikel.php?sid=201062&lang=en#Ati…
Atico Mining Corp
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - Atico Mining Corp. (TSX VENTURE:ATY) (OTC PINK:ATCMF)("Atico" or the "Company") is pleased to announce, further to its February 8, 2017 press release, the complete results of the five hole exploration drill program at Santa Anita and the four hole program at San Lorenzo targets, along with the planned 2017 exploration program.
Fernando E. Ganoza, CEO, commented: "Positive assay results of the new scout drilling program, particularly at the Santa Anita target, continue to be very encouraging. The new drill data confirms the presence of favorable pathfinders similar to those that we see inside the El Roble mine and continues to support our thesis that this large target area remains highly conducive to hosting new massive sulfide mineralization." Mr. Ganoza added, "We will continue assessing these results to delineate further drilling at Santa Anita while we continue to prepare additional targets for the 2017 regional surface drill program."
Regional Exploration Drilling Update
Santa Anita Target
At Santa Anita, which lays south of the El Roble mine, the Company drilled 1207 meters of core in five drill holes up to a depth of 300 meters. The holes were collared, and oriented to test the contact between the favorable "black chert" unit - basalt contact and were between 200m and 300m apart. This contact is the locus of mineralization for the El Roble mine mineralization. Historic drilling carried out by the previous operator, at Santa Anita, had intersected a quartz-chlorite breccia with pyrite and chalcopyrite (DDH MERSA-1 = 37.5 meters 0.54% Cu, MERSA-4 = 3.6 meters 0.16% Cu). In particular, anomalous gold values in one of the drill holes interpreted by Atico's geologist represent the lower levels of a massive sulfide feeder, which lays stratigraphically below the current drill holes.
The recent drilling clearly demonstrated a thickening of the "black chert" unit over a strike length of approximately 600 meters indicative of a sub-basin favorable for the deposition and preservation of massive sulfides. The sub-basin appears to be bounded by faults which might have acted as feeders for mineralization. The black chert unit also contains 5-10% bedding-parallel stringers and blebs of pyrite-pyrrhotite suggesting a distal massive sulfide depositional environment.
Hole ATSA-005, drilled on the northern margin of the sub-basin intersected two intervals of highly anomalous gold (3.9 m at 2.25 g/t Au from 114.80 m and 5.3 m at 2.31 g/t Au from 138.55 m) supporting the alteration and pathfinder element vectors... .
http://www.minenportal.de/artikel.php?sid=201062&lang=en#Ati…
Ein Monat alt, aber sehr aufschlussreich:
Friedland on the state of copper
In a keynote address at Mines and Money Moneyin Hong Kong yesterday, Friedland said while global warming remained a contentious debate, air pollution was a crisis that needed an immediate solution.
“It’s going to have a wicked effect on some raw materials,” he said.
He spoke of a “mushrooming mindset” in Europe and North America regarding the movement to electric vehicles.
“The transformation of the auto industry in the next 20 years will be the most significant transformation of our time,” Friedland said.
“But it’s in China where we’re going to have the biggest disruption.”
Friedland said anyone who didn’t believe the Chinese government’s pledge to return to blue skys was an “idiot”.
“The era of electric vehicles is dawning,” he said.
“This change is coming at you so fast – the only reason you don’t know about it is that the mining industry is populated by stupid people like me.”
Friedland said if one in 10 Chinese cars switched to hydrogen fuel cell cars, global platinum production would need to double to meet demand.
“But there’s only one commodity that benefits from the evolution of technology,” he said. “Copper.”
Friedland believes copper demand will soar due to its widespread use in new technology and the lack of discoveries.
“Don’t worry about the copper price today,” he said.
“You’re really going to feel it bite you on the derriere by 2021.
“You’re going to need a telescope to see the copper price in 2021!”
Friedland said to meet demand, copper production would need to double and it “ain’t gonna happen”.
And declining grades and reserves are only going to exacerbate the problem.
“Most copper mines today are like little old ladies waiting in bed to die,” Friedland said.
Even if no new technology was adopted, Friedland said there still wouldn’t be enough copper.
“This is a nightmare coming soon to a theatre near you,” he said.
“New technology is wildly copper intensive. Copper will be the most valuable of all metals.”
Friedland on the state of copper
In a keynote address at Mines and Money Moneyin Hong Kong yesterday, Friedland said while global warming remained a contentious debate, air pollution was a crisis that needed an immediate solution.
“It’s going to have a wicked effect on some raw materials,” he said.
He spoke of a “mushrooming mindset” in Europe and North America regarding the movement to electric vehicles.
“The transformation of the auto industry in the next 20 years will be the most significant transformation of our time,” Friedland said.
“But it’s in China where we’re going to have the biggest disruption.”
Friedland said anyone who didn’t believe the Chinese government’s pledge to return to blue skys was an “idiot”.
“The era of electric vehicles is dawning,” he said.
“This change is coming at you so fast – the only reason you don’t know about it is that the mining industry is populated by stupid people like me.”
Friedland said if one in 10 Chinese cars switched to hydrogen fuel cell cars, global platinum production would need to double to meet demand.
“But there’s only one commodity that benefits from the evolution of technology,” he said. “Copper.”
Friedland believes copper demand will soar due to its widespread use in new technology and the lack of discoveries.
“Don’t worry about the copper price today,” he said.
“You’re really going to feel it bite you on the derriere by 2021.
“You’re going to need a telescope to see the copper price in 2021!”
Friedland said to meet demand, copper production would need to double and it “ain’t gonna happen”.
And declining grades and reserves are only going to exacerbate the problem.
“Most copper mines today are like little old ladies waiting in bed to die,” Friedland said.
Even if no new technology was adopted, Friedland said there still wouldn’t be enough copper.
“This is a nightmare coming soon to a theatre near you,” he said.
“New technology is wildly copper intensive. Copper will be the most valuable of all metals.”
Paul Conibear von Lundin gestern auf Bloomberg:
- Sieht Kupfer nächstes Jahr bei 3,5 - 4,0 Dollar
- Betont den Mangel an bedeutenden Projekten
- Denkt über Zukäufe nach
https://www.bloomberg.com/news/videos/2017-04-27/lundin-ceo-…
- Sieht Kupfer nächstes Jahr bei 3,5 - 4,0 Dollar
- Betont den Mangel an bedeutenden Projekten
- Denkt über Zukäufe nach
https://www.bloomberg.com/news/videos/2017-04-27/lundin-ceo-…
Brave Jungs:-)
By mouthbreather demand: IKN writes nice things about a junior mining stock
I'm getting another round of dumbasses asking me why I'm so negative on the mining industry, why I always post nasty things about juniors, why don't I have a life and seem to be such a bitter twisted piece of crud and, just to prove they don't have the first freaking clue about the word, asking me why I'm such a troll.
Yes indeed, another day in mailbag paradise, wading through mouthbreather mails and their painful grammar.
But hey, I'm supposed to be a capitalist and want growth and recognition and the customer is always right and all that shit, so today I've decided that it's time to kow-tow to the market braindead and give them a reco for a stock that's truly worth their time owning. By way of disclosure, yes indeed I own shares in the company I'm about to mention and it's also covered in The IKN Weekly, so I'd assume a portion of IKN Weekly subbers also own some. I bought at lower prices and have a target that's substantially higher than today's market price, so I'm not trying to rip you off like Marin Katusa does and sell into any new buying, I'm a strong holder until my target is hit. This stock is going to have an excellent financial 2017 and the next quarter in particular is set to be a blow-out, which will make all the sell-side anal ysts who doubt its balance sheet STFU once and for all. So buy yourself some Atico Mining (ATY.v) mouthbreathers, anything under 70c is a drop-dead knockdown bargain, even paying 80c is dirt cheap and a no-brainer. Which is perfect for people like you.
Have a nice day. Love and kisses, Otto.
@IKN
By mouthbreather demand: IKN writes nice things about a junior mining stock
I'm getting another round of dumbasses asking me why I'm so negative on the mining industry, why I always post nasty things about juniors, why don't I have a life and seem to be such a bitter twisted piece of crud and, just to prove they don't have the first freaking clue about the word, asking me why I'm such a troll.
Yes indeed, another day in mailbag paradise, wading through mouthbreather mails and their painful grammar.
But hey, I'm supposed to be a capitalist and want growth and recognition and the customer is always right and all that shit, so today I've decided that it's time to kow-tow to the market braindead and give them a reco for a stock that's truly worth their time owning. By way of disclosure, yes indeed I own shares in the company I'm about to mention and it's also covered in The IKN Weekly, so I'd assume a portion of IKN Weekly subbers also own some. I bought at lower prices and have a target that's substantially higher than today's market price, so I'm not trying to rip you off like Marin Katusa does and sell into any new buying, I'm a strong holder until my target is hit. This stock is going to have an excellent financial 2017 and the next quarter in particular is set to be a blow-out, which will make all the sell-side anal ysts who doubt its balance sheet STFU once and for all. So buy yourself some Atico Mining (ATY.v) mouthbreathers, anything under 70c is a drop-dead knockdown bargain, even paying 80c is dirt cheap and a no-brainer. Which is perfect for people like you.
Have a nice day. Love and kisses, Otto.
@IKN
Trading Spotlight
Antwort auf Beitrag Nr.: 54.721.830 von trobs am 12.04.17 01:51:38
Atico hat einen Inventarüberhang ..wie es aussieht steht da noch eine gehörige Portion Konzentrat aus, die wir hoffentlich in den nächsten Tagen feiern dürfen
Ich bin mal gespannt wieviel das zusätzlich ausmacht!!
Zitat von trobs: Atico Produces 5.05 Million Pounds of Cu and 2,550 Ounces of Au in First Quarter 2017
... "Along with robust operating results the Company has made three concentrate shipments during the quarter that will be reflected in the first quarter financial results...
Atico hat einen Inventarüberhang ..wie es aussieht steht da noch eine gehörige Portion Konzentrat aus, die wir hoffentlich in den nächsten Tagen feiern dürfen
Ich bin mal gespannt wieviel das zusätzlich ausmacht!!
4/11/17
Atico (ATY.v) 1q17 production
Another good quarter.
@IKN
Atico (ATY.v) 1q17 production
Another good quarter.
@IKN
Atico Produces 5.05 Million Pounds of Cu and 2,550 Ounces of Au in First Quarter 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 11, 2017) - Atico Mining Corp. (the "Company" or "Atico") (TSX VENTURE:ATY)(OTC PINK:ATCMF) announces its operating results for the three months ended March 31, 2017 from its El Roble mine. Production for the quarter totaled 5.05 million pounds of copper and 2,550 ounces of gold in concentrates, an increase of 18% for copper and a decrease of 2% for gold over the same period in 2016.
"We are very pleased to report the Company has had another strong operating quarter maintaining its previously reached historic high for processed ore and produced copper, while getting us to a strong start of the year well in line with the operational objectives for 2017." said Fernando E. Ganoza, CEO. "Along with robust operating results the Company has made three concentrate shipments during the quarter that will be reflected in the first quarter financial results. We will continue to look for opportunities to further optimize the mine in the subsequent quarters and focus on delivering on our 2017 guidance."
First Quarter Operational Highlights
Production of 5.05 million pounds of copper contained in concentrates; an increase of 18% over Q1 2016.
Production of 2,550 ounces of gold contained in concentrates; a very slight decrease over Q1 2016.
Average processed tonnes per day of 810, an increase of 4% over Q1 2016.
Copper head grade of 3.89%, an increase of 2% over Q1 2016.
Gold head grade of 1.92 grams per tonne; a decrease of 13% over Q1 2016.
Copper and gold recovery of 93.5% and 65.8%; a decrease of 1% for copper 2% for gold over Q1 2016.
http://www.minenportal.de/artikel.php?sid=197617&lang=en#Ati…
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 11, 2017) - Atico Mining Corp. (the "Company" or "Atico") (TSX VENTURE:ATY)(OTC PINK:ATCMF) announces its operating results for the three months ended March 31, 2017 from its El Roble mine. Production for the quarter totaled 5.05 million pounds of copper and 2,550 ounces of gold in concentrates, an increase of 18% for copper and a decrease of 2% for gold over the same period in 2016.
"We are very pleased to report the Company has had another strong operating quarter maintaining its previously reached historic high for processed ore and produced copper, while getting us to a strong start of the year well in line with the operational objectives for 2017." said Fernando E. Ganoza, CEO. "Along with robust operating results the Company has made three concentrate shipments during the quarter that will be reflected in the first quarter financial results. We will continue to look for opportunities to further optimize the mine in the subsequent quarters and focus on delivering on our 2017 guidance."
First Quarter Operational Highlights
Production of 5.05 million pounds of copper contained in concentrates; an increase of 18% over Q1 2016.
Production of 2,550 ounces of gold contained in concentrates; a very slight decrease over Q1 2016.
Average processed tonnes per day of 810, an increase of 4% over Q1 2016.
Copper head grade of 3.89%, an increase of 2% over Q1 2016.
Gold head grade of 1.92 grams per tonne; a decrease of 13% over Q1 2016.
Copper and gold recovery of 93.5% and 65.8%; a decrease of 1% for copper 2% for gold over Q1 2016.
http://www.minenportal.de/artikel.php?sid=197617&lang=en#Ati…
Bin seit gestern dabei: Einstiegskurs C$ 0,79
Atico Mining Reports 2016 Q4 and Full Year Production Results
Copper Colombia Production Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 17, 2017) - Atico Mining Corporation (the "Company" or "Atico") (TSX VENTURE:ATY)(OTC PINK:ATCMF) is pleased to announce operating results for the three and twelve month periods ended December 31, 2016 from its El Roble mine. Production totaled 5.15 million pounds of copper with 2,832 ounces of gold for the fourth quarter and 18.72 million pounds of copper with 11,159 ounces of gold in concentrates for the full year 2016.
"Atico has successfully concluded its third full year of operating the El Roble mine, exceeding the 2016 guidance while achieving the highest production to date and significantly improving the safety standards," said Fernando E. Ganoza, CEO. "In the new year the Company will continue optimizing the El Roble operation while focusing on increasing the resources at the mine and exploring the prospective 6,600 ha land package surrounding the El Roble mine."
Fourth Quarter and Full Year Operational Highlights
Fourth Quarter
Production of 5.15 million pounds of copper contained in concentrates; an increase of 33% over Q4 2015.
Production of 2,832 ounces of gold contained in concentrates; a decrease of 18% over Q4 2015.
Average processed tonnes per day of 790; an increase of 8% over Q4 2015.
Copper and gold head grades of 3.92% and 2.19 grams per tonne; an increase of 17% for copper and a decrease of 17% for gold over Q4 2015.
Copper and gold recovery of 94.7% and 63.8%; an increase of 0% for copper and a decrease 12% for gold over Q4 2015.
2016 Year-end
Production of 18.72 million pounds of copper contained in concentrates; an increase of 55% over 2015.
Production of 11,159 ounces of gold contained in concentrates; an increase of 2% over 2015.
Average processed tonnes per day of 788; an increase of 24% over 2015.
Copper and gold head grades of 3.71% and 2.17 grams per tonne; an increase of 14% for copper and a decrease of 22% for gold over 2015.
Copper and gold recovery of 94.2% and 66.1%; an increase of 0% for copper and a decrease of 5% for gold over 2015.
Fourth Quarter and Full Year Operational Details
Q1
Total Q2
Total Q3
Total Q4
Total 2016
Total
Production (Contained in Concentrates)
Copper (000s pounds) 4,277 4,787 4,515 5,146 18,724
Gold (ounces) 2,566 2,948 2,813 2,832 11,159
Mine
Tonnes of ore mined 53,752 63,112 63,539 64,314 244,717
Mill
Tonnes processed 53,715 64,246 61,886 62,870 242,717
Tonnes processed per day 778 814 766 790 788
Copper grade (%) 3.81 3.63 3.48 3.92 3.71
Gold grade (g/t) 2.21 2.19 2.08 2.19 2.17
Recoveries
Copper (%) 94.4 93.0 94.6 94.7 94.2
Gold (%) 67.3 65.0 67.9 63.8 66.1
Concentrates
Copper and Gold Concentrates (dmt) 9,674 10,718 10,221 10,881 41,494
Payable copper produced (000s lbs) 4,048 4,527 4,312 4,889 17,776
Note: Metal production figures are subject to adjustments based on final settlement.
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 nominal capacity of 400 tonnes per day. The mine has a continuous operating history of twenty-two years, with recorded production of 1.5 million tonnes of ore at an average head grade of 2.6% copper and an estimated gold grade of 2.5 g/t. Copper and gold mineralization at the El Roble property occurs in volcanogenic massive sulfide ("VMS") lenses.
Since entering into the option agreement in January 2011 to acquire 90% of El Roble, Atico has aggressively explored the mine and surrounding claims. The Company has completed 31,377 meters of diamond drilling and identified numerous prospective targets for VMS deposits on the 6,679-hectare property. This exploration led to the discovery of high-grade copper and gold mineralization below the 2000 level, the lowest production level of the El Roble mine. Atico has developed a new adit access from the 1880 elevation to develop these new resources.
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 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 15 prospective target areas for VMS type mineralization occurrence, which is the focus of the 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.
Copper Colombia Production Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 17, 2017) - Atico Mining Corporation (the "Company" or "Atico") (TSX VENTURE:ATY)(OTC PINK:ATCMF) is pleased to announce operating results for the three and twelve month periods ended December 31, 2016 from its El Roble mine. Production totaled 5.15 million pounds of copper with 2,832 ounces of gold for the fourth quarter and 18.72 million pounds of copper with 11,159 ounces of gold in concentrates for the full year 2016.
"Atico has successfully concluded its third full year of operating the El Roble mine, exceeding the 2016 guidance while achieving the highest production to date and significantly improving the safety standards," said Fernando E. Ganoza, CEO. "In the new year the Company will continue optimizing the El Roble operation while focusing on increasing the resources at the mine and exploring the prospective 6,600 ha land package surrounding the El Roble mine."
Fourth Quarter and Full Year Operational Highlights
Fourth Quarter
Production of 5.15 million pounds of copper contained in concentrates; an increase of 33% over Q4 2015.
Production of 2,832 ounces of gold contained in concentrates; a decrease of 18% over Q4 2015.
Average processed tonnes per day of 790; an increase of 8% over Q4 2015.
Copper and gold head grades of 3.92% and 2.19 grams per tonne; an increase of 17% for copper and a decrease of 17% for gold over Q4 2015.
Copper and gold recovery of 94.7% and 63.8%; an increase of 0% for copper and a decrease 12% for gold over Q4 2015.
2016 Year-end
Production of 18.72 million pounds of copper contained in concentrates; an increase of 55% over 2015.
Production of 11,159 ounces of gold contained in concentrates; an increase of 2% over 2015.
Average processed tonnes per day of 788; an increase of 24% over 2015.
Copper and gold head grades of 3.71% and 2.17 grams per tonne; an increase of 14% for copper and a decrease of 22% for gold over 2015.
Copper and gold recovery of 94.2% and 66.1%; an increase of 0% for copper and a decrease of 5% for gold over 2015.
Fourth Quarter and Full Year Operational Details
Q1
Total Q2
Total Q3
Total Q4
Total 2016
Total
Production (Contained in Concentrates)
Copper (000s pounds) 4,277 4,787 4,515 5,146 18,724
Gold (ounces) 2,566 2,948 2,813 2,832 11,159
Mine
Tonnes of ore mined 53,752 63,112 63,539 64,314 244,717
Mill
Tonnes processed 53,715 64,246 61,886 62,870 242,717
Tonnes processed per day 778 814 766 790 788
Copper grade (%) 3.81 3.63 3.48 3.92 3.71
Gold grade (g/t) 2.21 2.19 2.08 2.19 2.17
Recoveries
Copper (%) 94.4 93.0 94.6 94.7 94.2
Gold (%) 67.3 65.0 67.9 63.8 66.1
Concentrates
Copper and Gold Concentrates (dmt) 9,674 10,718 10,221 10,881 41,494
Payable copper produced (000s lbs) 4,048 4,527 4,312 4,889 17,776
Note: Metal production figures are subject to adjustments based on final settlement.
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 nominal capacity of 400 tonnes per day. The mine has a continuous operating history of twenty-two years, with recorded production of 1.5 million tonnes of ore at an average head grade of 2.6% copper and an estimated gold grade of 2.5 g/t. Copper and gold mineralization at the El Roble property occurs in volcanogenic massive sulfide ("VMS") lenses.
Since entering into the option agreement in January 2011 to acquire 90% of El Roble, Atico has aggressively explored the mine and surrounding claims. The Company has completed 31,377 meters of diamond drilling and identified numerous prospective targets for VMS deposits on the 6,679-hectare property. This exploration led to the discovery of high-grade copper and gold mineralization below the 2000 level, the lowest production level of the El Roble mine. Atico has developed a new adit access from the 1880 elevation to develop these new resources.
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 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 15 prospective target areas for VMS type mineralization occurrence, which is the focus of the 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.
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