Atico Reports 2019 Fourth Quarter and Full Year Production Results

VANCOUVER, British Columbia, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to announce operating results for the three and twelve month periods ended December 31, 2019 from its El Roble mine. Production totaled 5.62 million pounds of copper with 3,492 ounces of gold for the fourth quarter (“Q4 2018”) and 16.85 million pounds of copper with 10,480 ounces of gold in concentrates for the full year 2019.

“Atico has successfully concluded its sixth full year of operating the El Roble mine and despite a 75-day strike in the first two quarters, the Company was able to recover and exceed most of the adjusted 2019 operational guidance,” said Fernando E. Ganoza, CEO. “Along with outstanding operational performance in the second half of the year, the Company is expecting strong revenues for the fourth quarter as two concentrate shipments were made, and overall, robust financials for year-end 2019. In the upcoming year, we will continue aggressive exploration at El Roble and La Plata properties to unlock value of the respective land packages while working towards achieving operational guidance for 2020.”

Fourth Quarter and Full Year Operational Highlights

Fourth Quarter

• Production of 5.62 million pounds of copper contained in concentrates; a decrease of 3% over Q4 2018.
• Production of 3,492 ounces of gold contained in concentrates; an increase of 20% over Q4 2018.
• Average processed tonnes per day of 859; no significant change over Q4 2018.
• Copper and gold head grades of 3.61% and 2.41 grams per tonne; a decrease of 1% for copper and an increase of 21% for gold over Q4 2018.
• Copper and gold recovery of 92.0% and 59.0%; a decrease of 1% for copper and 2% for gold over Q4 2018.

2019 Year-end

• Production of 16.85 million pounds of copper contained in concentrates; a decrease of 23% over 2018.
• Production of 10,480 ounces of gold contained in concentrates; a decrease of 8% over 2018.
• Average processed tonnes per day of 855; an increase of 3% over 2018.
• Copper and gold head grades of 3.51% and 2.35 grams per tonne; a decrease of 5% for copper and an increase of 15% for gold over 2018.
• Copper and gold recovery of 92.0% and 58.5%; a decrease of 2% for copper and 3% for gold over 2018.

Fourth Quarter and Full Year Operational Details