Atico Mining Discovers Copper-Rich Massive Sulfide at Surface and Extends El Roble Mineralization
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Atico Mining Discovers Copper-Rich Massive Sulfide at Surface and Extends El Roble
Mineralization
Vancouver, June 22, 2017 -- Atico Mining Corporation (TSX.V: ATY | OTC:
ATCMF)(“Atico” or the “Company”) is plea sed to announce the discovery of a surface
exposure of a copper-rich massive sulfide , cropping out some 130 meters north of the El
Roble mine mineralization.
Fernando E. Ganoza , CEO, commented: “We are very excited about this new discovery as it
continues to demonstrate the potential of the El Roble property. In the weeks to come, the
explorations team will continue to work in the Archie target area to prepare in preparation for
drill testing.” Mr. Ganoza added, “We are looking forward to results from our ongoing
regional drill program which will continue throughout this year, including testing of the
immediate areas below and around the newly discovered outcrop.”
The discovery was made while following up on pathfinder element geochemical vectors and
the planning of a fence of four drill holes between the El Roble and the Archi e target. Three
channel samples on the outcrop assayed consistently high copper grades as shown in the table
below:
# Sample East North Elevation Type Cu (%) Au (ppm)
AT16-0232 374839 655664 2276 Chanel 1.2m 7.168 0.21
AT16-0234 374839 655664 2276 Chanel 1.1m 12.468 0.11
AT16-0234 374839 655664 2276 Chanel 1.0m 9.472 0.09
The massive sulfide outcrop shows both banded and breccia textures Figure 1 similar to those
encountered in the mine mineralization. The relatively low gold grades may indicate a slightly
more distal position to the gold -rich, central, portion of the El Roble mineralization that has
been mined to date. Figure 2 shows a long section of the El Roble mi ne with the position of
the massive sulfide outcrop indicated relative to known mineralization as well as the proposed
drill holes.
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Figure 1 In situ massive sulfide outcrop showing location of channel samples with very high copper grades.
The mineralized outcrop occurs north of an inferred fault which appears to truncate the north
end of the El Roble mineralization and thus extends it across the fault into an area having a
gap in the previous drilling. It is possible that the mineralization may be a continuation to
surface of the northernmost lens of mineralization encountered on the 2000 level of the mine,
a vertical distance of about 300 meters.
The nine planned drill holes are designed to test the favorable “black chert” – basalt contact
zone underneath the newly discovered massive sulfide outcrop and further to the north to a
depth of 300 meters.
This new discovery of massive sulfide opens up the possibility of finding additional
mineralization north of mine in the “drill gap” and possibly even further north and at depth.
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Note: Darker color proposed drill holes collared at higher elevation and projected intersection.
Figure 2 Longitudinal section view of the El Roble mine vicinity
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 Novembe r 22, 2013, Atico has upgraded the operation
from a historical nominal capacity of 400 tonnes per day.
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 equiva lent. 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 pelagic sediments and 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 numerous target areas
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prospective for VMS type mineralization occurrence, which is the focus of the current surface
drill program at El Roble.
Qualified Control
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, 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. Pohl 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 operates the El Roble mine and is pursuing
additional acquisition 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 auth ority 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 inform ation 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
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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 statemen ts. 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; and ot her 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