Atico Mining Provides Exploration Update
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Atico Mining Provides Exploration Update
Vancouver, February 8th, 2017 -- Atico Mining Corporation (TSX.V: ATY | OTC:
ATCMF)(“Atico” or the “Company”) is plea sed to announce the completion of 2 ,500 m of
core drilling on the San Lorenzo and Santa Anita prospect on the El Roble license which
covers 10 km of strike length of the prospective El Roble massive sulfide ho rizon and hosts
the operating El Roble copper-gold mine. The drilling consisted of 4 holes on San Lorenzo
and 5 holes on Santa Anita with a maximum downhole length of 335 meters.
Fernando E. Ganoza, CEO, commented: “We are pleased with the outcome of the new scout
drilling at the San Lorenzo and Santa Anita targets. The results to date confirm these large
target areas are highly conducive to hosting new massive sulphide mineralization and remain
very prospective.” Mr. Ganoza added, “ We will continue assessing these results to delineate
further drilling at San Lorenzo and Santa Anita while we continue to prepare additional targets
for the 2017 regional surface drill program.”
Regional Exploration Drilling Update
Logging of the core confirms the interpretation of the geology of the area derived from surface
mapping. Significantly, it shows local development of sub -basins in the El Roble horizon
topography having the potential for massive sulfide mineralization as e videnced by thickening
of the “black chert” units at Santa Anita. At San Lorenzo chalcopyrite has been noted on
fractures in hematite altered sediments above the ‘black chert” unit and may represent bleed -
through from underlying mineralization. The common occurrence of 5% or more of pyrite -
pyrrhotite banded layers, nodules and stringers in the “black chert” unit, together with
alteration may serve as vectors to nearby massive sulfide mineralization.
Preliminary results from two drill holes each from San Lo renzo and Santa Anita show
anomalous copper, gold, silver, zinc, mercury, tellurium and other cogener trace elements to
massive sulfide mineralization coincident with the basalt – “black chert” contact. As more
results are received from the remaining six d rill holes it may become possible to use this
anomalous geochemistry to vector into massive sulfide mineralization.
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
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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. Mineralizati on 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 be en 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 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.
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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 g rade
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 mil estones for the Company’s mineral projects; 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