Atico Produces 3.16 Million Pounds of Cu and 2,116 Ounces of Au in Second Quarter 2019
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Atico Produces 3.16 Million Pounds of Cu and 2,116 Ounces of Au in Second
Quarter 2019
Vancouver, July 22, 2019 -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V:
ATY | OTC: ATCMF) announces its operating results for the three months ended June 30, 2019
from its El Roble mine. Production for the quarter totaled 3.16 million pounds of copper and
2,116 ounces of gold in concentrates , a decrease of 40% for copper and 18% for gold,
respectively, over the same period in 2018.
“During the second quarter, the effects of the El Roble mine strike were evident in our results
as they continued to limit our ability to reach operational objectives for the quarter ,” said
Fernando E. Ganoza, CEO. “Now that the operation is back to steady state levels, we will strive
to achieve our adjusted guidance for the year as we continue our aggressive drill campaign on
the 6,300-ha land package.”
Second Quarter Operational Highlights
• Production of 3.16 million pounds of copper contained in concentrates ; a decrease of
40% over Q2 2018.
• Production of 2,116 ounces of gold contained in concentrates ; a decrease of 18% over
Q2 2018.
• Average processed tonnes per day of 839, an increase of 6% over Q2 2018.
• Copper head grade of 3.28%, a decrease of 13% over Q2 2018.
• Gold head grade of 2.34 grams per tonne; an increase of 16% over Q2 2018.
• Copper and gold recover y of 91.7% and 58.4%; a decrease of 2% for both copper and
gold over Q2 2018.
Second Quarter Operational Details
Q2 2019
Total
Q2 2018
Total
% Change
Production (Contained in Concentrates)
Copper (000s pounds) 3,157 5,220 -40%
Gold (ounces) 2,116 2,596 -18%
Mine
Tonnes of ore mined 47,321 67,255 -29%
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Mill
Tonnes processed 47,534 67,308 -30%
Tonnes processed per day 839 792 6%
Copper grade (%) 3.28 3.76 -13%
Gold grade (g/t) 2.34 2.02 16%
Recoveries
Copper (%) 91.7 93.7 -2%
Gold (%) 58.4 59.5 -2%
Concentrates
Copper and Gold Concentrates (dmt) 6,561 10,717 40%
Payable copper produced (000s lbs) 2,999 4,960 40%
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 850 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 historical nominal capacity of 400
tonnes per day.
El Roble has Proven and Probable r eserves of 1.47 million tonnes grading 3.40% copper and
1.88 g/t gold, at a cut-off grade of 1.93% copper equivalent as of June 30, 2018. Mineralization
is open at depth and along strike and the Company plans to further test the limits of the deposit.
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 prospective for
VMS type mineralization occurrence, which is the focus of the current surface drill program at
El Roble.
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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 repo rts 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.
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 mater ially from the Company’s expectations include
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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 financ ing 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 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