Atico Produces 5.15 Million Pounds of Cu and 2,570 Ounces of Au in Second Quarter 2017
Page 1 of 4
Atico Produces 5.15 Million Pounds of Cu and 2,570 Ounces of Au in Second
Quarter 2017
Vancouver, July 18, 2017 -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V:
ATY | OTC: ATCMF) announces its operating results for the three months ended June 30,
2017 from its El Roble mine. Production for the quarter totaled 5.15 million pounds of copper
and 2,570 ounces of gold in concentrates, an increase of 8% for copper and a decrease of 13%
for gold over the same period in 2016.
“We are very please d to report a strong operating quarter maintaining steady state production
levels and remaining in line to reach operational objectives for 2017 .” said Fernando E.
Ganoza, CEO. “For the remainder of the year, the Company will continue focusing on the
regional and mine vicinity exploration programs with four rigs currently drilling on surface
and underground.”
Second Quarter Operational Highlights
Production of 5.15 million pounds of copper contained in concentrates ; an increase of
8% over Q2 2016.
Production of 2,570 ounces of gold contained in concentrates ; a decrease of 13% over
Q2 2016.
Average processed tonnes per day of 794, a decrease of 3% over Q2 2016.
Copper head grade of 3.94%, an increase of 9% over Q2 2016.
Gold head grade of 2.07 grams per tonne; a decrease of 6% over Q2 2016.
Copper and gold recover y of 94.4% and 61.8%; an increase of 2% for copper and a
decrease of 5% for gold over Q2 2016.
Second Quarter Operational Review
Processed ore was in line with Company budget for the second quarter. The increase in higher
copper output for the quarter relative to Q 2-2016 is explained by a higher copper head grade
and an increase in copper recovery . In the case for gold production , a planned lower head
grade and a decrease in the gold recovery resulted in lower gold output over Q2-2016.
Copper recoveries were higher than the same period last year, while gold recoveries during the
quarter were in line with Company projection s. Gold recovery decreased sli ghtly as expected
driven by a 10% increase in the copper content in the concentrate to 2 2.34% (20.30% in Q 2-
2016). This increase in the copper content in the concentrate provides a net economic benefit
offsetting the resulting decrease in gold recovery . The Company will continue to explore
increasing the copper content in the concentrate in the following quarte rs while increasing the
gold recovery.
Page 2 of 4
The operation remains on track to deliver on set guidance throughout the remainder of the
year.
Second Quarter Operational Details
Q2 2017
Total
Q2 2016
Total
% Change
Production (Contained in Concentrates)
Copper (000s pounds) 5,154 4,786 8%
Gold (ounces) 2,570 2,948 -13%
Mine
Tonnes of ore mined 65,942 63,112 5%
Mill
Tonnes processed 62,802 64,246 -2%
Tonnes processed per day 794 814 -3%
Copper grade (%) 3.94 3.62 9%
Gold grade (g/t) 2.07 2.20 -6%
Recoveries
Copper (%) 94.4 93.0 2%
Gold (%) 61.8 65.0 -5%
Concentrates
Copper and Gold Concentrates (dmt) 10,460 10,718 -2%
Payable copper produced (000s lbs) 4,897 4,547 8%
Note: Metal production figures are subject to adjustments based on final settlement.
Page 3 of 4
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 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 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 pelagic sediments and cherts that has been traced
by Atico geologists for ten kilometers. This co ntact 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.
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.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Page 4 of 4
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 state ments, 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 assumptio ns. 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 fro m 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 ma intain 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
The Company has not based its production decisions and ongoing mine production on mineral reserve estimates,
preliminary economic assessments or feasibility studies, and historically such projects have increased
uncertainty and risk of failure. Mineral res ources that are not mineral reserves do not have demonstrated
economic viability.
Non-GAAP Financial Measures
The items marked with a "(1)" are alternative performance measures and readers should refer to Non -GAAP
Financial Measures in the Company's Management's Discussion and Analysis for the nine months ended
September 30, 2016 as filed on SEDAR and as available on the Company's website for further details.