Atico Reports 2018 Fourth Quarter and Full Year Production Results
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Atico Reports 2018 Fourth Quarter and Full Year Production Results
Vancouver, January 29, 201 9 -- Atico Mining Corporation (the “Company” or “Atico”)
(TSX.V: ATY | OTC: ATCMF) is pleased to announce operating results for the three and twelve
month period s ended December 31 , 201 8 from its El Roble mine. Production totaled 5.81
million pounds of copper with 2,913 ounces of gold for the fourth quarter (“Q4 2018”) and
21.87 million pounds of copper with 11,344 ounces of gold in concentrates for the full year
2018.
“Atico has successfully concluded its fifth full year of operating the El Roble mine, exceeding
most of the 2018 guidance while achieving the highest annual production results to date,” said
Fernando E. Ganoza, CEO. “In the upcoming year, we will continue aggressive exploration at
the El Roble property with an intensified focus on the prospective 6,400-hectare land package
while working towards achieving stated guidance.”
Fourth Quarter and Full Year Operational Highlights
Fourth Quarter
• Production of 5.81 million pounds of copper contained in concentrates; an increase of
9% over Q4 2017.
• Production of 2,913 ounces of gold contained in concentrates; a decrease of 2% over Q4
2017.
• Average processed tonnes per day of 867; a, increase of 9% over Q4 2017.
• Copper and gold head grades of 3.66% and 2.00 grams per tonne; a decrease of 8% for
copper and 11% for gold over Q4 2017.
• Copper and gold recovery of 93.5% and 59.0%; a decrease of 1% for copper and 8% for
gold over Q4 2017.
2018 Year-end
• Production of 21.87 million pounds of copper contained in concentrates; an increase of
6% over 2017.
• Production of 11,344 ounces of gold contained in concentrates; an increase of 4% over
2017.
• Average processed tonnes per day of 827; an increase of 5% over 2017.
• Copper and gold head grades of 3.71% and 2.05 grams per tonne; a decrease of 4% for
copper and 2% for gold over 2017.
• Copper and gold recovery of 93.6% and 60.4%; no significant change for copper and a
decrease of 5% for gold over 2017.
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Fourth Quarter and Full Year Operational Details
Q1 Total Q2 Total Q3 Total Q4 Total 2018 Total
Production (Contained in Concentrates)
Copper (000s pounds) 5,476 5,220 5,358 5,811 21,867
Gold (ounces) 2,825 2,596 3,010 2,913 11,344
Mine
Tonnes of ore mined 67,022 67,255 70,652 73,575 278,504
Mill
Tonnes processed 69,499 67,308 71,760 76,985 285,551
Tonnes processed per day 812 792 837 867 827
Copper grade (%) 3.80 3.76 3.63 3.66 3.71
Gold grade (g/t) 2.03 2.02 2.17 2.00 2.05
Recoveries
Copper (%) 94.0 93.7 93.4 93.5 93.63
Gold (%) 62.8 59.5 60.3 59.0 60.35
Concentrates
Copper and Gold Concentrates (dmt) 11,474 10,717 10,877 11,827 44,896
Payable copper produced (000s lbs) 5,202 4,960 5,105 5,521 20,788
Note: Metal production figures are subject to adjustments based on final settlement.
2019 Operating and Capital Guidance
2019 Production and Cost Guidance
Copper (000s pounds) 20,000 to 21,000
Gold (ounces) 10,200 to 10,700
C1 Cash Cost ($US)(1) $1.50 to $1.55
Note: Please see “Non-GAAP Financial Measures” at the end of this release. C1 cash cost per pound of payable
copper produced net of by-product credits and selling costs.
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El Roble Mine
The El Roble mine is a high grade, underground copper and gold mine with nominal processing
plant capacity of 8 50 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 reserves 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. 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.
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
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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 juri sdiction.
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, 2018 as filed on SEDAR and as available on the Company's website for further details.
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 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