Atico Restarts Mining Operations at El Roble, Intercepts Massive Sulfide Extension at La Plata and Provides Exploration plans for 2021
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Atico Restarts Mining Operations at El Roble, Intercepts Massive Sulfide Extension at
La Plata and Provides Exploration plans for 2021
Vancouver, February 22, 2021 -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY
| OTC: ATCMF) reports that the final systems inspection at the El Roble mine was successful and ramp
up to steady state throughput has been attained. The Company is also reinitiating its plans for an
aggressive exploration campaign at both projects with a budget of up to 30,000 meters of drilling for
2021.
“We are pleased to report a successful restart of operations at the El Roble mine along with announcing
the most aggressive exploration pro gram the Company has managed since inception ,” said Fernando
E. Ganoza, CEO. “Given the current metal price environment we are continuing to see exceptionally
robust cashflow generation as 2021 is on track to be another record-breaking year for the Company. At
this pace, we will be in an even stronger position to further reevaluate the 2021 exploration budget with
the intent to increase it for the second half of the year.”
Successful ramp up at El Roble
As part of the Company’s transparency policy and bringing additional information on the news release
dated February 16 th, the Company inspected a ll components of the tailing pipe system, including the
relief valve systems where some components were replaced ahead of schedule and sub jected to the
rigorous testing protocols. The inspection also confirmed that the incident didn’t pose any material threat
to the health of employees, communities, or the environment. A restart protocol of the plant was then
coordinated with the provincial authorities , including testing the new piping systems followed by
methodically ramping-up the plant production to its normal capacity. This incident has also demonstrated
the agility and effectiveness of the safety protocols in place at the El Roble Mine as the safety of people
and the environment remains a top priority for Atico.
Exploration and Engineering
The program will be divided between the two projects. At El Roble the plan is to drill up to 18,000 meters
on both regional and near mine exploration targets. While at La Plata project in Ecuador, the team’s plan
is to drill up to 12,000 meters for the year . The program at La Plata is already beginning to yield good
results. The explorations team has completed 2 successful diamond drill holes located outside of the
existing polygon, in the zone called the “Guatuza Extension”. These holes have intercepted additional
semi-massive sulfide structures reporting visual copper and zinc mineralization. These cores are being
logged, split and sent to the preparation laboratory required for their geochemistry analysis. Our partner,
ALS Chemex Laboratories, is working at reduced capacity at this moment due to the existing COVID
restrictions and we are expecting certified results in due course.
At the El Roble project, t he exploration team is focused on regional exploration a nd has awarded
InnovExplo a mandate for their collaboration in the target generation process. The exercise will consist
of processing 30 years of existing data (production, drilling and geochem results, geophysics, structural
analysis, regional geology, etc .) and processing all that information with specialized computers and
softwares. This exercise will optimize the 3D analysis resulting in the generation of high priority regional
targets. InnovExplo is a highly recognized geology firm which has worked with more than 175 mining
companies; on roughly 500 different mandates; covering North America, South America, Africa, and
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Europe. InnovExplo brings their scientific approach and successful past experience in large data
compilations, interpretation and target generation.
Qualified Control
Dr. Michael Druecker, CPG, is 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 origin al reports and data provided to or developed by Atico Mining Corporation. Dr.
Druecker 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 generates significant cash flow through the operation of the El
Roble mine and is developing its high -grade La Plata VMS project in Ecuador. The Company is also
pursuing additional acquisition of advanced stage 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 A ct 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
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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 t he 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 mee ting anticipated
program milestones for the Company’s mineral projects; the world -wide economic and social impact of COVID -
19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions
related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities,
the Company and others to such pandemic or other issues; 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