Atico Advancing La Plata Towards Feasibility
August 27 2020 - 4:30PM
Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY |
OTC: ATCMF) is pleased to provide an update on the ongoing
feasibility study (the “Study”) on the La Plata project (“the
Project”) while pursuing its 2020 and 2021 exploration programs.
The Project has strong support from the Government of Ecuador as
part of the “second generation” priority projects necessary for the
nation’s economic development.
Atico is also pleased to inform that it has
hired G Mining Services, with offices in Canada and Ecuador to
assist Atico’s internal team in the review and optimization of the
La Plata project. For the second half of 2020, the Company will be
advancing on the metallurgy, process design and general
infrastructures of the Feasibility Study for the La Plata project
with the goal to deliver the Study by early 2022. It is important
to note that some sections of the Study are to be coordinated for
later in 2021 due to restrictions caused by the COVID-19
pandemic.
The Company will be integrating the recent
high-grade drilling results along with updated industry consensus
of the commodity prices while presently advancing on the
engineering allowing a precise evaluation of the La Plata project.
As in-fill and exploration drilling continue for the rest of the
year with two drill rigs located at La Plata, Atico has been
reassigning some of the engineers from its El Roble development
team to assist in the optimization of the La Plata project. The
Atico’s internal development team and network of consultants (“the
engineering group”) have been very efficient in the transformation
of the El Roble mine from a 350 tpd small scale operation to a
modern 1,000 tpd operation. The successful expansion of the El
Roble processing plant resulted in improving recoveries of the
treated ore, decreasing operating costs while also operating with
high standards.
Fernando E. Ganoza, CEO and Director, commented:
“The team we have assembled is quite impressive. Through the years,
Atico has developed a successful track record and an extensive
network of consultants to which we are adding the G Mining Services
group who recently demonstrated their local expertise in
Ecuador. With the addition of international experts who have
on-the-ground knowledge in Ecuador, we are confident that this will
maximize value of the project while maintaining Atico’s vision to
operate with high standards. “
About G Mining
G Mining Services is a specialized mining
consultancy firm based in Canada. Entrepreneurial minded and
multidisciplinary company that offers a wide range of services to
both underground and open pit mining projects from greenfield to
operating mines. The firm possesses the rare capabilities to
develop a resource from the exploration phase, to development, into
construction, commissioning and then operations. Integrating with
the client’s team to self-perform project development, hence to
build fit-for-purpose and cost effectively. G Mining’s multilingual
team can operate in English, French and Spanish speaking countries.
most recently, G Mining lead the construction of Lundin Gold’s
Furta Del Norte Project in Ecuador, which was delivered on time and
budget in November 2019.
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 it’s 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. GanozaCEOAtico Mining
Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor RelationsIgor DutinaTel:
+1.604.633.9022
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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 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 meeting
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.
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