Atico Restarts Mining Operations at El Roble, Intercepts Massive Sulfide Extension at La Plata and Provides Exploration plans...
February 22 2021 - 8:50AM
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 program 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
16th, the Company inspected all components of the tailing pipe
system, including the relief valve systems where some components
were replaced ahead of schedule and subjected 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, the exploration team is
focused on regional exploration and 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 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 original 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. GanozaCEOAtico Mining
Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor RelationsIgor DutinaTel:
+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 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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