Ambassador of Canada and Governor of Cotopaxi Province visit Atico Mining’s La Plata Project in Ecuador prior to the Public Consultation
June 14 2023 - 4:30PM
Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY |
OTC: ATCMF) is pleased to announce that prior to the commencement
of the Public Consultation on the La Plata project in Ecuador, the
Canadian Ambassador to Ecuador, his Excellency Stephen Potter, and
Tania Vasquez, Governor of Cotopaxi province, (“the Delegation”)
have reiterated their support for the La Plata Project, a project
wholly owned by Atico Mining Corporation. The Delegation had the
opportunity to witness the project's commitment to social and
environmental initiatives, which align with Canadian core values.
The visit, coupled with the recent decree from the President of
Ecuador, signifies a promising trajectory for the project, paving
the path for construction in the near future.
During their visit, both the Ambassador and the
Governor observed the project's readiness to initiate public
hearings and acknowledged the strong local community support for
the project. The La Plata project has successfully implemented
itself in the regional economy creating a broader economic
ecosystem, serving as a catalyst for various formal activities and
positively transforming the whole region.
Expressing his satisfaction, Ambassador Potter,
stated, “Canada is a mining hub promoting good practices in
environment and all social aspects integrated in the mining
industry.” Mr. Potter continued, “today we had the opportunity to
witness the exceptional hospitality of the community of Palo
Quemado and their strong commitment to building a better
future.”
The Delegation was delighted to witness the
successful agricultural projects organized by regional associations
in partnership with Atico. Additionally, they were invited to
inaugurate the recently refurbished potable water system. This
collaborative project, overseen by the Water Authorities of Palo
Quemado, involved complete reconstruction of several key components
of the water system. Atico was proud to maternally contribute to
this public and private endeavor as this project will be providing
water access to hundreds of residents in the communities of Palo
Quemado and Santa Rosa, where most of the Company's employees
reside.
Atico Mining’s success and culture are based on
investing in sustainable development in communities where it
operates through responsible mining with a tremendous emphasis on
the surrounding environment.
La Plata Project
Gold-bearing sulphide mineralization at La Plata
occurs as compositional banding composed of chalcopyrite,
sphalerite and pyrite laminae with barite occurring as clasts and
also as layers. The mineralised lenses have also been dislocated by
a few faults and dolerite dikes cutting the body.
The La Plata project is amongst the
highest-grade gold-copper VMS deposits in which base and precious
metal mineralization is interpreted to have formed as part of
multiple volcanic episodes that created a stacked volcanic-exhalite
hydrothermal sequence considered favorable for hosting additional
VMS lenses. The recent drilling results in the southern portion of
the deposit have encountered deeper mineralisation, and an
extension of mineralisation to the north has been discovered by
recent trenching results.
The La Plata independent Preliminary Economic
Assessment (“PEA”) dated March 30th 2019, was prepared pursuant to
National Instrument 43-101 (“NI 43-101”) and reports the La Plata
inferred resources at 1.9 million tons at an average grade of 4.1
g/t Au, 49.4g/t silver, 3.3% Cu, 4.5% Zn, 0.6% Pb as available on
SEDAR.
The La Plata project consists of two concessions
covering a total area of 2,300 hectares along its 9-kilometer
length, which contains known mineralization in two VMS lenses and
nine priority exploration targets.
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 | OTCQX: 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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