Atico Produces 3.80 Million Pounds of Cu and 2,537 Ounces of Au in Q3 2023
VANCOUVER, British Columbia, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended September 30, 2023 from its El Roble mine. Production for the quarter totaled 3.80 million pounds of copper and 2,537 ounces of gold in concentrates.
“Production results for the period have significantly improved when compared to the first two quarters of the year as the overall operational steady state-run rate was again achieved. We anticipate stronger results to continue throughout the remainder of the year as we get back on track to deliver our 2023 production guidance” said Fernando E. Ganoza, CEO. “For the fourth quarter, we continue looking for opportunities to improve metal production and at the same time aggressively drill testing target areas in proximity to our mine. Throughout the year we have seen encouraging results in these areas and anticipate further success in the months to come.”
Third Quarter Operational Highlights
- Production of 3.80 million pounds of copper contained in concentrates; no significant change over Q3 2022.
- Production of 2,537 ounces of gold contained in concentrates; a decrease of 7% over Q3 2022.
- Average processed tonnes per day of 888, an increase of 13% over Q3 2022.
- Copper head grade of 2.48%, a decrease of 21% Q3 2022.
- Gold head grade of 1.75 grams per tonne; a decrease of 23% over Q3 2022.
- Copper and gold recovery of 93.0% and 60.5%; an increase of 2% for copper and a decrease of 3% for gold, respectively over Q3 2022.
Third Quarter Operational Details
|Q3 2023||Q3 2022||% Change|
|Production (Contained in Concentrates)|
|Copper (000s pounds)||3,794||3,753||1||%|
|Tonnes of ore mined||77,947||66,245||17||%|
|Tonnes processed per day||888||786||13||%|
|Copper grade (%)||2.48||3.12||-21||%|
|Gold grade (g/t)||1.75||2.28||-23||%|
|Copper and Gold Concentrates (dmt)||9,341||9,048||3||%|
|Payable copper produced (000s lbs)||3,567||3,525||1||%|
Note: Metal production figures are subject to adjustments based on final settlement.
The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.
|Amounts in dry metric tonnes|
|Number of shipments||1|
Note: Concentrate figures are subject to adjustments based on final surveys and final settlement of sales.
El Roble Mine
The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 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 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold, at a cut-off grade of 1.3% copper equivalent with an effective date of September 30, 2020. 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.
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 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. Ganoza
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
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.comTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
XPENG G9 Achieves a Five-Star 2023 Safety Rating from Euro NCAP6.12.2023 11:00:00 CET | Press release
The new XPENG G9, now on sale in Europe, received a five-star 2023 safety rating from Euro NCAPThis is XPENG's second five-star safety rating for an international model following the new P7 in October; and its first SUV obtained both Euro NCAP and C-NCAP five-star ratings AMSTERDAM, Dec. 06, 2023 (GLOBE NEWSWIRE) -- XPENG Motors (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announces that the international model of their flagship electric SUV, XPENG G9, has received a five-star 2023 safety rating from Euro NCAP. Euro NCAP's five-star safety rating system aims to help consumers, their families and businesses compare vehicles more easily and identify the safest choice for their needs. The tests, which replicate real-life road danger scenarios, represent the European gold standard for comprehensive automotive safety testing. The rating recognises the XPENG G9's advanced body structure and comprehensive passive s
AS Tallink Grupp: Managers’ Transactions6.12.2023 11:00:00 CET | Press release
Person subject to the notification requirement Name: AS Infortar Position: Closely associated person (X) Legal person Person Discharging Managerial Responsibilities in Issuer Name: Hanschmidt, Ain Position: Member of the Supervisory Board Name: Pant, Eve Position: Member of the Supervisory Board Issuer: AS Tallink Grupp LEI: 529900QRMWAKKR3L9W75 Notification type: Initial Notification _____________________________________ Transaction date: 04.12.2023 Venue: Nasdaq OMX Tallinn Instrument type: Share ISIN: EE3100004466 Nature of the transaction: Acquisition Transaction details: (1): Volume: 105,178; Unit price: 0.68 EUR Aggregated transactions: (2): Volume: 105,178; Volume weighted average price: 0.68 EUR Anneli Simm Investor Relations Manager AS Tallink Grupp Sadama 5 10111 Tallinn E-mail Anneli.firstname.lastname@example.org
CDR-Life Announces First Patient Dosed in Phase 1 Study with Boehringer Ingelheim Evaluating Potential Treatment for Geographic Atrophy6.12.2023 11:00:00 CET | Press release
ZÜRICH, Switzerland, Dec. 06, 2023 (GLOBE NEWSWIRE) -- CDR-Life Inc. today announced that the first patient has been dosed in the Phase 1 trial of BI 771716 for the treatment of geographic atrophy (GA). Licensed to Boehringer Ingelheim, BI 771716 is a highly specific antibody fragment of reduced size, enabling an optimized penetration through all retinal layers to the most critical target site driving GA disease pathology. The Phase 1 study (NCT06006585) is evaluating the safety, tolerability and pharmacokinetics of intravitreal single rising doses and multiple doses of BI 771716 as a potential treatment for GA. GA is a chronic and progressive, irreversible retinal disease that occurs in people with late-stage dry age-related macular degeneration (AMD) impacting the ability to see. More than 5 million people worldwide suffer from GA, of which more than 40% are legally blind. GA worsens with age, affecting 1 in 29 people above the age of 75 and 1 in 4 people above 90. Consequently, risi
ForFarmers N.V.: Approval competition authority for the acquisition of Piast Pasze Sp. z.o.o.6.12.2023 10:30:00 CET | Press release
Lochem, 6 December 2023 Approval competition authority for the acquisition of Piast Pasze Sp. z.o.o. Today, ForFarmers received approval from the Polish competition authority to acquire Piast Pasze Sp. z.o.o. ("Piast"). With this transaction, announced on 25 July 2023, ForFarmers/Tasomix's volume in Poland will expand by 410,000 tonnes, strengthening its position in the broiler sector in particular. Parties will work towards a closing of the acquisition. This transaction is in line with ForFarmers/Tasomix's strategic objectives to expand in the attractive Polish agricultural market. This press release contains information that qualifies as inside information within the meaning of Article 7 paragraph 1 of the EU Market Abuse Regulation. Note to the editor / For further information: Floor van Maaren, T: 06-29597746 Paweł Świerkula, Managing Director ForFarmers/Tasomix M + 48 510 22 00 22 • E: email@example.com About ForFarmers ForFarmers N.V. is an international organisation tha
Resultat af auktion over 1,75 pct. Danske Stat 2025 og 2,25 pct. Danske Stat 20336.12.2023 10:26:31 CET | pressemeddelelse
Bud, salg, skæringspris, pro rata og effektiv rente fremgår af nedenstående oversigt: ISINBud mio. kr. (nominelt)SalgSkæringskursPro-rataEffektiv rente, pct. p.a.99 23138 1,75% 15/11/20251.8601.10098,34100 %2,6499 24532 2,25% 15/11/2033300 300 97,80100 %2,50I alt2.1601.400 Salget bliver afviklet den 8. december 2023.