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Atico Reports High Grade Intercepts up to 4.45m of 5.17% Cu, 10.47g/t Au and 4.90m of 9.35% Cu, 2.94 g/t Au and Continues to Extend the Ore Body at El Roble Mine in Colombia

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Atico Reports High Grade Intercepts up to 4.45m of 5.17% Cu, 10.47g/t Au and 4.90m of 9.35% Cu, 2.94 g/t Au and Continues to Extend the Ore Body at El Roble Mine in Colombia

 

 

 

 

 

Atico Mining Corporation (TSX-V: ATY) (OTCQX: ATCMF) is pleased to announce additional positive results for the exploration program initiated in 2023 being carried out in an area of historical mining to expand tonnage at the El Roble mine. In addition, the Company reports the results for seven diamond drill core holes (see first table below), which included 4.45m of 5.17% Cu, 10.47g/t Au and 4.90m of 9.35% Cu, 2.94 g/t Au.

 

“We are pleased to report that our mine vicinity drill campaign continues to intercept new mineralization and extend the main historic massive sulphide body at the El Roble deposit. While, this area was mined by operators previous to Atico obtaining control of the mine on November 22, 2013, these results are intercepting additional high-grade mineralization beyond the previously outlined mineralized shell which remains open at depth and along strike,” said Fernando E. Ganoza, CEO. “These strong assay results continue to increase confidence in our view that additional high-grade copper and gold mineralization remains both within the historically defined bodies and beyond the previously outlined mineralized shell and are open at depth and along strike. Final results for the remaining drill holes from the current exploration program initiated in 2023 will be available within following weeks at which time the Company plans to update the resource estimate. A new drill program is planned to continue exploration in this vicinity during 2024.”

 

Exploration Drilling Results Include:

 

Hole From (m) To (m) Interval (m) Cu (%) Au (g/t)
ATD-0206 163.5 189.45 25.95 2.09 3.43
including 168 170.2 2.2 11.58 8.63
including 173.1 181.5 8.4 0.57 2.52
including 185 189.45 4.45 5.17 10.47
and 192.25 193.1 0.85 7.57 4.62
ATD-0207 133 144.6 11.6 4.14 1.38
including 136 140.9 4.9 9.35 2.94
and 156.5 159.7 3.2 1.78 7.86
ATD-0208 186.8 199.3 12.5 0.98 4.35
including 186.8 191.4 4.6 1.96 9.27
ATD-0209 189.4 206.5 17.1 1.15 1.94
ATD-0210 159 171.3 12.3 1.11 1.33
ATD-0211 34.1 44.9 10.8 4.39 1.29
including 35.5 37.2 1.7 8.46 1.43
including 39.3 44.9 5.6 5.33 1.91
ATD-0212 22 40.5 18.5 2.29 1.05
including 22 25 3 8.24 3.7
including 27.1 29.6 2.5 2.51 1.09
including 37.5 39.1 1.6 2.34 1.09

True widths are dependent on uncertainties in the local strike and dip of the mineralization and are estimated to be between 90% and 95% of the drill intercept.

 

Image 1.

 

 

Exploration Drilling Program

 

The goal of the current surface and underground drilling program at the El Roble mine is to define zones of mineralization within the extent of main historic massive sulphide body that were not exploited by previous operators and also to expand the historically identified resource. During the first quarter of 2023, the Company began a drill program to test the main mineralized body and the immediately adjacent area. A total of 7,880 meters of drilling were completed during this program, of which final results for the remaining drill holes are still pending and will be reported as soon as the assay results for mineralized intercepts are received.

 

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.

 

Qualified Person

 

Garth Graves, P. Geo.

 

Garth Graves, P. Geo., consultant geologist for Atico Mining Corporation and a qualified person in accordance with National Instrument 43-101 has reviewed and approved the technical information contained in 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.

 

Posted February 5, 2024

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