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Atico Mining Produces 2.91 Million Pounds of Cu and 2,055 Ounces of Au in Third Quarter 2024
VANCOUVER, British Columbia, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its ope
About this update from Atico Mining Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 24, 2024 (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, 2024 from its El Roble mine. Production for the quarter totaled 2.91 million pounds of copper and 2,055 ounces of gold in concentrates, a decrease of 23% for copper and 19% for gold, respectively, over the same period in 2023. “The El Roble mine is undergoing a transition from the lower areas of the mine towards the new higher-grade reserves in upper areas. The mine is being prepared to shift to a majority of ore being sourced from the new reserves in 2025. The transition implies a planned reduction in production rates, resulting in fewer tonnes of ore mined and processed, as well as lower head grades during this period. We expect this phase to conclude in the fourth quarter, allowing our operations team gradual access to newly discovered high-grade reserves,” stated Fernando E. Ganoza, CEO. “As we move into the remainder of the year, our primary focus will be on achieving a steady state production rate, while ensuring we remain on track to meet our established guidance for the year.” Third Quarter Operational Highlights Production of 2.91 million pounds of copper contained in concentrates; a decrease of 23% over Q3 2023. Production of 2,055 ounces of gold contained in concentrates; a decrease of 19% over Q3 2023. Average processed tonnes per day of 858, a decrease of 3% over Q3 2023. Copper head grade of 2.12%, a decrease of 14% over Q3 2023. Gold head grade of 1.51 grams per tonne; a decrease of 14% over Q3 2023. Copper and gold recovery of 92% and 65%; no significant change for copper and an increase of 4% for gold, respectively, over Q3 2023. Third Quarter Operational Details Q3 2024 Total Q3 2023 Total % Change Production (Contained in Concentrates) Copper (000s pounds) 2,906 3,794 -23% Gold (ounces) 2,055 2,537 -19% Mine Tonnes of ore mined 67,730 77,947 -13% Mill Tonnes processed 67,354 74,580 -10% Tonnes processed per day 858 888 -3% Copper grade (%) 2.12 2.48 -14% Gold grade (g/t) 1.51 1.75 -14% Recoveries Copper (%) 92.3 93.0 Nil Gold (%) 62.9 60.5 4% Concentrates Copper and Gold Concentrates (dm...