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Atico Mining Produces 3.73 Million Pounds of Cu and 2,874 Ounces of Au in Second Quarter 2024
VANCOUVER, British Columbia, July 18, 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, July 18, 2024 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended June 30, 2024 from its El Roble mine. Production for the quarter totaled 3.73 million pounds of copper and 2,874 ounces of gold in concentrates, an increase of 33% for copper and 25% for gold, respectively, over the same period in 2023. “The El Roble mine continued to operate within set expectations for this quarter as we saw improvements in most metrics over the previous quarter and especially over the same period last year” said Fernando E. Ganoza, CEO. “In the second half of the year, we are anticipating a continuation of good production results as we gain further access to the newly discovered areas of high-grade ore. In parallel, we will continue looking for opportunities to improve metal output to take advantage of the higher metal price environment, as well as the continuation of the near mine exploration program aimed at replenishing resources and extending the life of mine.” Second Quarter Operational Highlights Production of 3.73 million pounds of copper contained in concentrates; an increase of 33% over Q2 2023. Production of 2,874 ounces of gold contained in concentrates; an increase of 25% over Q2 2023. Average processed tonnes per day of 852, an increase of 7% over Q2 2023. Copper head grade of 2.59%, an increase of 27% over Q2 2023. Gold head grade of 1.94 grams per tonne; an increase of 9% over Q2 2023. Copper and gold recovery of 92% and 65%; an increase of 1% for copper and 11% for gold, respectively, over Q2 2023. Second Quarter Concentrate Shipment The Company had scheduled one large concentrate shipment of around 9,100 dry metric tonnes for this period. Due to poor weather conditions and shipping delays, the vessel had arrived considerably later than scheduled and as a result approximately 60% of the planned tonnes of concentrate were loaded by the June 30th cutoff date. The remaining 40% of the planned second quarter shipment was loaded on the following two days. In accordance with our accounting policies, the revenue derived from tonnes loaded after June 30th will be recognized in the subsequent quarter along with the expected revenue from the shipment planned for the third quarter. Therefore, the second qu...