Business
Atico Mining Produces 5.10 Mlbs of Copper and 2,831 Ounces of Gold in Q3 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 23, 2017) - Atico Mining Corporation (the "Company" or "Atico") (TSX VENTURE:ATY) (OTC PINK:ATCMF) announces it
About this update from Atico Mining Corporation
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 23, 2017) - Atico Mining Corporation (the \"Company\" or \"Atico\") (TSX VENTURE:ATY) (OTC PINK:ATCMF) announces its operating results for the three months ended September 30, 2017 from its El Roble mine. Production for the quarter totaled 5.10 million pounds of copper and 2,831 ounces of gold in concentrates, an increase of 13% for copper and no significant change for gold over the same period in 2016. \"We are very pleased to report a strong operating quarter maintaining steady state production levels and remaining in line to reach operational objectives for 2017.\" said Fernando E. Ganoza, CEO. \"For the remainder of the year, the Company will continue focusing on the regional and mine vicinity exploration programs with rigs currently drilling on surface and underground.\" Third Quarter Operational Highlights Production of 5.10 million pounds of copper contained in concentrates; an increase of 13% over Q3 2016. Production of 2,570 ounces of gold contained in concentrates; no significant change over Q3 2016. Average processed tonnes per day of 794, an increase of 4% over Q3 2016. Copper head grade of 3.68%, an increase of 6% over Q3 2016. Gold head grade of 2.16 grams per tonne; an increase of 3% over Q3 2016. Copper and gold recovery of 94.3% and 61.8%; no significant change for copper and a decrease of 10% for gold over Q3 2016. Third Quarter Operational Review Processed ore was in line with Company budget for the third quarter. The increase in higher copper output for the quarter relative to Q3-2016 is explained by a higher copper head grade. In the case for gold production, the output was in line with Company budget with no significant change over Q3-2016. Copper recoveries maintained their high comparable to the same period last year, while gold recoveries during the quarter were in line with Company projections. Gold recovery decreased as expected driven by a 10% increase in the copper content in the concentrate to 21.90% (19.96% in Q3-2016). This increase in the copper content in the concentrate provides a net economic benefit offsetting the resulting decrease in gold recovery. The Company will continue to explore increasing the copper content in the concentrate in the following quarters while increasing the gold recovery. The operation remains on track to deliver on set ...