Business
Atico Mining Reports 2020 Fourth Quarter and Full Year Production Results
VANCOUVER, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to annou
About this update from Atico Mining Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to announce operating results for the three and twelve month periods ended December 31, 2020 from its El Roble mine. Production totaled 5.22 million pounds of copper with 2,809 ounces of gold for the fourth quarter (“Q4 2020”) and 20.66 million pounds of copper with 10,792 ounces of gold in concentrates for the full year 2020. “First and foremost, I would like to commend and extend appreciation to all of our employees for their hard work and dedication as we continued to operate safely during these extremely challenging circumstances,” said Fernando E. Ganoza, CEO. “The Company delivered strong production results for the year, achieving the set production guidance despite having to navigate stringent COVID-19 restrictions. We are anticipating that these results along with selling the majority of the scheduled concentrate inventory will lead to strong revenues for the fourth quarter and robust financials for year-end 2020. In the upcoming year, we will continue aggressive exploration at El Roble and La Plata properties to unlock value of the respective land packages while working towards achieving operational guidance for 2021.” Fourth Quarter and Full Year Operational Highlights Fourth Quarter Production of 5.22 million pounds of copper contained in concentrates; a decrease of 7% over Q4 2019. Production of 2,809 ounces of gold contained in concentrates; a decrease of 20% over Q4 2019. Average processed tonnes per day of 870; no significant change over Q4 2019. Copper and gold head grades of 3.52% and 2.00 grams per tonne; a decrease of 2.5% for copper and a decrease of 19% for gold over Q4 2019. Copper and gold recovery of 91.5% and 59.5%; no significant change over Q4 2019. 2020 Year-end Production of 20.66 million pounds of copper contained in concentrates; an increase of 23% over 2019. Production of 10,792 ounces of gold contained in concentrates; an increase of 3% over 2019. Average processed tonnes per day of 871; an increase of 1.9% over 2019. Copper and gold head grades of 3.49% and 2.35 grams per tonne; no significant change for copper and a decrease of 15% for gold over 2019. Copper and gold recovery of 92.0% and 58.5%; no significant change over Q4 2019. Fourth Quarte...