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Atico Mining Reports Reserves of 119 Million Pounds of Copper at the El Roble Mine
VANCOUVER, British Columbia, Nov. 13, 2018 (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, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to announce the release of an updated NI 43-101 mineral resource and reserve estimate for the El Roble Mine located in Colombia. El Roble is currently in production at a rate of 850tpd and production guidance for the year is 20 million pounds of copper along with 9,850 ounces of gold in 2018. For the first three quarters of 2018, El Roble has produced 16 million pounds of copper and 8,400 ounces of gold or over 80% and 85% of annual forecast production for copper and gold respectively. “Our infill and mine vicinity exploration drilling at El Roble mine has been successful in replenishing mined resources since 2013. The maiden resource study at El Roble mine of 1.5 million tonnes of inferred resource has grown to 1.8 million tonnes of measured and indicated resources, while also having mined over 1 million tonnes of high-grade ore during the same period,” said Fernando E. Ganoza, CEO. “We will continue looking for opportunities to further extend the life of mine at El Roble while also drilling for additional massive sulphide deposits on the contiguous 6,600 hectare land package we control.” Resource and Reserve Estimate Highlights Measured and Indicated Mineral Resources are estimated at 1.80 million tonnes averaging 3.63% Cu, and 2.25 g/t Au. Proven and Probable Mineral Reserves are estimated at 1.38 million tonnes averaging 3.62 % Cu, and 2.01 g/t Au. A conversion rate of 76.7% of Measured and Indicated resources to Proven and Probable reserve categories over the current resource estimate. Inferred Mineral Resources are estimated at 0.24 million tonnes averaging 0.62 % Cu, and 4.06 g/t Au. El Roble Resource and Reserve Estimate The updated mineral resource and reserve estimate for El Roble was prepared by staff and consultants of Miner SA, an Atico Mining operating subsidiary. Mr. Thomas Kelly (SME Registered Member 1696580) has reviewed the resource and reserve estimate and acted as the independent qualified person as defined by Canadian National Instrument 43-101. The Mineral Resources and Reserves reported herein were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and...