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Atico Produces 5.48 Million Pounds of Cu and 2,825 Ounces of Au in First Quarter 2018
VANCOUVER, British Columbia, April 26, 2018 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX-V:ATY) (OTC:ATCMF) announces its operat
About this update from Atico Mining Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, April 26, 2018 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX-V:ATY) (OTC:ATCMF) announces its operating results for the three months ended March 31, 2018 from its El Roble mine. Production for the quarter totaled 5.48 million pounds of copper and 2,825 ounces of gold in concentrates, an increase of 9% and 11% for copper and gold, respectively, over the same period in 2017. “We are very pleased to report our strongest operating quarter to date while maintaining steady state production levels and a robust start towards our 2018 operational objectives” 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.” First Quarter Operational Highlights Production of 5.48 million pounds of copper contained in concentrates; an increase of 9% over Q1 2017. Production of 2,825 ounces of gold contained in concentrates; an increase of 11% over Q1 2017. Average processed tonnes per day of 812, no significant change over Q1 2017. Copper head grade of 3.80%, a decrease of 2% over Q1 2017. Gold head grade of 2.03 grams per tonne; an increase of 6% over Q1 2017. Copper and gold recovery of 94.0% and 62.8%; no significant change for copper and a decrease of 5% for gold over Q1 2017. First Quarter Operational Review Processed ore was ahead of Company budget for the first quarter. The increase in higher copper and gold output for the quarter relative to Q1 2017 is mostly explained by an 11% increase in processed ore. Copper recoveries maintained their highs and slightly improved when compared to the same period last year, while gold recoveries during the quarter were in line with Company projections. Gold recovery decrease is due to an increase in the copper content in the concentrate, this increase in the copper content in the concentrate provides a net economic benefit offsetting the decrease in gold recovery. The Company will continue to explore improving the copper content in the concentrate in the following quarters while increasing the gold recovery. During the quarter the Company delivered only one concentrate shipment due to lack of vessel availability, this resulted in a significantly higher than usual concentrate ending invento...