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Atacama Copper and TCP1 Announce a Maiden Resource Estimate for the Cristina Project, Chihuahua Mexico
Vancouver, British Columbia--(Newsfile Corp. - October 30, 2023) - Atacama Copper Corporation (TS...
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[{"type":"text","content":"Atacama Copper and TCP1 Announce a Maiden Resource Estimate for the Cristina Project, Chihuahua MexicoVancouver, British Columbia--(Newsfile Corp. - October 30, 2023) - Atacama Copper Corporation (TSXV: ACOP) (\"Atacama\" or the \"Company\") and TCP1 Corporation (\"TCP1\") are pleased to report the results of a maiden mineral resource estimate (\"MRE\") at TCP1's wholly-owned Cristina polymetallic vein project in southwestern Chihuahua State, Mexico (see Figure 1). The Cristina project consists of multiple outcropping quartz veins that are frequently greater than 10 m in width, and extend for a currently known strike length of up to 5 km. At least four parallel mineralized vein structures have been mapped to date, however most of the resource estimate reported here is contained within the Guadalupe vein structure (Figure 2). Atacama and TCP1 recently announced a proposed business combination whereby the Company will acquire, directly or indirectly, all the issued and outstanding shares of TCP1 in exchange for common shares of the Company.Highlights:Indicated resources of 17.5 Mt at 0.51 g/t gold, 33.8 g/t silver, 0.47% zinc, 0.19% lead and 0.04% copper (1.33 g/t AuEq grade), for a contained 752,000 gold-equivalent ounces.Inferred resources of 19.0 Mt at 0.51 g/t gold, 27.5 g/t silver, 0.50% zinc, 0.19% lead and 0.05% copper (1.27 g/t AuEq grade), for a contained 777,000 gold-equivalent ounces.The resource estimate is based on 220 diamond drill holes completed between 2010 and 2022 for approximately 70,000 m of drilling in total.Preliminary metallurgical test work suggests recoveries into concentrate of 75-85% for gold, 85-95% for silver, 80-90% for zinc and lead, and 70-80% for Cu. The Cristina deposit is an epithermal to mesothermal vein system where the mineralisation is predominantly gold and silver, with lesser base metal values. Cristina is similar to other active mines in the region including Fresnillo's San Julian and La Cienega mines, as well as First Majestic's Tayoltita/San Dimas mine.Tim Warman, Atacama's CEO, commented \"We're extremely pleased with the maiden resource estimate for the Cristina deposit, particularly as the deposit remains open along strike and at depth, as well as in at least three other parallel mineralized veins. Once the transaction closes, we intend to continue with an aggressive drilling program...