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TABLE OF CONTENTS Dec 16 - 22, 2013 Volume 99 Number 44 - 0 comments

Atico steams ahead

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2013-12-11

Atico Mining (TSXV: ATY; US-OTC: ATCMF) became a producing mining company when it acquired 90% of the El Roble mine — the only producing copper mine in Colombia.

Now it’s on a mission to improve efficiency and scale up production at the underground mining operation, which over the last two decades has processed 1.5 million tonnes of ore at an average head grade of 2.5% copper, and an estimated 2.5 grams gold per tonne. 

Atico acquired the option to acquire El Roble in January 2011 and has been exploring the mine and surrounding claims ever since, completing 11,740 metres of drilling and a district-scale mapping program of the 67 sq. km property.

Its underground drill campaign uncovered more high-grade mineralization below the 2000 level — the lowest production level at the mine — and Atico completed its first resource estimate in June. Open at depth and strike, the deposit has an inferred resource of 1.6 million tonnes grading 4.45% copper and 3.17 grams gold per tonne, using a cut-off grade of 0.72% copper equivalent.

In a news release — along with announcing that it had closed a US$8-million senior secured debt-financing facility with Trafigura — the company outlined plans to operate El Roble at a 320-tonne-per-day throughput rate, while completing underground development to access the recently discovered resources.

The mill and processing facility would be upgraded — reaching a nominal daily capacity of 650 tonnes from 400 tonnes — before the company mines the newly defined resource.

Atico could finish the upgrade by next year’s third quarter, and ramp up production by next year’s fourth quarter.

Atico is building a fully permitted tailings dam, which it hopes to wrap up in 2014’s second quarter.  

Mineralization at El Roble occurs as volcanogenic massive sulphide lenses.

At press time Atico shares were trading at 58¢, within a 52-week range of 44¢ to $1.13.



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Related News
Atico completes El Roble resource
Mucho VMS for Atico in Colombia
More VMS mineralization for Atico in Colombia
Related Press Releases
Atico Produces 2.7 Million Pounds of Cu and 2,932 Ounces of Au in Third Quarter 2014
Atico Reports Consolidated Financial Results for the Second Quarter of 2014
Atico Produces 2 Million Pounds of Cu and 2,155 Ounces of Au in Second Quarter 2014
 

Photos

Atico's El Roble mine in Colombia. Credit: Atico Mining
Atico's El Roble mine in Colombia. Credit: Atico Mining

Companies in This Story

Atico Mining Corporation

Properties in This Story

El Roble Mine



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