Atico intercepts 87 meters with 3.52 % Cu and 2.7 g/t Au at El Roble mine, Colombia
03 Julio 2013 - 8:54AM
Marketwired Canada
Atico Mining Corporation (TSX VENTURE:ATY)(PINKSHEETS:ATCMF) is pleased to
report results of eight underground drill holes at El Roble mine in Colombia
which confirm the extension of mineralized boundaries along strike and down-dip
of Maximus and Goliath bodies. The latest mineralized intercepts in these
massive sulphide bodies support previously interpreted boundaries and high
copper and gold grades.
Fernando E. Ganoza, CEO, commented, "The team on the field has done a superb job
at discovering significant new resources below the 2000 meter elevation, the
lowest production level at El Roble mine. We are very excited to have been able
to extend the boundaries at depth of the Maximus body, confirm the boundaries of
Goliath and consistently intercept high grade Cu-Au mineralization while doing
so. The latest reported drill results support the recently published resource
estimate on the El Roble mine and our initial view on the size of the Maximus
and Goliath massive sulphide bodies, which will become primary targets for
mining activities below the 2000 meter elevation." Mr. Ganoza continued,
"Drilling has successfully identified massive sulphide bodies at depth, to the
north and center of the known strike length of El Roble mine. The underground
drill program will now focus on the south end of the deposit where we believe
geological potential exists to discover additional massive sulphide
mineralization."
El Roble Mine underground drilling highlights:
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Hole From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t)
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ATDHR-38 64.70 152.05 87.35 3.52 2.70 6.89
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Including 64.70 73.15 8.45 10.40 2.99 4.99
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103.65 113.80 10.15 7.61 5.59 11.16
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126.75 133.20 6.45 8.40 3.52 8.19
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ATDHR-35 112.85 128.60 15.75 6.82 1.89 8.78
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ATDHR-30 127.84 139.82 11.08 6.04 3.68 12.03
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Underground diamond drilling program
Drill holes ATDHR-30 and ATDHR-33 through ATDHR-36 tested the boundaries of the
Goliath body along strike and to the hanging-wall and footwall confirming
previously interpreted boundaries. Mineralization in Goliath has now been
extended to the north and is now interpreted as an ellipsoidal body.
Drill holes ATDHR-37 through ATDHR-39 intersected mineralization in the Maximus
body along strike and at depth. ATDHR-38 and ATDHR-39 extended mineralization 12
meters above the previous intercept. ATDHR-40 has been completed and intercepted
massive sulphide 10 meters below the known mineralization limit extending the
body down-dip extent. Assay results for ATDHR-40 are pending.
Drilling will concentrate on the south-end of the deposit to test for massive
sulphide below the 2000 meter elevation where alteration and trace element
vectors suggest that the mineralization remains open at depth and along strike
to the south.
New 1886 meter elevation adit at El Roble Mine
Maximus and Goliath's location at the center of the strike length of known
mineralization and closest to the 2000 meter elevation make them primary targets
for initiating mining activities below the current mine workings. The company
has validated the location and upgraded the design of a new adit at the 1886
meter elevation, 114 meters below current mine workings, which will provide
access to Maximus and Goliath bodies for mining activities. The new adit will
also provide a platform from which diamond drilling can intercept the newly
discovered massive sulphide bodies perpendicular to their strike direction,
which the company believes necessary to be able to estimate measured and
indicated resources.
Assay results for El Roble mine underground diamond drilling:
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Intercept
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Total
Azimuth Dip Depth From Interval Cu Au Ag
Hole ID (degrees) (degrees) (m) (m) To (m) (m) (%) (g/t) (g/t)
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ATDHR-30 10 -55 228.0 127.84 138.92 11.08 6.04 3.68 12.03
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including 127.84 131.55 3.71 9.43 2.91 11.93
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ATDHR-33 30 -55 175.1 104.20 116.95 12.75 7.22 0.86 11.54
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including 109.52 114.50 4.98 11.39 0.88 7.71
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ATDHR-34 30 -65 182.2 154.35 159.00 4.65 1.11 0.59 6.75
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158.10 159.00 0.90 3.44 1.68 8.71
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ATDHR-35 18 -58 200.7 112.85 128.60 15.75 6.82 1.89 8.78
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including 112.85 114.80 1.95 9.90 3.79 25.09
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119.35 126.05 6.70 11.87 1.31 9.01
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ATDHR-36 73 -58 193.5 126.55 129.65 3.10 1.58 2.04 5.51
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ATDHR-37 63 -75 182 57.10 76.60 19.50 1.80 5.37 14.78
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including 57.10 60.95 3.85 6.37 13.84 28.19
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ATDHR-38 25 -75 202.1 64.70 152.05 87.35 3.52 2.70 6.89
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including 64.70 73.15 8.45 10.40 2.99 4.99
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103.65 113.80 10.15 7.61 5.59 11.16
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126.75 133.20 6.45 8.40 3.52 8.19
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140.80 148.04 7.24 6.20 0.56 3.39
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ATDHR-39 351.2 -70 317.9 87.80 115.65 27.85 1.31 3.93 7.53
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including 87.80 92.40 4.60 5.73 7.69 7.85
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ATDHR-40 6.7 -78 196.9 Assays pending
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All reported holes have been drilled down dip
Holes ATDHR 31a, ATDHR31b and ATDHR 32 failed due to ground conditions and
did not reach their target area
El Roble Property
The El Roble property is the site of an operating underground copper and gold
mine with nominal capacity of 400 tonnes per day. Over the past 22 years the
mine has processed 1.5 million tonnes of ore at an average grade of 2.5% copper
and an estimated 2.5 g/t gold. Copper and gold mineralization at El Roble occurs
as volcanogenic massive sulfide (VMS) lenses. Atico's underground drilling has
discovered additional high-grade mineralization below the mine workings.
Exploration on the surrounding 6,679 ha property over the past two years has
defined a productive contact and an enclosing package of host rocks that extend
10 kilometers across the property. The entire strike length is marked by VMS
mineralization occurrence indicators.
Quality Assurance & Quality Control
Following detailed geological and geotechnical logging, drill core samples are
split on-site with a diamond saw by Atico personnel. The 7 to 10 kilograms per
meter of sample are submitted to the ALS Chemex laboratory in Medellin where
they are dried, crushed and pulverized. After preparation, the samples are sent
to ALS Chemex in Lima and assayed. The remaining half core sample is retained
on-site for verification and reference purposes. All gold assays were obtained
by standard 50 gram fire assay with AA finish. All copper and silver assays
reported were obtained by aqua-regia sample dissolution of the sample followed
by ICP analysis. The QA-QC program includes the blind insertion of certified
reference standards as well as assay blanks and duplicates at a frequency of
approximately one per 15 samples.
Qualified Person
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified person under NI
43-101 standards and independent of the company, is responsible for ensuring
that the information contained in this news release is an accurate summary of
the original reports and data provided to or developed by Atico.
Atico Mining Corporation
Atico is a growth oriented, copper and gold exploration and development company
focused on mining opportunities in Latin America. The company's primary property
is the El Roble project. The company is selectively pursuing additional
acquisition opportunities. For more information, please visit our website at
www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO, Atico Mining Corporation
Trading symbols: (TSX VENTURE:ATY)(PINKSHEETS:ATCMF)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the
contents of this news release. The securities being offered have not been, and
will not be, registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws, and may not
be offered or sold in the United States, or to, or for the account or benefit
of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is for information
purposes only and does not constitute an offer to sell or a solicitation of an
offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain "forward-looking statements" within the
meaning of Canadian securities legislation. All statements, other than
statements of historical fact, included herein, without limitation the use of
net proceeds, are forward-looking statements. Forward- looking statements
involve various risks and uncertainties and are based on certain factors and
assumptions. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations include
uncertainties relating to interpretation of drill results and the geology,
continuity and grade of mineral deposits; uncertainty of estimates of capital
and operating costs; the need to obtain additional financing to maintain its
interest in and/or explore and develop the Company's mineral projects;
uncertainty of meeting anticipated program milestones for the Company's mineral
projects; and other risks and uncertainties disclosed under the heading "Risk
Factors" in the prospectus of the Company dated March 2, 2012 filed with the
Canadian securities regulatory authorities on the SEDAR website at
www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Atico Mining Corporation
Investor Relations
Igor Dutina
+1.604.633.9022
www.aticomining.com
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