VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2017) - Atico Mining Corporation (TSX VENTURE:ATY) (OTC PINK:ATCMF) ("Atico" or the "Company") is pleased to announce preliminary results of a 15 holes, 2863 meter drill program (ATDHAR-05 to ATDHAR-19) that tested a 450 meter strike length between the northern end of the El Roble mine and a historical intersection of massive sulfide mineralization at Archie target.
Results from holes ATDHAR-05, ATDHAR-08, ATDHAR-09 & ATDHAR-10 have been received, while results from the remaining holes ATDHAR-06, ATDHAR-07, ATDHAR-11 to ATDHAR-19 are pending. Data from drill holes ATDHAR-01 to ATDHAR-04, referred to below have been reported in a previous news release dated June 26, 2013.
Fernando E. Ganoza, CEO, commented: "Intercepting a copper-rich massive sulfide fragment at the Archie target, just north of El Roble Mine, along with the newly discovered geological indications has made this site a near term priority. We will continue assessing the Archie information as it becomes available to delineate the next phase of drilling while also continuing the preparation of additional targets."
Regional Exploration Drilling Update
The highlight of the drill program was an intersection of 2.8 meters of copper-rich massive sulfide from 18 meters in hole ATDHAR-09. The intercept assayed 2.39 % Cu, 1.69 g/t Au and 6.5 g/t Ag. Hole ATDHAR-05 intersected 3.3 meters of 1.00% Cu, 0.88 g/t Au and 3.9 g/t Ag from 2.2 meters. Hole ATDHAR-08 intersected 3 meters of 1.17% Cu, 2.24 g/t Au, 6.59 g/t Ag from 157.2 meters. Hole ATDHAR-10 intersected 5.5 meters of 1.27% Cu, 0.17 g/t Au and 6.66 g/t Ag from 2.5 meters. Holes ATDHAR-03, ATDHAR-04 and ATDHAR-09 encountered "black chert", the favorable host horizon, strongly anomalous in silver at depth some 280 meters north of the Zeus mineralization. Likewise silver is strongly anomalous near the top of hole ATDHAR-02. Geochemically anomalous silver has been shown to form a halo around massive sulfide mineralization.
The drill program has significantly clarified the geology of the area between the El Roble mine and the Archie target. A sub-vertical fault filled by andesitic dykes north of the Zeus mineralization has been verified. North of this boundary there is a change in attitude of the prospective basalt-"black chert" contact from sub-vertical to east-dipping. Consequently any future exploration to trace the extent to the massive sulfide intercept in hole ATDHAR-09 should be directed to intersect this east-dipping contact at depth and along strike toward the El Roble Mine.
| Hole ID | From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
| ATDHAR-02 | 7.2 | 56.0 | 48.8 | nsr | Anomalous | |
| ATDHAR-03 | 239.5 | 242.0 | 2.5 | nsr | Anomalous | |
| ATDHAR-04 | 296.0 | 303.7 | 7.7 | nsr | Anomalous | |
| ATDHAR-05 | 2.2 | 5.5 | 3.3 | 1.00 | 0.88 | 3.9 |
| ATDHAR-08 | 157.2 | 160.2 | 3.0 | 1.17 | 2.24 | 6.59 |
| ATDHAR-09 | 18.0 | 20.8 | 2.8 | 2.39 | 1.69 | 6.5 |
| ATDHAR-10 | 2.5 | 8.0 | 5.5 | 1.27 | 0.17 | 6.66 |
| nsr - No Significant Result | ||||||
El Roble Mine
The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 800 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.
Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.
El Roble has a measured and indicated resource of 1.87 million tonnes grading 3.46% copper and 2.27 g/t gold, at a cut-off grade of 0.93% copper equivalent. Mineralization is open at depth and along strike and the Company plans to further test the limits of the resource.
On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.
Qualified Control
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 Mining Corporation. Dr. Pohl has approved the scientific and technical content of this news release.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com.
