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2021-07-22

Atico Produces 4.46 Million Pounds of Cu and 2,732 Ounces of Au in Second Quarter 2021 and Provides Corporate Update

VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended June 30, 2021 from its El Roble mine. Production for the quarter totaled 4.46 million pounds of copper and 2,732 ounces of gold in concentrates, a decrease of 10% for copper and no significant change for gold, over the same period in 2020.

“The El Roble mine performed within expectations in almost all metrics despite a very challenging in country situation cause by unprecedented protests along with extreme weather conditions during this period. So far in the third quarter we are seeing an improvement in country and will continue to closely monitor all developments,” said Fernando E. Ganoza, CEO. “For the second half of the year, we will continue to look for opportunities to further optimize the operation while aiming to deliver on guidance. At the current metal price environment, the Company anticipates robust financials for the second half of the year.”

Second Quarter Operational Highlights

  • Production of 4.46 million pounds of copper contained in concentrates; a decrease of 10% over Q2 2020.
  • Production of 2,732 ounces of gold contained in concentrates; no significant change over Q2 2020.
  • Average processed tonnes per day of 892, no significant change over Q2 2020.
  • Copper head grade of 3.20%, a decrease of 5% over Q2 2020.
  • Gold head grade of 2.01 grams per tonne; no significant change over Q2 2020.
  • Copper and gold recovery of 92.4% and 56.9%; no significant change for copper and an increase of 6% for gold over Q2 2020.

Second Quarter Operational Review

Overall production was in line with Company budget for the second quarter despite extreme weather conditions resulting in less than expected processed tonnes. The decrease in copper production is mainly explained by the decrease in processed ore along with a slight decrease in head grade over the same period last year. The gold output slightly improved due to an improvement in gold recovery relative to Q2-2020. The operation remains on track to deliver on set guidance throughout the remainder of the year.

The Company continues to closely monitor developments around the COVID-19 pandemic and continues to maintain strict preventative measures at the El Roble mine site, La Plata project, as well as our corporate offices to safeguard the health of its employees, while continuing to operate effectively and responsibly in its communities.

Second Quarter Operational Details

 Q2 2021
Total
Q2 2020
Total
% Change
Production (Contained in Concentrates)   
Copper (000s pounds)4,4624,952-10%
Gold (ounces)2,7322,733Nil
Mine   
Tonnes of ore mined71,43676,825-7%
Mill   
Tonnes processed68,23871,804-5%
Tonnes processed per day892903-1%
Copper grade (%)3.203.38-5%
Gold grade (g/t)2.012.02Nil
Recoveries   
Författare GlobeNewswire

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