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Atico Produces 4.43 Million Pounds of Cu and 2,952 Ounces of Au in Q3 2021

VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF)…

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VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended September 30, 2021 from its El Roble mine. Production for the quarter totaled 4.43 million pounds of copper and 2,952 ounces of gold in concentrates, a decrease of 20% for copper and an increase of 19% for gold over the same period in 2020.

“The production results for the quarter, particularly for copper were slightly below our 2021 objectives while the mined and processed tonnes are back on track after a challenging first half of the year. The decrease in copper is mainly driven by a lower head grade, partially expected in the mine plan for the period although expected to improve in the last quarter of the year,” said Fernando E. Ganoza, CEO. “We will continue looking for opportunities to improve metal production in the fourth quarter, with the primary goal of delivering our 2021 production guidance while operations still remain on track for record revenues in the second half of the year.”

Third Quarter Operational Highlights

  • Production of 4.43 million pounds of copper contained in concentrates; a decrease of 20% over Q3 2020.
  • Production of 2,952 ounces of gold contained in concentrates; an increase of 19% over Q3 2020.
  • Average processed tonnes per day of 919, an increase of 7% over Q3 2020.
  • Copper head grade of 2.77%, a decrease of 26% over Q3 2020.
  • Gold head grade of 1.98 grams per tonne; an increase of 2% over Q3 2020.
  • Copper and gold recovery of 93.2% and 59.7%; an increase of 2% and 6% for copper and gold, respectively over Q3 2020.

Third Quarter Operational Review

Overall production was in line with Company budget for the third quarter. The decrease in copper production is mainly explained by the decrease in head grade, partially offset by improved recoveries and an increase in processed tonnes over the same period last year. The gold output slightly improved due to an improvement in gold head grade, recovery and an increase in processed tonnes relative to Q3-2020. The inverse relationship between copper and gold head grades production during this period is explained by the current mining sequence of the orebody. During this period last year, we were mining higher grade base metal areas which typically have lower precious metal content, while during this period we mined lower base metal grade areas with higher precious metal content.

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.

Third Quarter Operational Details

  Q3 2021 Q3 2020 % Change
Production (Contained in Concentrates)      
Copper (000s pounds) 4,435 5,550 -20 %
Gold (ounces) 2,952 2,487 19 %
Mine      
Tonnes of ore mined 76,276 71,993 6 %
Mill      
Tonnes processed 77,816 73,603 6 %
Tonnes processed per day 919 860 7 %
Copper grade (%) 2.77 3.74 -26 %
Gold grade (g/t) 1.98 1.93 2 %
Recoveries      
Copper (%) 93.2 91.4 2 %
Gold (%) 59.7 56.3 6 %
Concentrates      
Copper and Gold Concentrates (dmt) 10,703 11,957 10 %
       
Payable copper produced (000s lbs) 4,175 5,263 -20 %
  Note: Metal production figures are subject to adjustments based on final settlement.  
   

Concentrate Inventory

The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.

  Q3 2021
Amounts in dry metric tonnes  
Opening inventory 7,084
Production 10,703
Sales 16,184
Number of shipments
Adjustments
2
24
Closing inventory 1,621
  Note: Concentrate figures are subject to adjustments based on final surveys and final settlement of sales.
 

El Roble Mine

The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 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 Proven and Probable reserves of 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold, at a cut-off grade of 1.3% copper equivalent with an effective date of September 30, 2020. Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit. 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 Person

Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.

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 generates significant cash flow through the operation of the El Roble mine and is developing it’s high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.

ON BEHALF OF THE BOARD

Fernando E. Ganoza
CEO
Atico Mining Corporation

Trading symbols: TSX.V: ATY | OTCQX: ATCMF

Investor Relations
Igor Dutina
Tel: +1.604.633.9022

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; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; 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.





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CSE Bulletin: Suspensions (MJRX, AVBT, XRA, GOH, FUZN, BYT)

Toronto, Ontario–(Newsfile Corp. – le 6 décembre/December 2021) Effective immediately, the following companies are suspended pursuant to CSE Policy…

Toronto, Ontario–(Newsfile Corp. – le 6 décembre/December 2021) Effective immediately, the following companies are suspended pursuant to CSE Policy 3. The suspensions are considered Regulatory Halts as defined in National Instrument 23-101 Trading Rules. Cease Trade Orders have been issued by one or more securities commissions.

For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca

_________________________________

En vigueur immédiatement, les sociétés suivantes sont suspendues conformément à la politique 3 du CSE. Les suspensions sont considérées comme des arrêts réglementaires au sens du Règlement 23-101 sur les règles de négociation. Un ordre d’interdiction d’opérations a été émis par une ou plusieurs commissions des valeurs mobilières.

Pour en savoir plus sur les ordonnances d’interdiction d’opérations, visitez la base de données des ordonnances d’interdiction d’opérations des Autorités canadiennes en valeurs mobilières à www.securities-administrators.ca

Company Name/

Nom de la compagnie

Symbol/

Symbole

Securities Commission/

Commission des Valeurs Mobilières

Global Health Clinics Ltd.

MJRX

British Columbia Securities Commission and Ontario Securities Commission

Avisa Diagnostics Inc. AVBT

Ontario Securities Commission

XRApplied Technologies Inc. XRA British Columbia Securities Commission and Ontario Securities Commission
GoldHaven Resources Corp. GOH British Columbia Securities Commission and Ontario Securities Commission
High Fusion Inc. FUZN Ontario Securities Commission
BYT Holdings Inc. BYT British Columbia Securities Commission and Ontario Securities Commission

 

If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: [email protected]

Si vous avez des questions ou si vous avez besoin d’informations supplémentaires, veuillez contacter le service des inscriptions au 416 367-7340 ou par courriel l’adresse: [email protected]




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Tarku Closes $750,000 Private Placement Financing

MONTREAL, QC / ACCESSWIRE / December 6, 2021 / Tarku Resources Ltd (TSXV:TKU)( FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") announces that it has closed…

MONTREAL, QC / ACCESSWIRE / December 6, 2021 / Tarku Resources Ltd (TSXV:TKU)( FRA:7TK)(OTCQB:TRKUF) (the “Company” or “Tarku”) announces that it has closed on December 3rd, 2021, a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of $750,000. This Private Placement is comprised of 7,500,000 Flow-Through Shares of the Company at a price of $0.10 per share.

In addition, the Company expects closing a second Private Placement before December 17, 2021, that will consist of a maximum 2,500,000 units at a price of $0.10 per unit, for a maximum of $250,000. Each unit will consist of one common share and one-half (1/2) common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share at a price of $0.15 per common share for a period of 24 months after the closing.

All securities issued pursuant to the Private Placement will be legended with a hold period of four (4) months and one day from the date of issuance. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The Company paid finder’s fees in a cash commission equal to 7% of aggregate proceeds from the sale of Units sourced by the finder totaling $38,500, as well as finder’s warrants (the “Finder’s Warrants”) in an amount of 385,000 which is equal to 7% of the aggregate number of Units sourced by the finder pursuant to the Private Placement. Each Finder’s Warrant is exercisable to purchase one Common Share at an exercise price of $0.15 until December 3rd, 2023.

The net proceeds of the Private Placement will be used to fund the Company’s precious metals exploration projects in Quebec (Apollo, Atlas Apollo and Admiral). The Private Placement has been conditionally accepted by the TSX Venture Exchange.

About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK – OTCBQ: TRKUF)

Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A‘s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.

Tarku Contact Information:

Email: [email protected]
Website: www.tarkuresources.com

Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram.

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

SOURCE: Tarku Resources ltd.

View source version on accesswire.com:
https://www.accesswire.com/675814/Tarku-Closes-750000-Private-Placement-Financing





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West Oak Gold Corp. Discovers New Targets at Hedgehog; Samples Include 0.22% Copper in Soils, Claim Block Expanded

Vancouver, B.C. – TheNewswire – Dec 6, 2021 – Eastfield Resources Ltd. (TSXV:ETF) (OTC:ETFLF) (“Eastfield”) and West Oak Gold Corp. (CSE:WO) (“West…

Vancouver, B.C. – TheNewswire – Dec 6, 2021 – Eastfield Resources Ltd. (TSXV:ETF) (OTC:ETFLF) (“Eastfield”) and West Oak Gold Corp. (CSE:WO) (“West Oak”) are pleased to provide an update on 2021 exploration completed at the Hedgehog project (located near Barkerville, BC).

 

Highlights of the current work include a multitude of sporadic single point anomalous occurrences of gold, copper, zinc and arsenic and a cohesive cluster of anomalous arsenic and lead values (250 m in length, width unknown) on the southeast edge of the 2021 grid that compelled Eastfield to stake additional ground to expand the claim group by staking 1,000 meters to the east.   Single point soil anomalies reach 819 ppb gold, 444 ppm arsenic and 2,210 ppm copper (0.22%). The company is particularly intrigued by soil sample L899E, 8775N with 2,210 ppm copper and 8.45% iron.  Interest in this sample is is inspired by previous float samples collected further south on the property including a massive sulfide boulder grading 24.3% copper and 19.6 g/t silver collected in 1999 and five chalcopyrite rich massive boulders with an average grade of 8.0% copper, 8.9 g/t silver collected by Hudson Bay Exploration and Development in 2000 (as reported in their report filed with the BC Ministry of Mines).

 

In 2013, Eastfield discovered the Golden Sky showing, a new area of mineralization in the northern region of the claims where quartz veins hosted in sheared rhyolite returned grab samples to 1.51 g/t gold, 1.37% zinc, 0.48% lead, 1,203 ppm arsenic and 1,313 ppm antimony. A small soil grid was established at Golden Sky in 2014 but no follow up or further work was completed until 2021 (the current program) when 596 soil and rock samples were collected.

The Hedgehog Project is located approximately 12 kilometers north of the community of Barkerville, BC. Exploration models at Hedgehog include lode gold and (“Cyprus Style”) massive sulfides with most historic work having taken place for the latter.  No follow up of this year’s anomaly has yet been attempted.  Other companies active in the area include Osisko Gold Royalties Ltd.) (TSX: OR) who are currently conducting a major exploration program for gold ten kilometers to the south in and around the former operating Barkerville  Mine (the Cariboo Gold Project).

 

West Oak Gold Corp. may earn a 60% interest in the Hedgehog property by completing $1,750,000 in exploration and making $377,500 in cash and or share payments by the fourth anniversary.

 

This news release has been reviewed by J.W. Morton P.Geo who is the Qualified Person within the context of NI43-101 and who takes responsibility for its content.    

J.W. Morton, P. Geo.

President and CEO

  

Contact:        (604) 681-7913 or Toll Free: 888-656-6611

 

About Eastfield Resources:

Eastfield Resources is a well-funded Canadian mineral exploration company focused on the discovery of precious metal and copper deposits. Eastfield also holds a strategic position in Consolidated Woodjam Copper consisting of approximately 10% of its outstanding shares.  A summary of active projects is as follows:

 

Zymo: copper-gold porphyry, located 70 km west of Smithers, BC and 100% owned. Results include drill holes ZY08-07 with 0.72% copper and 0.66 g/t gold over 72 meters and hole ZY11-20 with 0.28% copper and o.34 g/t gold over 126 m. Peripheral precious metal veins have returned up to 10.78 g/t gold. Work completed in 2021 included expansions to the induced polarization and soil grids at a cost of approximately $400,000. Zymo is fully permitted.

Iron Lake: copper-gold- palladium-platinum-cobalt, located 40 kilometers northeast of 100 Mile House, BC. The project is optioned to Tech-X Resources Inc. (a private company headed by Haig Farris). Targets include ultramafic copper-gold- palladium-platinum-cobalt and porphyry copper-gold. Tech-X may earn an 80% interest in Iron Lake by completing a total of $12,000,000 in work and paying a total of $1,000,000 in option payments by December 31, 2027. Work competed in 2021 included an airborne MobileMT survey flown by Expert Geophysics Limited In June and extensive geological reconnaissance and sampling later in the season. Drilling is planned for 2022.

Indata: copper-gold porphyry and precious vein, located 120 km north of Fort St. James, BC, optioned to Prophecy Potash Corp who may earn 60% by completing $2,000,000 in exploration and  paying $450,000 (cash and/or shares)over a five year term. A number of very prospective untested induced polarization targets exist and are fully permitted. Results from previous drilling include DDH88-11 with 47.26 g/t gold over 4 m and DDH98-4 with 0.20% copper over 148 m including 0.37% copper over 24 m at the bottom. In 2019 new mineralization was exposed by logging activities in the southern region of the claims with samples returning up to 3.64% copper and 5.95 g/t gold. The Kwanika and Stardust deposits, owned by Northwest Copper Corp., are located immediately north of Indata and share similar geology.

  

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 news release.

    

For more information, please visit the company’s website at www.eastfieldresources.com.

Copyright (c) 2021 TheNewswire – All rights reserved.




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