Atico restarts mining operations in Colombia
(Kitco News) - Atico Mining (TSX.V: ATY | OTC: ATCMF) today reported a successful restart of operations at the El Roble copper and gold mine, located in Colombia, along with announcing the most aggressive exploration program the company has managed since inception.
The company’s ambitious exploration program will be divided between the two projects. At El Roble the plan is to drill up to 18,000 meters on both regional and near mine exploration targets. While at La Plata project in Ecuador, the team's plan is to drill up to 12,000 meters for the year.
"We are pleased to report a successful restart of operations at the El Roble mine along with announcing the most aggressive exploration program the company has managed since inception," said CEO Fernando E. Ganoza. "Given the current metal price environment we are continuing to see exceptionally robust cashflow generation as 2021 is on track to be another record-breaking year for the company. At this pace, we will be in an even stronger position to further reevaluate the 2021 exploration budget with the intent to increase it for the second half of the year."
El Roble Cu-Au mine, the only copper mine in production in Colombia, started operations in 1990 and to-date has processed approximately 1.8 million tonnes of primarily pyrite-chalcopyrite ore with an average grade of 2.67% copper and an estimated gold grade of 2.63 g/t Au from a Cretaceous-age VMS deposit.
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 its high-grade La Plata VMS project in Ecuador. The company is also pursuing additional acquisition of advanced stage opportunities.