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ATICO UPDATES MINERAL RESERVES AND RESOURCES FOR THE EL ROBLE MINE IN COLOMBIA

Atico Mining Corporation is pleased to report an updated NI 43-101 mineral resource and reserve estimate as of September 30th, 2020 for the El Roble Mine located in Colombia.

“Our infill and mine vicinity exploration drilling at El Roble mine have partially replenished some of the mined resources since the previous reserve and resource update in 2018. The updated reserve report shows the operations’ ability to continue delivering robust cash flow for the Company in the years to come, especially in the current metal price environment,” said Fernando E. Ganoza, CEO. “We will continue looking for opportunities to further extend the life of mine at El Roble while also aggressively drilling for additional massive sulphide deposits on the contiguous 6,300-hectare land package we control.”

Resource and Reserve Estimate Highlights

  • Measured and Indicated Mineral Resources are estimated at 1.17 million tonnes averaging 3.26% Cu, and 2.33 g/t Au.
  • Proven and Probable Mineral Reserves are estimated at 1.00 million tonnes averaging 3.02 % Cu, and 1.76 g/t Au.
  • A conversion rate of 87% of Measured and Indicated resources to Proven and Probable reserve categories over the current resource estimate.

El Roble Resource and Reserve Estimate

The updated mineral resource and reserve estimate for El Roble was prepared by staff and consultants of Miner SA, an Atico Mining operating subsidiary. Mr. Thomas Kelly (SME Registered Member 1696580) has reviewed the resource and reserve estimate and acted as the independent qualified person as defined by Canadian National Instrument 43-101. The Mineral Resources and Reserves reported herein were estimated using the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council. This resource and reserve estimate is based on all data available through September 30, 2020.

Category Tonnes
(000)
Cu
(%)
Au
(g/t)
Proven 950.2 3.05 1.78
Probable 51.3 2.51 1.45
Proven + Probable Reserves 1,002 3.02 1.76

 

Category Tonnes
(000)
Cu
(%)
Au
(g/t)
Measured Resources 1,039 3.31 2.29
Indicated Resources 135 2.89 2.62
Measured + Indicated Resources 1,174 3.26 2.33
Category Tonnes
(000)
Cu
(%)
Au
(g/t)
Inferred Resources 17 0.49 3.41

 

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