Atico Produces 2.23 Million Pounds of Cu and 1,553 Ounces of Au in First Quarter 2025
Rhea-AI Summary
Positive
- Copper recovery improved by 2% to 93.6%
- Management expects recovery of planned development and production in Q2 and Q3
- Mine reserves estimate extends life of mine until Q1-2027
- Mineralization remains open at depth and along strike for potential expansion
Negative
- Copper production decreased 33% to 2.23M pounds vs Q1 2024
- Gold production fell 28% to 1,553 ounces vs Q1 2024
- Copper head grade declined 22% to 1.97%
- Processing capacity decreased 16% to 773 tonnes per day
- Unexpected challenging rock conditions delayed access to higher grade stopes
News Market Reaction – ATCMF
On the day this news was published, ATCMF declined 3.95%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended March 31, 2025 from its El Roble mine. Production for the quarter totaled 2.23 million pounds of copper and 1,553 ounces of gold in concentrates, a decrease of
“The El Roble mine performed below schedule this quarter as the transition to the new areas was delayed by unexpected challenging rock quality conditions. Tonnage and particularly head grade were impacted as access to higher grade stopes was slowed down.” said Fernando E. Ganoza, CEO. “We expect to see progressive improvements in the second and third quarter this year to recover the planned development and preparation rate, which will allow us to make up for most of the lost production.”
First Quarter Operational Highlights
- Production of 2.23 million pounds of copper contained in concentrates; a decrease of
33% over Q1 2024. - Production of 1,553 ounces of gold contained in concentrates; a decrease of
28% over Q1 2024. - Average processed tonnes per day of 773, a decrease of
16% over Q1 2024. - Copper head grade of
1.97% , a decrease of22% over Q1 2024. - Gold head grade of 1.40 grams per tonne; a decrease of
15% over Q1 2024. - Copper and gold recovery of
93.6% and62.7% ; an increase of2% for copper and no significant change for gold, over Q1 2024.
First Quarter Operational Details
| Q1 2025 Total | Q1 2024 Total | % Change | |
| Production (Contained in Concentrates) | |||
| Copper (000s pounds) | 2,230 | 3,338 | - |
| Gold (ounces) | 1,553 | 2,156 | - |
| Mine | |||
| Tonnes of ore mined | 56,467 | 64,873 | - |
| Mill | |||
| Tonnes processed | 54,978 | 65,787 | - |
| Tonnes processed per day | 773 | 811 | - |
| Copper grade (%) | 1.97 | 2.51 | - |
| Gold grade (g/t) | 1.40 | 1.64 | - |
| Recoveries | |||
| Copper (%) | 93.6 | 91.8 | |
| Gold (%) | 62.7 | 62.1 | Nil |
| Concentrates | |||
| Copper and Gold Concentrates (dmt) | 5,763 | 8,274 | - |
| Payable copper produced (000s lbs) | 2,091 | 3,137 | - |
Note: Metal production figures are subject to adjustments based on final settlement. The reported results are preliminary in nature and are awaiting independent lab verification.
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’s reserves estimate, with an effective date of March 12, 2024, includes Proven and Probable mineral reserves of 828 thousand tonnes averaging
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 its 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; and other risks and uncertainties disclosed under the heading “Risk Factors” in the AIF of the Company dated September 4, 2024 filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com
FAQ
What caused ATCMF's production decline in Q1 2025?
How much did Atico Mining's copper and gold production drop in Q1 2025?
What is the current processing capacity of ATCMF's El Roble mine?
When is Atico Mining's El Roble mine expected to recover production?
What are the current mineral reserves at ATCMF's El Roble mine?
