The company recently completed 1,329 meters of drilling in 4 drill holes at the Archie area. Drill results have confirmed strong continuity of the favorable black chert formation to the north of El Roble mine with presence of chalcopyrite and pyrite stringers up to 5 cm in length, but massive sulphide mineralization was not intercepted. The company is evaluating the results from the Archie area and conducting additional interpretation of the zone. The drill program at Archie will be revised as a result of the enhanced understanding of the area.
Target preparation work has been completed at Santa Anita anomaly with 8 drill targets defined within this area. Work in the San Lorenzo prospective target has begun and includes in-fill geochemical sampling, structural interpretation, detailed geological mapping and interpretation of geophysical anomalies. In addition, surface soil and rock geochemistry and geology work continues in newly identified as well as known target areas to better understand and prioritize drilling targets.
El Roble operation assessment update
In the first quarter of 2013, the company initiated a comprehensive assessment of the El Roble mine operation through technical and engineering studies aimed at gaining a thorough understanding of the existing mining operation. Studies produced by engineering firms and independent consultants have assessed the potential to scale up the mill and processing facilities, the mine's design and optimization, the tailings dam expansion and the operation's environmental standards.
As part of this assessment, the company has validated the location and upgraded the design of a new adit at the 1886 level, 114 meters below current mine workings. The adit will provide access to new resources and allow building of an underground drill platform from which diamond drilling can intercept the newly discovered massive sulphide bodies perpendicular to their strike direction, which the company believes is necessary to estimate measured and indicated resources and, eventually, a mineral reserve estimate.
Michael J. Lechner of Resource Modeling Inc. and Donald F. Earnest of Resource Evaluation Inc. are the Qualified Persons as defined by National Instrument 43-101 and are responsible for the accuracy of the technical information in this news release regarding the resource estimate.
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified person under NI 43-101 standards, and independent of the company is responsible for ensuring that the information contained in this news release not related to the resource estimate is an accurate summary of the original reports and data provided to or developed by Atico Mining Corporation.
The El Roble Property
The El Roble property is the site of an operating underground copper and gold mine with nominal capacity of 400 tonnes per day. Over the past 22 years the mine has processed 1.5 million tonnes of ore at an average grade of 2.5% copper and an estimated 2.5 g/t gold. Copper and gold mineralization at El Roble occurs as volcanogenic massive sulfide ("VMS") lenses. Atico's underground drilling has discovered additional high-grade mineralization below the mine workings. Exploration on the surrounding 6,679 ha property over the past two years has defined a productive contact and an enclosing package of host rocks that extend 10 kilometers across the property. The entire strike length is marked by ("VMS") mineralization occurrence indicators.
About Atico Mining Corporation
Atico is a growth oriented, copper and gold exploration and development company focused on mining opportunities in Latin America. The company's primary property is the El Roble project. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO, Atico Mining Corporation
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 prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.
Atico Mining Corporation
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