Atico Mining Corp. reported initial results from an exploration program taking place in a previously mined area near its El Roble (the Oak) mine in Colombia. The company reported results from five diamond drill holes, which included 24.3 m grading 3.70% copper and 8.40 grams per metric ton (g/mt) gold and 31.8 m grading 3.40% copper and 2.01 g/mt gold, respectively.

“We are pleased to report that our drilling campaign intersected new mineralization and an extension of the main historic massive sulphide orebody at the El Roble deposit,” said Fernando Ganoza, CEO, Atico Mining. “These results continue to increase confidence in our view that additional high-grade copper-gold mineralization remains both within historically defined bodies and beyond the previously described mineralized cap.” The current exploration area was mined before Atico obtained control of the mine in 2013.

The El Roble mine is a high-grade underground copper and gold mine with a 1,000 mt/d processing plant, located in the Department of Chocó, which produces a copper and gold concentrate.

The mine currently has proven and probable reserves of 1 million mt grading 3.02% copper and 1.76 g/mt gold, at a cut-off grade of 1.3% copper equivalent. The mineralization is open at depth and strike and the company plans to further test the limits of the deposit.