| |  | | | By Daniel Webster, dWeb.News
| OTCQX: ATCMF) is pleased to report on the latest results of its 2021 drilling program at the La Plata high-grade volcanogenic massive sulphide ("VMS") project in Ecuador. These latest results confirm that there are additional zones beyond the known envelopes, particularly along strike and between the North and South Blocks. Highlights from La Plata Drilling include: The true widths of mineralization are affected by uncertainties in the local strike, dip and mineralization. They are estimated to be between 76%-83% of the drill intercept. Hole CMLP-21-199 was drilled to confirm the robust grades found in the South Block. Through 9.8 meters of massively sulphide mineralization, copper and gold grades remain constant in the hole.
This sequence saw drilling aimed at new extensions to test mineralization at depth. The VMS footprint was extended further below the North Block. Recent results, including CMLP-21-193 and CMLP-21-192, confirm that mineralization continues to depth. Hole CMLP-21-193 also reported two strong mineralized intercepts. The first intercept is dominated sphalerite, while the second intercept is dominated chalcopyrite. These results indicate that there is a parallel VMS structure several meters east from the North Block.
Hole CMLP-21-192 reported grades of 171 g/t Silver and 11.9 % Zinc over 6.2 meters, in addition to strong copper- and gold grades. The 2021 drilling campaign has produced strong results. Drilling has extended the footprint of the North Block and South Blocks beyond the VMS lenses. It also confirmed the existence of additional mineralized structures that are parallel to the original South and North Blocks. The positive results of the first 8,000 meter drill programme have led to the Company increasing its drilling efforts to 12,000 m for the La Plata project. 2021 Regional exploration and drilling. Atico reactivated regional exploration at La Plata earlier this year. This year's exploration plan included a restart of the regional program and testing several targets further north along the concession's copper anomaly trend. The exploration team had previously sampled bedrock in drainages more than half a kilometer from the Guatuza zone. These samples were analysed and reported at 4.5 g/t A, 51.3g/t Ag and 16.55% Cu and 5.83% Zn (refer Toachi Mining's news release, January 16th, 2019,). This year's program will also include the San Pablo target area. It is located approximately one kilometer north of the copper trend and where regional drilling has already begun. The San Pablo target was previously drilled by Dr. Duncan Derry in 1965 and 1967. Results at that time showed 22 meters of 1.8% copper. Figure 1 can be found at https://www.globenewswire.com/NewsRoom/AttachmentNg/c325efb9-2621-4cbd-8566-7ddf349a632c Drill program assay results: True widths depend on uncertainties in the local strike or dip of the mineralization. They are between 76% to 83% of the drill intercept. La Plata Project Gold-bearing sulphide minerals at La Plata are composed of chalcopyrite and sphalerite with barite as clasts as well as layers. A few faults and dolerite dike dislocated the mineralized lenses. La Plata is one of the most valuable VMS deposits with high-grade copper and gold. Base and precious metal mineralization was formed in multiple volcanic episodes, which created a stacked volcanic exhalite hydrothermal sequence that is favorable for hosting additional VMS lens lenses. Recent drilling results have revealed deeper mineralization in the southern portion. Trenching results have also revealed an extension of mineralization northward. SGS Canada Inc. prepared the La Plata independent Amended & Restated NI 43-10 Preliminary Economic Assessment for the La Mina VMS Project Cotopaxi Province (Ecuador) ("PEA") originally dated March 30, 2019, amended and restated July 17, 2019. Mineral Services, Daniel Leroux M.Sc. P.Geo. Brian Wolfe. M.Sc. MAIG, David Orava. P.Eng. Simon Meik, FAusIMM(CP), Qinghua Jin, P.E. and pursuant to National Instrument43-101 ("NI 43-101) reports the La Plata estimated resources at 1.9m tons at an average grade 4.1 g/t Au. 49.4 g/t Silver, 3.3% Cu. 4.5% Zn, 0.6% Pb, as available on SEDAR. Preliminary economic analyses are preliminary in nature. They include inferred minerals resources that are too speculative geologically for the economic considerations that would allow them to be classified as mineral reserves. There is no guarantee that the preliminary economic assessment can be realized. These projects are more likely to fail because of the increased uncertainty. Economic viability is not demonstrated for mineral resources that aren't mineral reserves. The La Plata concession covers a total of 2,300 hectares over its 9-kilometer length. It contains known mineralization in two VMS lenses and nine priority exploration targets. The Company has a binding option agreement to earn up to 75% from a private Ecuadorean firm. This agreement covers the first option to acquire the initial 60% ownership. For more information, please refer to the MD&A of the Company for the year ended December 31, 2019. Quality Assurance & Quality Control A centerline is drawn on the drill core to indicate the bottom of the hole or a reference line if this is not known. The core is cut and sampled. Always sampling the right-hand side. The geological features that have been logged, such as rock type, mineralization and alteration, are used to select samples. Sample length must not exceed 2.5m and cannot be smaller than 20cm. A total of 10% of all samples submitted are certified blanks, standards, and field duplicates. Each sample batch must have at least one blank. On average, certified standards are submitted for 6% of all submitted samples. Field duplicates are taken at a rate 1/20 of all samples. All drill holes were analysed by ALS Chemex Lima, Peru. Sample preparation was done in Quito. International Standards ISO/IEC 17025 and ISO 9001:2015 have been accredited to the lab. All major ALS Geochemistry analytical labs are accredited to ISO/IEC 1705:2005 for specific analytical procedures. Qualified Control Dr. Michael Druecker (CPG) is a qualified person according to NI 43-101 standards. He is independent of the company and is responsible for ensuring this news release contains accurate summaries of original reports and data that Atico Mining Corporation has provided. This news release has been approved by Dr. Druecker. Atico Mining Corporation Atico, a growth-oriented company, is focused on the exploration, development, and mining of copper and gold projects in Latin America. The El Roble mine operation generates significant cash flow and the Company is currently developing the high-grade La Plata MMS project in Ecuador. The Company is also looking to acquire additional advanced stage opportunities. Visit www.aticomining.com for more information. PERSONAL RESPONSIBILITIES OF THE BOARD Fernando E. Ganoza
CEO
Atico Mining Corporation
OTCQX: ATCMF Investor Relations
Igor Dutina
Tel: +1.604.633.9022. Neither the TSX venture exchange nor its Regulation Services Provider (as defined in the policies by the TSX venture exchange) accepts liability for the accuracy or adequacy of this release. This news release has not been approved or disapproved by any securities regulatory authority. The securities being offered are not registered under the United States Securities Act of 1983, as amended (the 'U.S. Securities Act. Securities Act ''), and any state securities laws are not registered under the United States Securities Act of 1933, as amended (the ''U.S. Securities Act. This press release is intended for information purposes only. It does not constitute an offer or solicitation to purchase securities of the Company in any country. Cautionary Note Regarding Forward-Looking Statements: This announcement contains certain "forward looking statements" within the meaning Canadian securities legislation. Forward-looking statements include all statements, except statements of historical fact. Forward-looking statements are subject to risks and uncertainties. They are based on certain assumptions and factors. These statements are not guaranteed to be accurate and actual results or future events may differ from those predicted. There are important factors that could cause actual results not to match the Company's expectations. These include uncertainties in interpretation of drill results, the geology, continuity, and grade of mineral deposits; uncertainty about estimates of capital costs and operating expenses; the need for additional financing to continue its interest in and/or develop the Company's mineral projects; uncertainty regarding meeting program milestones; disruptions related the COVID-19 pandemic, other health and safety issues, and the responses of governments and communities to such issues.
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