High Grade Intercepts Continue to Expand La Plata Size
Atico Mining drills 3.94 m of 2.8 g/t Au at La Plata
2021-05-06 08:36 ET - News Release
Mr. Fernando Ganoza reports
ATICO CONTINUES TO EXPAND VMS FOOTPRINT WITH HIGH GRADE COPPER-GOLD INTERCEPTS REPORTING 3.70% CU, 2.80 G/T AU, 40.63 G/T AG AND 4.53% ZN OVER 3.94 METERS AND REINITIATES REGIONAL EXPLORATION AT LA PLATA PROJECT IN ECUADOR
Atico Mining Corp. has provided information on the latest results of its 2021 drilling program at the La Plata precious-metal-rich volcanogenic massive sulphide (VMS) project in Ecuador. These latest results confirm additional new zones outside of the known envelopes, more precisely along strike and below the North Block.
La Plata Drilling Highlights Include: Hole From (m)To (m)Interval (m)Au (g/t)Ag (g/t)Cu (%)Zn (%) CMLP-21-181 145.83 148.85 3.02 6.97 53.95 0.13 0.58 CMLP-21-182 114.47 116.55 2.08 3.79 144.41 0.18 9.67 CMLP-21-185 140.42 140.72 0.30 9.95 34.00 0.31 3.23 CMLP-21-186 198.13 202.07 3.94 2.80 40.63 3.70 4.53 CMLP-21-188 217.36 223.20 5.84 0.81 35.24 3.31 0.79
True widths are dependent on uncertainties in the local strike and dip of the mineralization and are estimated to be between 76% and 83% of the drill intercept.
In this sequence, drilling was performed to test the mineralization extension at depth below the North Block. Results, including CMLP-21-181, CMLP-21-182 and CMLP-21-185 confirm additional copper and gold mineralization zones are present at depths down to 148.85m. See Figure 1 below.
Holes, CMLP-21-186 and CMLP-21-188 which were drilled between the South and North Blocks, confirmed an extension of the massive sulfide mineralization in this vicinity potentially connecting the two blocks. See Figure 1 below.
2021 Successful drilling of the VMS footprint continues to expand mineralisation
Atico has drilled close to 5,500 meters since the beginning of this year's exploration campaign on La Plata. The 26 diamond drill holes completed this year have contributed to the confirmation of our interpretation around the continuity of mineralization as the drilling progressed at depth under the known North Block and continue to report interesting intervals. Also, the "Guatuza Extension" of the North Block has also been confirmed with this campaign. As is evident, the North Block will require further drilling at depth and also along strike as secondary lenses were encountered in the Guatuza extension during this recent exercise. As the drilling encountered the anticipated mineralized zones, these holes also reported various additional intercepts of mineralized rock of interesting thickness reporting the possible presence of displaced lateral lenses.
In addition, drilling is presently being performed to test the continuity of the South Block towards the North Block. Mineralized intercepts are progressively confirming our new assumption that a significant mineralized lens is forming, potentially merging of the South and North Blocks. See Figure 1 below.
2021 Regional exploration and Drilling
Atico Mining has reinitiated regional exploration on La Plata. During last year's pandemic crisis in country, Atico decided to reduce its regional activities and concentrated its drilling efforts on the mine vicinity area only. Part of this year's exploration plan is to restart the regional program and test several targets identified further to the north along the concession's copper anomaly trend. Previously, the exploration team sampled bedrock in drainages over half a kilometer north of the Guatuza zone. These samples were analyzed and reported up to 4.5 g/t Au, 51.3 g/t Ag, 16.55% Cu, and 5.83% Zn (refer to Toachi Mining's news release dated January 16th, 2019).
In addition, The San Pablo target area, located approximately one kilometer north along the copper trend will also be included in this year's program. The San Pablo target had been historically drilled during a campaign supervised by Dr. Duncan Derry