PMV is located in southern
Highlights
New drill results include best continuous copper intercept at PMV to date: 125 metres at 1.19% Cu, including high grade intervals of 12m at 2.29% Cu, 19m at 2.56% Cu and 15m at 2.27% Cu.
Results are expected to increase the copper grade in the upcoming NI 43-101 resource estimate for PMV, which is planned for release by the end of
Higher grade material from PMV has the potential to displace ore from the Cerro Colorado pit, allowing the Company to increase its copper production while maintaining current processing rates.
Intersected mineralisation is mostly stockwork-type with minor massive sulphides, which is expected to have positive metallurgical implications.
Three rigs continue to drill at PMV, as part of the Company's
The objective of the ongoing drilling programme at PMV is to confirm, improve and expand the historical NI 43-101 compliant inferred resource of 66Mt at 0.67% Cu, 1.92% Zn, 0.90% Pb, 0.63 g/t Au and 34 g/t Ag. In addition to the Masa Valverde deposit, PMV also includes Majadales, which was discovered in 2019 and was not included in any previous resource estimates, as well as several geophysical and geochemical drill-ready targets.
Drilling Results Overview
The five holes included in this release are infill holes drilled within the existing historical resource estimate of the Masa Valverde deposit. Each of these holes encountered broad intervals of massive, semi-massive and stockwork-type sulphide mineralisation at anticipated target depths.
More importantly, two of them (MJ-43 and MJ-45) returned the deposit's best continuous copper intercepts to date in terms of grade / thickness factor: 125 metres at 1.19% Cu (or 1.56% CuEq) and 179 metres at 0.87% Cu (or 1.72% CuEq) respectively. Atalaya expects these intercepts will contribute to an increase in the average copper grade of the upcoming NI 43-101 resource estimate, which is planned for release by the end of
Sourcing higher grade material from within the
Other highlights include the high gold grades encountered in many of the intercepts, including 25 metres at 2.09 g/t Au in hole MJ-42 and 43 metres at 1.42 g/t Au in hole MJ-44.
Drilling is currently continuing at PMV with three rigs. Two rigs are conducting infill and step out drilling at Majadales while the third is drill testing one of the recently defined fixed loop electromagnetic (FLEM) anomalies located west of the Masa Valverde deposit.
'High copper grades over significant true thicknesses bodes well for the NI 43-101 compliant resource statement scheduled for late Q1 2022 and also opens the possibility to consider large scale underground mining scenarios for future project development. The high gold grades encountered are particularly notable now that Atalaya has approved construction of an industrial-scale E-LIX plant, which has the potential to extract economically many key metals from polymetallic deposits, including copper, zinc and gold.
'Finally, we have increased Atalaya's exploration budget to
Contact:
Tel: 44 20 3757 6882
About
Atalaya is an AIM and TSX-listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest
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