Atalaya Mining PLC: Updated Reserves and Resources Statement
NICOSIA, CYPRUS--(Marketwired - Jul 14, 2016) - Atalaya Mining plc (AIM: ATYM) (TSX: AYM)
AIM: ATYM; TSX: AYM
Atalaya Mining plc
("Atalaya" or the "Company")
Updated Reserves and Resources Statement
Atalaya (AIM: ATYM) (TSX: AYM), the European mining and development company, announces an updated Mineral Reserves and Resources estimate for the Riotinto Copper Project ("Proyecto Riotinto") as at 30 June 2016. These estimates, outlined below, have been compiled in accordance with the guidelines set out in Canadian National Instrument 43-101.
Highlights
- Total open pit Mineral Reserves estimate of 153 million tonnes averaging 0.45% Cu using variable, declining cut-off grades for 681,000 tonnes of contained Cu metal, (previous total 606,000 tonnes), representing over a 12% increase.
- Total open pit Measured and Indicated Mineral Resources estimate of 193 million tonnes averaging 0.43% Cu and an additional Inferred open pit Mineral Resource estimate of 23 million tonnes averaging 0.48%, both calculated using a 0.20% Cu cut-off grade.
Total Mineral Reserves for Proyecto Riotinto
| June 2016 Estimate | ||||||||||||||||
| Proven | Probable | Mineral Reserve | ||||||||||||||
| Tonnes (millions) | % Cu | Tonnes (millions) | % Cu | Tonnes (millions) | % Cu | Contained Cu t | Waste:Ore ratio | |||||||||
| New Reserve | 78 | 0.45 | 74 | 0.44 | 153 | 0.45 | 681,000 | 1.9 | ||||||||
| Previous Reserve | 39 | 0.38 | 84 | 0.54 | 123 | 0.49 | 606,000 | 1.1 | ||||||||
Totals may not equal the sum of the components due to rounding adjustments
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http://www.rns-pdf.londonstockexchange.com/rns/1271E_1-2016-7-13.pdf
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