Shares of Atico Mining Corporation (TSX-V: ATY) jumped 11 cents on 1.24 million shares on Wednesday following more drill results from the company's La Plata VMS project in Ecuador.
The company reported three further holes from an ongoing 10,000-metre drill program, which intercepted grades including 6.84 metres of 19.54 gold-equivalent grams per tonne (g/t AuEq), 1.04 metres of 6.62 g/t AuEq, and 5.66 metres of 4.14 g/t AuEq. This adds to the program's two sets of previous results from July, which included 2.80 metres of 21.40 g/t AuEq, 1.31 metres of 32.90 g/t AuEq, 8.89 metres of 7.19 g/t AuEq, and 14.48 metres of 4.65 g/t AuEq.
Wednesday's results came from the project's South Block target, as the company continues to perform infill drilling to the north and south with the aim of expanding the resource. A 2019 preliminary economic assessment of the project, which consists of two concessions totalling 2,300 hectares, estimated an inferred resource of 1.9 million tonnes of 4.1 g/t gold, 49.4g/t silver, 3.3% copper, 4.5% zinc, and 0.6% lead.
In addition to drilling at its La Plata project, Atico Mining operates the underground El Roble gold and copper mine in Colombia, which produced 4.95 million pounds of copper and 2,733 ounces of gold in Q2 2020.
Shares of Atico are up 23 cents for 2020, and have been particularly boosted by the company's latest drill results.