Atalaya Mining PLC: Proyecto Touro - Progress update

NICOSIA, CYPRUS--(Marketwired - Jun 5, 2017) -Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)

AIM: ATYM; TSX: AYM
5 June 2017

Atalaya Mining Plc.
("Atalaya" or the "Company")

Proyecto Touro - Progress update

Atalaya (AIM: ATYM) (TSX: AYM), the European mining and development company, is pleased to provide an update on the development progress at its Touro copper project ("Proyecto Touro") in North-western Spain.

Significant milestones include:

• Successful completion of metallurgical test-work which has demonstrated that high grade clean concentrates and high recovery rates can be expected at Proyecto Touro.
  
  
• Completion of 26,557 metres of exploration and in-fill drilling to provide the basis of an NI 43-101 technical report.
  
  
• Signing of a new purchase option agreement on the exploration concessions around Proyecto Touro that gives the Company control over the entire geological district hosting additional mineralised zones.
  
  

Metallurgical test-work
A comprehensive test-work programme has been completed by SGS Australia to confirm the process flowsheet design and assess the geo-metallurgical response of the Proyecto Touro ores. The programme included mineralogical analysis, comminution, flotation and materials handling testing. Composite and variability samples were prepared using fresh drill core and were tested using both batch and locked cycle test procedures.

Predicted metallurgical recoveries for primary ores, based on logarithmic modelling, reported very strong correlation with actual recovery in locked cycle composite tests. In the case of transitional ore, a fixed tail grade model best fitted results for the transitional samples tested. On an overall basis, the locked cycle tests, which emulate the expected plant performance, gave copper recoveries ranging from 83% to 96% with an average of 89%.

Results from the programme indicate that high grade concentrates can be produced with an average grade of 29% copper and metallurgical recoveries of 89%. The concentrates produced were very clean and free of deleterious elements such as arsenic and lead.

These results have been incorporated into the process design criteria, equipment sizing and capital and operating cost estimates for the project.

Please click on the associated PDF document to view the full announcement.
http://www.rns-pdf.londonstockexchange.com/rns/0820H_1-2017-6-2.pdf