Welcome!

News Feed Item

Atacama Pacific Provides Cerro Maricunga and Corporate Update

TORONTO, ONTARIO -- (Marketwired) -- 05/15/14 -- Atacama Pacific Gold Corporation (TSX VENTURE:ATM) ("Atacama Pacific") is pleased to provide an update on the Cerro Maricunga oxide-associated gold project prefeasibility study and the disposal of its surplus water interests in the area of Cerro Maricunga.

The Cerro Maricunga prefeasibility study remains on schedule for completion during the second quarter of 2014. The key mining and processing segments of the report are progressing well and quotes for equipment and key infrastructural items, such as the water pipeline, are pending.

A further set of six column tests have recently been completed with final results anticipated in June 2014. Excluding the pending results, Atacama Pacific has completed 29 column tests and over 200 bottle rolls tests, from various depths throughout the pit-confined resource, confirming that the Cerro Maricunga deposit is amenable to heap leach processing.

Cerro Maricunga hosts a pit-confined, oxide-associated gold resource of 3.470 million ounces of gold in 248.8 million tonnes grading 0.43 grams per tonne gold ("g/t Au") in the measured and indicated category with a further 43,000 ounces of gold in 3.1 million tonnes grading 0.43 g/t Au in the inferred category. The estimate was confined within a Whittle pit shell modelled at a gold price of US$1,200 per ounce with a cut-off grade of 0.18 g/t Au.

As announced on July 10, 2013, Atacama Pacific purchased 80 litres per second ('l/s") of water from a Chilean water utility in Copiapo, Chile, Aguas Chanar S.A. ("Aguas Chanar"), for the development of Cerro Maricunga, along with the right of first refusal for additional water if and when available.

With a secure and sustainable source of water acquired for Cerro Maricunga, Atacama Pacific has been disposing of its water exploration interests in the region.

As reported on November 19, 2013, Atacama Pacific entered into an agreement to sell its water-related rights to a Chilean subsidiary of Gold Fields Ltd. ("Gold Fields"). Atacama Pacific recently received a second payment from Gold Fields of US$300,000 and with that payment, Gold Fields is committed to making a further payment of US$500,000 on December 31, 2014. Upon receipt of approval from the Direccion General de Aguas, the Chilean water authority, for all or a portion of the 42 l/s of water discovered previously by Atacama Pacific within the concessions, Atacama Pacific will receive a payment of US$62,000 per l/s approved. If Gold Fields receives approval for the 42 l/s of water discovered, the final payment to Atacama Pacific would be US$2,604,000.

On May 15, 2014, Atacama Pacific entered into an agreement with Hydro Exploraciones SpA under which it will issue 350,000 common shares at a price of $1.15 per share to settle all obligations under two water exploration agreements. These agreements were related to water concessions located 70 kilometres to the east of Cerro Maricunga. The share payment agreement is subject to approval by the TSX Venture Exchange.

Dr. Albrecht Schneider, the Executive Chairman, a director and 9.9% shareholder of Atacama Pacific, owns a controlling interest in Hydro Exploraciones SpA.

National Instrument 43-101

As defined by Section 1.5 of National Instrument 43-101 ("NI 43-101") of the Canadian Securities Administrators, the Qualified Person for the Cerro Maricunga Property is Sergio Diaz, a resident of Santiago, Chile and a registered member of the "Comision Calificadora de Competencias en Recursos y Reservas Mineras" (Chilean Mining Commission, registry n degrees 051), an accepted foreign association as defined by NI 43-101 (Appendix A). Mr. Diaz has reviewed and verified the contents of this press release.

The Cerro Maricunga resource estimate was prepared under CIM Definition Standards (2005). Dr. Eduardo Magri, a mining engineer (University of Witwatersrand) and a Fellow of the Southern African Institute of Mining and Metallurgy with over 30 years of industry experience, is the Independent Qualified Person for the resource estimate.

About Atacama Pacific Gold Corporation

Atacama's business is the acquisition, exploration and development of precious metals resource properties in Chile. Atacama's goal is to become a producer of gold through the exploration and development of its Cerro Maricunga project, located in Region III, 117 kilometres northeast of the city of Copiapo. Atacama also has interests in four other mineral properties within close proximity of Cerro Maricunga and a fifth property in Chile's Region I.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to the timing of the prefeasibility study, statements regarding the expectation to increase mineral resources, statements regarding expectations for receipt of permits and environmental approvals, exploration results (including with respect to water resources), the success of exploration activities generally, mine development prospects, and potential future gold production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the results of due diligence activities, changes in economic parameters and assumptions, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of further economic and technical studies, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in Atacama Pacific's publicly filed documents.

Although Atacama Pacific has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
"We focus on composable infrastructure. Composable infrastructure has been named by companies like Gartner as the evolution of the IT infrastructure where everything is now driven by software," explained Bruno Andrade, CEO and Founder of HTBase, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.