Atalaya Mining files technical report on Riotinto project

The AIM-traded firm said the two deposits form part of Riotinto, and are located adjacent to its operating Cerro Colorado open pit and 15 million tonnes-per-annum processing plant.

At San Dionisio, Atalaya said the drilling data used for mineral resource estimation was based on 1,003 drill holes over 83,554 metres, of which 45 holes over 16,991 metres were completed between 2015 and 2021, and the remainder by past operators.

“The mineral resource model was created as a three-dimensional block model using Datamine Studio RM software,” the board said in its statement.

“The model block size is 10x10x10 metres, which is consistent with the estimated mining bench height and the estimated selective mining unit.

“The horizontal extent of the model is defined to cover the San Dionisio deposit, plus sufficient space outside the deposit to cover the ultimate pit.”

At San Antonio, meanwhile, the data used for resource estimation was based on 185 drill holes over 18,305 metres, of which eight holes over 1,504 metres were completed by Atalaya, and the remainder by past operators.

“The mineral resource model for the mineralised zone of San Antonio was created as a three-dimensional block model using Datamine Studio RM software.

“The model block size is two by two by two metres, which is used to more accurately define the geometry of the deposit.

“The horizontal extent of the model is defined to cover the San Antonio deposit and the adjacent Planes deposit, plus sufficient space outside the deposit for mine planning.”

At 0849 BST, shares in Atalaya Mining were up 4.76% at 220p.

Reporting by Josh White at Sharecast.com.