10th Jul 2025 11:54
(Alliance News) - Atalaya Mining Copper SA on Thursday said its latest drilling results "confirm and extend high-grade copper zones" at Proyecto Masa Valverde in southern Spain.
The company said two rigs are currently active at the Masa Valverde deposit, with the results primarily associated with stockwork-style mineralisation.
"Notable high-grade" results, Atalaya said, include 25 metres at 2.93% copper in MJ65; 83 metres at 1.19% in MJ73W1, including 12 metres at 2.39%; and 26 metres at 2.78% in MJ79, including 10 metres at 4.39% copper.
"The implementation of directional drilling has allowed Atalaya to efficiently drill from surface at a spaced grid of approximately 50 by 25 metres over the selected mineral-enriched zones, which are located at depths of over 500 metres," Atalaya explained. "These high-grade zones are related to a late-stage tectonic event, which involves the replacement of primary massive sulphide [pyrite] and volcanic rhyodacite by copper [zinc-lead] veining-type mineralisation."
Atalaya said the drilling "supports [its] initial focus on the Masa Valverde copper zones, which are expected to be mined via the planned access ramp". It expects ramp development to start, subject to the board's final approval, "once the purchase of certain surface rights is completed".
Chief Executive Officer Alberto Lavandeira commented: "We are pleased to announce these exciting drilling results at Masa Valverde. The high-grade copper zones that have been identified have the potential to be mined selectively and deliver high-grade material to our Riotinto processing plant.
"Infill drilling will continue for the remainder of 2025, furthering our understanding of the copper zones...and of the separate zinc-rich and gold-rich areas of mineralisation which could be exploited as part of a larger-scale future development."
He continued: "Atalaya is in a fortunate position to develop regional deposits like Masa Valverde in a capital efficient manner thanks to its significant existing infrastructure at Proyecto Riotinto including its 15 [million tonnes per annum] processing plant. We also expect to benefit from the extensive underground mining capabilities available in the region.
"Finally, we are thankful for the positive business environment in Andalucia, as highlighted by the permitting timeline achieved at Proyecto Masa Valverde."
Shares in Atalaya Mining were down 0.1% at 462.50 pence in London on Thursday around midday.
By Emma Curzon, Alliance News reporter
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