Atalaya Mining, operator of the Riotinto copper mine, has acquired the research rights known as "Peñas Blancas", "Cerro Negro" and "Herreros", whose owner is the geological exploration company GEOTREX. Both companies have reached an agreement whereby Atalaya will operate the new permits, being responsible for the financing, authorization and operation of the exploration works. Likewise, the mining company secures a purchase option on 100% of the licenses.

The new development project, baptized as 'Riotinto Este', encompasses the three permits and expands through several municipalities in the provinces of Huelva and Seville, including Nerva, La Granada de Riotinto, Zufre, El Madroño, Castillo de las Guardas, Gerena, Guillena, Alcalá del Río and Burguillos. The permits that make up “Riotinto Este” have a total extension of more than 12,000 hectares. "Peñas Blancas" and "Cerro Negro" are adjacent to the eastern zone of the Riotinto deposit and share geological characteristics and structures with it. The studies carried out to date show signs of its mining interest, having detected magnetic anomalies.

There is also evidence of minerals of interest and historical activity, including several small mines, such as the 'Mina Admirable', whose production reached three million tons with a copper concentration of 1%.

Regarding the "Los Herreros" permit, it is located about 10 kilometers northeast of the current Cobre Las Cruces mining operation, in a similar geological setting. There is evidence that in the 1990s the Rio Tinto Zinc company defined a strong anomaly associated with the presence of metal under the surface. The company has among its plans to study this alteration through an intense campaign of surveys.

Commitment to development This new acquisition is part of the company's sustainable growth strategy, and represents a new commitment to the future in the Pyrite Belt, where it already has the Riotinto mine in operation, its main asset. In addition, it has the research permits for Masa Valverde, where it has already completed a geophysical study covering the entire area and is facing an 8,000-meter drilling campaign that can be expanded to define the mineral resources measured, as well as continue delimiting the mineral mass discovered and potentially identify nearby masses.

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— Steven Shaggy Shan Fri Jun 28 22:57:42 +0000 2019

Atalaya's objective is to continue and expand its activities, maintaining its commitment to responsibility and aligning business objectives with sustainable management of its operations from the social, environmental and governance aspects.

Alberto Lavandeira, CEO of Atalaya Mining, highlights the opportunity to "continue expanding our presence in a Pyrite Belt with good prospects, in which four new deposits have been found in the last six years alone." In addition, "it is an area that has never been systematically investigated with modern technology" so "it is an exciting project that, added to Masa Valverde, can provide important additional resources for Atalaya, reaffirming the company's commitment to operational expansion and exploration that allow us to continue providing growth and value for our stakeholders”.

About AtalayaAtalaya Mining is the operator of the historic Rio Tinto mine, a new mining project that incorporates the latest technological innovations in the sector, as well as the concepts of safety and environmental sustainability typical of 21st century mining. Riotinto is today an open pit copper mine that has produced 55,890 tons of copper in concentrate in 2020. It has 197 million tons of copper ore reserves, and is constantly working on identifying new resources to continue extending the life of exploitation, which currently stands at 12 years. The start-up of the Riotinto Project has involved a large industrial investment, including very important environmental improvements and the creation of more than 450 direct jobs.

Atalaya is a company adhering to the Spanish Network of the United Nations Global Compact, a commitment to the Ten Principles of the Global Compact and the 17 Sustainable Development Goals (SDGs) approved by the United Nations General Assembly. These are substantiated in the "2030 Agenda": an action plan in favor of people, the planet, prosperity and peace. This is Atalaya Mining's commitment to responsibility that aligns business objectives with sustainable management of its operations from the social, environmental and governance aspects.