Atalaya Mining PLC - copper projects in Spain - Says Proyecto Masa Valverde survey may expand drill targets as it expands footprint in the highly prospective Iberian Pyrite Belt.
Chief Executive Officer Alberto Lavandeira says: "With the MoU for Proyecto Riotinto East, Atalaya expands its access to one of the most prospective areas of the Iberian Pyrite Belt. Surprisingly, the area has not been the subject of modern and systematic exploration to date, in particular, the Peñas Blancas and Cerro Negro investigation permits since they cover the potential east extensions of both the Riotinto and Aguas Teñidas-La Magdalena trends. The Herreros investigation permit is located northeast of First Quantum's Las Cruces Copper Mine in a similar geological setting and with a promising coincident gravity and TEM geophysical anomaly ready for drill testing."
"This is an exciting project that, following on from the Masa Valverde acquisition in October 2020, has the potential to add significant additional resources for Atalaya. This latest transaction underlines the Board's commitment to both operational expansion and new exploration to secure growth and deliver value for shareholders."
Current stock price: 354 pence
Year-to-date change: up 51%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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