05:18 PM EDT, 07/02/2024 (MT Newswires) -- Atico Mining ( ATCMF ) on Thursday said a definitive feasibility study for its La Plata project in Ecuador showed the site can support a US$91-million mining project producing copper, gold, silver and zinc over an 8.1-year mine life.

The company said it expects the project to produce 9.71-million pounds of copper annually, along with 15,929 ounces of gold, 226,299 ounces of silver and 13.25-million tonnes of zinc.

All-in sustaining costs are pegged at US$2.70 per copper-equivalent pound.

"Completion of this study is yet another important milestone that the Company has achieved this year as it provides for an important foundation upon which to continue building the La Plata project. As a next step, we have already commenced and advanced basic and detailed engineering where we continue to see significant opportunities yet to be captured," chief executive Fernando Ganoza said in a release.

The study includes construction of a mill processing 850-tonnes per day of ore.

Atico shares closed down $0.01 to $0.155 on the TSX Venture Exchange