Toronto, Ontario – Atlanta Gold Inc. (TSXV: ATG) announces that it has initiated a comprehensive program of sampling to provide a better understanding of the distribution, average content and metallurgical recovery of a suite of 50 potential by-products at its Atlanta Gold Project currently in development near Atlanta, Idaho.
Along with gold mineralization there are a number of elements present throughout the 11,400-foot (3,475-metre) long, 30-120-foot (9-37-metre) wide Atlanta Shear Zone, including silver and tungsten. An estimated 2.6 million ounces of silver were historically mined at Atlanta. As previously announced in a news release of October 28, 2009, a recent review of historic production reports confirmed the presence of tungsten within the Atlanta Shear Zone. From April 1, 1942 to July 31, 1943, the Talache mill which was located on the Atlanta property processed 363,615 pounds of tungsten concentrate which contained 37,835 pounds or 10.41% tungsten trioxide (WO3) extracted from 16,895 tons of ore.
In February 2010 an initial batch of 57 random samples from six drill holes was sent to a recognized ISO 9001: 2008-certified external laboratory (Inspectorate America Corporation of Sparks, Nevada, U.S.A.) and analyzed for 50 elements by Inductively Coupled Plasma Multi Spectrum (ICP-MS) and / or four acid digestion (4A). In addition, duplicates, blanks, and standards were analyzed to ensure analytical accuracy and reproducibility. For the 10 most significant elements which were present in all six drill holes, the high, low and average quantities (in parts per million, or ppm) detected using the ICP-MS/4A methods for the sample analyses are provided in the table below:
The geochemical and assay techniques used by Inspectorate are not meant as a final determination of recoverable by-products and more sampling will be required to assess the potential of the above elements as by-products. Samples from future drilling will be routinely assayed for these elements, and investigations will be undertaken to establish correlations between concentrations of these elements and gold. Future sampling to determine recoverability of these elements will also be conducted using metallurgical methods. If metallurgical testing shows that certain elements can be efficiently recovered, the proceeds from the relevant by-products may make a significant contribution to the net smelter return value of the Atlanta gold resource and reduce the future cash costs of mining and processing.
Information of a technical nature in this news release regarding the Atlanta gold project has been reviewed by William (Bill) L. Josey who is a designated “Qualified Person” under NI 43-101. Mr. Josey is a registered professional geologist in the State of Arizona.
About the Company
Atlanta Gold Inc. (TSXV: ATG) holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 889.1 hectares located 90 air kilometres north east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects.
The Company is focused on advancing its core asset, Atlanta, towards mine development and production and on acquiring, exploring and developing other attractive gold projects.
This news release contains forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. We use words such as “may”, “intend”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology to identify forward-looking statements, including with respect to the interpretation of the results of the Company’s 2010 exploration program. Such are based upon assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the accuracy of historical records, the accuracy of the Company’s resource estimates and of the geological, metallurgical and price assumptions on which the estimates are based. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include, but are not limited to, the speculative nature of mineral exploration, development and mining (including with respect to size, grade and recoverability of mineral reserves and resources); operational and technical difficulties; risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards; changes in resource prices and fluctuations in currency exchange rates; as well as other risks and uncertainties which are more fully described in the Company’s annual and quarterly Management’s Discussion and Analysis and in other Company filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements.
Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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