Toronto, Ontario – Atlanta Gold Inc. (TSX V: ATG) announces results from the most recent six shallow confirmation drill holes from its 2010 surface diamond core drilling program in the Monarch and East Extension areas at its Atlanta gold property in Idaho.
The highlight of the six shallow drill holes was hole D10060E13 which had two intercepts that averaged 0.424 (opt) (14.54 grams per tonne or gpt) Au over 10 feet (3 metres) and 0.418 opt (14.33 gpt) over 20 feet (6 metres) of core respectively within the mineralized zone at vertical depths of approximately 280 feet (85 metres) and 500 feet (152 metres) respectively below the drill hole collars. These composite intersections included intercepts of 0.814 opt (27.91 gpt) Au over 2.5 feet (0.8 metres) and 1.196 opt (41.01 gpt) Au over 2.5 feet (0.8 metres) of core width.
Assay results for the most recent six shallow confirmation drill holes from the 2010 surface drilling program are provided below with three assays above 0.10 opt (3.43 gpt) Au shown in bold italics.
|Hole Identification||From (Feet)||To (Feet)||Width (Feet)||True Width (Feet)*||Assay (opt Au) **||True Width (Metres)*||Assay (gpt Au)|
|D10214E18||Less Than 0.02 opt Au|
|D10184E20||Less Than 0.02 opt Au|
* True widths are estimates based on current available data and may be subject to change.
** Assays of less than 0.02 opt Au have not been reported.
(1) Includes 2.5 feet (0.8 metres) of 0.814 opt (27.91 gpt) Au
Includes 2.5 feet (0.8 metres) of 1.196 opt (41.01 gpt) Au
(2) Includes 3.5 feet (1.1 metres) of 0.162 opt (5.55 gpt) Au
(3) Includes 3.5 feet (1.1 metres) of 0.619 opt (21.22 gpt)Au
The 2010 surface exploration program includes both shallow and deep drilling and will continue to focus on upgrading and increasing the existing resource base and testing other identified targets. Although the results from the 23 shallow holes assayed to date are insufficient at this time to draw any conclusions, most of the reported holes penetrated intervals of gold mineralization and approximately forty percent of these holes had one or more intervals above 0.10 opt, which was the cut-off grade used for the underground resource in the March 2009 NI 43-101 Technical Report.
The Company has also initiated its 2010 surface trenching program and plans to survey, sample and assay 1,400 feet (427 metres) of trenches and assay approximately 1,000 soil samples to further evaluate the near surface potential of the Atlanta Shear Zone. The 2008 and 2009 trenching programs exposed and identified significant gold-bearing mineralization in 95% of the returned samples. Assay results are pending for approximately 660 feet (201 metres) of mechanized surface trenching which has been completed in the Idaho area of the Atlanta property.
As previously announced on August 11th, assay results of the core from the first intermediate depth hole (hole D10026E17) at Atlanta, which showed two wide intercepts (core widths of 370 feet and 180 feet [113 and 55 metres] respectively) of visible sulfide and alteration mineralization, are pending. The intercepts are approximately 190 feet (58 metres) apart and are in an un-mined and un-drilled area below the old 900 foot level east of the Newmont zone. Inspection of the drill core indicates that alteration of the surrounding host rock is consistent with other gold-bearing intercepts in the main shear, confirming the potential of the Atlanta property to host a significant gold epithermal system.
Information of a technical nature in this news release regarding Atlanta has been reviewed by William L. (Bill) Josey who is a designated “Qualified Person” under NI 43-101. Mr. Josey is a registered professional geologist in the State of Arizona.
Quality Control and Assurance
Drill samples were handled and assayed in accordance with NI 43-101 standards. Assaying was done by Inspectorate America Corporation of Sparks, Nevada, U.S.A. Inspectorate is a well known international laboratory that has operated in Nevada for more than 10 years. Samples were 30-gram fire assays of split NQ-sized core (1⅞ inches in diameter). Quality control and assurance of the analytical results is maintained by inserting standards, blanks, and duplicates into the sample run, approximately every twenty samples at the project site.
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 2,197 acres located 65 miles 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 and its impact on the economics of the Atlanta project. 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.
For further information:
Atlanta Gold Inc.:
|Investor Cubed Inc.:
Telephone: (647) 258-3310, (888) 258-3323
Fax: (416) 363-7977
|CHF Investor Relations:
Telephone: (416) 868-1079
Fax: (416) 868-6198
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