Toronto, Ontario – Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) (the “Company”) today announced that it has completed successful bench scale testing of gold mineralization from its Atlanta project in Elmore County, Idaho.
Gold at Atlanta occurs both as free gold and gold in association with arsenic sulphides. The goal of the testing was to develop a process flow that would separate gold mineralization from the rock and concentrate it for shipment off site for further processing. A process using only water and gravity produced a concentrate that, based on a production rate of 800 tons per day and a feed grade of 0.075 ounces of gold per ton, would result in a concentration rate of 50:1 and producing a concentrate of 15.7 tons at a grade of 3.178 opt gold. The concentrate would contain 49.9 ounces of gold which would be a recovery of 82.8% of total gold.
“We are very excited about the results of the bench scale testing” said Eric Berentsen, Vice President of Atlanta Gold Corporation. “It has taken over a year and many tests to develop this flow sheet. Our process uses only water and gravity and the recovery of 82.8% of the gold is one of the highest ever achieved on this property. The water we use will be recycled so that our water usage will be minimal. The next step is to apply this technology to process a larger bulk sample of gold mineralized material.”
Information of a technical nature in this news release regarding Atlanta has been reviewed by Eric J. Berentsen, Vice President, Atlanta Gold Corporation, who is a designated “Qualified Person” under NI 43-101. Mr. Berentsen is a Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc.
Quality Control and Assurance
Samples are selected and handled in accordance with NI 43-101 standards. Processing and assaying was completed by Inspectorate Exploration and Mining Services Ltd. of Vancouver, British Columbia, Canada, Met-Solve Laboratories, Inc, Langley, British Columbia, Inspectorate America Corporation, Sparks, Nevada and Action Mining Services Inc., Sandy, Oregon. Quality control and assurance of the analytical results is maintained at the laboratory by inserting standards and blanks into the sample run.
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometres) located 90 air kilometers 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.
This news release contains forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities laws, including the application of the technology to process a large bulk sample of gold mineralized material. Such are based upon assumptions; opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors that management believe to be reasonable and relevant. These assumptions include those concerning the generation of an additional bulk sample, the achievement of recovery objectives, the completion of additional financings, the availability of equipment and manpower, the ability to achieve operating and cost estimates and general business and economic conditions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause 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 Company’s and AGC’s limited financial resources and their ability to raise sufficient funds on a timely basis to fund the capital and operating expenses necessary to carry out its planned initiatives; fluctuations in resource prices and currency exchange rates; the speculative nature of mineral exploration and mining (including with respect to the interpretation of geology, continuity, size and grade estimates and the recoverability of resource estimates); operational and technical difficulties which could increase operating and/or capital costs; risks and hazards associated with the business of mineral exploration, development and mining, including environmental, health and safety hazards; changes in laws or regulations and the risk of obtaining necessary consents, licenses and permits; changes in general economic conditions and in the financial markets; 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.
Wm. Ernest Simmons
President and CEO
Telephone: (208) 424-3343
Fax: (208) 338-6513
Atlanta Gold Corporation
Eric J. Berentsen
Telephone: (208) 424-3343
Fax: (208) 338-6513
CHF Investor Relations
Director of Operations
Telephone: (416) 868-1079 ext 225
Fax: (416) 868-6198
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