Atlanta Gold Inc. Announces Strategy for 2013
TORONTO, Jan. 16, 2013 /CNW/ - Atlanta Gold Inc.'s (TSXV: ATG) (OTCQX: ATLDF) plan for 2013 is: (i) to continue to implement the Supplemental Plan of Operations ("SPOO") for the 900 Adit Closure and Reclamation Plan pertaining to the water treatment plant; and (ii) to generate a larger bulk sample in order to determine the most effective gravity recovery system for mining and processing of the Atlanta lode in both the oxide and sulfide zones.
As prescribed in the government approved SPOO and the Final Filter specifications for the Atlanta mine project, the first stage of the new and proprietary passive water treatment system was implemented to capture 99.8% or more of the arsenic, to achieve compliance with the Clean Water Act. The Passive Filtration System at the Pilot Water Treatment Facility (PWTF) was installed in November 2012 (see news release dated November 13, 2012). The second stage, planned to expand the capacity of the PWTF to handle 600+ gallons per minute, will be completed in Q3-2013. The final stage is to plug the 900 crosscut and complete the closure plan for the 900 site by December 2014.
"Construction and bulk sampling activities this year will take Atlanta Gold into the final stages in our path to production and for this our team is truly energized," shared Wm. Ernest Simmons, CEO. "Making the transition from resource development to production is the stuff that mining veterans like me live for, and I'm proud to be where we are now - within sight of the day the Atlanta Gold Mine will be fully up and running as a producing mine once again."
Results to date from the 107-tonne bulk sample processed in August 2012 have confirmed beneficiation using the gravity recovery procedure is expected to achieve a recovery greater than 83% which was used in the model developed by P&E Mining Consultant Inc. for their NI 43-101 compliant resource estimate (see news release dated February 9, 2012).
The Company will continue to work with Knife River Corporation to mobilize its processing facility to the Atlanta project site, improve the technology and customize it for Atlanta's purposes. No chemicals will be added because the gravity processing system only uses water.
In order to mobilize the needed equipment onto the site, Atlanta Gold intends to build an 8km access road. This all seasons road will stand as a concrete example of the Company's determination to address existing environmental conditions by relocating access routes, reducing the travel along drainages, protecting streams and tributaries, reducing storm water pollution by increasing the width of the buffer zones, eliminating the continuous use of exploration roads, providing a firebreak for the town of Atlanta and, last but not least, a safe entry and access route for all road users.
The request to construct the road was supported by residents, property owners and visiting sportsmen via a petition to the Elmore County Commissioners and Planning Board. The "firebreak" road will follow historic routing and cross public lands to the main shear zone of the Atlanta Mine's private property. This road will also provide a firebreak to protect the forested north-facing slope of the Atlanta Mine landholdings. The North Slope is the area within which the historic Atlanta community is located. The Company has received approval for the construction of the private access road from the Atlanta Highway District (see news release dated December 12, 2012) and construction is expected in Q2-2013 and should take approximately three weeks to be completed.
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 kilometers) 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.
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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 continued implementation of the SPOO; the generation of a larger bulk sample and the achievement of recovery objectives; and the completion of construction of the access road. 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 successful and timely completion of sufficient additional financings by the Company and/or Atlanta Gold Corporation ("AGC"); the availability of requisite 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 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 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 for the Company to carry out its plans, achieve its business objectives and continue as a going concern; 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 reserve and resource estimates); operational and technical difficulties which could increase operating and/or capital costs; the implementation of additional penalties against AGC should payment of the penalty imposed by the Court in respect of water treatment not be achieved in the time permitted; 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; fluctuations in resource prices and currency exchange rates; 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.
SOURCE: Atlanta Gold Inc.For further information:
Atlanta Gold Inc.:
Wm. Ernest Simmons
President and CEO
Atlanta Gold Inc.
Vice President and CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
CHF Investor Relations
Senior Account Manager
Telephone: (416) 868-1079 ext 239
Fax: (416) 868-6198