Atlanta Gold celebrates first anniversary with clean water
TORONTO, Dec. 3, 2013 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) (the "Company") celebrates the first anniversary of the ability of its subsidiary, Atlanta Gold Corporation ("AGC") ,to reach compliance with the United States Clean Water Act. The naturally occurring arsenic and iron emanating from the historic 900 Adit and cross-cut developed in 1917 has been arrested. Arsenic levels as high as 5,000 part per billion (ppb) and iron at 20,000 ppb have been reduced to less than 5 ppb and less than50 ppb, respectively, as a result of AGC's water treatment facilities.
"The only water treatment issue remaining is to complete the plan to manage the flow of water. To plug the 900 cross-cut and treat a controlled flow is paramount to continuing successful water treatment," President and CEO Wm. Ernest Simmons said. "In 2008, the Company initiated a plan to construct a water plug in the cross-cut. Now we have the opportunity to install a plug in the cross-cut in 2014 after six years of frustration," Simmons added.
"From arsenic of 5,000 ppb down to <5 and iron from 20,000 ppb down to <50 is worth a drink of clean Atlanta water," stated Simmons. Drinking water standards under the Clean Water Act are arsenic <10 ppb, solids <30 ppm and iron <1000 ppb. Recent test results from AGC's facilities indicate the following:
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 with respect to installation of the water plug in the cross-cut. Such are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments that management believe to be reasonable and relevant. These assumptions include the continued availability of sufficient funding, the availability of adequate equipment and manpower and the ability to achieve operating and cost objectives. 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; operational and technical difficulties which could delay or prevent completion of its initiatives; fluctuations in resource prices and currency exchange rates; operational and technical difficulties which could increase operating and/or capital costs; 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.
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SOURCE Atlanta Gold Inc.For further information:
Atlanta Gold Inc.:
Wm. Ernest Simmons
President and CEO
Atlanta Gold Inc.
Telephone: (416) 777-0013
Fax: (416) 777-0014
CHF Investor Relations
Director of Operations
Telephone: (416) 868-1079 ext. 225
Fax: (416) 868-6198