GOLDEN, Colo., Aug. 11 /CNW/ -- Atna Resources Ltd. ("Atna") - (TSX: ATN)
is pleased to announce an increase in gold resources at its Briggs Mine, Inyo
County, California, based on a recently completed mineral resource estimate.
The updated estimate incorporating recent drilling has resulted in an increase
in Measured and Indicated gold resources by 11% to approximately 678,815
contained ounces of gold (0.006 oz/ton gold cut-off). Additionally, the
Inferred gold resource increased by 34% to approximately 265,228 ounces of
contained gold (0.006 oz/ton gold cut-off).
The resource estimate was prepared by Alan Noble of Ore Reserve
Engineering, Lakewood, Colorado (principal author of the March 2009 Technical
Report filed with SEDAR). The new resource includes drilling completed in late
2008 through May 2009 and reflects the new Briggs Main Deep discovery
announced earlier in 2009.
"This latest round of drilling adds significantly to the mine's gold
resource base and our discovery costs remain low at approximately $7.50 per
resource ounce. Mine plan revisions are underway utilizing the new resource
block model, which may lead to either increased annual production or a longer
mine life for the project," states Jim Hesketh, President and CEO of Atna.
The following table compares the updated resource estimate to the
estimate announced earlier in 2009, adjusted to a 0.006 oz/ton gold cut-off
July 2009 Resource Update March 2009 Resource
Classifi- Tons (oz/ Ounces Tons (oz/ Ounces %
cation (x1,000) ton Au) Gold (x1,000) ton Au) Gold Change
Measured 12,166 0.0223 270,982 11,870 0.0229 271,854 -0.3%
Indicated 22,074 0.0185 407,833 16,628 0.0204 340,023 +19.9%
(1) 34,240 0.0198 678,815 28,499 0.0215 611,877 +10.9%
Inferred 15,370 0.0173 265,228 9,592 0.0206 198,030 +33.9%
(1) Rounding may cause totals to not precisely add up.
Gold production at the Briggs Mine commenced in May and is on track to
ramp up to a 40,000 ounce per year rate by the end of 2009. The mine produced
2,782 ounces of gold in May and June of the second quarter of 2009 and 1,756
ounces in July.
This press release was prepared under the supervision and review of
William Stanley, V.P. Exploration of Atna, a Licensed Geologist, and Qualified
Person. Additionally, the press release was reviewed by Alan Noble, P.E., of
Ore Reserve Engineering, of Lakewood, Colorado, a Qualified Person and
principal author of the NI 43-101 Technical Report on the Resources and
Reserves of the Briggs Mine, Inyo County, California, dated March 30, 2009 and
filed with SEDAR.
For additional information on Atna Resources and the Briggs Project,
please visit our website at www.atna.com.
This press release contains certain "forward-looking statements," as
defined in the United States Private Securities Litigation Reform Act of 1995,
and within the meaning of Canadian securities legislation, relating to
possible improvements to the outcome of an ongoing optimization study, and the
Company's production plans at the Briggs Mine based on technical reports
compliant with Canadian NI 43-101. Forward-looking statements are statements
that are not historical fact. They are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made and
they involve a number of risks and uncertainties. Consequently, there can be
no assurances that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements. The Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or opinions, or
other factors, should change. Factors that could cause future results to
differ materially from those anticipated in these forward-looking statements
include: the Company might encounter problems such as the significant
depreciation of metals prices; accidents and other risks associated with
mining exploration and development operations; the risk that the Company will
encounter unanticipated geological factors, the Company's need for and ability
to obtain additional financing; the possibility that the Company may not be
able to secure permitting and other governmental clearances necessary to carry
out the Company's mine development plans that will prevent it from expanding
mining operations at the Briggs Mine; and the other risk factors discussed in
greater detail in the Company's various filings on SEDAR (www.sedar.com) with
Canadian securities regulators and its filings with the U.S. Securities and
Exchange Commission, including the Company's Form 20-F dated March 25, 2008.
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings with the
SEC, to disclose only those mineral deposits that a company can economically
and legally extract or produce. We use certain terms in this report, such as
"measured," "indicated," "inferred," and "resources," that the SEC guidelines
strictly prohibit U.S. registered companies from including in their filings
with the SEC.
For additional information on Atna Resources and the Briggs Mine, please
visit our website at www.atna.com.
FOR FURTHER INFORMATION, CONTACT:
James Hesketh, President and CEO - (303) 278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
For further information:
For further information: James Hesketh, President and CEO,
+1-303-278-8464, or Valerie Kimball, Investor Relations, 1-877-692-8182, both
of Atna Resources Ltd. Web Site: http://www.atna.com