Atlanta Gold announces results of 2009 surface exploration drilling program
at its Atlanta property in Idaho
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, July 13 /CNW/ - Atlanta Gold Inc. (TSX: ATG) announces the results from its 2009 6-hole 3,040-foot surface diamond core drilling program in the East Extension at its Atlanta gold property in Idaho. One hole intersected 5 feet of 0.549 ounces per ton (18.8 grams per tonne) Au. Definition drilling was conducted with infill holes to better define open pit and underground potential by increasing the density of drilling in mineralized zones which increases confidence in, and confirms continuity of, higher grade portions of the resource, and with step-out holes which test areas outside previously interpreted limits.
Assay results for the six drill holes in the 2009 surface drilling program are provided below with four assays above 0.10 opt (3.429 gpt) Au shown in bold italics.
------------------------------------------------------------------------- True Assay True Assay Hole From To Width Width (opt Width (gpt Identification (Feet) (Feet) (Feet) (Feet)* Au)(xx) (Meters)* Au) ------------------------------------------------------------------------- 336.0 341.0 5.0 3.5 0.024 1.1 0.823 ---------------------------------------------------------- 377.0 382.0 5.0 3.5 0.549 1.1 18.823 D09130E01(1) ---------------------------------------------------------- 488.0 490.0 2.0 1.4 0.111 0.4 3.806 ---------------------------------------------------------- 533.0 543.0 10.0 7.0 0.172 2.1 5.897 ------------------------------------------------------------------------- 263.0 273.0 10.0 7.0 0.035 2.1 1.200 ---------------------------------------------------------- 303.0 308.0 5.0 3.5 0.021 1.1 0.720 D09140E02 ---------------------------------------------------------- 343.0 348.0 5.0 3.5 0.031 1.1 1.063 ---------------------------------------------------------- 468.0 488.0 20.0 14.0 0.035 4.3 1.183 ------------------------------------------------------------------------- 123.0 128.0 5.0 3.5 0.047 1.1 1.611 ---------------------------------------------------------- 133.0 138.0 5.0 3.5 0.027 1.1 0.926 D09145E03 ---------------------------------------------------------- 148.0 153.0 5.0 3.5 0.023 1.1 0.789 ---------------------------------------------------------- 163.0 173.0 10.0 7.0 0.062 2.1 2.126 ------------------------------------------------------------------------- 323.0 333.0 10.0 7.0 0.026 2.1 0.874 ---------------------------------------------------------- 383.0 388.0 5.0 3.5 0.028 1.1 0.960 ---------------------------------------------------------- D09125E04(2) 393.0 398.0 5.0 3.5 0.031 1.1 1.063 ---------------------------------------------------------- 448.0 453.0 5.0 3.5 0.287 1.1 9.840 ---------------------------------------------------------- 498.0 508.0 10.0 7.0 0.028 2.1 0.960 ------------------------------------------------------------------------- 248.0 273.0 25.0 17.5 0.041 5.3 1.413 D09085E05 ---------------------------------------------------------- 288.0 293.0 5.0 3.5 0.061 1.1 2.091 ------------------------------------------------------------------------- 299.0 344.0 45.0 31.5 0.024 9.6 0.809 D09075E06 ---------------------------------------------------------- 344.0 368.0 24.0 16.8 0.038 5.1 1.29 ------------------------------------------------------------------------- * True widths are estimates based on current available data and may be subject to change. (xx) Assays of less than 0.02 opt Au have not been reported. (1) Includes 5.0 feet of 0.549 opt (18.823 gpt) Au Includes 2.0 feet of 0.111 opt (3.806 gpt) Au Includes 10.0 feet of 0.172 opt (5.897 gpt) Au (2) Includes 5.0 feet of 0.287 opt (9.840 gpt) Au
As previously announced, the Company completed in March 2009 an internal NI 43-101 Technical Report and Resource Estimate which estimated the total Measured and Indicated resource for Atlanta to be 3.0 million tons above cut-off grades of 0.05 ounces per ton (opt) gold for the mini-pit resource and 0.10 opt gold for the underground resource with an average grade of 0.154 opt gold and 0.357 opt silver, that contain 460,338 ounces of gold and 1,069,900 ounces of silver, respectively, or approximately 474,900 equivalent ounces of gold (including silver resources as a gold equivalent). The objective of the Company's 2010 exploration program is to increase the gold mineral resource inventory at Atlanta by the end of 2010.
Drilling to date has extended the length of the Atlanta Shear Zone to 11,400 feet (3.5 kilometres) and the zone remains open to the east and west. The majority of the current Measured and Indicated 474,900-gold equivalent ounce resource (including silver resources as a gold equivalent), as estimated by the Company's March 2009 NI 43-101 Technical Report and Resource Estimate, is located between the surface and the 6,400-foot elevation (a vertical depth of 800 feet from the top of Atlanta Hill).
Surface exploration drilling to date has identified several excellent exploration targets for resource expansion. A follow-up 2010 surface drilling program is underway to determine the extent of these targets. The 2010 exploration program is currently focused on the Atlanta Shear Zone which has a surface expression that is 11,400 feet (3,475 metres) long, 30-120 feet (9-37 metres) wide and extends from surface to a known vertical depth of 1,850 feet (564 metres) with numerous splays branching off to the northwest and southeast of the main Shear. The Company is also investigating possible satellite mineralization systems in areas surrounding the main Shear, including the Tahoma structure which is located approximately half a mile north of the main Shear and half a mile south of the town of Atlanta.
Qualified Person
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 lab that has operated in Nevada for more than 10 years. Samples were 30-gram fire assays of split NQ-sized core (1 7/8 inches in diameter).
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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For further information: Atlanta Gold Inc.: Bill Baird, President and CEO, Telephone: (416) 777-0013, Fax: (416) 777-0014, E-mail: [email protected]; Investor Cubed Inc.: Neil Simon, Telephone: (647) 258-3310, (888) 258-3323, Fax: (416) 363-7977, E-mail: [email protected]; CHF Investor Relations: Christopher Haldane, Account Manager, Telephone: (416) 868-1079, Fax: (416) 868-6198, E-mail: [email protected]
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