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TORONTO, Dec. 11, 2013 /CNW/ - Atlanta Gold Inc. (TSXV: ATG) (OTCQX: ATLDF) (the "Company") announced that its subsidiary, Atlanta Gold Corporation ("AGC") has completed the processing of the initial surface trench excavation samples recovered from east of the Monarch Shaft, located at the Atlanta property in Elmore County, Idaho.
As indicated in the Company's news release of November 27, 2013, using a Caterpillar 330 excavator, an estimated 30,000 tons of highly diluted material was exposed. More than 230 samples were taken from the excavated material that en masse will comprise the foundation of the mined ore pad upon which higher grade materials will be stockpiled when excavation continues. Assay results from the samples will be used to calculate the number of mineralized ounces comprised in the pad's 2014 foundation.
The samples were processed by Inspectorate America Corporation, Reno, Nevada using fire assay (FA) analytical methods. The samples ranged from 0.021 g/ton (<0.001 opt) to >10.0 g/ton (>0.292 opt) and included 149 samples at 1.032 g/t or 0.030 oz/t or greater. The average grade of the preceding samples was 2.690 g/t or 0.078 oz/t contained within the planned outline of the surface trench excavation. "The results obtained by Inspectorate were within the range expected by the Company and the Company believes that with the removal of the highly diluted surface area, there will likely be an increase in grade. The Shear Zone width is from 18.3 meters to 30.5 meters (60 to 100 feet) and standing vertical in the surface exposure" says Ernest Simmons President and CEO.
A composite of the above samples is being delivered to Inspectorate, Vancouver, to be used for metallurgical testing. The 2014 exploration project will determine the efficacy of a gravity recovery system to produce a concentrate. The concentrate will be transported to a Nevada facility for final processing by autoclave or roaster, followed by leaching then to a final bullion.
Eric Berentsen, a director of Atlanta Gold Inc. and a qualified person as defined by NI43-101, has reviewed and verified the technical information contained in this news release. Mr. Berentsen is a Registered Member of The Society for Mining Metallurgy and Exploration, Inc. (SME).
Quality Control and Assurance
Samples were handled and analyzed in accordance with NI 43-101 standards. Assaying was done by Inspectorate America Corporation of Sparks, Nevada, U.S.A. Samples were 30-gram fire assays of samples weighing approximate three pounds each. 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 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.
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 achievement of higher grades following removal of the surface material, testing of the gravity recovery potential and the timing thereof. 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; 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; 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
Email: [email protected]
Atlanta Gold Inc.
Telephone: (416) 777-0013
Fax: (416) 777-0014
Email: [email protected]
CHF Investor Relations
Director of Operations
Telephone: (416) 868-1079 x 225
Fax: (416) 868-6198
Email: [email protected]