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TORONTO, June 10, 2014 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) (the "Company") today announced that its wholly owned subsidiary, Atlanta Gold Corporation is committing to the acquisition of the gold processing equipment as outlined on the following flow-sheet. With completion of road maintenance in June of 2014 enabling a safer access to the Atlanta exploration trench, a contractor will excavate and crush a bulk sample to -50 mesh and stockpile the sample for processing by the Company.
The results of the bulk sample testing will determine the ultimate design of the future process plant and recovery.
To review the flow-sheet, please visit: http://atgoldinc.com/images/PDF/Flow_Sheet_Table_May_2014.pdf
- The gold mineralized material will be mined and crushed to -50 mesh by a contractor and delivered to a feed bin at Atlanta Gold's process facility.
- The crushed material will be slurried and then fed to a Falcon SB centrifugal concentrator. Bench scale testing by Inspectorate Laboratories and Met-Solve Laboratories, both in Vancouver, B.C., show that recoveries greater than 42.5% of the total gold can be expected from the Falcon. This concentrate contains most of the free gold that will be shipped to a refinery.
- The tailings from the Falcon will be fed to a set of M-10 gravity tables developed by American Mining Services in Sandy, Oregon. They will produce a middlings concentrate that will contain mostly refractory sulphide mineralization.
- The tailings from the M-10 tables will be fed to a set of M-7 gravity tables for final clean concentrate recovery. The concentrate from the M-10 and M-7 tables will contain oxide and refractory mineralization that will be sent out of state for roaster or autoclave processing.
- Both the M-10 and M-7 gravity tables use only water in a closed circuit system, and gravity as a separation medium. Bench scale testing has shown that up to 40.3% of the total gold can be captured from these tables.
- The total gold recovered from both the Falcon and the M-10 and M-7 gravity separation was 82.8%. From an assumed 800 ton per day feed, it is expected to produce 49.9 ounces of gold per day. The total mass concentration rate was 50:1.
- Free gold will be shipped directly to a refinery while the remaining arsenic bearing refractory concentrate will be shipped out of Idaho for processing.
- The next phase of testing will be to use this flow sheet to process a large bulk sample.
Information of a technical nature in this news release regarding Atlanta has been reviewed by Eric J. Berentsen, Vice President, Atlanta Gold Corporation, who is a designated "Qualified Person" under NI 43-101. Mr. Berentsen is a Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc.
Quality Control and Assurance
Samples are selected and handled in accordance with NI 43-101 standards. Processing and assaying was completed by Inspectorate Exploration and Mining Services Ltd. of Vancouver, British Columbia, Canada, Met-Solve Laboratories, Inc, Langley, British Columbia, Inspectorate America Corporation, Sparks, Nevada and Action Mining Services Inc., Sandy, Oregon. 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 the completion of road maintenance, the acquisition of the process equipment, the completion of a bulk sample and the successful application of the process system to a bulk sample of gold mineralized material. Such are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors that management believe to be reasonable and relevant. These assumptions include those concerning the generation of an additional bulk sample, the achievement of recovery objectives, the completion of additional financings, the availability of 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 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 limited financial resources and its ability to raise sufficient funds on a timely basis to fund the capital and operating expenses necessary to carry out its planned 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; 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; 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.
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.
Image with caption: "PROPOSED ATLANTA FLOWSHEET (CNW Group/Atlanta Gold Inc.)". Image available at: http://photos.newswire.ca/images/download/20140610_C9243_PHOTO_EN_41223.jpg
SOURCE: Atlanta Gold Inc.
For further information:
Atlanta Gold Inc.:
Wm. Ernest Simmons
President and CEO
Fax: (208) 338-6513
Email: [email protected]
Atlanta Gold Corporation
Eric J. Berentsen
Telephone: (208) 424-3343
Fax: (208) 338-6513
Email: [email protected]
CHF Investor Relations
Director of Operations
Telephone: (416) 868-1079 ext. 225
Fax: (416) 868-6198
Email: [email protected]
To receive Company news via email, contact [email protected] and mention "Atlanta Gold News" in the subject line.