TORONTO, July 5, 2012 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) announces that 145 tons of bulk sample material from surface trenches at the Atlanta project, across the Main Shear Zone immediately east of the Monarch Shaft, have been delivered to, and are being stockpiled at test processing facilities in Boise, Idaho. Test processing and sample results are expected in the third quarter of 2012.
"The bulk sample initiates the testing required to determine the viability of using a pilot-scale test processing plant which would not use chemicals to concentrate the oxide and sulphide open pit materials. If successful, water would be the only liquid used in on-site processing," said Wm. Ernest Simmons, President and CEO of the Company. Details of the 2012 work program and trench sampling results were previously announced in the Company's news releases of June 6th and 19th.
"We also took the opportunity on return trips to the mine site to deliver 128 tons of bedding chips / filter rock and this filter material will be used for improvements to the quality of water drainage from the historic mine 900 Adit being treated at the Pilot Water Treatment Facility (PWTF)," added Simmons.
The Company's 2012 Supplemental Plan of Operations (SPOO) and Remedial Action Plan (RAP) are expected to be initiated, subject to approval, by the U.S. Forest Service in July 2012.
Inspectorate America Corporation of Sparks Nevada will provide the bulk sample concentrate results using fire assay method. The facility is ISO certified 9001:2008.
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. All statements, other than statements of historical fact, are forward-looking statements. We use words such as "may", "intend", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements, including with respect to the commencement of test processing, the time to receive the results therefrom and the receipt of regulatory approval of the SPOO and RAP. Such are based upon assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the successful and timely completion of additional financings by the Company, the ability to achieve capital and operating cost estimates, an outcome favorable to the Company's subsidiary in certain environmental litigation and general business and economic conditions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our 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 achieve its business objectives and continue as a going concern; operational and technical difficulties; 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.
For further information:
Atlanta Gold Inc.
Wm. Ernest Simmons
President and CEO
Telephone: (208) 424-3343
Fax: (208) 338-6513
Atlanta Gold Inc.
Vice President and CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
CHF Investor Relations
Senior Account Manager
Telephone: (416) 868-1079 ext. 239
Fax: (416) 868-6198