TORONTO, June 19, 2012 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) announces that the Company's 2012 work program previously announced on June 6, 2012 will include excavating a bulk sample of approximately 150 tons of mineralized material from existing trenches along the surface of the Atlanta Shear Zone for processing off site. Based only on the amount of mineralized material sampled in the 2008, 2009 and 2010 trenching programs, the average grades for individual trenches within the area of interest ranged from 1.92 to 26.16 gpt Au (0.056 to 0.763 opt Au) and averaged 4.91 gpt Au (0.143 opt Au). The average grade of the bulk sample is anticipated to approximate the weighted average sample grade of the following trenches selected for the bulk sample:
|Average Width||Cut-Off Grade|| Weighted Average
|Feet||Meters||opt Au||gpt Au||opt Au||gpt Au|
|Trench T10 (N)||17.0||5.2||0.030||1.03||0.056||1.92|
|Trench T10 (S)||16.0||4.9||0.030||1.03||0.066||2.26|
|Trench 9 (N) & T3||26.0||7.9||0.030||1.03||0.090||3.09|
|Trench 9 (S) & T3||27.0||8.2||0.030||1.03||0.066||2.26|
|Trench T5 & 7||37.0||11.3||0.030||1.03||0.160||5.49|
The expected bulk sample results will pave the way for the planned 2012 exploration expanded trench evaluation and test processing of oxide and sulphide gold-bearing zones and further evaluation and test processing in subsequent years to determine the following:
- Continuity of grade both horizontally and vertically;
- Mining method and structural continuity;
- Selective mining protocol and grade control;
- Effective and efficient material handling;
- A processing flowsheet that will determine ultimate beneficiating procedures; and
- Scientific information required to meet the highest environmental quality and standards possible now and in the future.
The Company plans to begin the 2012 work program as soon as additional funding is obtained.
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 and a registered member of The Society for Mining, Metallurgy, and Exploration, Inc.
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 interpretation of the exploration results received to date; the completion of a bulk sample, the timing and the results of interpretation thereof. 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 accuracy of historical records, the accuracy of the Company's resource estimates and of the geological, metallurgical and price assumptions on which the estimates are based, the successful and timely completion of additional financings by the Company, the ability to achieve capital and operating cost estimates, the level and volatility of the price of gold, 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; the speculative nature of mineral exploration, development and mining (including uncertainties with respect to the interpretation of geology, continuity, size and grade estimates and recoverability of mineral reserves and resources); 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; fluctuations in resource prices and in currency exchange rates; 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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For further information:
Atlanta Gold Inc.:
Vice President and CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
E-mail: [email protected]
CHF Investor Relations:
Senior Account Manager
Telephone: (416) 868-1079, extension 239
Fax: (416) 868-6198
E-mail: [email protected]