TORONTO, Sept. 22, 2011 /CNW/ - Atlanta Gold Inc. (TSXV: ATG) (OTCQX: ATLDF) announces that its ongoing drill program at its Atlanta Project has intersected a new zone of strongly altered and mineralized material to the northeast of the existing Monarch zone. Highlights include: hole D11005W35 with 44.983 grams per tonne (gpt) Au over 1.1 metres and 5.623 gpt Au over 5.4 metres (including 15.29 gpt Au over 1.5 metres) and hole D11005W37 with 18.627 gpt Au over 7.6 metres (including 62.97 gpt Au over 1.5 metres and 3.531 gpt Au over 1.5 metres).
The three intermediate depth drill holes D11015W31 (438.6 metres), D11005W35 (448.1 metres) and D11005W37 (602.3 metres) were drilled in a new area to the northeast of the Atlanta Shear Zone to test for northwesterly-trending splays or zones north of the main shear. Hole D11015W31 intersected a strongly altered zone at 254 to 299 metres (core length) which had moderate quartz veining and disseminated sulphides. The gold-silver mineralization, while not exceeding 3.00 gpt Au, has been interpreted to be the new North 2 Zone. Hole D11005W35 drilled parallel to, and 76 metres to the southeast of D11015W31 intersected two strongly altered interval zones which included the intervals reported in the table below. Both intervals are reported as being part of the new North 2 Zone. Hole D11005W37 was drilled below D11015W31, and penetrated a wide zone of alteration and mineralization and included the higher grade interval reported below. This is interpreted as being part of the new North 2 Zone. More work is required to determine the extent and potential of the new North 2 Zone.
Assay results of 3.0 gpt Au or higher included in holes D11005W35 and D11005W37 are provided in the table below.
|INTERMEDIATE DEPTH DRILL HOLES
ASSAYS GREATER THAN 3.000 GPT AU
* True widths are estimates based on current available data and may be subject to change.
** Assays of less than 3.000 gpt Au have not been reported.
|(1)||Includes 1.5 metres of 4.73 gpt Au|
|Includes 1.5 metres of 15.29 gpt Au|
|Includes 1.5 metres of 3.40 gpt Au|
|(2)||Includes 1.5 metres of 7.76 gpt Au|
|Includes 1.5 metres of 62.97 gpt Au|
|Includes 1.5 metres of 5.08 gpt Au|
|Includes 1.5 metres of 4.02 gpt Au|
|Includes 1.5 metres of 46.34 gpt Au|
|Includes 1.5 metres of 20.10 gpt Au|
|Includes 1.5 metres of 23.14 gpt Au|
|Includes 1.5 metres of 14.08 gpt Au|
|(3)||Includes 1.5 metres of 6.39 gpt Au|
The 2011 exploration program commenced in June 2011. More than 40,000 feet (12,200 metres) of up to 60,000 feet (18,300 metres) of drilling has been completed to date and assays are currently pending for a number of drill holes. The program is focused on the Atlanta Shear Zone which has a surface expression that is 11,400 feet (3,475 metres) long, 30 to 120 feet (9 to 37 metres) wide and extends from surface to a known vertical depth of 2,000 feet (610 metres) with numerous splays branching off to the northwest and southeast of the main Shear.
Information of a technical nature in this news release regarding Atlanta has been reviewed by Edward D. Fields who is a designated "Qualified Person" under NI 43-101. Mr. Fields is a Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc.
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. Samples were 30-gram fire assays of split NQ-sized core (1⅞ inches in diameter). Quality control and assurance of the analytical results is maintained by inserting standards, blanks, and duplicates into the sample run, approximately every twenty samples at the project site.
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 kilometres) located 90 air kilometres 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 exploration results received. 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 availability of adequate financing and the ability to achieve operating cost estimates. 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 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); insufficient funding or delays in raising additional financing on satisfactory terms; 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 hazards, changes in laws or regulations and the risk of obtaining necessary 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.
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.:||Investor Cubed Inc.:||CHF Investor Relations:|
Vice President & CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
Telephone: (647) 258-3311,
Fax: (416) 363-7977
Telephone: (416) 868-1079,
Fax: (416) 868-6198