Toronto, Ontario – Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) (the “Company”) today reported that further gold recovery process testing by Knife River Corporation (“KRC”) on material from the Company’s Atlanta project, in Idaho, has achieved higher recovery rates by reducing the grain size of the feed material to liberate gold and sulphides from unwanted gangue material. The process by which KRC reduces the size, but without grinding, is its own new proprietary technical application that is both cost effective and energy efficient.
By way of background, the Company has been working this year with KRC on ways to improve the gravity system’s mineral recovery on material obtained in the Company’s 107-ton bulk sample, which was completed in August 2012. The first testing of the pilot gravity recovery plant’s process provided anticipated results that free gold could be separated but gold attached to gangue material could not be easily recovered. Additional testing had determined that substantial size reduction would be required to liberate additional gold and minerals from unwanted gangue.
KRC embarked on an innovative method to achieve required size reduction without grinding to liberate gold and sulphides from the gangue materials. As material size is reduced, recovery percentages have increased.
Atlanta Gold’s President and CEO Wm. Ernest Simmons said, “The Knife River Corporation’s proprietary technical application that markedly reduces the feed grain size to the gravity recovery process is a significant step to advancing the Atlanta gold-silver project and could lead to a low cost gravity recovery system in the near future. Our next larger bulk sample will provide the data needed to define the final production flowsheet.”
“The objective for a 100:1 ratio of feed to concentrate with acceptable recovery rates is becoming a reality,” added Mr. Simmons, “and the metallurgical testing of the gravity recovery process will continue.” Detailed analysis of all samples required for a metallurgical balance of tested recoveries in future tests will be performed by a certified NI43-101 compliant laboratory.
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 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 with respect to the completion of additional tranches of the private placement financing and the intended use of proceeds from the financing. Such are based upon assumptions, opinions and analysis that management believe to be reasonable and relevant, including that definitive documentation will be entered into by additional investors in a timely manner such that the financing may be completed within the time permitted by the TSX Venture Exchange, and that there will be no significant decline in prevailing gold prices or in general economic and market conditions prior to subsequent closings of the financing. 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; fluctuations in resource prices and 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.
For further information contact:
Atlanta Gold Inc.:
Wm. Ernest Simmons
Atlanta Gold Inc.
CHF Investor Relations
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.