Atlanta Gold intersects high grade gold at Atlanta property including 50.743 gpt Au over 1.5 metres and 5.088 gpt Au over 19.8 metres
TORONTO, Sept. 15, 2011 /CNW/ - Atlanta Gold Inc.
announces drill results from its 2011 shallow confirmation drilling program in the East Extension and Monarch areas on its Atlanta property in Idaho, with the highest gold value of 50.743 grams per tonne Au over 0.9 metres confirming the potential for higher grade gold mineralization both near the surface and at depth. Assay results of 3.0 grams per tonne (gpt) Au or higher included in holes D11206E01, D11093E12, D11106E14, D11106E18, D11105E19 and D11074E22 located in the East Extension area and holes D11042W03, D11036W11 and D11015W25 located in the Monarch area, are provided in the table below.
__________________________________________________________________________
| SHALLOW CONFIRMATION DRILL HOLES |
| ASSAYS GREATER THAN 3.000 GPT AU |
|__________________________________________________________________________|
| | | | | | Assays |
| | | | | |_____________|
| | | | | True | Gold |Silver|
| Hole | From | To | Width | Width | (gpt | (gpt |
| Identification |(Metres)|(Metres)|(Metres)*|(Metres)*| Au) | Ag) |
|______________________|________|________|_________|_________|______|______|
|D11206E01 | | | 1.5| | 3.326| 0.411|
| | 83.8| 85.3| | 1.3| | |
|______________________|________|________|_________|_________|______|______|
|D11042W03(1,2,3,4) | | | 19.8| | 5.088| 4.766|
| | 217.9| 237.7| | 9.1| | |
|______________________|________|________|_________|_________|______|______|
|D11036W11(5,6,7,8,9) | 208.8| 216.4| 7.6| 4.9| 5.280| 3.771|
|______________________|________|________|_________|_________|______|______|
| | 39.6| 41.1| 1.5| 0.8| 4.971| 1.611|
|D11093E12(10,11) |________|________|_________|_________|______|______|
| | 144.8| 150.9| 6.1| 3.0| 3.634|57.360|
|______________________|________|________|_________|_________|______|______|
|D11106E14 | 116.0| 117.0| 1.0| 1.1| 3.943| 0.514|
|______________________|________|________|_________|_________|______|______|
|D11106E18 | 175.3| 176.8| 1.5| 0.6| 5.760| 0.309|
|______________________|________|________|_________|_________|______|______|
| | 115.8| 118.9| 3.1| 1.7| 7.063|66.651|
|D11105E19(12) |________|________|_________|_________|______|______|
| | 222.5| 224.0| 1.5| 0.9|50.743|41.314|
|______________________|________|________|_________|_________|______|______|
|D11074E22(13,14) | 176.8| 179.8| 3.0| 1.5|11.074| 0.079|
|______________________|________|________|_________|_________|______|______|
| | 147.8| 150.9| 3.1| 2.0| 3.360| 3.189|
| |________|________|_________|_________|______|______|
|D11015W25 | 204.2| 208.8| 4.6| 2.9| 8.606|12.446|
|(15,16,17,18,19,20,21)|________|________|_________|_________|______|______|
| | 217.9| 222.5| 4.6| 2.9| 3.223| 0.583|
| |________|________|_________|_________|______|______|
| | 234.7| 239.3| 4.6| 2.9| 4.800| 0.960|
|______________________|________|________|_________|_________|______|______|
* 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 3.365 gpt Au
(2) Includes 1.5 metres of 21.795 gpt Au
(3) Includes 1.5 metres of 15.227 gpt Au
(4) Includes 1.5 metres of 6.240 gpt Au
(5) Includes 1.5 metres of 4.738 gpt Au
(6) Includes 1.5 metres of 4.407 gpt Au
(7) Includes 1.5 metres of 4.921 gpt Au
(8) Includes 1.5 metres of 5.769gpt Au
(9) Includes 1.5 metres of 6.478 gpt Au
(10) Includes 1.5 metres of 6.815 gpt Au
(11) Includes 1.5 metres of 6.046 gpt Au
(12) Includes 1.5 metres of 11.369 gpt Au
(13) Includes 1.5 metres of 16.258 gpt Au
(14) Includes 1.5 metres of 5.888 gpt Au
(15) Includes 1.5 metres of 3.111 gpt Au
(16) Includes 1.5 metres of 3.566 gpt Au
(17) Includes 1.5 metres of 21.141gpt Au
(18) Includes 1.5 metres of 3.376 gpt Au
(19) Includes 1.5 metres of 7.527 gpt Au
(20) Includes 1.5 metres of 12.636 gpt Au
(21) Includes 1.5 metres of 5.386 gpt Au
These assay results indicate that the Atlanta Shear Zone has significant high-grade zones.
The remainder of the drill results from 14 shallow condemnation and confirmation holes in the East Extension and Monarch areas did not return significant results but confirmed the outer limits of the proposed open pit shell.
The 2011 exploration program commenced in June 2011. More than 36,000 feet (10,973 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. Definition drilling is being conducted with infill holes to better define open pit and underground potential by increasing the density of drilling in mineralized zones which increases confidence in, and confirms continuity of, higher grade portions of the resource, and with step-out holes which test areas outside previously interpreted limits.
The Company is also investigating known mineralization systems in areas surrounding the main Shear, including the Tahoma Extension Vein and the historic Jessie Benton Mine which are north of the main Shear.
Qualified Person
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.
Forward-Looking Information
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.
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Atlanta Gold Inc.
CONTACT:
Atlanta Gold Inc.: Investor Cubed Inc.: CHF Investor
Relations:
Bill Baird Neil Simon Juliet Heading
Vice President & CFO Telephone: (647) Account Manager
Telephone: (416) 777-0013 258-3311, (888) 258-3323 Telephone: (416)
Fax: (416) 777-0014 Fax: (416) 363-7977 868-1079, extension
239
E-mail: info@atgoldinc.com E-mail: info@investor3.ca Fax: (416) 868-6198
E-mail: juliet@chfir.com