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:
Trench Identification | Average Width | Cut-Off Grade | Weighted Average Sample Grade |
Feet | Meters | opt Au | gpt Au | opt Au | gpt Au |
Trench 5
|
42.0
|
12.8
|
0.030
|
1.03
|
0.077
|
2.64
|
Trench T7
|
43.0
|
13.1
|
0.030
|
1.03
|
0.109
|
3.74
|
Trench 4
|
55.0
|
16.8
|
0.030
|
1.03
|
0.074
|
2.54
|
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 8
|
93.0
|
28.3
|
0.030
|
1.03
|
0.155
|
5.31
|
Trench T2
|
52.0
|
15.8
|
0.030
|
1.03
|
0.091
|
3.12
|
Trench 6
|
25.0
|
7.6
|
0.030
|
1.03
|
0.763
|
26.16
|
Trench T4
|
28.0
|
8.5
|
0.030
|
1.03
|
0.135
|
4.63
|
Trench T5 & 7
|
37.0
|
11.3
|
0.030
|
1.03
|
0.160
|
5.49
|
Totals | 0.143 | 4.91 |
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.
Qualified Person
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.
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
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.
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.
<p> Atlanta Gold Inc.: </p> <p> Bill Baird<br/> Vice President and CFO<br/> Telephone: (416) 777-0013<br/> Fax: (416) 777-0014<br/> E-mail: <a href="mailto:info@atgoldinc.com">info@atgoldinc.com</a> </p> <p> CHF Investor Relations: </p> <p> Juliet Heading,<br/> Senior Account Manager<br/> Telephone: (416) 868-1079, extension 239<br/> Fax: (416) 868-6198<br/> E-mail: <a href="mailto:juliet@chfir.com">juliet@chfir.com</a> </p>