Atlanta Gold Extends New Zones North of Main Atlanta Shear
TORONTO, Oct. 26, 2011 /CNW/ - Atlanta Gold Inc.,
announces continued progress in extending new North Zones 1 and 2 located approximately 427 metres north west of the Atlanta Shear Zone. The combination of surface grab sample results (Table 1), new drill hole results (Table 2) and drill hole results previously announced on September 22, 2011 (Table 3) indicate the potential of these zones which are additional to the main Atlanta Shear. A grab sample containing visible gold has been excluded.
__________________________________________________________________
| TABLE 1 |
| SURFACE SAMPLING RESULTS FOR NEW NORTH ZONE 2 |
|__________________________________________________________________|
|Sample| Assay | |Sample| Assay | |
|Number|(gpt Au)| |Number|(gpt Au)| |
|______|________|________________|______|________|_________________|
|601510| 2.91|Chip vein-2 feet|601515| 1.41|Adit dump grab |
|______|________|________________|______|________|_________________|
|601511| 6.89|Chip vein-2 feet|601516| 6.27|Prospect pit grab|
|______|________|________________|______|________|_________________|
|601512| 0.24|Chip vein-3 feet|601517| 7.23|Prospect pit grab|
|______|________|________________|______|________|_________________|
|601513| 6.51|Adit dump grab |601518| 6.14|Prospect pit grab|
|______|________|________________|______|________|_________________|
|601514| 3.36|Adit dump grab | |
|______|________|________________|_________________________________|
Seven holes were drilled northeasterly from collars north of the main Atlanta Shear and the drill results (Table 2) indicate the potential for additional zones and the need for further work.
_______________________________________________________________________________________
| TABLE 2 |
| DRILL RESULTS FOR NEW NORTH ZONES 1 AND 2 |
|_______________________________________________________________________________________|
| | | | | | | | | Alteration and |
| | | | | | | | | Mineralization |
| | New | | | | True |Assay|Assay|_________________|
| Hole |North| From | To | Width | Width |(gpt |(gpt | From | To |
|Identification|Zone |(Metres)|(Metres)|(Metres)|(Metres)*| Au) | Ag) |(Metres)|(Metres)|
|______________|_____|________|________|________|_________|_____|_____|________|________|
|D11036W23 | Zone| 118.9| 123.4| 4.5| 3.2| 0.77| 0.88| 118.0| 130.5|
| | 1| | | | | | | | |
|______________|_____|________|________|________|_________|_____|_____|________|________|
| | Zone| 251.5| 259.1| 7.6| 5.4| 0.74| 1.76| 232.3| 273.4|
| | 2| | | | | | | | |
|D11015W31 |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 350.5| 352.0| 1.5| 1.1| 0.85| 0.34| 335.0| 356.6|
| |2 | | | | | | | | |
|______________|_____|________|________|________|_________|_____|_____|________|________|
| | Zone| 6.1| 9.1| 3.0| 2.2| 1.06| 6.80| 6.1| 9.1|
| | 1| | | | | | | | |
| |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 59.4| 61.0| 1.6| 1.1|37.19| 5.10| 56.1| 64.6|
| |1 | | | | | | | | |
| |_____|________|________|________|_________|_____|_____|________|________|
|D11005W35 |Zone | 167.6| 172.2| 4.6| 3.2| 1.38|64.07| 163.7| 172.8|
| |1 | | | | | | | | |
| |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 335.3| 342.9| 7.6| 5.4| 4.65|15.03| 329.8| 352.7|
| |2 | | | | | | | | |
| |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 413.0| 422.1| 9.1| 6.5| 1.42| 0.57| 401.7| 422.1|
| |2 | | | | | | | | |
|______________|_____|________|________|________|_________|_____|_____|________|________|
| | Zone| 54.9| 57.9| 3.0| 1.5| 0.84| 0.57| 39.9| 64.6|
| | 1| | | | | | | | |
| |_____|________|________|________|_________|_____|_____|________|________|
|D11005W37 |Zone | 126.5| 141.7| 15.2| 7.6|15.40| 3.69| 127.7| 143.9|
| |1 | | | | | | | | |
| |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 536.4| 539.5| 3.1| 1.5| 2.92| 2.27| 524.3| 541.6|
| |2 | | | | | | | | |
|______________|_____|________|________|________|_________|_____|_____|________|________|
|D11007W47 | No Significant Assays |
|______________|________________________________________________________________________|
| | Zone| 253.6| 262.1| 8.5| 4.3| 0.96| 0.28| 254.2| 262.1|
| | 2| | | | | | | | |
|D11007W49 |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 414.5| 419.1| 2.4| 1.2| 1.71| 0.28| 414.5| 419.4|
| |2 | | | | | | | | |
|______________|_____|________|________|________|_________|_____|_____|________|________|
| | Zone| 303.3| 305.7| 2.4| 1.7| 3.24| 1.13| 303.3| 305.7|
| | 2| | | | | | | | |
|D11007W55 |_____|________|________|________|_________|_____|_____|________|________|
| |Zone | 359.7| 365.8| 6.1| 4.3| 0.94| 0.85| 358.4| 367.3|
| |2 | | | | | | | | |
|______________|_____|________|________|________|_________|_____|_____|________|________|
* True widths are estimates based on current available data and may be subject to change.
The surface sampling consisted of approximately five pound (two kilogram) samples collected from historic caved prospect pits and dumps of collapsed underground workings localized along a structural shear / quartz vein zone that appears to be approximately three to six metres wide. The strike length is unknown due to the covered nature of the terrain. The sampling was exploratory in nature in order to confirm the presence or absence of gold in the structure and assist in the location of an exploration drill hole.
Seven holes were drilled northeasterly from collars north of the main Atlanta Shear to explore for additional veins or splays of interest. The results from this drilling (Table 2 above) indicate the potential for additional zones and the need for further work. Intersections are from areas consistent with new North 1 and 2 Zones.
Exploration drill hole D11007W55 was collared approximately 244 metres southeast of the surface sampling area, and drilled toward and beneath this area at minus 45 degrees. The hole penetrated an 8.8 metre wide zone with strong alteration including quartz veins with fine-grain iron sulfides. The zone of alteration can therefore be projected to extend from a vertical depth of 366 metres to the surface within the sampled area.
The new surface sampling and drill results in Tables 1 and 2 complement the following drill results in Table 3 which were previously announced in a news release dated September 22, 2011:
________________________________________________________________________
| TABLE 3 |
| DRILL RESULTS FOR NEW NORTH ZONES 1 AND 2 |
| (NEWS RELEASE DATED SEPTEMBER 22, 2011) |
|________________________________________________________________________|
| | | | | | | Assays |
| | | | | | |______________|
| | New | | | | True | Gold |Silver|
| Hole |North| From | To | Width | Width |(gptAu)| (gpt |
|Identification|Zone |(Metres)|(Metres)|(Metres)|(Metres)*| | Ag) |
|______________|_____|________|________|________|_________|_______|______|
| |Zone | 59.4| 61.0| 1.6| 1.1| 44.983| 6.000|
| | 1 | | | | | | |
| D11005W35 |_____|________|________|________|_________|_______|______|
| |Zone | 335.3| 342.9| 7.6| 5.4| 5.623|18.089|
| | 2 | | | | | | |
|______________|_____|________|________|________|_________|_______|______|
| |Zone | 126.5| 141.7| 15.2| 7.6| 18.627| 4.286|
| | 1 | | | | | | |
| D11005W37 |_____|________|________|________|_________|_______|______|
| |Zone | 536.4| 539.5| 3.1| 1.5| 3.531| 2.811|
| | 2 | | | | | | |
|______________|_____|________|________|________|_________|_______|______|
* True widths are estimates based on current available data and may be subject to change.
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
Samples are handled and analyzed 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 at the laboratory by inserting standards, and blanks, into the sample run.
The Company does not follow the same protocol with surface samples as with drill core due to the exploratory nature of the surface sampling. Surface samples are used as a guide for exploration drilling targets or detailed trench sampling.
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.
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.
Atlanta Gold Inc.
CONTACT:
Atlanta Gold Inc.: Investor Cubed Inc.:
CHF Investor Relations:
Bill Baird Neil Simon
Juliet Heading
Vice President & CFO Telephone: (647)
Senior Account Manager
Telephone: (416) 777-0013 258-3311,
Telephone: (416)
Fax: (416) 777-0014 (888) 258-3323
868-1079,
E-mail: info@atgoldinc.com Fax: (416) 363-7977
extension 239
E-mail: info@investor3.ca Fax: (416) 868-6198
E-mail: juliet@chfir.com
