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
Jul 27, 2012
OTC Disclosure News Service
Toronto, ON, Canada –
ATLANTA GOLD INTERSECTS HIGH GRADE GOLD ATATLANTA PROPERTY INCLUDING 50.743 GPT AU OVER 1.5 METRES AND 5.088 GPT AU OVER19.8 METRES
Toronto, Ontario – Atlanta Gold Inc.(TSX: ATG; OTCQX: ATLDF) announces drillresults from its 2011 shallow confirmation drilling program in the EastExtension and Monarch areas on its Atlanta property in Idaho, with the highestgold value of 50.743 grams per tonne Au over 0.9 metres confirming thepotential for higher grade gold mineralization both near the surface and atdepth. Assay results of 3.0 gramsper tonne (gpt) Au or higher included in holes D11206E01, D11093E12, D11106E14,D11106E18, D11105E19 and D11074E22 located in the East Extension area and holesD11042W03, D11036W11 and D11015W25 located in the Monarch area, are provided inthe table below.
SHALLOW CONFIRMATION DRILL HOLES
ASSAYS GREATER THAN 3.000 GPT AU
* True widths are estimates based on current available dataand 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 1.5metres of 6.815 gpt Au
(11) Includes 1.5metres of 6.046 gpt Au
(12) Includes 1.5metres of 11.369 gpt Au
(13) Includes 1.5metres of 16.258 gpt Au
(14) Includes 1.5metres of 5.888 gpt Au
(15) Includes 1.5metres of 3.111 gpt Au
(16) Includes 1.5metres of 3.566 gpt Au
(17) Includes 1.5metres of 21.141gpt Au
(18) Includes 1.5metres of 3.376 gpt Au
(19) Includes 1.5metres of 7.527 gpt Au
(20) Includes 1.5metres of 12.636 gpt Au
(21) Includes 1.5metres of 5.386 gpt Au
Theseassay results indicate that the Atlanta Shear Zone has significant high-gradezones.
Theremainder of the drill results from 14 shallow condemnation and confirmationholes in the East Extension and Monarch areas did not return significantresults but confirmed the outer limits of the proposed open pit shell.
The2011 exploration program commenced in June 2011. More than 36,000 feet (10,973metres) of up to 60,000 feet (18,300 metres) of drilling has been completed todate and assays are currently pending for a number of drill holes. The programis focused on the Atlanta Shear Zone which has a surface expression that is11,400 feet (3,475 metres) long, 30 to 120 feet (9 to 37 metres) wide andextends from surface to a known vertical depth of 2,000 feet (610 metres) withnumerous splays branching off to the northwest and southeast of the main Shear.Definition drilling is being conducted with infill holes to better define openpit and underground potential by increasing the density of drilling inmineralized zones which increases confidence in, and confirms continuity of,higher grade portions of the resource, and with step-out holes which test areasoutsidepreviously interpreted limits.
TheCompany is also investigating known mineralization systems in areas surroundingthe main Shear, including the Tahoma Extension Vein and the historic JessieBenton Mine which are north of the main Shear.
Information of a technicalnature 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 theSociety for Mining, Metallurgy, and Exploration, Inc.
Drillsamples were handled and assayed in accordance with NI 43-101 standards. Assaying was done by InspectorateAmerica Corporation of Sparks, Nevada, U.S.A. Samples were 30-gram fireassays of split NQ-sized core (1⅞ inches in diameter). Quality control and assurance of theanalytical results is maintained by inserting standards, blanks, and duplicatesinto 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 compriseapproximately 2,159 acres (8.74 square kilometres) located 90 air kilometreseast of Boise, in Elmore County, Idaho. A long history of mining makes Atlantavery suitable for development of new mining projects. The Company is focused on advancing its coreasset, Atlanta, towards mine development and production.
This news release contains forward-looking information andforward-looking statements (collectively “forward-looking statements”) withinthe meaning of applicable securities laws. All statements, other thanstatements of historical fact, are forward-looking statements. We use wordssuch as “may”, “intend”, “will”, “should”, “anticipate”, “plan”, “expect”,“believe”, “estimate” and similar terminology to identify forward-lookingstatements, 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, currentconditions and its expectations of future developments as well as other factorswhich it believes to be reasonable and relevant. These assumptions include thoseconcerning the accuracy of historical records, the accuracy of the Company’sresource estimates and of the geological, metallurgical and priceassumptions on which the estimates are based, the availability of adequatefinancing and the ability to achieve operating cost estimates. Forward-lookingstatements involve known and unknown risks, uncertainties and other factorsthat may cause our actual results to differ materially from those expressed orimplied in the forward-looking statements and accordingly, readers should notplace undue reliance on those statements. Risks and uncertainties that maycause actual results to vary include, but are not limited to, the speculativenature of mineral exploration, development and mining (including uncertaintieswith respect to the interpretation of geology, continuity, size and gradeestimates and recoverability of mineral reserves and resources); insufficientfunding or delays in raising additional financing on satisfactory terms;operational and technical difficulties which could increase operating and/orcapital costs; risks and hazards associated with the business of mineralexploration, development and mining, including environmental hazards, changesin laws or regulations and the risk of obtaining necessary licenses andpermits; fluctuations in resource prices and in currency exchange rates;changes in general economic conditions and in the financial markets; as well asother risks and uncertainties which are more fully described in the Company’sannual and quarterly Management’s Discussion and Analysis and in other Companyfilings with securities and regulatory authorities which are available atwww.sedar.com. Should one or more risks and uncertainties materialize or shouldany assumptions prove incorrect, then actual results could vary materially fromthose 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 ofrisks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained inthis news release are made as of the date hereof and the Company undertakes noobligation to update publicly or revise any forward-looking statementscontained herein or in any other documents filed with securities regulatoryauthorities, whether as a result of new information, future events orotherwise, except in accordance with applicable securities laws.
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