ATW Gold Corp. (TSX VENTURE:ATW) has reported that Mutiny Gold Ltd. (MYG: ASX) has announced additional results from drilling at the Deflector Gold-Copper Deposit, on the Gullewa Property in Western Australia.
The program of 41 holes totalling 3,461 metres of reverse circulation ("RC") drilling was completed to convert part of the existing Indicated Resource to higher category Measured Resource.
Significant high-grade gold-copper intersections from the drill program include:
- 7m @ 19.2g/t Au and 9.4% Cu;
- 6m @ 17.4g/t Au and 4.8% Cu;
- 3m @ 32.8g/t Au and 13.4% Cu; and
- 3m @ 27.0g/t Au and 0.33% Cu.
Mutiny plans to carry out further drilling along the strike of Deflector in early 2011 to test mineralized extensions and high-grade drill intersections identified in earlier drilling.
Mutiny has received results for all 41 drill holes. Results received from this recent drilling are highly encouraging. Within the area of the preliminary planned pit, seven of sixteen holes drilled into the main lode, the West Lode, returned assays of significantly higher grade than was expected from the previous intersections in adjacent holes, with only four of the other holes returning significantly lower assays than expected.
Holes 10DRC25 and 26, drilled into the Central Lode also returned significantly stronger intersections than anticipated. The other holes drilled into the Central Lode returned, overall, similar results to previous drilling.
- 2m @ 11.9g/t Au and 0.98% Cu in 10DRC01;
- 3m @ 19.9g/t Au and 2.0% Cu in 10DRC02;
- 16m @ 15.3g/t Au and 6.0% Cu in 10DRC05;
- 10m @ 5.4g/t Au and 1.9% Cu in 10DRC06;
- 4m @ 24.9g/t Au and 10.1% Cu in 10DRC08;
- 3m @ 12.5g/t Au and 3.1% Cu in 10DRC09;
- 2m @ 27.2g/t Au and 0.42% Cu in 10DRC21;
- 10m @ 10.3g/t Au and 0.37% Cu in 10DRC 25; and
- 6m @ 16.0g/t Au and 2.2% Cu in 10DRC36.
All samples were submitted for preparation and analysis to SGS Australia Pty Ltd at its facilities in Newburn, Western Australia.
As announced in the Company's news release dated July 20, 2010, ATW entered into an agreement with Mutiny, whereby Mutiny can earn a 70% interest in the Gullewa Gold Project in Western Australia, by making exploration expenditures and paying to ATW Gold Corp Australia Pty Ltd, a total of AUD$9,000,000.
Gullewa is located 450 kilometres north of Perth, in the Yalgoo mineral fields of Western Australia. Gullewa is a 550 sq kilometre property that hosts several gold deposits of various size and grade, the most significant being the Deflector gold-copper deposit. which contains a measured and indicated resource of 369,000 ounces at 6.75 grams per tonne (g/t) gold equivalent ("AuEq") and an inferred resource of 400,000 ounces at 7.71 g/t AuEq (gold equivalent ounces, AuEq, are calculated using the ratio: 1% copper = 2.5 g/t gold and a cut-off grade of 1.0 g/t AuEq). Mining infrastructure assets at Gullewa include an 800 tonne per day CIL plant, a licensed tailings disposal facility, a 50-person camp, offices, and workshops.
This news release has been reviewed by Brent Butler, a Qualified Person as that term is defined in NI 43-101.
Source: ATW Gold Corp.