Atna Resources Ltd. (TSX:ATN / OTCBB:ATNAF) has reported positive results for the first half of the recently completed 2011 drill program at its Reward Gold Project, Nye County, Nevada.
Drilling began in mid-September and 15 drill holes totaling 8,880 feet have been completed. Analytical results have been received on the first seven drill holes.
Highlights of the drill results include:
- 65 feet (19.8 m) grading 0.079 oz/ton gold (2.72 g/t) in hole number RW11-023
- 70 feet (21.3 m) grading 0.026 oz/ton gold (0.89 g/t) in hole number RW11-024
- 230 feet (70.1 m) grading 0.021 oz/ton gold (0.72 g/t) in hole number RW11-026
- 200 feet (61.0 m) grading 0.032 oz/ton gold (1.10 g/t) in hole number RW11-027
"Early results from our September drilling program indicate that we have yet to define the limits of the Reward Gold deposit. Several of the holes have thicknesses and grades significantly better than the deposit's average and extend the known gold mineralization further to the east and southeast. These encouraging results justify additional drilling to further increase reserves and to increase the expected mine life at Reward," said James Hesketh, President & CEO.
The holes drilled and reported in this release encountered ore-grade intercepts over potentially minable intervals along the southern end and southeast edge of the deposit and currently designed pit limits. Mineralization in this portion of the deposit is hosted by one or more gentle easterly dipping receptive host-beds within the Cambrian Woods Canyon Formation phyllitic siltstones. The mineralized Woods Canyon has a thickness of up to 350 feet with 200 feet to 250 feet of the unit mineralized. Gold mineralization is associated with minor white bull quartz veining and fracture controlled and disseminated iron oxides after pyrite.
Reward is permitted for operation and Atna is currently developing site infrastructure in preparation for construction. The currently declared mineral resource at Reward, not including this latest drilling, is 11.0 million tons at a grade of 0.024 oz/ton, containing 259 thousand ounces of gold in the measured and indicated category, with an additional inferred resource of 2.8 million tons at a grade of 0.018 oz/ton, containing 51 thousand ounces. The Reward operation is expected to produce approximately 145,000 ounces of recovered gold over a five year mine life at an average life of mine waste-to-ore strip ratio of 2.8.