Atlanta Gold Inc. (TSX V: ATG) announces drill results from its shallow confirmation drilling program in the East Extension area on its Atlanta property in Idaho, with the highest gold value of 1.267 ounces per ton (43.44 grams per tonne) Au over 5.0 feet (1.5 metres) confirming the potential for higher grade gold mineralization both near the surface and at depth.
Assay results for holes D10184E30, D10154E34 and D10154E36 located in the East Extension area are provided in the table below. Three assays above 0.10 opt (3.43 gpt) Au are shown in bold italics.
"Although assays are currently pending for a number of drill holes, we continue to be encouraged by recent drill results at the Atlanta property", said Bill Baird, President and CEO of the Company. "Drilling has intersected a number of mineralized zones of significant thicknesses at vertical depths down to 1,800 feet (548.6 metres) below surface and confirmed the presence of gold-bearing structures parallel to the main shear. With the current exploration program's recent focus on testing the upside potential on the deeper levels of the deposit, we will increase our knowledge with respect to continuity and grade of these zones. This will serve to further increase the confidence level associated with the Atlanta project and, we expect, increase our resource base." Meanwhile, all mineralized zones below a vertical depth of 1,800 feet (548.6 metres) below surface remain largely untested.
All assay results are length-weighted averages, weighting each assay interval according to the core length for that respective interval. All assay intervals above the cutoff grade of 0.020 opt (0.69 gpt) Au are included in the average. True widths of mineralization in these drill holes are not precisely known as there is insufficient drill hole density at this time to estimate true widths. True widths are estimated to be between 60% and 70% of the lengths of the drill intercepts. Each drill hole is oriented / angled from each side (i.e. north or south of the 30 to 120 foot [9 to 37 metre] wide Atlanta Shear Zone) to try to avoid underground workings. Where workings are intercepted and / or no core is recovered, grades of nil are assigned and those intervals of no value are separated from the weighted average grades.
The Company is continuing to drill shallow confirmation holes in the East Extension. It is also currently drilling the fifth intermediate depth hole from the south side of the Atlanta Shear in the Monarch area toward hole D10010E19 to obtain data just below the area immediately east of the Newmont zone (below the Monarch area), where holes D10010E19, D10026E13, and D10026E15 were lost in historic underground workings, to be followed by an additional intermediate depth hole on the north side of the shear in an open section in the eastern part of the Newmont zone. The drill may then be returned to the East Extension to drill one intermediate depth hole in the central part of the Glaspey zone (below the East Extension area).
The drill hole inventory to date represents detailed exploration of a small portion of the overall surface expression of the Atlanta Shear Zone on the property. Numerous other mineralized targets are evident, although they are less explored at this time. At the present time, the Company has only a few data points throughout the property on mineralization below a vertical depth of 800 feet, but this data indicates the existence of multiple wider gold-bearing mineralized zones and the potential for higher grades at depth.
To date in 2010, the Company has drilled 40 diamond drill holes totaling approximately 32,199 feet (9,814 metres) comprised of 36 shallow confirmation drill holes totaling 24,403 feet (7,438 metres) and four intermediate depth holes totaling 7,796 feet (2,376 metres). A minimum of 34 additional holes totaling approximately 22,000 feet (6,705 metres) are planned of which six holes totaling approximately 7,000 feet (2,134 metres) are expected to be intermediate depth holes.
Information of a technical nature in this news release regarding the Atlanta gold project has been reviewed by William (Bill) L. Josey who is a designated "Qualified Person" under NI 43-101. Mr. Josey is a registered professional geologist in the State of Arizona.
Quality Control and Assurance
Drill samples were handled and assayed in accordance with NI 43-101 standards. Assaying was done by Inspectorate America Corporation of Sparks, Nevada, U.S.A. Inspectorate is a well known international laboratory that has operated in Nevada for more than 10 years. Samples were 30-gram fire assays of split NQ-sized core (1? inches in diameter). The NQ diameter drill-core samples were split in half; one half was retained in its original core box and the second half was sent to Inspectorate. Quality control and assurance of the analytical results is maintained by inserting standards, blanks, and duplicates into the sample run, for approximately every twenty samples at the project site.
Source: Atlanta Gold Inc.