Atna Resources, a gold mining company, has provided an update on the progress being made on its Pinson Mine located near Winnemucca, Nevada during the 1Q and 2Q of 2012.
The updates are as follows: nearly1,600 tons of oxide ore sample has been processed and shipped at Twin Creeks Juniper mill; the Pinson NI 43-101 technical report that provides a comprehensive information on underground minable reserves was released on May 31, 2012; in the Mag pit field, large diameter metallurgical core drilling has been completed and tenders are being secured for column leach and metallurgical test work; and a crushing facility and mobile surface tool have been purchased by the company to support underground backfill preparation, ore handling and other processes.
Atna Resources also submitted a modification of the existing Water Pollution Control Permit of Pinson to the Nevada Division of Environmental Protection for allowing an improved mining rate of about 400,000 tons of oxide ore per year. The company expects about a 6-month period to receive approval for the modification. Currently, secondary access has been completed by more than 75% and entire completion is expected to be over by July end. In addition, surface infrastructure is being enhanced to aid full-scale operation, including the commissioning of extra de-watering well capacity and construction of an assay laboratory, as well as upgrades to electrical systems.
Once the secondary access is completed, known ore zone will be developed and the ramp decline will be deepened. Based on the Pinson Technical Report, Atna anticipates a six-year mine life at Pinson. The mine will produce approximately 550,000 oz of gold at an average rate of about 90,000 oz annually.