Tuesday, 18 October 2011

Atlanta Gold posts drill results at Idaho property showing low cost, bulk mining potential

Toronto-based Atlanta Gold (CVE: ATG) (OTCQX: ATLDF) announced Tuesday drill results from two additional holes in the Buffalo Mine zone of the Atlanta shear at its Atlanta property in Idaho, showing the potential for bulk mining zones at "intermediate depths".
The results are part of an ongoing drill program at the property.
In hole D11173W45, the company intersected 15.2 metres at 3.819 grams per tonne (g/t) of gold and 7.89 g/t silver, including 1.5 metres of 14.141 g/t gold and 34.39 g/t silver. The hole also intercepted 21.4 metres at 2.054 g/t gold and 1.14 g/t silver, including 1.5 metres of 5.837 g/t gold and 1.99 g/t silver.
In addition, hole D11151W51 returned 25.3 metres of 3.038 g/t gold and 1.71 g/t silver.
"These additional results continue to add to our confidence that there is significant potential for low cost intermediate depth bulk mining at Atlanta," said VP of mining and COO of the company, Ernest Simmons.
"The top of these mining blocks are relatively shallow, located immediately below the proposed pit bottoms at the Atlanta Project and easily accessible from short ramps."
The company said a new mining option is being developed as drilling continues to expand this zone along strike and at depth. Additional results are still pending for recently completed holes.
In July, P&E Mining Consultants completed a mineral resource estimate at the company's Atlanta gold project, which showed an indicated mineral resource of 686,600 gold ounces within 6.83 million tons at an average grade of 3.45 g/t and an inferred mineral resource of 282,400 gold ounces contained within 1.79 million tons at an average grade of 5.42 g/t.

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