Tuesday, 15 January 2013

Meadow Bay Gold: Work on new resource estimate for Atlanta gold project nearly done

Meadow Bay Gold (TSE:MAY) updated investors today on itsAtlanta Gold mine project in Nevada, saying work on a new resource estimate was nearly done.
Also, the Bureau of Land Management has determined the company's exploration plan for the former producing mine will not cause "undue environmental degradation" and it has set a reclamation bond, the company said in a statement.
The plan sees 69 additional drill pads, mainly in the Western Knolls area, which has never been tested with drilling and represents a large attractive exploration target.
Meadow Bay added that independent consultants, Gustavson Associates has nearly finished work related to a new NI43 101 resource estimate and technical report.
Also today, the firm announced that its interim chief executive Alexander Khutorsky is resigning, while chairman Robert Dinning and former chief executive will resume the role of CEO.
Khutorsky will remain a director of the firm, which also announced today that Atlanta mine project manager Dr Douglas Oliver will be appointed vice president of exploration.
Permitting for the next round of drilling at the project is currently ongoing.

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