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Attention Business Editors:
ATNA RESOURCES LTD. ANNOUNCES - EXPLORATION UPDATE - YGC OPTIONS
VANCOUVER, Sept. 18 /CNW/ - ATNA RESOURCES LTD. has received encouraging
assay results from its 1996 field programs on the Money, Argus and Wolf
properties which are under option from YGC RESOURCES LTD. Follow-up drill
programs are underway on the Money and Wolf properties, and follow-up work is
planned for Argus in 1997. Atna has an option to earn a 65% interest in each
of these properties by carrying out $1.5 million in exploration expenditures
per property over four years. The properties are located in the Finlayson Lake
area, Yukon Territory.
Argus
Significant assay results were obtained from an eight-hole drill program
totalling 909m on the Argus property, located 50 km west of Cominco's ABM
deposit. The Argus property is underlain by Devonian-Mississippian sedimentary
and volcanic stratigraphy correlative to that hosting the ABM and Atna/Westmin
Wolverine deposits.
Previous surveys at Argus identified a glacially dispersed,
lead-zinc-silver soil geochemical anomaly measuring 1.5 x 5.0 km extending
down-ice from till-covered regions of the property. Trenching within this area
of anomalous base metal geochemistry exposed disseminated and banded
lead-zinc-silver mineralization up to 3.47% zinc over 3.7m in outcrop.
The 1996 drill program successfully traced lead-zinc-silver
mineralization to areas of till cover, extending the zone of mineralization an
additional 900m up-ice. Significant results are tabulated below.
From To True Ag Pb Zn
Hole No. (m) (m) Width(m) (g/t) (%) (%)
----------------------------------------------------------------------
ARG 96-01 6.5 13.8 7.3 7.1 0.12 2.75
including 0.8 8.8 0.16 6.19
20.4 24.4 4.0 13.5 0.65 2.86
----------------------------------------------------------------------
ARG 96-02 24.3 39.3 15.0 11.0 0.75 2.67
including 1.6 14.4 0.68 9.69
----------------------------------------------------------------------
ARG 96-03 33.3 34.4 1.1 29.0 0.52 2.76
36.5 39.8 3.3 4.6 0.23 1.26
43.7 44.4 0.7 32.0 2.16 9.5O
56.6 63.7 7.1 13.1 0.03 2.23
including 0.4 13.4 0.02 9.67
65.6 71.2 5.6 8.2 0.42 2.23
including 0.7 5.8 0.01 6.77
----------------------------------------------------------------------
ARG 96-06 41.9 49.2 7.3 9.5 0.56 2.97
including 2.0 10.0 0.77 3.97
----------------------------------------------------------------------
ARG 96-07 34.7 44.8 10.1 18.7 0.86 3.26
----------------------------------------------------------------------
ARG 96-09 46.1 52.1 6.0 1.0 0.05 1.14
----------------------------------------------------------------------
Mineralization is open along strike in both the southeast and northwest
directions. Several strongly anomalous zones remain untested and the potential
for further mineralization is considered good.
Money
Atna has completed a first-phase, five-hole drill program totalling 682m
on the Money claims situated 5 km east of the Atna/Westmin Wolverine deposit.
Anomalous results were received from three holes; significant results are
listed below. Drill holes M96-3, 4 and 5 are collared from the same site.
Hole Azimuth Dip From To Drilled Au Ag Cu Zu
No. (degrees) (degrees) (m) (m) Width (m) (g/t) (g/t) (ppm) (%)
-------------------------------------------------------------------------
MON96-3 252 -50 67.1 75.5 8.4 0.06 2.80 1656 0.30
incl. 4.4 0.07 4.10 2316 0.25
-------------------------------------------------------------------------
MON96-4 252 -70 72.2 75.1 2.9 0.18 8.80 2504 0.42
incl. 1.0 0.41 20.60 8104 0.40
-------------------------------------------------------------------------
MON96-5 310 -45 87.8 91.3 3.5 0.20 11.40 3232 0.39
incl. 1.5 0.43 24.25 7041 0.71
-------------------------------------------------------------------------
These intersections are hosted by siliceous-sericitic and pyritic lapilli
tuff. Alteration and mineralization textures suggest these zones may be
semi-concordant footwall alteration pipes. The contacts of these zones exhibit
stockwork mineralization hosting up to 40% disseminated to massive pyrite.
The intersection from holes MON96-3 4, 5 remain open to extension in all
directions; a second phase drill program is to begin immediately to further
test these intersections down-dip and along strike, as well as several other
geophysical and geological targets.
Wolf
The Wolf project is located 50 km southwest of Cominco's ABM deposit
within Devono-Mississippian intermediate to felsic volcanic and intercalated
sedimentary stratigraphy. Previous work had identified a significant lead
(>100 ppm), zinc (>300 ppm), silver (>0.6 ppm) soil geochemical anomaly
measuring 100-700 x 4000m. Within the soil anomaly, bedded barite hosting
stratiform pyrite, sphalerite and galena mineralization occur as fine
disseminations which report up to 4.7% Zn, 1.8% Pb, 41.1 g/t Ag.
Following up on 1995 field results, Atna has discovered a significant new
showing of bedded barite hosting disseminated and wispy to massive galena
mineralization. Three hand trenches were completed, exposing bedded and
mineralized barite over a strike length of 25.5m and varying in width from
4.3m in the east to 7.0m to the west. Assay results from chip sampling has
returned the following.
Location Width (m) Lead (%) Silver (g/t)
-------------------------------------------------------------
Trench-1 4.3 1.5 80.0
Trench-2 5.5 3.2 110.7
Trench-3 7.0 1.2 64.5
---------------------------------------------------------------
Based on these encouraging results, a drill has been mobilized to the
property to test both the down-dip and open on-strike extension of the
horizon.
The information contained herein has neither been approved nor
disapproved by any securities commission or stock exchange.
For further information: Rick Kemp, Exploration Manager (604) 684-2285
08:32e 18-SEP-96
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