Atocha Acquires KO Gold - Silver Property
(via Thenewswire.ca)
September 5, 2012 - Vancouver, British Columbia, CANADA - Atocha Resources (the Company), TSX.V - ATT is pleased to announce the acquisition of the KO epithermal gold and silver property situated in the "Blackwater - Newton gold belt."
The KO Project is located in the Nechako Plateau region of central British Columbia and consists of seven contiguous claims totaling 3,409 hectares located approximately 125 kilometers to the west of Quesnel. The Property is in the same geological terrane, approximately 60 kilometers to the southeast of New Gold Inc.'s (TSX.V-NGD) Blackwater Gold Project which has 5.5 million ounces of indicated gold and 2.3 million ounces of inferred gold as stated in their March 7, 2012 press release via www.sedar.com.
The KO Property was staked using government regional airborne geophysical data in an area underlain by a 16 by 15 kilometer, magnetic high. This "mag high" may reflect a buried intrusion since geological maps of the area show interlayered rhyolite to andesite flows, flow breccias and minor volcaniclastic rocks. Phelps Dodge historical data from 1993/94 shows geophysical anomalies, both high resistivity and conductive zones which may reflect sulphidic zones in silica rich, altered bedrock or structures that could be related to gold / silver mineralization.
To earn a 100% interest, Atocha will issue 1,350,000 shares on TSX Venture Exchange approval and pay $1,323. If a joint venture or sale agreement is reached with a third party, an additional 650,000 shares will be payable to the arms length vendor. There is no NSR or work commitment.
The technical information in this news release has been reviewed by Peter Dimmell, P.Geo. a director of the Company and qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Properties, of the Canadian Securities Administrators.
The Company would also like to advise that it has discontinued its option to acquire a 100% undivided interest in the Atkinson project in Ontario.
Shareholders and Investors are encouraged to sign up to the Company mail list in order to receive timely updates. Please visit www.atocharesources.com or email info@atocharesources.com to add your contact details.
ABOUT ATOCHA
Atocha is a natural resources company engaged in the acquisition and exploration of mining/exploration properties, mainly for gold and other precious metals. The Company has a 100% undivided interest in the McGillivray Property, located in the Kamloops Mining Division of British Columbia. Atocha owns the Sol Riche and Tresor Nord/Sud REE properties in Montviel Township in Quebec, the Trove, Descouverte and Bijou gold properties in the Abitibi of Quebec, the Montpellier and St. Sixte graphite properties in the Grenville region of Quebec, and the Stubble gold property in Saskatchewan. The Strike 101-114 gold claims near Dawson City, Yukon are under option to Goldstrike Resources as announced on May 15, 2012.
For further information on Atocha, please refer to www.sedar.com.
For further information, please contact:
Marcy Kiesman, Chief Executive Officer
Telephone: 604.696.1111
Facsimile: 888.266.3983
E-mail: mmk@atocharesources.com
Website: www.atocharesources.com |
