MacLoud, could you please comment on this announcement and property.
ATNA RESOURCES LTD. ANNOUNCES LOVELAND DRILLING
VANCOUVER, April 10 /CNW/ - Atna Resources Ltd. is pleased to announce
that drilling has commenced on its Loveland volcanogenic massive sulphide
(VMS) property located near Timmins, Ontario. Atna has the right to earn an
80% interest in D. Meunier's interest in certain claims, including claims held
by Placer Dome, by making cash payments totaling $60,000 and incurring
exploration expenditures of $500,000 by March 1, 2001, including $170,000 on
Placer's claims by June 1, 1997.
The property is underlain by felsic and mafic volcanic rocks of the
Abitibi greenstone belt that host major VMS deposits such as the Matagami,
Noranda, Chibougamau, Horne and Kidd Creek ore bodies. The Kidd Creek Mine,
located 15 km east of Atna's Loveland property, contains 130 million tons of
copper-lead-zinc-silver ore with a gross metal value of 14 billion dollars.
Previous exploration on the Loveland property has been hampered by an
extensive and thick cover of glacial overburden.
Atna plans to complete a program of eight to ten diamond drill holes that
would penetrate the overburden and test the underlying volcanic rocks for VMS
mineralization. Felsic volcanic rocks have been intersected in all five holes
drilled to date; down-hole geophysics is planned to test drill intersections
with VMS style alteration and mineralization. Results, including assays, will
be reported when the program is completed.
Peter R. DeLancey
President
Atna news releases are available on the Internet at: atna.com
The information contained herein has neither been approved nor
disapproved by any securities commission or stock exchange.
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For further information: Peter R. DeLancey, President at (604) 684-2285 |
