Ralph,I was talking to ATN's Investor Relations tonight and asked him the same question. I asked if a $1.00 rise was possible and he said it could be, but with this market it's hard to tell.
IMHO, it has to move the price significantly because:
1. with the reserves they have on the Wolverinre 7 the cash in the bank, the stock is undervalued
2. last year it reached a high of about $7+
3. They have already added to the resources this year
4. with Kudz Ze Kayah, Wolverine and now Wolf all in the same area a mine is quite probable, with reduced costs for all
5. we also have other properties in the area eg. Toe,Money, Foot, and Pac
6. and we have money in the bank!!!!!
All and all, the price has to go up!!!!!
ATNA MAKES SIGNIFICANT NEW DISCOVERY IN THE YUKON
VANCOUVER, Sept. 15 /CNW/ - Atna Resources Ltd. and YGC Resources Ltd.
are pleased to announce the discovery of a significant massive sulphide
deposit on the Wolf property (located 80 km south of Ross River, Yukon; 45 km
west of Cominco's Kudz Ze Kaya Deposit and 65 km west of the Atna/Westmin
Wolverine Deposit). The discovery hole WF 97-07 intersected massive sulphides
over a true width of 25.2 metres, ( 77.8 to 103.0 metres ) grading 6.9% zinc,
2.8% lead, and 138.6 g/t silver. Drill hole WF 97-08 was drilled 75 metres
down dip from WF 97-07 and intersected 15.6 metres (true width 12.8 metres) of
massive sulphide mineralization grading 5.1% zinc, 1.1% lead and 56.2 g/t
silver.
Drill hole WF 97-09, located 120 metres to the southeast of the discovery
hole, intersected a true width of 3.1 metres grading 5.0% zinc, 1.3% lead and
25.7 g/t silver and hole WF 97-10 intersected 2.3 metres grading 2.1% zinc,
0.8% lead and 38.9 g/t silver 75 metres down-dip from WF 97-09, indicating the
possible southeastern edge of the deposit. Holes WF 97-12, WF 97-13, WF 97-14
and WF 97-15 were drilled northwest of the discovery hole and all intersected
massive sulphide mineralization, assays are pending. Current results are
tabulated below.
<<
------------------------------------------------------------------------
Hole Interval True Thickness Zinc Lead Silver
From - To metres % % g/t
------------------------------------------------------------------------
WF 97 - 07 77.8 - 103.0 25.2 6.94 2.78 138.6
(including) 6.0 9.62 6.33 212.4
WF 97- 08 119.6 - 135.2 15.6 5.05 1.14 56.2
(including) 7.1 6.22 1.20 71.6
WF 97 - 09 120.9 - 124.0 3.1 4.97 1.30 25.7
WF 97- 10 132.7 - 135.0 2.3 2.09 0.83 38.9
------------------------------------------------------------------------
>>
To date, the deposit has been intersected in 9 drill holes indicating
that massive sulphide mineralization occurs over 500 metres in strike length
and 250 metres down-dip. The deposit is not exposed on surface and dips 45
degrees to the southwest. The deposit is open to expansion along strike to
the northwest, and both up and down-dip.
Additional mineral claims have been acquired in the favourable volcanic
belt.
Atna can earn a 65% interest in the Wolf property from YGC by incurring
exploration expenditures of $1.5 million over 5 years and by making cash
payments totaling $320,000. To date Atna has incurred exploration
expenditures of approximately $600,000 and made a cash payment of $20,000.
Atna Resources Ltd. is a well-financed Canadian mineral exploration
company with expertise in the recognition of under-explored geological
terrains with high potential for containing polymetallic base and precious
metal deposits. Atna's projects, including the world class Wolverine massive
sulphide deposit, are located in favourable volcanic belts in North America.
Atna trades on the Toronto Stock Exchange under the symbol ATN.
YGC Resources Ltd. is a Canadian mineral exploration company well on its
way to becoming a gold producer by reactivating production at its Ketza River
property in conjunction with BYG Natural Resources Inc. YGC Resources Ltd.
trades on the Vancouver Stock Exchange under the symbol YGC.
The information contained herein has neither been approved nor
disapproved by any securities commission or stock exchange.
-30-
For further information: ATNA RESOURCES LTD.: Peter DeLancey, President or
Michael Williams, Investor Relations, Tel: (604) 684-2285, E-Mail: atna(at)atna.com,
www.atna.com; YGC RESOURCES LTD.: Graham Dickson, President, Tel: (604)
689-4760, or Marla Dale, Investor Relations, Tel: (416) 868-1079
This press release concerns more than one organization.
To view releases from one of these organizations, please select from below.
ATNA RESOURCES LTD.
YGC RESOURCES LTD. |
