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Gold/Mining/Energy : ATNA ( v.atn t.atn)
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To: Chuca Marsh who wrote (188)12/15/1997 2:40:00 PM
From: Kent C.  Read Replies (1) of 509
 
Dec. 15 - ATN.TSE - JOINT VENTURE AGREEMENT WITH FALCONBRIDGE DRILLING TO COMMENCE ON TEMAGAMI VMS PROPERTIES

From: Subject 17869

VANCOUVER, Dec. 15 /CNW/ - Atna Resources Ltd. and Falconbridge Limited
have signed an Option / Joint Venture Agreement on several mineral properties
in the Temagami area of Ontario. The properties, comprising 135 mining
claims, are underlain by Archean volcanic and sedimentary rocks similar to
those hosting Falconbridge's large polymetallic Kidd Creek Mine near Timmins.
Falconbridge acquired the claims in September 1996 in a staking rush
following the lifting of the Teme-Augama Land Caution which had effectively
imposed a 23 year ban on exploration in the Temagami Greenstone Belt. Initial
exploration including magnetometer, electromagnetic (Max-min) and geological
surveys, lithogeochemical sampling and limited drilling have outlined several
attractive drill targets characterized by coincident magnetic anomalies and EM
conductors in areas of highly altered and mineralized rhyolitic rocks.
The most significant geophysical target is on the Kibble Lake grid where
a strong coincident EM/mag anomaly was identified. The EM response is
extremely conductive and the source is interpreted to be a massive sulphide
body. Drill testing of this priority target will commence this week.
Atna can earn up to a 60% interest in the Temagami properties by spending
$1.5 million over 6 years. Falconbridge can back-in to 50% by spending $1
million for an additional 10% interest. The 1997/98 program is budgeted at
$200,000.
Atna Resources 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 include the high grade Wolverine massive sulphide deposit and
the recently discovered Wolf massive sulphide deposit both located in the
Yukon.

For further information: Peter DeLancey, President or Michael Williams, Investor Relations, Atna Resources Ltd. (604) 684-2285, E-Mail atna@atna.com
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