Atna Resources Ltd -
1998 drilling begins
Atna Resources Ltd
ATN
Shares issued 20203788
1998-02-09 close $1.28
Tuesday Feb 10 1998
Mr Peter Delancey reports
Discussions are under way with Atna's joint venture partner Boliden Limited to
advance the Wolverine deposit and address the metallurgical concerns,
particularly the high selenium content. The Wolverine deposit has a mineral
resource of 6,237,000 tonnes grading 1.76 g/t gold, 370.9 g/t (11.7 oz per tonne)
silver, 1.33% copper, 1.55% lead and 12.66% zinc.
In the fall of 1997 program Atna discovered a significant massive sulphide deposit
on the Wolf property in southeastern Yukon. The discovery hole WF 97-07
intersected massive sulphides over a true width of 25.2 metres grading 138.6 g/t
silver, 6.9% zinc, 2.8% lead. An airborne geophysical survey has indicated several
anomalies on Atna's extensive land position in this favourable belt. An aggressive
drill program is planned to test these targets and follow-up on the Wolf drill
intersections.
Drilling on the Atna/Falconbridge Limited, Temagami joint venture project will
commence in March. One drill hole was completed in December on an outlying
geophysical anomaly. The hole intersected iron formation rather than massive
sulphide mineralization. Approximately five drill holes will be drilled in the main
target area where previous exploration has indicated a thick section of rhyolitic
rocks with polymetallic mineralization and coincident geochemical and geophysical
anomalies.
A five hole, 1,500 metre drill program is scheduled to commence this month on
the Loveland volcanogenic massive sulphide property near Timmins, Ontario. The
property is underlain by felsic and mafic volcanic rocks of the Abitibi greenstone
belt that hosts several major deposits including the nearby Kidd Creek ore body.
Atna is currently reviewing, for the purpose of acquisition, several volcanogenic
massive sulphide properties with high silver and zinc values. Having both a high
level of technical expertise and approximately $18 million in the treasury Atna is
well positioned to capitalize on exploration and development opportunities. |
