If I read correctly in the annual report the budget for the Wolf project is $750,000. With little happening on the Wolverine this is the main focus.
Cheers,
Blake
ATNA RESOURCES LTD. - WOLF PROPERTY DRILLING TO
COMMENCE IN EARLY JUNE
VANCOUVER, BC--
A $750,000 exploration program will commence in early June on the Wolf
Project, centred approximately 90 km southeast of Ross River, Yukon. Plans
include follow-up drilling on the Wolf Deposit to further explore massive
sulphide mineralization intersected in drilling last fall. Drill testing of
an area with strong geochemical and coincident EM anomalies, immediately
southeast of the deposit, is also planned. Prospective sulphide-bearing
horizons have been identified along most of the four kilometre strike-length
of the property.
The Wolf Deposit discovery hole WF 97-07 intersected massive sulphides over
a true width of 25.2 metres grading 6.9% zinc, 2.8% lead and 138.6 g/t
silver, the deposit has since been intersected by an additional 8 holes over
a strike-length of 500 metres and a down-dip length of 250 metres. Previous
drilling by Atna 1.7 km along strike from the Wolf Deposit intersected 75
metres of altered felsic volcanics with highly anomalous zinc and silver
values. Atna can earn a 65% interest in the Wolf property from YGC Resources
Ltd. 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 cash payments of
$60,000.
The discovery of the Wolf Deposit in a relatively under-explored but highly
prospective 60 km long Mississippian volcanic belt led to the acquisition by
staking and option of an additional 314 claims further to the northwest. This
belt of rocks lies immediately west of the Tintina Fault and is distinct from
the belt hosting the Kudz Ze Kaya and Wolverine deposits on the east side of
the fault. The Mamu property, optioned from Oro Bravo Resources Ltd., is
typified by large gossanous zones with coincident geochemical and geophysical
anomalies. The Ice property, optioned from Eagle Plains Resources Ltd., has
two known silver, zinc, lead, and barite showings; the Fire property also
optioned from Eagle Plains contains multiple geochemical anomalies coincident
with zinc, lead and barite showings. The Tree property (owned 100% by Atna)
has widespread lead and zinc soil anomalies within felsic volcanics. Atna has
received results from an airborne EM/Mag survey flown over a large part of
the belt; several targets having been identified. Geological, geochemical,
and geophysical surveys will be carried out on these properties to outline
targets for drilling.
Atna Resources Ltd. is a Canadian mineral exploration company with a track
record for discovering significant massive sulphide deposits, including the
high-grade Wolverine Deposit. Atna trades on the Toronto Stock Exchange under
the symbol ATN and has a treasury of approximately C$17 million.
For further information contact:
ATNA RESOURCES LTD.
Peter DeLancey, President or
Michael Williams, Investor Relations
Tel: (604) 684-2285,
E-mail atna@atna.com
www.atna.com
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