Well Bobby what's your take on the news release and the price dropping some more???????
ATNA RESOURCES LTD. - WOLF DEPOSIT RESULTS ENCOURAGING / NEW DISCOVERY 1.2 KM FROM WOLF DEPOSIT
VANCOUVER, BC--
Atna Resources Ltd. and YGC Resources Ltd. are pleased to report
assay results from the initial 7 drill holes of the 1998 Wolf
program. Significant widths of banded zinc, lead and silver
massive sulphides were intersected in holes WF 98-24 and 25. In
addition, hole WF 98-26, drilled 50 metres from WF 98-25,
intersected 7.7 metres (true thickness) of massive sulphides
indicating a continuation of this mineralization in an easterly
down-dip direction (assay results are pending).
Results from hole WF 98-16, which was drilled down-dip from the
western edge of the deposit, suggest that the deposit thins in
this area; high grade zinc massive sulphide mineralization was
intersected 30 to 50 metres below the main deposit horizon
showing potential for discovering additional deposits at a lower
stratigraphic level.
Results from hole WF 98-17, drilled to test the down-dip western
part of the deposit, indicate that the deposit is displaced by a
fault in this area, which is located approximately 400 metres
down-dip from the surface. Hole WF 98-19, drilled below and west
of WF 98-16, intersected the same fault as in WF 98-17,
indicating that the fault has a southeasterly trend away from the
deposit.
Hole WF 98-18 tested for a southwesterly plunge of the thicker
mineralization encountered in the discovery hole WF 97-07; it
intersected 6.8 metres of higher grade massive sulphide
mineralization.
Holes WF 98-20 and 21 tested the area between holes WF 16 and 18
and intersected banded massive sulphides over moderate widths.
Holes WF 98-22 and 23, drilled to test the up-dip area of the
deposit, 175 metres northeast from discovery hole, intersected
the sulphide horizon close to surface where extensive leaching of
the sulphide mineralization has occurred. Hole WF 98-23 also was
drilled beyond the Wolf Deposit horizon to test for stacked
sulphide lenses in the stratigraphy. This hole intersected two
lower massive sulphide zones of moderate grade and width, again
indicating the possibility for discovering additional resources
at lower stratigraphic horizons.
Hole ID Interval True Zinc(%) Lead(%) Silver(g/t)
From - To Thickness(m)
WF98-16 101.5 - 102.5 0.9 6.7 0.7 39.1
142.9 - 143.7 0.7 8.1 1.1 14.1
WF98-18 148.7 - 155.5 6.8 10.0 3.0 119.7
WF98-20 104.1 - 109.7 5.6 4.4 0.9 48.3
WF98-21 121.9 - 124.8 2.4 4.4 2.0 84.0
WF98-23 82.0 - 83.2 1.2 5.5 1.2 63.8
107.0 - 109.1 2.1 7.4 2.0 59.7
WF98-24 143.3 - 145.5 2.2 3.4 3.2 126.8
152.2 - 156.5 4.3 5.6 2.5 107.2
206.6 - 207.8 1.2 9.7 1.1 11.7
WF98-25 196.9 - 215.9 16.1 7.7 2.5 118.3
WF98-26 227.8 - 236.7 7.7 Assays Pending
Hole WF 98-33 located 1.2 km east of the Wolf Deposit,
intersected 4.5 metres of banded massive sulphides (assay results
are pending). Follow-up drilling is currently underway on this
new discovery.
Drill results to date show that the Wolf Deposit has a strike
length of 500 metres and a down-dip length of approximately 400
metres and is open for expansion; further drilling is planned.
Several attractive targets characterized by coincident
geochemical and geophysical anomalies have been identified on the
Fox Claims, which cover the northwest extension of the favourable
massive sulphide/barite horizon. These claims under option from
Cominco Ltd. will be drill tested this season.
Atna Resources Ltd. is a Canadian mineral exploration company
with a track record for discovering significant massive sulphide
deposits. Atna trades on the Toronto Stock Exchange under the
symbol ATN and has a treasury of approximately C$17 million.
**For a hard copy of the Wolf Project Diamond Drilling map,
please call 1-800-789-2862.
- 30 -
For further information contact:
Signed "Peter R. DeLancey"
______________________
President
ATNA RESOURCES LTD.
Peter DeLancey, President or
Michael Williams, Investor Relations
Tel: (604) 684-2285; Fax: (604) 684-8887
E-mail: atna@atna.com
atna.com |
