Atna earns 65% interest in Wolf property
Atna Resources Ltd ATN
Shares issued 20,203,788 Jan 6 close $0.75
Thu 7 Jan 99 News Release
Also YGC Resources Ltd (YGC)
Mr. Peter DeLancey reports
With the conclusion of the 1998 exploration program on the Wolf property
and completion of payments to YGC Resources, Atna Resources has earned a 65
per cent interest in the property from YGC Resources.
The Wolf deposit, in the Finlayson Lake area of the southern Yukon, is a
polymetallic, volcanogenic massive sulphide deposit. Based on 31 drill
intersections, Atna has calculated an inferred resource of 4.1 million
tonnes grading 6.2 per cent zinc, 1.8 per cent lead and 84 g/t silver. The
deposit is open to expansion to the southeast and down dip. The East Slope
zone, 1.2 kilometres southeast of the Wolf deposit, was discovered during
the 1998 field season. Massive sulphides have been intersected in the
initial four drill holes with grades up to 5.7 per cent Zn, 2.1 per cent
Pb, 43.6 g/t Ag over 4.6 metres true thickness. The banded semi-massive to
massive sulphide mineralization occurs roughly 70 metres stratigraphically
below the Wolf deposit horizon. Assay results from the East Slope holes (42
to 45) and for a previously unreleased drill hole, are presented below.
The Wolf deposit is 45 kilometres west of Cominco's Kudz Ze Kayah deposit
and 65 kilometres from the Wolverine deposit. The Wolf deposit is hosted by
a different geological belt and is not anticipated to have metallurgical
difficulties.
An exploration program to expand the Wolf deposit, follow up on the new
East Slope discovery and test for other massive sulphide deposits within
the property is planned for 1999.
ASSAY TABLE
True
From To Width Thick- Zn Pb Ag
(m) (m) (m) ness % % g/t
---- --- ----- ------ -- -- ---
Hole WF98-41
74.5 96.1 21.6 21.6 1.11 0.22 8.7
incl
91.6 96.1 3.5 3.5 3.02 0.33 12.8
Hole WF98-42
80.7 88.5 7.8 7.5 1.40 0.32 12.2
Hole WF98-43
65.5 70.8 5.3 5.2 2.58 0.31 18.6
97.0 99.3 2.3 2.2 2.75 0.55 23.0
Hole WF98-44
92.0 106.9 14.9 14.6 1.16 0.35 10.5
136.5 137.2 0.7 0.7 5.05 1.92 212.2
Hole WF98-45
143.4 148.3 4.9 4.6 5.73 2.10 43.6
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