To: SPRINGS who wrote (443 ) 7/26/1999 1:13:00 PM From: George Castilarin Read Replies (1) | Respond to of 509
Monday July 26, 9:02 am Eastern Time Company Press Release Atna Resources Ltd. and Grayd Resource Corp. -- Drill Program Underway at Dry Creek VANCOUVER, British Columbia--(BUSINESS WIRE)--July 26, 1999--Atna Resources Ltd. (TSE:ATN. - news) and Grayd Resource Corp. (VSE:GYD. - news) announced that a 10,000-foot drill program has commenced on the Dry Creek property in Alaska. Two drills will aggressively test the down-dip extension of the high-grade mineralization indicated by previous shallow drilling along a 5,000-foot segment of the DC North massive sulphide zone. Results from previous geological, geochemical, geophysical surveys and drilling indicate that the property has excellent potential to host a large zinc-silver-rich volcanogenic massive sulphide (VMS) deposit. Significant intersections from the 1997 and 1998 programs include: Hole No. Width (ft) Cu (%) Pb (%) Zn (%) Au (oz/t) Ag (oz/t) DC98-60 160 0.1 2.0 4.2 0.01 2.1 including 47 0.2 3.4 7.2 0.02 1.8 DC98-40 95 0.2 2.6 6.2 0.03 5.3 DC97-33 20 0.4 6.6 15.1 0.03 9.7 DC97-04 11 0.9 11.7 25.9 0.10 10.1 Additional drilling is planned to test other centers of mineralization on the property including the WTF zone where banded VMS mineralization averaging 7.9% zinc, 3.5% lead, 8 oz/t silver and 0.06 oz/t gold has been intersected in widely spaced holes. The Dry Creek property is located 60 miles south of Fairbanks and is in relatively close proximity to a highway, a rail line, a power station and a deep water port. The property is hosted in a felsic-siliciclastic rock sequence indicating a volcanic back-arc basin environment of deposition. Other VMS deposits hosted in similar geological settings include the Delta and Ambler deposits in Alaska, the Wolverine and Kudz Ze Kayah in the Yukon, the Bathurst deposits in New Brunswick and the deposits of the Iberian pyrite belt. Atna is earning a 51% interest in the Dry Creek property from Grayd Resource Corp. (June 15, 1999, news release). Atna Resources Ltd. is a Canadian mineral exploration company with a track record for discovering significant massive sulphide deposits including the Wolverine and Wolf deposits. Atna trades on the Toronto Stock Exchange under the symbol ATN and has a treasury of approximately C$14 million. -------------------------------------------------------------------------------- Contact: Atna Resources Ltd., Vancouver Peter DeLancey or Michael Williams, 604/684-2285 Fax: 604/684-8887 E-mail: atna@atna.com atna.com or Grayd Resource Corp., Vancouver Edith Llamzon, 604/681-7446 Fax: 604/687-7041 E-mail: info@grayd.com grayd.co