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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: SPRINGS who wrote (1499)	11/5/1999 5:20:00 PM
From: Brian Fowler	Read Replies (2) \| Respond to of 1707

Major General options Spider Lake property to Atna Major General Resources Ltd MGJ Shares issued 39,262,163 Nov 4 close $0.14 Fri 5 Nov 99 News Release Also Atna Resources Ltd (ATN) Mr. Peter DeLancey reports Atna Resources Ltd. (Atna) and Major General Resources Ltd. have signed a letter agreement giving Atna an option to earn a 60-per-cent interest in the Spider Lake property. In order to earn its option, Atna must make $2.4-million in exploration expenditures and cash payments over five years. The 13-kilometre-long Spider Lake property is located in the Schreiber-Hemlo Greenstone belt of western Ontario. This belt hosts the Hemlo gold deposits and two substantial base metal massive sulphide deposits -- Winston Lake and Geco. In 1998, significant VMS-type mineralization was discovered in rhyolitic rocks on the property; grab samples assayed up to 7.4 per cent zinc, 1.4 per cent lead, 1.5 per cent copper, 101 grams per tonne silver and .87 grams per tonne gold. A recently completed geophysical IP survey revealed a 1,200-metre-long chargeability anomaly in the immediate area. Atna has approved an EM geophysical survey to outline attractive targets for drill testing in early 2000. The survey, at an estimated cost of $30,000, has commenced. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com