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insider buying looks promising telemark.net Canada NewsWire Give us your message. We'll give you the world. Attention Business Editors: ATNA RESOURCES LTD. ANNOUNCES - EXPLORATION UPDATE - YGC OPTIONS VANCOUVER, Sept. 18 /CNW/ - ATNA RESOURCES LTD. has received encouraging assay results from its 1996 field programs on the Money, Argus and Wolf properties which are under option from YGC RESOURCES LTD. Follow-up drill programs are underway on the Money and Wolf properties, and follow-up work is planned for Argus in 1997. Atna has an option to earn a 65% interest in each of these properties by carrying out $1.5 million in exploration expenditures per property over four years. The properties are located in the Finlayson Lake area, Yukon Territory. Argus Significant assay results were obtained from an eight-hole drill program totalling 909m on the Argus property, located 50 km west of Cominco's ABM deposit. The Argus property is underlain by Devonian-Mississippian sedimentary and volcanic stratigraphy correlative to that hosting the ABM and Atna/Westmin Wolverine deposits. Previous surveys at Argus identified a glacially dispersed, lead-zinc-silver soil geochemical anomaly measuring 1.5 x 5.0 km extending down-ice from till-covered regions of the property. Trenching within this area of anomalous base metal geochemistry exposed disseminated and banded lead-zinc-silver mineralization up to 3.47% zinc over 3.7m in outcrop. The 1996 drill program successfully traced lead-zinc-silver mineralization to areas of till cover, extending the zone of mineralization an additional 900m up-ice. Significant results are tabulated below. From To True Ag Pb Zn Hole No. (m) (m) Width(m) (g/t) (%) (%) ---------------------------------------------------------------------- ARG 96-01 6.5 13.8 7.3 7.1 0.12 2.75 including 0.8 8.8 0.16 6.19 20.4 24.4 4.0 13.5 0.65 2.86 ---------------------------------------------------------------------- ARG 96-02 24.3 39.3 15.0 11.0 0.75 2.67 including 1.6 14.4 0.68 9.69 ---------------------------------------------------------------------- ARG 96-03 33.3 34.4 1.1 29.0 0.52 2.76 36.5 39.8 3.3 4.6 0.23 1.26 43.7 44.4 0.7 32.0 2.16 9.5O 56.6 63.7 7.1 13.1 0.03 2.23 including 0.4 13.4 0.02 9.67 65.6 71.2 5.6 8.2 0.42 2.23 including 0.7 5.8 0.01 6.77 ---------------------------------------------------------------------- ARG 96-06 41.9 49.2 7.3 9.5 0.56 2.97 including 2.0 10.0 0.77 3.97 ---------------------------------------------------------------------- ARG 96-07 34.7 44.8 10.1 18.7 0.86 3.26 ---------------------------------------------------------------------- ARG 96-09 46.1 52.1 6.0 1.0 0.05 1.14 ---------------------------------------------------------------------- Mineralization is open along strike in both the southeast and northwest directions. Several strongly anomalous zones remain untested and the potential for further mineralization is considered good. Money Atna has completed a first-phase, five-hole drill program totalling 682m on the Money claims situated 5 km east of the Atna/Westmin Wolverine deposit. Anomalous results were received from three holes; significant results are listed below. Drill holes M96-3, 4 and 5 are collared from the same site. Hole Azimuth Dip From To Drilled Au Ag Cu Zu No. (degrees) (degrees) (m) (m) Width (m) (g/t) (g/t) (ppm) (%) ------------------------------------------------------------------------- MON96-3 252 -50 67.1 75.5 8.4 0.06 2.80 1656 0.30 incl. 4.4 0.07 4.10 2316 0.25 ------------------------------------------------------------------------- MON96-4 252 -70 72.2 75.1 2.9 0.18 8.80 2504 0.42 incl. 1.0 0.41 20.60 8104 0.40 ------------------------------------------------------------------------- MON96-5 310 -45 87.8 91.3 3.5 0.20 11.40 3232 0.39 incl. 1.5 0.43 24.25 7041 0.71 ------------------------------------------------------------------------- These intersections are hosted by siliceous-sericitic and pyritic lapilli tuff. Alteration and mineralization textures suggest these zones may be semi-concordant footwall alteration pipes. The contacts of these zones exhibit stockwork mineralization hosting up to 40% disseminated to massive pyrite. The intersection from holes MON96-3 4, 5 remain open to extension in all directions; a second phase drill program is to begin immediately to further test these intersections down-dip and along strike, as well as several other geophysical and geological targets. Wolf The Wolf project is located 50 km southwest of Cominco's ABM deposit within Devono-Mississippian intermediate to felsic volcanic and intercalated sedimentary stratigraphy. Previous work had identified a significant lead (>100 ppm), zinc (>300 ppm), silver (>0.6 ppm) soil geochemical anomaly measuring 100-700 x 4000m. Within the soil anomaly, bedded barite hosting stratiform pyrite, sphalerite and galena mineralization occur as fine disseminations which report up to 4.7% Zn, 1.8% Pb, 41.1 g/t Ag. Following up on 1995 field results, Atna has discovered a significant new showing of bedded barite hosting disseminated and wispy to massive galena mineralization. Three hand trenches were completed, exposing bedded and mineralized barite over a strike length of 25.5m and varying in width from 4.3m in the east to 7.0m to the west. Assay results from chip sampling has returned the following. Location Width (m) Lead (%) Silver (g/t) ------------------------------------------------------------- Trench-1 4.3 1.5 80.0 Trench-2 5.5 3.2 110.7 Trench-3 7.0 1.2 64.5 --------------------------------------------------------------- Based on these encouraging results, a drill has been mobilized to the property to test both the down-dip and open on-strike extension of the horizon. The information contained herein has neither been approved nor disapproved by any securities commission or stock exchange. For further information: Rick Kemp, Exploration Manager (604) 684-2285 08:32e 18-SEP-96 To view other releases from this company Advertising Information. Powered By: | ||||||||||||||
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