successfully achieved the following objectives:
- Tested the Shear structure between the Idaho area (west end of the Shear) and the East Extension area (east end of the Shear) to show continuity between the two areas, and to confirm that there is extension to a depth of 900 metres (3,000 feet) and along the strike length of 3,475 metres (11,400 feet):
- Core drilled infill holes confirming the potential for one continuous open pit from the Idaho area through the Buffalo, Monarch and East Extension areas. The surface expression of this portion of the Shear structure has a strike length of 2,135 metres (7,000 feet) and its open-pit portion has been confirmed to a depth of 305 metres (1,000 feet);
- Tested the Shear structure to a depth of more than 900 metres (3,000 feet) with numerous intercepts along the Shear including at the west end of the Shear, the area containing the Idaho Pit;
- Explored splays trending northwest from the main Atlanta Shear and identified higher grade offshoots, and the New North Zones 1 and 2 located approximately 427 metres (1,400 feet) north west of the Atlanta Shear Zone; and
- Confirmed continuity of the main Shear at depth, along strike and with significant widths.
Ernie Simmons, Vice President and COO of the Company stated
"It is now time to shift our focus from building the
resource to environmental permitting,
economic analysis, engineering and development."
An updated NI 43-101 resource estimate is currently being prepared to reflect the results of the 2011 drilling program.
Qualified Person
Information of a technical nature in this news release
regarding Atlanta has been reviewed by Edward D. Fields who
is a designated "Qualified Person" under NI 43-101.
Mr. Fields is a Registered Member of the Society for Mining,
Metallurgy, and Exploration, Inc.
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary,
Atlanta Gold Corporation, leases, options or ownership
interests in its Atlanta properties which comprise
approximately 2,159 acres (8.74 square kilometres) located 90
air kilometres east of Boise, in Elmore County, Idaho. A long
history of mining makes Atlanta very suitable for development
of new mining projects. The Company is focused on advancing
its core asset, Atlanta, towards mine development and
production.
Forward-Looking Information
This news release contains forward-looking information
and forward-looking statements (collectively
"forward-looking statements") within the meaning of
applicable securities laws. All statements, other than
statements of historical fact, are forward-looking
statements. We use words such as "may",
"intend", "will", "should",
"anticipate", "plan", "expect",
"believe", "estimate" and similar
terminology to identify forward-looking statements, including
with respect to the interpretation of the exploration results
received. Such are based upon assumptions, estimates,
opinions and analysis made by management in light of its
experience, current conditions and its expectations of future
developments as well as other factors which it believes to be
reasonable and relevant. These assumptions include those
concerning the accuracy of historical records, the accuracy
of the Company's resource estimates and of the
geological, metallurgical and price assumptions on which the
estimates are based, the availability of adequate financing
and the ability to achieve operating cost estimates.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual
results to differ materially from those expressed or implied
in the forward-looking statements and accordingly, readers
should not place undue reliance on those statements. Risks
and uncertainties that may cause actual results to vary
include, but are not limited to, the speculative nature of
mineral exploration, development and mining (including
uncertainties with respect to the interpretation of geology,
continuity, size and grade estimates and recoverability of
mineral reserves and resources); insufficient funding or
delays in raising additional financing on satisfactory terms;
operational and technical difficulties which could increase
operating and/or capital costs; risks and hazards associated
with the business of mineral exploration, development and
mining, including environmental hazards, changes in laws or
regulations and the risk of obtaining necessary licenses and
permits; fluctuations in resource prices and in currency
exchange rates; changes in general economic conditions and in
the financial markets; as well as other risks and
uncertainties which are more fully described in the
Company's annual and quarterly Management's
Discussion and Analysis and in other Company filings with
securities and regulatory authorities which are available at
www.sedar.com. Should one or more risks and uncertainties
materialize or should any assumptions prove incorrect, then
actual results could vary materially from those expressed or
implied in the forward-looking statements and accordingly,
readers should not place undue reliance on those
statements.
Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forwardlooking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
Atlanta Gold Inc.:
Bill Baird | CHF Investor Relations:
Juliet Heading |
CO: Atlanta Gold Inc.
CNW 10:04e 17-JAN-12
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