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Pinson Open Pit Project Drilling Returns 0.098 oz/ton Au over 162 feet

Date : 11/15/2012 @ 11:58PM
Source : PR Newswire (US)
Stock : Atna Res J (ATN)
Quote : 0.1  0.0 (0.00%) @ 4:52PM
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Pinson Open Pit Project Drilling Returns 0.098 oz/ton Au over 162 feet

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Pinson Open Pit Project Drilling Returns 0.098 oz/ton Au over 162 feet

GOLDEN, Colo., Nov. 15, 2012 /PRNewswire/ -- Atna Resources Ltd. ("Atna" or the "Company") (TSX:ATN/OTCQB:ATNAF)  is pleased to provide head grade assay results from the Mag Pit metallurgical drilling program at its Pinson Mine near Winnemucca, Nevada. In May and June of this year, Atna completed four large diameter core holes to confirm continuity of mineralization and to acquire metallurgical sample materials from the potential open pit resource in the Mag Pit area of the property. The Mag Pit zone is separated from the underground mine and may be developed independently after permitting is completed. Head assay results confirm the grade and continuity of the modeled resource and will provide sample material for the metallurgical work which is underway, as part of a prefeasibility study.

Highlights from the drill results include:

  • 154.5 feet (47.1 m) grading 0.057 oz/ton gold (1.97 g/t gold) in hole Magmet-001
  • 238 feet (72.5 m) grading 0.041 oz/ton gold (1.40 g/t gold) in hole Magmet-001
  • 162 feet (49.4 m) grading 0.098 oz/ton gold (3.36 g/t gold) in hole Magmet-002
  • 41 feet (12.5 m) grading 0.059 oz/ton gold (2.03 g/t gold) in hole Magmet-003

"This drilling was successful in confirming strong continuity of the gold resource remaining in the Mag pit. Gold was previously produced from the Mag pit by conventional open pit, heap leach methods. Production ceased in 1999 due to low gold prices. Information from this metallurgical study program will be utilized to confirm past results and to provide additional data for process design. A reputable engineering firm has been retained to complete a pre-feasibility study to demonstrate the potential economic viability of developing an open-pit heap leach operation at Pinson. The study is targeted for completion in the first half of 2013," states Atna's President & CEO, James Hesketh.

Hole ID

From-feet

(m)

To-feet

(m)

Length-feet

(m)

oz/ton Au*

(g/t Au)

Estimated True

Thickness-feet (m)

Magmet-001

0

(0)

154.5

(47.1)

154.5

(47.1)

0.057

(1.95)

115

(35.1)

Magmet-001

170

(51.8)

408

(124.4)

238

(72.5)

0.041

(1.40)

166

(50.6)

Magmet-002

252

(76.8)

292

(89.0)

40

(12.2)

0.030

(1.03)

38

(11.6)

Magmet-002

335

(102.1)

497

(151.5)

162

(49.4)

0.098

(3.36)

158

(48.2)

including

335

(102.1)

448

(136.5)

113

(34.4)

0.122

(4.18)

110

(33.5)

including

448

(136.5)

497

(151.5)

49

(14.9)

0.043

(1.47)

48

(14.6)

Magmet-003

310

(94.5)

362.5

(110.5)

52.5

(16.0)

0.014

(0.48)

50

(15.2)

Magmet-003

368

(112.2)

409

(124.7)

41

(12.5)

0.059

(2.02)

40

(12.8)

Magmet-003

409

(124.7)

459

(139.9)

50

(15.2)

0.022

(0.75)

47

(14.3)

Magmet-003

459

(139.9)

514

(156.7)

55

(16.8)

0.044

(1.50)

53

(16.2)

Magmet-004

270

(82.3)

310.5

(94.6)

40.5

(12.3)

0.018

(0.62)

38

(11.6)

Magmet-004

370

(112.8)

417

(127.1)

47

(14.3)

0.018

(0.62)

45

(13.7)

Magmet-004

439

(133.8)

500

(152.4)

61

(18.6)

0.022

(0.75)

58

(17.7)

* Gold grades reported represent averages of triplicate fire assays on head samples splits.

Analytical results contained within this press release were completed by standard fire assay methods with an atomic absorption or gravimetric finish by McClelland Laboratories, an independent, metallurgical laboratory located in Sparks, Nevada. McClelland maintains a rigorous QA/QC protocol in its laboratory and the results reported represent the average sample grades in the laboratory's triplicate assay procedure for determining metallurgical head grades.

This press release was prepared under the supervision and review of William Stanley, V.P. Exploration of Atna, a Registered Member of the Society for Mining, Metallurgy, and Exploration, a Licensed Geologist and Qualified Person, as defined in NI 43-101, who has verified the authenticity and validity of the technical information contained within this news release.

For additional information on Atna Resources and the Pinson Gold Mine, please visit our website at www.atna.com or our filings with Canadian securities regulators on SEDAR or U.S. regulators on EDGAR.

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation relating to the Pinson Mine. Forward-looking statements are statements that are not historical facts. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change, unless required by law. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: gold deposit modeling, development and future operating costs at the Pinson Mine, the Company might encounter problems such as the significant depreciation of metals prices; accidents and other risks associated with mining exploration and development operations; the risk that the Company will encounter unanticipated geological factors; the Company's need for and ability to obtain additional financing; the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration and development programs; and the other risk factors discussed in greater detail in the Company's various filings on SEDAR (www.sedar.com) with Canadian securities regulators and its filings with the U.S. Securities and Exchange Commission, including the Company's 2011 Form 20-F dated March 26, 2012.

Cautionary Note to U.S. Investors --- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this report, such as "measured", "indicated", "inferred", and "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.

FOR FURTHER INFORMATION, CONTACT:

James Hesketh, President and CEO - (303) 278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
www.atna.com

SOURCE Atna Resources Ltd.

Copyright 2012 PR Newswire



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