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Atlantic Gold Corp.
Summary
| Project: | Cochrane Hill | |
|---|---|---|
| Deposit: | Cochrane Hill | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-5-2017: Atlantic Gold Corp. announces an Exploration/Drilling Update report for its Cochrane Hill deposit at the Cochrane Hill project. Drilling results incl. 16m @ 4.38g/t Au from 51m. Atlantic Gold Corporation (TSX-V: AGB) ("Atlantic" or the "Company" | |
| Resources: | (Resource): 4.5Mt @ 1.8g/t Au (Ind.) and 5.6Mt @ 1.6g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Wally Bucknell (Internal) | |
| ABSTRACT: | Atlantic Gold Corporation (TSX-V: AGB) ("Atlantic" or the "Company") is pleased to report assay results received from drilling programs on two gold deposits and a gold prospect: The Fifteen Mile Stream and Cochrane Hill deposits where resource definition drilling on 25m x 20m centres is underway with the objective of upgrading resources to measured and indicated categories, and at the Plenty prospect where previously reported high grade intersections are being drilled more systematically. The Company plans to use the results from the drill programs to undertake further analysis to determine the economic viability of the above-noted deposits which would include analysis of the economics of processing these deposits at the Moose River Consolidated (“MRC”) processing facility by way of a Pre-Feasibility Study. The Cochrane Hill Gold deposit is located within trucking distance (approximately 80km) to the central milling facility at Touquoy and is readily accessible by highway (based on a Preliminary Economic Assessment dated October 14, 2014 prepared by Moose Mountain Technical Services). Mineral resources at Cochrane Hill currently comprise indicated resources of 4.5 million tonnes at 1.8g/t Au for 251,000 oz. and inferred resources of 5.6 million tonnes at 1.6 g/t Au for 298,000 oz. New assay results reported herein are from a further eight holes of the ongoing resource definition diamond drilling program, these being the first assays returned from the second phase of the drilling program. This second phase has targeted potential extensions of mineralization to the west of the main body of mineralization and west of the step out holes on section 2775E across highway #7. Regulatory approval has been obtained to drill in this area which is largely covered by shallow wetland. A further nine lower priority holes have been added to this phase of the program to test for depth extensions beneath the last, deepest, encouraging intersection on each of nine cross-sections east of 3000E. This second phase of drilling will be completed in the coming week. | |
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