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Atlantic Gold Corp.
Summary
| Project: | Cochrane Hill | |
|---|---|---|
| Deposit: | Cochrane Hill | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/6/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2016: Atlantic Gold Corp. announces an Exploration/Drilling Update report for its Cochrane Hill deposit at the Cochrane Hill project. Drilling results incl. 31m @ 2.29g/t Au from 40m. Vancouver, British Columbia – Atlantic Gold Corporation (TSX-V: AG | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Wally Bucknell (Internal) | |
| ABSTRACT: | Vancouver, British Columbia – Atlantic Gold Corporation (TSX-V: AGB) ("Atlantic" or the "Company") is pleased to report the first assay results received from the resource definition diamond drilling program being undertaken at its Cochrane Hill Gold Project in Nova Scotia, Canada. Cochrane Hill is a key gold deposit located near the Company’s Moose River Consolidated (MRC) project with gold resources of 251,000 ounces of gold in 4.5 million tonnes @ 1.8 g/t in the Indicated category and 298,000 ounces of gold in 5.6 million tonnes @ 1.6 g/t in the Inferred category, but not yet included in the MRC life of mine plan. A 2014 Preliminary Economic Assessment entitled “NI 43-101 Technical Report Preliminary Economic Assessment Nova Scotia, Canada” dated October 14, 2014 indicated that both total life of mine gold production and annual production could be significantly increased at MRC. The technical report can be viewed here. These results support and continue to define a fairly discrete, tabular, 70o south-dipping zone of disseminated mineralization having a true width of approximately 25m in this part of the deposit. Two drilling rigs are presently in operation with 9500m in 67 holes having now been drilled. This first phase of drilling will be completed by year-end with the final, second phase to be completed in early 2017. Atlantic Gold Chairman and CEO Steven Dean commented, “We continue to demonstrate success in our new look at the style of mineralization in the Meguma in Nova Scotia. This program is confirming consistent wide zones of mineralization at open pit grades with the combination of the traditional quartz veins and the disseminated shale host mineralization amenable to open pit mining at relatively low strip ratios.” | |
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