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Atlantic Gold Corp.
Summary
| Project: | Moose River | |
|---|---|---|
| Deposit: | Fifteen Mile Stream | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-2-2017: Atlantic Gold Corp. announces an Exploration/Drilling Update report for its Fifteen Mile Stream deposit at the Moose River project. Drilling results incl. 23m @ 2.44g/t Au from 71m. Vancouver, British Columbia – Atlantic Gold Corporation (TSX-V | |
| Resources: | Inferred Resources of 11.72 Mt @ 1.55 g/t Au (contained 584,000 oz Au) (at COG of 0.5 g/t Au) | |
| 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 assay results received from the first twenty holes of the resource definition diamond drilling program being undertaken at its Fifteen Mile Stream Gold Project in Nova Scotia, Canada. Two rigs are presently drilling on the property with 70 holes for 6,300m of the planned 25,000m having been drilled to date. The objective of this program is to bring the resources at the Company’s Fifteen Mile Stream deposit to measured and indicated status and thereby adding to the existing life of mine plan at MRC. In terms of grade, width and position, results received to date are generally consistent with the resource base from the previous drilling programs and which underpin the current inferred resource estimate for Fifteen Mile Stream (see below). Most of this drilling – 177 diamond core holes for 30,100m – was conducted during the 1980s. Mineralization occurs within argillites, greywackes and contained bedding-parallel quartz veins across the hinge zone and limbs of an E-W trending anticline. The northern limb of the anticline dips moderately north, with the southern limb vertical to overturned (generally steeply north dipping). All holes are therefore declined to the south and hence true widths vary (see assay table below) depending on which limb of the anticline is intersected. Free gold is commonly observed, and in association with pyrrhotite and arsenopyrite. These first stage drilling results support our understanding of the essential continuity of the mineralization. The team continues to explore and discover extensive disseminated mineralization previously overlooked, and combined with mineralized quartz veins, could represent potentially open pittable reserves. The region is underexplored for this deposit model. | |
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