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Atlantic Gold Corp.
Summary
| Project: | Moose River | |
|---|---|---|
| Deposit: | Fifteen Mile Stream | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/20/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-6-2017: Atlantic Gold Corp. announces an Exploration/Drilling Update report for its Fifteen Mile Stream deposit at the Moose River project. Drilling results incl. 6m @ 15.3g/t Au from 34m. VANCOUVER, British Columbia, June 20, 2017 (GLOBE NEWSWIRE) -- | |
| Resources: | (Resource, Inf.): 11.72Mt @ 1.55g/t Au for 584000oz Au contained at project | |
| CP/QP: | [Overall Report]: Wally Bucknell (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, June 20, 2017 (GLOBE NEWSWIRE) -- Atlantic Gold Corporation (TSXV:AGB) ("Atlantic" or the "Company") is pleased to report assay results received from core drilling programs on the Fifteen Mile Stream and Cochrane Hill gold deposits where resource definition drilling on 25m x 20m centres is nearing completion with the objective of upgrading resources to measured and indicated categories. Fifteen Mile Stream is located approximately 57km northeast of the central milling facility at Touquoy and is readily accessible by highway. Fifteen Mile Stream’s current inferred mineral resources stand at 11.72 million tonnes at 1.55 g/t Au for 584,000 oz. The drilling program has now been completed with 191 holes for 23,424m having been drilled. New assay results reported herein are from a further 33 holes with assays pending from the final 32 holes of the program. 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”) milling facility by way of a PreFeasibility Study. Results continue to be received from a suite of holes drilled across the hinge zone of the anticline in the central part of the main Egerton MacLean zone. Notable new intersections in terms of width, grade and relatively shallow depth continue to be returned from positions within the hinge zone, or core, of the anticline as well as the two limbs. Using the descriptive product of grade and down-hole width there are over a dozen composite intersections with grade x width in excess of 40 gram metres per tonne and many of these are near surface commencing at vertical depths of less than 50m. | |
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