TORONTO, Aug. 1, 2012 /CNW/ - (TSXV: ATG; OTCQX:
ATLDF) (the "Company") is pleased to announce that Knife River
Corporation ("KRC") has completed transporting and crushing 107 of
the 145 tons of bulk sample material from the Atlanta Shear Zone at
the Company's Atlanta gold project
in Idaho. The crushed sample
was then delivered to KRC's pad for processing.
The original 145-ton bulk sample was excavated
from four existing surface trenches. The trenches are
approximately 150 feet (45.7 meters) apart and are open cuts across
the Main Shear Zone east of the Monarch Shaft above the 6800-foot
elevation.
"This 107-ton bulk sample has been crushed to
minus 1/8-inch material, which is representative of mine feed. This
next stage of test processing, the bench scale test run, will
assist the Company in determining whether this beneficiation method
for the resources is an option for on-site processing. There is
also significant exploration potential to increase the Atlanta project's gold inventory both along
strike, at depth and within other mineralized structures," said Wm.
Ernest Simmons, President and CEO of
the Company.
The proposed system of metallurgical recovery
from the test processing plant has been successfully applied and
achieved high gold recovery rates at a similar deposit within a
50-mile (80-kilometer) radius of the Atlanta property. The pilot scale model will
be used to test the recovery of precious metals from the bulk
sample and the Company expects to reduce the 107 tons of feed
material to less than 1,000 pounds of gold and silver concentrate.
No chemicals will be added because the gravity processing system
only uses water.
Provided there are no delays during final
processing of the bulk sample, assay results will be reported by
news release in August 2012.
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta
Gold Corporation, leases, options or ownership interests in its
Atlanta properties which comprise
approximately 2,159 acres (8.74 square kilometers) located 90 air
kilometers east of Boise, in
Elmore County, Idaho. A long
history of mining makes Atlanta
very suitable for development of new mining projects. The Company
is focused on advancing its core asset, Atlanta, towards mine development and
production.
Forward-Looking Information
This news release contains forward-looking information and
forward-looking statements (collectively "forward-looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical fact, are
forward-looking statements. We use words such as "may", "intend",
"will", "should", "anticipate", "plan", "expect", "believe",
"estimate" and similar terminology to identify forward-looking
statements, including with respect to the commencement of test
processing, the time to receive the results therefrom. Such are
based upon assumptions, estimates, opinions and analysis made by
management in light of its experience, current conditions and its
expectations of future developments as well as other factors which
it believes to be reasonable and relevant. These assumptions
include those concerning the successful and timely completion of
additional financings by the Company, the ability to achieve
capital and operating cost estimates, and general business and
economic conditions. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results to differ materially from those expressed or implied
in the forward-looking statements and accordingly, readers should
not place undue reliance on those statements. Risks and
uncertainties that may cause actual results to vary include, but
are not limited to, the Company's limited financial resources and
its ability to raise sufficient funds on a timely basis to fund the
capital and operating expenses necessary to achieve its business
objectives and continue as a going concern; operational and
technical difficulties; risks and hazards associated with the
business of mineral exploration, development and mining, including
environmental, health and safety hazards, changes in laws or
regulations and the risk of obtaining necessary consents, licenses
and permits; changes in general economic conditions and in the
financial markets; as well as other risks and uncertainties which
are more fully described in the Company's annual and quarterly
Management's Discussion and Analysis and in other Company filings
with securities and regulatory authorities which are available at
www.sedar.com. Should one or more risks and uncertainties
materialize or should any assumptions prove incorrect, then actual
results could vary materially from those expressed or implied in
the forward-looking statements and accordingly, readers should not
place undue reliance on those statements. Readers are cautioned
that the foregoing lists of risks, uncertainties, assumptions and
other factors are not exhaustive. The forward-looking
statements contained in this news release are made as of the date
hereof and the Company undertakes no obligation to update publicly
or revise any forward-looking statements contained herein or in any
other documents filed with securities regulatory authorities,
whether as a result of new information, future events or otherwise,
except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Atlanta Gold Inc.
