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Atlantic Gold reports additional results from the Phase

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geodan   Wednesday, 01/24/18 01:01:27 PM
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Atlantic Gold reports additional results from the Phase 3 Resource Expansion drill program at Fifteen Mile Stream
CANADA NEWSWIRE 5:00 AM ET 1/24/2018
Symbol Last Price Change
SPVEF 1.43down +0.0906 (+6.76%)
QUOTES AS OF 12:53:48 PM ET 01/24/2018
Egerton Maclean: 20m @ 21.9g/t Au from 35m (incl 1m @ 419g/t Au)
Plenty: 3m @ 52.9g/t Au from 18m (incl 1m @ 156g/t Au), 2m @ 10.25g/t Au from 27m and 16m @ 1.05g/t Au from 9m


VANCOUVER, Jan. 24, 2018 /CNW/ - Atlantic Gold Corporation(SPVEF) ("Atlantic" or the "Company") is pleased to report further assay results received from the Phase 3 Resource Expansion drilling program at the Fifteen Mile Stream gold deposit.

Fifteen Mile Stream and Plenty Drill Plan Map and Sections (CNW Group/Atlantic Gold Corporation)

Fifteen Mile Stream is located approximately 57km northeast of the central processing facility at Touquoy and is readily accessible by highway. Fifteen Mile Stream's current measured and indicated mineral resources stand at 10.59 million tonnes at 1.33 g/t Au for 452,000 oz. at 0.35g/t cut-off grade. Inferred mineral resources amount to 6.64 million tonnes at 1.12 g/t Au for 240,000 oz. at 0.35g/t cut-off grade (see Company announcement July 21, 2017)1.

As per previous news releases the objectives of the Phase 3 Resource Expansion drilling program are to identify additional gold resources immediately peripheral to those resources previously defined at Fifteen Mile Stream and Cochrane Hill. At Cochrane Hill and at Fifteen Mile Stream – particularly at the Hudson and Plenty zones, upgrade previously defined inferred resources to measured and indicated categories, and seek additional new resources within the 350m gap between the Plenty and Egerton MacLean zones at Fifteen Mile Stream.

1 The Mineral Resource estimate for Fifteen Mile Stream is quoted at a cut-off grade of 0.35g/t. It has an effective date of July 20, 2017 and was prepared as part of a technical report in accordance with NI 43-101 by Mr. Neil Schofield, a principal of FSSI (Australia) Pty Ltd, released on September 1, 2017 on SEDAR.

2018 drilling has recently re-commenced with three drilling rigs presently operating at the Plenty deposit. Twenty holes for 2217m have so far been completed. Up until the end of 2017 a total of 185 holes for 21,000m had been drilled at Fifteen Mile Stream. Holes are generally drilled on 25m x 20m centres, although for the first-pass drilling along the 350m gap between Plenty and Egerton MacLean holes have been drilled on 50m-spaced sections.

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