Atna acquires Clover gold prospect in Nevada

Vancouver — Atna Resources (ATN-T) has optioned the Clover gold prospect, located in the Midas district of North Central Nevada.

The Clover prospect is a high-grade vein-hosted epithermal gold target situated about 17 km west of Newmont Mining’s Ken Snyder mine which hosts 2.7 million tons averaging 1.12 oz gold per ton and 12.82 oz. silver per ton.

According to the agreement, Atna may acquire a 100% interest in the property by paying US$20,000 upon signing, US$25,000 on the 1st anniversary and US$30,000 on each subsequent anniversary until the vendor receives a total of US$300,000. The vendor retains a 3% BSR and Atna has the right to buy back the royalty for US$1 million per 1% interest.

Drill intercepts by previous operators cut mineralized banded quartz-adularia veins and breccia fillings. Highlights of these intercepts include: 32 ft averaging 0.74 oz. gold per ton, 2.5 ft. averaging 8.0 oz. gold, 25 ft. averaging 0.23 oz. gold, and 5 ft. averaging 0.53 oz. gold. Mineralization is associated with northwest and northeast trending structures and occurs within two zones that remain open along strike and down-dip. Grab samples taken from float boulders 2 miles northwest of the drill area averaged up to 0.93 oz. gold and 9.0 oz. silver.

Atna has planned an aggressive strategy of exploration and drilling that will be executed over the next six months. An initial phase of drilling is scheduled for April that will target the system at depth where continuity in grade and structure may occur, as it does at the Ken Snyder deposit.