Atna chases silver in Chile

Vancouver-based Atna Resources (ATN-T) has consolidated ownership of the historic Chanarcillo silver mining district in northern Chile, 70 km south of Copiapo.

Atna locked up the area by acquiring a key 1.5-by-1-km claim covering the core part of the project. In January, the junior picked up a separate option to earn a 100% interest in a 35-sq.-km land package centred on a dozen old silver mines. Together, the option agreements call for combined payments totalling US$168,000, plus a 2% net smelter return royalty. In addition, Atna must spend US$800,000 on exploration over six years.

The property lies at an elevation of 1,100 metres, 14 km off the Pan American highway. Historic production dates back to between 1865 and 1915, when more than 100 million oz. silver were mined from oxidized veins, chimneys and mantos above the water table. Atna says the historically complex land ownership has restricted modern exploration.

Several stratabound zinc-rich massive sulphide manto bodies occur at various depths in the old workings. These sulphide bodies were never mined, owing to lack of oxidation and the associated difficulties of extracting the silver from sulphide minerals. Atna believes the Chanarcillo district represents a potential carbonate replacement target.

The company plans to conduct an initial sampling program of the veins and altered wall rocks.