Atna moves forward in Chile

Vancouver — The results from a 22-hole reverse-circulation drill program have Atna Resources (ATN-T) gearing up to start metallurgical tests on its Barreal Seco copper project in northern Chile.

The 2,500-metre program confirmed the previous oxide resource estimates. Highlights include:

• Hole 1 — 78 metres grading 0.37% copper from surface;
• Hole 2 — 78 metres grading 0.79% copper from 34 metres down-hole;
• Hole 3 — 120 metres grading 0.83% copper from surface;
• Hole 4 — 114 metres grading 0.84% copper from surface;
• Hole 5 — 110 metres grading 0.67% copper from surface;
• Hole 6 — 120 metres grading 0.57% copper from surface;
• Hole 7 — 120 metres grading 0.39% copper from surface;
• Hole 8 — 84 metres grading 0.53% copper from surface;
• Hole 9 — 98 metres grading 0.72% copper from surface;
• Hole 10 — 70 metres grading 0.78 metres from 50 metres down-hole;
• Hole 11 — 74 metres grading 0.96% copper from 46 metres down-hole;
• Hole 13 — 32 metres grading 0.61% copper from 28 metres down-hole;
• Hole 14 — 112 metres grading 0.54% copper from 2 metres down-hole;
• Hole 15 — 120 metres grading 0.72% copper from surface;
• Hole 17 — 88 metres grading 0.51% copper from 24 metres down-hole;
• Hole 18 — 24 metres grading 0.37% copper from 52 metres down-hole;
• Hole 19 — 120 metres grading 0.65% copper from surface; and
• Hole 22 — 96 metres grading 0.75% copper from surface.

Holes 12 and 16 were collared along the northeastern edge of the deposit and failed to return any significant values.

Holes 20 and 21 were drilled 2.5 km southeast at the Teresa Chica zone and returned 26 metres grading 0.41% copper and 16 metres grading 0.27% copper, respectively.

With a strike length over 800 metres, Atna feels that more drilling is required at the Teresa Chica zone.

The results confirm that the oxide deposit should meet or exceed the resource estimates made by previous operators (17 million tonnes grading 0.7% copper using a 0.3% copper cutoff grade). Atna plans to launch a core-drilling program to obtain sample material for metallurgical column leach testing. The program should be completed by late August.

The deposit occurs in a specularite-rich breccia body measuring 600 metres long, 180-300 metres wide and 450 metres deep. The oxide zone extends to 120 metres below surface and is followed by a 10-to-20-metre-thick enrichment zone, which overlies the primary mineralization. Copper oxide mineralization consists of atacamite, malachite and chrysocolla. Secondary sulphides are mainly chalcocite and covellite. Hypogene mineralization consists of chalcopyrite and pyrite with minor bornite.

Atna can earn 100% of the project by spending US$250,000 this year and completing a prefeasibilty study for the exploitation of the oxide resource. After completion of this work, Atna has the option to enter into a 50-50 joint venture with the property owners. The junior also has the right to purchase the owners’ 50% interest for US$5 million, payable in five annual instalments of US$1 million.