Atna’s court date with Boliden delayed

Atna Resources’ (ATN-T) court date with Boliden (BOL-T), originally scheduled for Sept. 24 and 25, has been postponed to Nov. 25 and 26.

Earlier this summer, the British Columbia Supreme Court granted Atna a temporary injunction preventing Boliden from selling its 60% interest in the Wolverine joint venture to Expatriate Resources (EXR-V) pending the outcome of a summary trial.

Atna, which owns the remaining 40% interest in the Yukon polymetallic massive sulphide project, is seeking a court declaration that its joint-venture right-of-first-refusal has been triggered and exercised in regard to Boliden’s intended sale of its interest in the project.

Boliden contends that Atna’s right of first refusal is void if a deal is struck with an associated company, which is defined as one in which ownership is 30% or greater. Boliden structured the transaction as a two-tier arrangement. The first part involved the transfer of certain interests in patented hydrometallurgical technology to Expatriate in return for 1.7 million of its shares, thereby giving Boliden a 30.15% interest in Expatriate.

The second part of the deal involves Boliden’s mineral interests in the Finlayson Lake district of southeastern Yukon, including its 60% interest in the Wolverine deposit, which is estimated to contain a resource of 6.2 million tonnes grading 12.66% zinc, 1.55% lead and 1.33% copper, plus 1.76 grams gold and 370.9 grams silver per tonne. In consideration for transferring its Finalyson Lake assets to Expatriate, Boliden will receive a total of 4.9 million Expatriate shares.

In other news, Atna is completing an option joint-venture agreement with Energold Mining (EGD-V) to earn a significant interest in the San Antonio concession in the Dominican Republic. The target is a precious metals-rich volcanogenic massive sulphide prospect. Surface exploration work is expected to begin shortly, with a drill program to follow in the new year.

Atna also reports that exploration drilling on the Palmer property in Alaska has been completed and that results will be released shortly. Atna holds an option to earn a 50% interest in the property from Rubicon Minerals (RMX-V).

In addition, a summary of the Wolf project in the Yukon will be released when final drill assays are received. There, Atna is earning a 65% interest from property owner YGC Resources (YGC-V).