Grandcru eyes Atna’s Clover (March 30, 2004)

Vancouver — An agreement with Atna Resources (ATN-T) sets the stage for Grandcru Resources (GR-V) to earn up to a 70% interest in Atna’s Clover gold project in Elko Cty., Nev.

The project is 18 km west of Newmont Mining‘s (NEM-N) Ken Snyder gold-silver mine.

Grandcru can earn a 55% interest in the property by issuing 1 million shares and spending US$2.5 million on exploration over four years. Grandcru can boost its interest to 70% by completing a bankable feasibility study.

Newmont dropped its option on the property earlier this year after outlining a geophysical anomaly in a structural corridor that coincides with the discovery of high-grade gold in float. Previous drilling in the southern part of the property returned encouraging drill results, including 25.3 grams gold per tonne over 9.7 metres, providing targets for follow-up work.

Atna also plans to drill its Jarbridge gold-silver project in Nevada. The summer program will test bonanza veins in the historic Jarbridge gold-silver camp, which was last explored in 1930. Grab samples of vein material run as high as 120 grams gold.