Meadow Bay gets compliant on Atlanta

 Meadow Bay Gold (MAY-T) now has a mineral resource out for its Atlanta project in Nevada.

The 43-101 compliant resource is based on historic exploration holes drilled by Kinross in the late 1990s and confirmation drilling done by Meadow Bay through 2011.

The estimate considers two zones at the project: the Main and East-West zones. Together the zones have a combined indicated resource of 7.2 million tonnes grading 1.61 grams gold and 7.63 grams silver for 409,487 gold equivalent ounces and inferred resources of 4.7 million tonnes grading 1.1 grams gold and 17.24 grams silver for 215,099 gold equivalent oz.

The calculation is an intermediate step between Kinross’s historic estimate and a more comprehensive estimate that Meadow Bay is currently working towards.

Because it is an intermediate step it only includes the confirmation holes drilled by Meadow Bay, which themselves only made up a small fraction of the 2011 drill program.

The company also emphasized that the estimate doesn’t adequately distinguish between the silicified breccia mineralization and the more recently discovered porphyry-hosted gold mineralization.

Last year began with the company focusing on confirming historic drilling done at the former mine. Seven holes were drilled into the known mineralized zones which confirmed the previous drilling results.

In Toronto on July 19 the company’s shares were up 5 cents to 58 cents on 207,000 shares traded.