HIGHLIGHTS INCLUDE:
Egerton Maclean:
11m @ 2.22g/t from 24m, 23m @ 1.04g/t
from 7m and
24m @ 1.25g/t from 156m.
Hudson: 23m @ 2.32g/t from 14m, 23m @ 1.86g/t
from 48m (incl 1m @ 21.50g/t),
11m @ 3.33g/t from 61m
Plenty: 9m @ 2.20g/t from 118m, 9m @ 3.15g/t
from 93 (incl 1m @ 25.10g/t from
99m)
Plenty to Egerton
Maclean Gap: 7m @ 1.99 g/t from
50m and 10m @ 0.91g/t from 23m.
Infilling, and Identifying Extensions to Known
Mineralization at Fifteen Mile Stream
VANCOUVER, Jan. 17, 2018 /CNW/ - Atlantic Gold
Corporation (TSX-V: AGB) ("Atlantic" or the "Company") is
pleased to report further assay results received from the Phase 3
Resource Expansion drilling program at the Fifteen Mile Stream gold
deposit.
Fifteen Mile Stream is located
approximately 57km northeast of the central processing facility at
Touquoy and is readily accessible by highway. Fifteen Mile Stream's current measured and indicated
mineral resources stand at 10.59 million tonnes at 1.33 g/t Au for
452,000 oz. at 0.35g/t cut-off grade. Inferred mineral
resources amount to 6.64 million tonnes at 1.12 g/t Au for 240,000
oz. at 0.35g/t cut-off grade (see Company announcement July 21, 2017)1.
|
The objectives of the
Phase 3 Resource Expansion drilling program are to:
|
|
i.
|
identify additional
gold resources immediately peripheral to those resources previously
defined at Fifteen Mile Stream and Cochrane Hill;
|
|
ii.
|
at Cochrane Hill and
at Fifteen Mile Stream – particularly at the Hudson and Plenty
zones, upgrade previously defined inferred resources to measured
and indicated categories; and
|
|
iii.
|
seek additional new
resources within the 350m gap between the Plenty and Egerton
MacLean zones at Fifteen Mile Stream.
|
|
1 The Mineral Resource estimate for Fifteen Mile
Stream is quoted at a cut-off grade of 0.35g/t. It has an effective
date of July 20, 2017 and was prepared as part of a technical
report in accordance with NI 43-101 by Mr. Neil Schofield, a
principal of FSSI (Australia) Pty Ltd, released on September 1,
2017 on SEDAR.
|
Up until the end of 2017 a total of 185 holes for 21,000m have been drilled at Fifteen Mile Stream,
with the first drilling for 2018 having just re-commenced. Holes
are generally drilled on 25m x
20m centres, although first-pass
drilling along the 350m gap between
Plenty and Egerton MacLean holes have been drilled on 50m-spaced sections.
Assay results have now been received from a further 71 holes,
with just over half of all assays expected from this program having
now been received. Although these assayed holes are widely
distributed along the trend of the mineralized anticline it is
apparent that:
|
a)
|
drilling on 25m
infill sections at Hudson confirms shallow continuous
mineralization between the existing 50m-spaced sections (eg. 23m @
2.32g/t from 14m).
|
|
b)
|
infill drilling on
25m-spaced sections at the western end of Egerton MacLean continues
to confirm continuity of shallow mineralization (eg. 11m @ 2.22g/t
from 24m) between previous 50m-spaced sections; and
|
|
c)
|
Plenty represents a
near-surface, northerly dipping, tabular zone of gold
mineralization defined by intersections of both moderate grades
over many metres (eg. 9m @ 2.2g/t) and high grades over more
isolated, narrow intervals (eg. 1m @ 55.8g/t). Further drilling is
now being undertaken to better define the controls and distribution
of the mineralization here.
|
|
d)
|
In the gap zone
between Egerton Maclean and Plenty the Plenty mineralization
appears to be traceable eastwards, at least in the shallow levels
so far tested and for which assays are so far in hand. We
await the receipt of further assays for this zone.
|
The accompanying cross sections and drilling progress plan can
be viewed here:
http://files.newswire.ca/1485/AtlanticGold_map.pdf
Assay results are tabulated below:
|
Hole id
|
Easting
|
Northing
|
Dip
|
Az.
|
Depth
(m)
|
Significant
Intervals
(≥0.5g/t Au and up to
3m internal
dilution)
|
|
From
(m)
|
To
(m)
|
Width
(m)
|
Grade
(g/t Au)
|
|
EGERTON
MACLEAN
|
|
FMS-17-206^
|
13250
|
10000
|
-45
|
175
|
121
|
12
|
28
|
16
|
1.10
|
|
and
|
|
|
|
|
|
83
|
91
|
9
|
1.00
|
|
FMS-17-244
|
13250
|
9960
|
-45
|
175
|
101
|
26
|
37
|
11
|
1.03
|
|
FMS-17-262
|
13525
|
10320
|
-60
|
175
|
250
|
114
|
115
|
1
|
7.60
|
|
and
|
|
|
|
|
|
191
|
206
|
15
|
0.89
|
|
and
|
|
|
|
|
|
249
|
250
|
1
|
5.06!
|
|
FMS-17-263^
|
13550
|
10320
|
-60
|
175
|
251
|
184
|
195
|
11
|
0.81
|
|
and
|
|
|
|
|
|
199
|
207
|
8
|
1.13
|
|
FMS-17-265
|
13375
|
10130
|
-75
|
175
|
140
|
15
|
19
|
4
|
4.71
|
|
and
|
|
|
|
|
|
31
|
32
|
1
|
4.59
|
|
and
|
|
|
|
|
|
37
|
38
|
1
|
3.45
|
|
and
|
|
|
|
|
|
90
|
91
|
1
|
22.90
|
|
FMS-17-266
|
13600
|
10320
|
-70
|
175
|
251
|
159
|
160
|
1
|
45.0
|
|
and
|
|
|
|
|
|
194
|
199
|
5
|
0.70
|
|
and
|
|
|
|
|
|
206
|
215
|
9
|
0.79
|
|
and
|
|
|
|
|
|
223
|
235
|
12
|
0.83
|
|
FMS-17-267
|
13375
|
10130
|
-50
|
175
|
40
|
|
|
|
NSA
|
|
FMS-17-268^
|
13675
|
10120
|
-60
|
175
|
71
|
18
|
24
|
6
|
0.77
|
|
FMS-17-269
|
13375
|
10050
|
-45
|
175
|
52*
|
28
|
41
|
13
|
0.77
|
|
and
|
|
|
|
|
|
47
|
52
|
5
|
2.12!
|
|
FMS-17-272
|
13575
|
10100
|
-45
|
175
|
112
|
7
|
30
|
23
|
1.04
|
|
and
|
|
|
|
|
|
43
|
44
|
1
|
8.20
|
|
and
|
|
|
|
|
|
51
|
63
|
12
|
1.29
|
|
FMS-17-273^
|
13575
|
10280
|
-60
|
175
|
200
|
156
|
180
|
24
|
1.25
|
|
FMS-17-276^
|
13375
|
10030
|
-45
|
175
|
80
|
24
|
35
|
11
|
2.22
|
|
FMS-17-278^
|
13325
|
10025
|
-45
|
175
|
100
|
16
|
19
|
3
|
1.05
|
|
and
|
|
|
|
|
|
25
|
38
|
13
|
0.80
|
|
and
|
|
|
|
|
|
42
|
45
|
3
|
1.63
|
|
and
|
|
|
|
|
|
51
|
57
|
6
|
0.56
|
|
FMS-17-279^
|
13300
|
10000
|
-45
|
175
|
92
|
18
|
25
|
7
|
4.30
|
|
and
|
|
|
|
|
|
30
|
31
|
1
|
4.47
|
|
and
|
|
|
|
|
|
44
|
45
|
1
|
5.75
|
|
and
|
|
|
|
|
|
62
|
68
|
6
|
0.58
|
|
|
HUDSON
|
|
FMS-17-215^
|
12250
|
10000
|
-45
|
175
|
152
|
62
|
63
|
1
|
4.76
|
|
and
|
|
|
|
|
|
89
|
94
|
5
|
1.19
|
|
FMS-17-216
|
12375
|
10020
|
-45
|
175
|
61
|
14
|
37
|
23
|
2.32
|
|
and
|
|
|
|
|
|
42
|
50
|
8
|
0.80
|
|
and
|
|
|
|
|
|
58
|
61
|
3
|
0.97!
|
|
FMS-17-217^
|
12300
|
10080
|
-45
|
175
|
200
|
42
|
46
|
4
|
0.56
|
|
and
|
|
|
|
|
|
78
|
92
|
14
|
0.94
|
|
and
|
|
|
|
|
|
116
|
122
|
6
|
0.85
|
|
FMS-17-218
|
12375
|
10040
|
-45
|
175
|
82
|
26
|
37
|
11
|
0.42
|
|
and
|
|
|
|
|
|
41
|
51
|
10
|
1.94
|
|
and
|
|
|
|
|
|
55
|
64
|
9
|
1.03
|
|
and
|
|
|
|
|
|
69
|
75
|
6
|
0.65
|
|
FMS-17-219
|
12375
|
10060
|
-45
|
175
|
91
|
15
|
25
|
10
|
0.91
|
|
and
|
|
|
|
|
|
40
|
42
|
2
|
2.77
|
|
and
|
|
|
|
|
|
48
|
71
|
23
|
1.86
|
|
incl.
|
|
|
|
|
|
57
|
58
|
1
|
21.50
|
|
and
|
|
|
|
|
|
81
|
86
|
5
|
1.38
|
|
FMS-17-221^
|
12375
|
10080
|
-45
|
175
|
112
|
27
|
42
|
15
|
0.77
|
|
and
|
|
|
|
|
|
47
|
56
|
9
|
0.76
|
|
and
|
|
|
|
|
|
62
|
63
|
1
|
6.77
|
|
and
|
|
|
|
|
|
81
|
87
|
6
|
4.09
|
|
FMS-17-222^
|
12375
|
10100
|
-45
|
175
|
130
|
61
|
68
|
7
|
1.88
|
|
and
|
|
|
|
|
|
99
|
103
|
4
|
3.03
|
|
FMS-17-223^
|
12325
|
10040
|
-45
|
175
|
92
|
29
|
30
|
1
|
4.82
|
|
and
|
|
|
|
|
|
89
|
92
|
3
|
1.08!
|
|
FMS-17-225^
|
12325
|
10060
|
-45
|
175
|
110
|
48
|
57
|
9
|
1.20
|
|
and
|
|
|
|
|
|
67
|
72
|
5
|
0.64
|
|
FMS-17-226
|
12325
|
10080
|
-45
|
175
|
131
|
46
|
47
|
1
|
7.04
|
|
and
|
|
|
|
|
|
70
|
73
|
3
|
1.36
|
|
FMS-17-227^
|
12425
|
10120
|
-45
|
175
|
142
|
89
|
95
|
6
|
1.78
|
|
and
|
|
|
|
|
|
100
|
120
|
20
|
0.91
|
|
FMS-17-228
|
12325
|
10020
|
-45
|
175
|
71
|
32
|
33
|
1
|
12.85
|
|
FMS-17-229^
|
12300
|
10020
|
-45
|
175
|
62
|
|
|
|
NSA
|
|
FMS-17-231
|
12325
|
10140
|
-45
|
175
|
196
|
139
|
144
|
5
|
1.58
|
|
FMS-17-233^
|
12400
|
10000
|
-60
|
175
|
50
|
19
|
22
|
3
|
1.95
|
|
and
|
|
|
|
|
|
30
|
37
|
7
|
0.96
|
|
FMS-17-234^
|
12400
|
10100
|
-60
|
175
|
131
|
71
|
74
|
3
|
2.02
|
|
and
|
|
|
|
|
|
105
|
116
|
11
|
1.73
|
|
FMS-17-236^
|
12450
|
10100
|
-60
|
175
|
140
|
25
|
29
|
4
|
7.39
|
|
and
|
|
|
|
|
|
50
|
53
|
3
|
1.24
|
|
and
|
|
|
|
|
|
59
|
63
|
4
|
2.53
|
|
and
|
|
|
|
|
|
92
|
104
|
12
|
1.40
|
|
FMS-17-238^
|
12350
|
10100
|
-60
|
175
|
170
|
111
|
117
|
6
|
2.29
|
|
FMS-17-239^
|
12350
|
10120
|
-60
|
175
|
191
|
95
|
98
|
3
|
1.35
|
|
FMS-17-241^
|
12425
|
10100
|
-45
|
175
|
119
|
94
|
100
|
6
|
1.32
|
|
FMS-17-243^
|
12425
|
10080
|
-45
|
175
|
101
|
4
|
5
|
1
|
7.21
|
|
and
|
|
|
|
|
|
53
|
54
|
1
|
4.96
|
|
and
|
|
|
|
|
|
61
|
72
|
11
|
3.33
|
|
and
|
|
|
|
|
|
78
|
86
|
8
|
1.94
|
|
FMS-17-246^
|
12425
|
10060
|
-45
|
175
|
82
|
5
|
6
|
1
|
4.23
|
|
and
|
|
|
|
|
|
16
|
21
|
5
|
1.99
|
|
and
|
|
|
|
|
|
46
|
47
|
1
|
6.43
|
|
and
|
|
|
|
|
|
59
|
67
|
8
|
0.97
|
|
FMS-17-249^
|
12425
|
10040
|
-45
|
175
|
70
|
5
|
10
|
5
|
1.98
|
|
and
|
|
|
|
|
|
28
|
29
|
1
|
12.10
|
|
and
|
|
|
|
|
|
41
|
53
|
12
|
1.52
|
|
|
PLENTY
|
|
PL-17-022^
|
12850
|
9840
|
-60
|
175
|
170
|
118
|
127
|
9
|
2.20
|
|
and
|
|
|
|
|
|
137
|
142
|
5
|
0.54
|
|
PL-17-023^
|
12850
|
9820
|
-60
|
175
|
140
|
93
|
102
|
9
|
3.15
|
|
incl.
|
|
|
|
|
|
99
|
100
|
1
|
25.10
|
|
and
|
|
|
|
|
|
113
|
118
|
5
|
2.84
|
|
PL-17-024^
|
12850
|
9800
|
-60
|
175
|
110
|
62
|
63
|
1
|
55.80
|
|
and
|
|
|
|
|
|
78
|
79
|
1
|
11.65
|
|
and
|
|
|
|
|
|
97
|
98
|
1
|
12.30
|
|
PL-17-025^
|
12800
|
9800
|
-60
|
175
|
131
|
|
|
|
NSA
|
|
PL-17-028
|
12750
|
9800
|
-60
|
175
|
140
|
90
|
91
|
1
|
12.20
|
|
and
|
|
|
|
|
|
112
|
113
|
1
|
15.00
|
|
PL-17-031
|
12700
|
9800
|
-60
|
175
|
161
|
123
|
127
|
4
|
0.78
|
|
PL-17-032
|
12700
|
9780
|
-60
|
175
|
140
|
94
|
95
|
1
|
3.28
|
|
PL-17-033
|
12650
|
9800
|
-60
|
175
|
161
|
122
|
123
|
1
|
11.80
|
|
PL-17-034
|
12650
|
9780
|
-60
|
175
|
143
|
104
|
108
|
4
|
1.31
|
|
PL-17-035
|
12625
|
9780
|
-60
|
175
|
161
|
|
|
|
NSA
|
|
PL-17-041
|
12825
|
9820
|
-60
|
175
|
140
|
106
|
110
|
4
|
5.24
|
|
and
|
|
|
|
|
|
117
|
118
|
1
|
18.35
|
|
PL-17-042
|
12825
|
9800
|
-60
|
175
|
122
|
75
|
88
|
13
|
0.39
|
|
PL-17-043
|
12825
|
9780
|
-60
|
175
|
92
|
57
|
65
|
8
|
0.43
|
|
PL-17-044
|
12875
|
9820
|
-60
|
175
|
140
|
21
|
22
|
1
|
8.50
|
|
PL-17-045
|
12875
|
9800
|
-60
|
175
|
131
|
66
|
69
|
3
|
3.45
|
|
and
|
|
|
|
|
|
75
|
76
|
1
|
6.79
|
|
and
|
|
|
|
|
|
84
|
85
|
1
|
10.25
|
|
PL-17-073
|
12825
|
9740
|
-60
|
175
|
61
|
8
|
9
|
1
|
5.18
|
|
and
|
|
|
|
|
|
19
|
20
|
1
|
31.2
|
|
and
|
|
|
|
|
|
30
|
31
|
1
|
9.97
|
|
PL-17-076^
|
12825
|
9760
|
-60
|
175
|
82
|
|
|
|
NSA
|
|
|
PLENTY TO EGERTON
MACLEAN GAP
|
|
PL-17-049^
|
13100
|
9900
|
-45
|
175
|
100
|
25
|
30
|
5
|
0.65
|
|
PL-17-050^
|
13100
|
9880
|
-45
|
175
|
100
|
|
|
|
NSA
|
|
PL-17-058^
|
13150
|
9920
|
-45
|
175
|
100
|
23
|
33
|
10
|
0.91
|
|
PL-17-060^
|
13050
|
9840
|
-45
|
175
|
100
|
|
|
|
NSA
|
|
PL-17-061^
|
13150
|
9900
|
-45
|
175
|
100
|
|
|
|
NSA
|
|
PL-17-066^
|
13000
|
9840
|
-45
|
175
|
100
|
50
|
57
|
7
|
1.99
|
|
FMS-17-245
|
13250
|
9940
|
-45
|
175
|
101
|
8
|
11
|
3
|
1.17
|
|
FMS-17-247
|
13250
|
9920
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-248
|
13250
|
9900
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-250^
|
13200
|
10000
|
-45
|
175
|
101
|
16
|
17
|
1
|
6.33
|
|
FMS-17-252^
|
13200
|
9900
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-253^
|
13200
|
9980
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-254^
|
13200
|
9920
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-255^
|
13200
|
9880
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-256^
|
13200
|
9960
|
-45
|
175
|
101
|
50
|
61
|
11
|
0.69
|
|
FMS-17-257^
|
13425
|
9840
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-258^
|
13425
|
9820
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
FMS-17-259^
|
13425
|
9800
|
-45
|
175
|
101
|
|
|
|
NSA
|
|
! Mineralization to
end of hole
NSA: No significant assays; that is, no intervals ≥ 3.0g/t x
m.
^ fire assays of 50g charge from 1kg pulverized sub-sample split
from -2mm crushed parent of half sawn 1m NQ core. All others are
fire assays of 50g charge from 1kg pulverized sub-sample split from
-2mm crushed parent of whole 1m NQ.
|
True width of the mineralization varies according to the dip of
the host stratigraphy and declination of the relevant drill hole.
For intersections quoted above true width averages 90% of the
down-hole width.
Nature of the mineralization:
Mineralization at Egerton MacLean and Hudson occurs within
argillites, greywackes and bedding-parallel quartz veins across the
hinge zone and limbs of the E-W trending Fifteen Mile Stream (FMS)
Anticline. The northern limb of the anticline dips moderately
north, with the southern limb overturned (generally steeply north
dipping). All holes are therefore declined to the south.
Highest grades so far encountered occur within the hinge zone of
the anticline. Mineralization at Plenty is tabular in overall
disposition and is thought to be hosted in a deeper, up-faulted
southern limb of the Fifteen Mile Stream anticline. Free gold
is commonly observed, and in association with pyrrhotite and
arsenopyrite.
Technical Disclosure
At Fifteen Mile Stream all assays by default are 50g charge fire
assays of 1kg pulverized sub-sample split from -2mm crushed parent
of whole 1m NQ core, with 1-in-10
duplicate assays of the same pulp, and 1-in-10 assays of a second
1kg pulverized sub-sample split from the same crushed parent. Where
otherwise noted (^) assays are 50g charge fire assays of 1kg
pulverized sub-sample split from -2mm crushed parent of sawn half
1m NQ core, with 1-in-10 duplicate
assays of the same pulp. Standards and blind blanks are routinely
inserted. Sample preparation and assaying is conducted at the
Sudbury and Vancouver laboratories of ALS Canada Ltd, an
entity having no other relationship with the Company. Core
recovery is estimated for each metre and averages >97%,
excluding occasional voids, usually <2m, representing historic underground workings.
Wing samples to voids may be less than 1m to re-establish routine sampling on
1m intervals. Drill core in the
hangingwall of the northern limb of the anticline where adjacent
historic holes very clearly indicate this upper stratigraphy to be
barren may not be sampled and assayed. Standards, blanks and
duplicate assay results are acceptable.
Results and updates from this drilling program will be reported
progressively.
Wally Bucknell, Director of
Exploration to the Company and a Qualified Person as defined by
National Instrument 43-101 ("NI 43-101") has reviewed and approved
the contents of this news release.
Further updates will be provided in due course and as new
results come to hand.
On behalf of the Board of Directors,
Steven Dean
Chairman and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements:
This release contains certain "forward looking statements"
and certain "forward-looking information" as defined under
applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans"
or similar terminology. Forward-looking statements and information
are not historical facts, are made as of the date of this press
release, and include, but are not limited to, statements regarding
discussions of future plans, guidance, projections, objectives,
estimates and forecasts and statements as to management's
expectations with respect to, among other things, the activities
contemplated in this news release and the timing and receipt of
requisite regulatory, and shareholder approvals in respect thereof.
Forward-looking statements in this news release include, without
limitation, statements related to proposed exploration and
development programs, grade and tonnage of material and resource
estimates. These forward looking statements involve numerous risks
and uncertainties and actual results may vary. Important factors
that may cause actual results to vary include without limitation,
the timing and receipt of certain approvals, changes in commodity
and power prices, changes in interest and currency exchange rates,
risks inherent in exploration estimates and results, timing and
success, inaccurate geological and metallurgical assumptions
(including with respect to the size, grade and recoverability of
mineral reserves and resources), changes in development or mining
plans due to changes in logistical, technical or other factors,
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with
specifications, cost escalation, unavailability of materials,
equipment and third party contractors, delays in the receipt of
government approvals, industrial disturbances or other job action,
and unanticipated events related to health, safety and
environmental matters), political risk, social unrest, and changes
in general economic conditions or conditions in the financial
markets. In making the forward-looking statements in this press
release, the Company has applied several material assumptions,
including without limitation, the assumptions that: (1) market
fundamentals will result in sustained gold demand and prices; (2)
the receipt of any necessary approvals and consents in connection
with the development of any properties; (3) the availability of
financing on suitable terms for the development, construction and
continued operation of any mineral properties; and (4) sustained
commodity prices such that any properties put into operation remain
economically viable. Information concerning mineral reserve and
mineral resource estimates also may be considered forward-looking
statements, as such information constitutes a prediction of what
mineralization might be found to be present if and when a project
is actually developed. Certain of the risks and assumptions are
described in more detail in the Company's audited financial
statements and MD&A for the year ended December 31, 2016 and for the quarter ended
September 30, 2017 on the SEDAR
website at www.sedar.com. The actual results or performance by the
Company could differ materially from those expressed in, or implied
by, any forward-looking statements relating to those matters.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what impact they will have on the
results of operations or financial condition of the Company. Except
as required by law, the Company is under no obligation, and
expressly disclaim any obligation, to update, alter or
otherwise revise any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws.
SOURCE Atlantic Gold Corporation
