HIGHLIGHTS INCLUDE:
TOUQUOY
GOLD
DEPOSIT
|
FIFTEEN MILE
STREAM
GOLD
DEPOSIT
|
COCHRANE
HILL
GOLD
DEPOSIT
|
16m @ 1.65g/t Au
from 33m
|
15m @ 1.50g/t Au
from 101m
|
1m @ 30.2g/t Au
from 173m
|
9m @ 1.64g/t Au
from 27m
|
9m @ 2.91g/t Au
from 220m
|
21m @ 1.65g/t Au
from 247m
|
5m @ 5.19g/t Au
from 41m
|
22m @ 0.95g/t Au
from 159m
|
4m @ 10.38g/t Au
from 159m
|
15m @ 1.57g/t Au
from 43m
|
26m @ 1.41g/t Au
from 154m
|
8m @ 2.39g/t Au
from 204m
|
6m @ 6.25g/t Au
from 43m
|
28m @ 1.06g/t Au
from 174m
|
6m @ 7.96g/t Au
from 138m
|
VANCOUVER, Dec. 5, 2018 /CNW/ - Atlantic Gold Corporation
(TSX-V: AGB) ("Atlantic" or the "Company") is pleased to
provide an update of initial results of resource delineation
drilling programs at the Touquoy, Fifteen Mile Stream and Cochrane
Hill Gold Deposits and progress of exploration of the Phase 4
Corridor Regional Program.
Resource Extension, Touquoy Gold Deposit
Diamond drilling at the Touquoy Gold Deposit was undertaken
during October and November, mainly focused on two areas to the
south of the current pit outside the current resource model where
information is sparse due to a previous lack of access for
drilling. To the southwest of the pit, there was a large area of
historic tailings, which have since been encapsulated in engineered
cells within the existing tailings management facility, making this
area available for drilling.
To the southeast of the pit, removal of a drumlin (a mound of
glacial till) in a clay pit has provided access to an area
previously not drilled.
In both these areas the target was the argillite geological
package on the south-dipping limb of the anticlinal fold that hosts
the ore zone at Touquoy, with the aim of extending known
mineralization. Results to date are in line with expectations,
showing continuity of grade in disseminated mineralization within
the argillites, with isolated high grades in centimeter-wide veins
within the surrounding greywackes. Significant drill results are
included in Table 1. Further assays are pending.
Several additional infill holes have been drilled to the north
of the current pit, targeting argillites in the north limb of the
Touquoy anticline, with the objective of increasing data density
for resource estimation. Assays are still pending from these
holes.
Results from this program will be incorporated into an update of
the Mineral Resources and Mineral Reserves, planned for Q1 2019,
and a follow-up drill program will be initiated if warranted.
Table 1
Significant Drill
Results
(Gold Assay (g/t Au) * Sample Length (m) ≥3.0g/t
Au * m)
RESOURCE EXTENSION, TOUQUOY GOLD
DEPOSIT
December 3,
2018
Hole
ID
|
Easting
|
Northing
|
Dip
|
Az.
|
Depth
(m)
|
Significant
Intervals
(≥0.5g/t Au up to
3m internal dilution)
|
From
(m)
|
To
(m)
|
Width
(m)
|
Grade
(g/t
Au)
|
MR-18-001
|
21651
|
9993
|
-55
|
324
|
122
|
3
|
15
|
12
|
1.20
|
39
|
42
|
3
|
1.82
|
87
|
95
|
8
|
1.12
|
MR-18-002
|
21652
|
9965
|
-60
|
324
|
140
|
24
|
25
|
1
|
14.85
|
36
|
44
|
8
|
0.93
|
83
|
87
|
4
|
1.47
|
MR-18-003
|
21646
|
9940
|
-60
|
324
|
140
|
104
|
109
|
5
|
1.93
|
MR-18-005
|
21676
|
9926
|
-45
|
324
|
142
|
2.45
|
7
|
4.55
|
0.87
|
65
|
69
|
4
|
2.82
|
85
|
89
|
4
|
3.31
|
97
|
107
|
10
|
1.87
|
MR-18-006
|
21676
|
9926
|
-60
|
324
|
140
|
2.36
|
10
|
7.64
|
2.30
|
MR-18-007
|
21679
|
9993
|
-60
|
324
|
110
|
33
|
49
|
16
|
1.65
|
MR-18-008
|
21723
|
9921
|
-45
|
324
|
130
|
24
|
27
|
3
|
1.34
|
76
|
77
|
1
|
3.28
|
103
|
112
|
9
|
1.11
|
MR-18-009
|
21723
|
9921
|
-60
|
324
|
122
|
23
|
26
|
3
|
1.84
|
MR-18-010
|
21750
|
9925
|
-45
|
324
|
121
|
75
|
77
|
2
|
1.61
|
106
|
114
|
8
|
0.53
|
MR-18-011
|
21750
|
9925
|
-60
|
324
|
110
|
64
|
65
|
1
|
6.40
|
MR-18-012
|
21779
|
9952
|
-55
|
324
|
122
|
43
|
44
|
1
|
3.70
|
94
|
99
|
5
|
0.81
|
MR-18-013
|
21800
|
10002
|
-55
|
324
|
101
|
4
|
6
|
2
|
2.74
|
15
|
22
|
7
|
1.56
|
27
|
36
|
9
|
1.64
|
41
|
46
|
5
|
5.19
|
MR-18-014
|
21800
|
9975
|
-55
|
324
|
101
|
35
|
36
|
1
|
5.90
|
43
|
58
|
15
|
1.57
|
MR-18-015
|
21874
|
10009
|
-55
|
324
|
101
|
82
|
85
|
3
|
1.15
|
MR-18-017
|
21974
|
9998
|
-60
|
324
|
152
|
11
|
13
|
2
|
2.15
|
22
|
23
|
1
|
4.58
|
43
|
49
|
6
|
6.25
|
44
|
45
|
1
|
35.70
|
98
|
105
|
7
|
4.30
|
MR-18-020
|
21569
|
9977
|
-55
|
324
|
161
|
60
|
61
|
1
|
16.35
|
MR-18-021
|
21576
|
9942
|
-55
|
324
|
140
|
116
|
117
|
1
|
17.95
|
MR-18-022
|
21575
|
9915
|
-55
|
324
|
140
|
20
|
22
|
2
|
3.78
|
MR-18-024
|
22100
|
10028
|
-45
|
324
|
80
|
16
|
19
|
3
|
8.90
|
18
|
19
|
1
|
25.60
|
24
|
29
|
5
|
1.01
|
52
|
58
|
6
|
2.68
|
MR-18-026
|
22100
|
10083
|
-45
|
324
|
82
|
8
|
9
|
1
|
3.69
|
29
|
32
|
3
|
1.66
|
68
|
69
|
1
|
3.72
|
MR-18-027
|
22125
|
10052
|
-45
|
324
|
82
|
42
|
43
|
1
|
5.53
|
70
|
73
|
3
|
1.83
|
78
|
79
|
1
|
3.32
|
MR-18-028
|
22125
|
10083
|
-45
|
324
|
82
|
6
|
11
|
5
|
1.21
|
15
|
18
|
3
|
1.18
|
MR-18-032
|
22175
|
10062
|
-45
|
324
|
82
|
29
|
34
|
5
|
1.00
|
MR-18-035
|
21550
|
10050
|
-55
|
144
|
140
|
6
|
14
|
8
|
1.62
|
20
|
32
|
12
|
1.14
|
Notes:
· All assay results
are Fire Assays of 50g charge from 1kg pulverized sub-sample split
from ~2mm crushed parent of sawn half 1m NQ core
· ! Mineralization
to the end of hole.
· Table includes
all assay results which are deemed significant, with [Sample Length
(m) * Gold Assay (g/t Au) ≥ 3.0g/t Au*m]
· 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 approximately 80% of the
down-hole width
|
The accompanying drill plan can be viewed here:
https://mma.prnewswire.com/media/793853/Atlantic_Gold_Corporation_Atlantic_Gold_Announces_Exploration_Up.pdf
Resource Extension, Fifteen Mile Stream & Cochrane Hill
Gold Deposits
The Phase 3 Resource Expansion Drill Programs at Fifteen Mile
Stream and Cochrane Hill Gold Deposits completed between
September 2017 and February 2018 successfully identified additional
gold mineralization immediately peripheral to previously defined
mineral resources at both locations. Compilation and analysis of
the results of these programs determined that in the
Egerton-MacLean Zone at Fifteen Mile Stream and at Cochrane Hill
there remained potential to extend the known mineralization. Thus
the current extension drill program, which comprises approximately
11,000 - 13,000 metres of diamond drilling at Fifteen Mile Stream
and 14,000 – 16,000m of drilling at
Cochrane Hill, is designed to achieve that goal.
Egerton-MacLean Zone, Fifteen Mile Stream Gold
Deposit
The Fifteen Mile Stream Gold Deposit is located approximately
57km northeast of the central processing facility at the Moose
River Consolidated Gold Mine 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 a 0.35g/t Au cut-off grade.
Inferred Mineral Resources amount to 6.64 million tonnes at 1.12
g/t Au for 240,000 oz at a 0.35g/t Au cut-off grade (see Company
announcement dated January 29,
2018)1.
The Phase 3 Resource Expansion diamond drilling program at
Fifteen Mile Stream was completed at the end of February with a
total of 221 holes and 24,325m
drilled. Results of this program were announced in earlier news
releases (see Company announcement dated March 15, 2018).
At Fifteen Mile Stream, mineralization comprises disseminated
gold within argillites and greywackes of the Moose River Formation,
as well as coarse gold within bedding-parallel quartz veins. Gold
mineralization is concentrated in three zones:
Egerton-MacLean, Hudson, and Plenty (see location plan). The Hudson
and Egerton-MacLean Zones lie within the hinge and northern limb of
the Fifteen Mile Stream Anticline. Secondary folding and fault
repetition have led to a larger zone of mineralization in the
Egerton-MacLean Zone than in the Hudson Zone. The Plenty Zone is a
tabular body within the overturned southern limb of the Fifteen
Mile Stream Anticline.
The anticline that hosts the Egerton-MacLean Zone plunges
gently to the east, with the northern limb dipping moderately at
70° to the north, and the southern limb overturned and dipping
steeply northwards. All drill holes are drilled to the south.
Phase 3 drilling reported earlier this year indicated that
mineralization was open both down dip to the north and down plunge
to the east. Recent drilling has further defined disseminated
mineralization in the eastern Egerton-MacLean Zone in the
core of the anticline (e.g. 1.41g/t over 26
m in FMS-18-391 on section 13600E) and on the northern limb
of the anticline in the central and western Egerton-MacLean Zone
(e.g, 0.70g/t Au over 9 m in
FMS-18-400 on section 13400E). High-grade, vein-hosted gold
continues to be intercepted in deeper strata along the anticline
hinge zone (e.g., 19.71 g/t Au over 3m in FMS-18-392 on section 13425E).
Drilling is nearing completion. Significant drill results
received to date are included in Table 2.
Table 2
Significant Drill
Results
(Gold Assay (g/t Au) * Sample Length (m) ≥3.0g/t
Au * m)
RESOURCE EXTENSION, FIFTEEN MILE STREAM GOLD
DEPOSIT
December 3,
2018
Hole
ID
|
Easting
|
Northing
|
Dip
|
Az.
|
Depth
(m)
|
Significant
Intervals
(≥0.5g/t Au up to
3m internal dilution)
|
From
(m)
|
To
(m)
|
Width
(m)
|
Grade
(g/t
Au)
|
FMS-18-371
|
13700
|
10200
|
-60
|
180
|
122
|
88
|
100
|
12
|
0.56
|
FMS-18-372
|
13700
|
10200
|
-70
|
180
|
140
|
101
|
116
|
15
|
1.50
|
FMS-18-373
|
13700
|
10207
|
-78
|
180
|
155
|
117
|
125
|
8
|
0.85
|
130
|
131
|
1
|
3.29
|
FMS-18-374
|
13700
|
10180
|
-60
|
180
|
110
|
77
|
85
|
8
|
1.72
|
FMS-18-375
|
13700
|
10160
|
-60
|
180
|
101
|
51
|
52
|
1
|
3.34
|
58
|
71
|
13
|
0.54
|
FMS-18-377
|
13675
|
10220
|
-70
|
180
|
152
|
106
|
107
|
1
|
3.13
|
112
|
126
|
14
|
1.00
|
FMS-18-378
|
13675
|
10220
|
-90
|
180
|
191
|
144
|
155
|
11
|
1.05
|
161
|
162
|
1
|
3.27
|
FMS-18-379
|
13650
|
10220
|
-90
|
180
|
191
|
149
|
162
|
13
|
1.12
|
183
|
186
|
3
|
1.44
|
FMS-18-380
|
13650
|
10220
|
-80
|
180
|
164
|
124
|
129
|
5
|
0.77
|
FMS-18-381
|
13475
|
10280
|
-60
|
180
|
242
|
150
|
161
|
11
|
0.61
|
189
|
197
|
8
|
1.13
|
FMS-18-382
|
13475
|
10295
|
-70
|
180
|
255
|
170
|
184
|
14
|
0.98
|
220
|
229
|
9
|
2.91
|
FMS-18-383
|
13500
|
10300
|
-58
|
180
|
210
|
159
|
181
|
22
|
0.95
|
193
|
198
|
5
|
0.92
|
FMS-18-384
|
13650
|
10220
|
-70
|
180
|
150
|
112
|
116
|
4
|
0.84
|
126
|
137
|
11
|
1.19
|
FMS-18-385
|
13500
|
10300
|
-50
|
180
|
170
|
158
|
159
|
1
|
6.85
|
165
|
170
|
5
|
0.96!
|
FMS-18-386
|
13500
|
10320
|
-65
|
180
|
251
|
182
|
193
|
11
|
0.76
|
FMS-18-387
|
13522
|
10342
|
-68
|
180
|
260
|
164
|
165
|
1
|
5.87
|
169
|
170
|
1
|
13.20
|
FMS-18-388
|
13522
|
10342
|
-62
|
180
|
260
|
158
|
161
|
3
|
1.24
|
195
|
200
|
5
|
0.60
|
210
|
218
|
8
|
1.01
|
244
|
245
|
1
|
7.15
|
FMS-18-389
|
13600
|
10220
|
-90
|
180
|
221
|
173
|
198
|
25
|
0.92
|
FMS-18-390
|
13450
|
10280
|
-65
|
180
|
242
|
162
|
170
|
8
|
0.61
|
192
|
193
|
1
|
108.50
|
205
|
212
|
7
|
9.16
|
209
|
210
|
1
|
21.40
|
211
|
212
|
1
|
25.50
|
FMS-18-391
|
13600
|
10220
|
-80
|
180
|
194
|
125
|
130
|
5
|
0.68
|
154
|
180
|
26
|
1.41
|
184
|
190
|
6
|
2.28
|
FMS-18-392
|
13425
|
10272
|
-58
|
180
|
221
|
128
|
137
|
9
|
0.65
|
141
|
147
|
6
|
0.72
|
179
|
182
|
3
|
19.71
|
181
|
182
|
1
|
57.50
|
FMS-18-393
|
13600
|
10220
|
-70
|
180
|
134
|
95
|
102
|
7
|
0.61
|
FMS-18-394
|
13625
|
10220
|
-90
|
180
|
221
|
146
|
152
|
6
|
0.57
|
174
|
202
|
28
|
1.06
|
215
|
217
|
2
|
1.72
|
FMS-18-395
|
13425
|
10272
|
-68
|
180
|
221
|
76
|
77
|
1
|
35.50
|
127
|
128
|
1
|
3.54
|
148
|
157
|
9
|
0.61
|
FMS-18-396
|
13625
|
10220
|
-80
|
180
|
221
|
113
|
123
|
10
|
0.77
|
139
|
140
|
1
|
3.76
|
FMS-18-397
|
13375
|
10225
|
-55
|
180
|
221
|
86
|
105
|
19
|
0.63
|
FMS-18-400
|
13400
|
10270
|
-71
|
180
|
200
|
147
|
156
|
9
|
0.70
|
176
|
177
|
1
|
27.60
|
184
|
185
|
1
|
4.43
|
FMS-18-401
|
13350
|
10210
|
-60
|
180
|
200
|
87
|
92
|
5
|
0.61
|
FMS-18-402
|
13325
|
10210
|
-65
|
180
|
140
|
132
|
133
|
1
|
3.37
|
FMS-18-405
|
13700
|
10140
|
-60
|
180
|
86
|
47
|
53
|
6
|
0.72
|
FMS-18-406
|
13700
|
10207
|
-88
|
180
|
161
|
133
|
153
|
20
|
0.94
|
FMS-18-407
|
13300
|
9980
|
-45
|
180
|
62
|
23
|
29
|
6
|
0.52
|
Notes:
· All
assay results are Fire Assays of 50g charge from 1kg pulverized
sub-sample split from ~2mm crushed parent of sawn half 1m NQ
core · !
Mineralization to the end of hole. ·
Table includes all assay results which are deemed significant, with
[Sample Length (m) * Gold Assay (g/t Au) ≥ 3.0g/t
Au*m] ·
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 approximately
70-100% of the down-hole width.
|
The accompanying drill plan and cross sections can be viewed
here:
https://mma.prnewswire.com/media/793854/Atlantic_Gold_Corporation_Atlantic_Gold_Announces_Exploration_Up.pdf
1The Mineral Resource estimate for the
Fifteen Mile Stream Gold Deposits 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 March 15, 2018 on SEDAR.
Cochrane Hill Gold Deposit
The Cochrane Hill Gold Deposit is located approximately 80km
northeast of the central processing facility at the Moose River
Consolidated Gold Mine and is readily accessible by highway.
Cochrane Hill's current Measured and Indicated Mineral Resources
stand at 10.66 million tonnes at 1.16 g/t Au for 398,000 oz. at
0.35g/t cut-off grade. Inferred Mineral Resources amount to 1.63
million tonnes at 1.32 g/t Au for 69,000 oz. at 0.35g/t cut-off
grade (see Company announcement January 29,
2018)2.
The Phase 3 Resource Expansion drilling program at Cochrane Hill
was completed in January 2018, with
44 holes for 6,900m having been
drilled. The Cochrane Hill deposit is a fairly predictable and
continuous tabular body dipping about 70o to the north
with an average true width of approximately 20-25m. Drill holes were drilled on 25m x 20m centres
to test for resource extensions of this body eastwards and at depth
to the northeast. Results of this program were announced in earlier
news releases (See Company announcements dated March 15, 2018 and April
4, 2018).
Particularly notable from the results received from the Phase 3
drill program is a robust zone of mineralization over at least a
300m strike length (at approximately
3050E to 3350E) below the previous pit design and about
180m vertically below surface.
Mineralized intervals within this zone have a combined down-hole
width per drill hole averaging 30m
(true width of about 22m) and a
weighted average grade of 2.75g/t Au. This zone is also open at
depth and to the east and has the potential to add high value
ounces to further expand the current in-pit resource.
The current drilling program, designed to test this target, is
on-going with a limited number of assay results being returned to
date; however, mineralization typical of Cochrane Hill has been
observed in most drill holes.
Significant drill results received to date are included in Table
3.
Table 3
Significant Drill
Results
(Gold Assay (g/t Au) * Sample Length (m) ≥3.0g/t
Au * m)
RESOURCE EXTENSION, COCHRANE HILL GOLD
DEPOSIT
December 3,
2018
Hole
ID
|
Easting
|
Northing
|
Dip
|
Az.
|
Depth
(m)
|
Significant
Intervals
(≥0.5g/t Au up to
3m internal dilution)
|
From
(m)
|
To
(m)
|
Width
(m)
|
Grade
(g/t
Au)
|
CH-18-269
|
2975
|
3200
|
-65
|
180
|
230
|
173
|
174
|
1
|
30.2
|
211
|
216
|
5
|
1.08
|
220
|
226
|
6
|
0.58
|
CH-18-270
|
2975
|
3220
|
-63
|
180
|
272
|
226
|
228
|
2
|
4.6
|
247
|
268
|
21
|
1.65
|
CH-18-271
|
3000
|
3160
|
-70
|
180
|
221
|
159
|
163
|
4
|
10.38
|
159
|
160
|
1
|
36.5
|
172
|
180
|
8
|
0.71
|
204
|
212
|
8
|
2.39
|
CH-18-277
|
3025
|
3128
|
-66.5
|
180
|
170
|
138
|
144
|
6
|
7.96
|
141
|
142
|
1
|
44.50
|
Notes:
· All
assay results are Fire Assays of 50g charge from 1kg pulverized
sub-sample split from ~2mm crushed parent of sawn half 1m NQ
core
· !
Mineralization to the end of hole.
·
Table includes all assay results which are deemed significant, with
[Sample Length (m) * Gold Assay (g/t Au) ≥ 3.0g/t Au*m]
·
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 approximately
80-85% of the down-hole width.
|
The accompanying drill plan and cross sections can be viewed
here:
https://mma.prnewswire.com/media/793855/Atlantic_Gold_Corporation_Atlantic_Gold_Announces_Exploration_Up.pdf
2 The Mineral Resource estimate for the
Cochrane Hill Gold Deposit 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 March 15, 2018 on SEDAR.
Update: Corridor Regional Program
Atlantic's mineral properties within the Moose River Corridor,
totalling approximately 171km2, are underlain by units
of the Meguma Supergroup which are the preferred host to the style
of mineralization being mined by the Company at the Touquoy Gold
Deposit. These units also host the Beaver
Dam, Fifteen Mile Stream and Cochrane Hill gold deposits,
which are currently incorporated in the Phase 2 Life of Mine
Expansion Pre-Feasibility Study announced in a news release dated
January 29, 2018.
The "Phase 4 Corridor Regional Program" was initiated in 2018 to
evaluate the under-explored and geologically prospective 45km trend
which extends northeast from its Touquoy Gold Deposit at the
company's Moose River Consolidated Gold Mine ("MRC"), to the Beaver
Dam Gold Deposit and through to the Fifteen Mile Stream gold
deposits in the northeast. This trend is underlain by the Moose
River Formation, a geological unit composed of a sequence of folded
argillites and greywacke which host the gold mineralization at the
Touquoy, Beaver Dam and Fifteen
Mile Stream deposits. The Phase 4 Corridor Regional Program will
comprise a total of up to 100,000 metres of diamond drilling
distributed throughout the Touquoy-Beaver Dam-Fifteen Mile Stream
Corridor.
149 Deposit
Prioritized as part of the Corridor Regional Program based on
favourable interpreted geological and geophysical information and
historical anomalous drill hole results, the 149 Deposit was
discovered by traverses of widely-spaced diamond drilling.
Encouraging initial results were followed-up and shallow
mineralization was intersected over a strike length of 350m. (See News Release dated June 28, 2018).
Additional infill drilling completed identified two zones of
gold mineralization: a shallow, generally higher grade "axial" zone
in the core of a tight anticlinal fold and a thicker, but lower
grade, "limb" zone on the over-turned limb of the anticline. The
zone of mineralization was extended to over 475m in strike and is still open to the east.
(See News Release dated September 19,
2018).
Deeper drilling required to extend the higher grade "axial" zone
and additional shallow drilling required to follow the "limb" zone
closer to surface has commenced. No assay results have been
received to date; however, visual mineralization (carbonate
alteration, pyrrhotite banding, quartz veining and specs of visible
gold) consistent with previously reported significant
mineralization has been intersected in targeted zones. Drilling
will be completed before year-end and results will be incorporated
in a mineral resource estimate in early 2019.
Aeromagnetic interpretation also indicates potential for similar
geological settings to occur further to the east and additional
reconnaissance-spaced drilling has commenced to test these
zones.
Elsewhere, drilling continues within the Corridor Regional
Program. Although no significant assay results have been returned
from drilling completed to date, several geochemically anomalous
trends associated with defined anticlinal fold structures have been
delineated which will require further follow-up drilling in
2019.
The systematic drilling of the entire 50+km strike length of the
Corridor will continue in 2019.
Technical Disclosure
All assays reported 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. Certified standards prepared by a third-party laboratory
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. ALS employ a
standard routine of duplicate and check assays and reference
standards. Standards, blind blanks and duplicate assay results are
within an acceptable range of tolerance. Core recovery is estimated
for each metre and averages 96%.
Douglas A Currie, P. Geo., General Manager-Exploration and Dr
Sally Goodman, P. Geo., Chief
Geoscientist, both Qualified Persons as defined by National
Instrument 43-101 ("NI 43-101"), have reviewed and approved the
contents of this news release.
Further updates will be provided in due course and as new
information comes 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.
About Atlantic:
Atlantic is a well-financed, growth-oriented gold development
group with a long term strategy to build a mid-tier gold production
company focused on manageable, executable projects in
mining-friendly jurisdictions.
Atlantic is focused on growing gold production in
Nova Scotia beginning with its MRC
phase one open pit gold mine which declared commercial production
in March 2018, and its phase two Life
of Mine Expansion which will ramp up gold production to + 200,000
ounces per year at industry lowest decile cash and
all-in-sustaining-costs (as stated in the Company's news releases
dated January 19, 2018 and
January 29, 2018).
Atlantic is committed to the highest standards of
environmental and social responsibility and continually invests in
people and technology to manage risks, maximize outcomes and
returns to all stakeholders.
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 information, including future oriented financial
information (such as guidance) provide investors an improved
ability to evaluate the underlying performance of the
Company. 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, 2017 and for the
quarter ended September 30, 2018 on
the Company's SEDAR profile 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