Atna Resources Reports Assay Results from Pinson Mine, Nevada


Atna Resources Ltd. (ATN.TO) reported head grade assay results from the Mag Pit metallurgical drilling program at its Pinson Mine near Winnemucca, Nevada.

In May and June of this year, Atna completed four large diameter core holes to confirm continuity of mineralization and to acquire metallurgical sample materials from the potential open pit resource in the Mag Pit area of the property.

The Mag Pit zone is separated from the underground mine and may be developed independently after permitting is completed. Head assay results confirm the grade and continuity of the modeled resource and will provide sample material for the metallurgical work which is underway, as part of a prefeasibility study.

"This drilling was successful in confirming strong continuity of the gold resource remaining in the Mag pit," said Atna's President & CEO, James Hesketh. "Gold was previously produced from the Mag pit by conventional open pit, heap leach methods. Production ceased in 1999 due to low gold prices. Information from this metallurgical study program will be utilized to confirm past results and to provide additional data for process design. A reputable engineering firm has been retained to complete a pre-feasibility study to demonstrate the potential economic viability of developing an open-pit heap leach operation at Pinson. The study is targeted for completion in the first half of 2013."

ATN shares fell 6% to $1.20 on higher than average volume of nearly 429,000.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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