TORONTO, April 14, 2015 /CNW/ - Atlanta Gold Inc.
(TSXV: ATG; OTC Pink: ATLDF) (the "Company") today reported
that, other than a declared disaster period of high spring runoff
and an uncontrolled release of water flow from the 900 Level adit
(see the Company's news release of June 16,
2014), the arsenic content in 48 weekly samples taken from
the effluent weir averaged 7.9 parts per billion (PPB) for
arsenic. During the first quarter of 2015, the average
of 13 samples was 5 PPB for arsenic, 152 PPB for iron and 2 parts
per million (PPM) for suspended solids. The results from the water
treatment facility compare favourably with the EPA standard shown
below:
|
Arsenic
|
Iron
|
Suspended
Solids
|
Measurement
Unit
|
PPB
|
PPB
|
PPM
|
EPA
Standard
|
10
|
1,000
|
30
|
The Company is pleased to see continued evidence that the water
treatment system developed by Atlanta Gold Corporation, it's
wholly-owned subsidiary, is capable of effectively treating
effluent water containing naturally occurring high arsenic and iron
content. We now believe this technology may have a broader
commercial application.
The ability to treat contaminated waste water and produce a
product that can be recycled is a valuable asset to all, including
the Company.
About the Company
Atlanta Gold Inc. holds through its 100% owned
subsidiary, Atlanta Gold Corporation, leases, options or ownership
interests in its Atlanta
properties which comprise approximately 2,159 acres (8.74 square
kilometres) located 90 air kilometers east of Boise, in Elmore
County, Idaho. A long history of mining makes Atlanta very suitable for development of new
mining projects. The Company is focused on advancing its core
asset, Atlanta, towards mine
development and production.
The Company is also focused on advancing its exploration and
processing methods on the Neal Property, which is located
approximately 15 miles from Boise,
Idaho and comprises approximately 192 acres (0.78 square
kilometres). The Neal Property's geology is similar to that of the
Atlanta Project and it provides the Company with all-season access
to further refine the processing equipment and procedures. In
June 2014, Knife River assigned
certain of its rights and obligations under its lease with the
owner of the Neal Property to AGC. AGC staked an additional seven
contiguous claims on public land that was open to mineral
entry.
Forward-Looking Information
This news release contains forward-looking information and
forward-looking statements (collectively "forward-looking
statements") within the meaning of applicable securities laws with
respect to the refinancing of the Company's debenture. Such
are based upon various assumptions and other factors that
management believes to be reasonable, including that the Company
will reach agreement with CCM and receive the requisite approvals
of the TSX Venture Exchange on a timely basis. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results to differ materially from
those expressed or implied by the forward-looking
statements. Risks and uncertainties that may cause actual
results to vary include the ability to conclude in a timely manner
a refinancing agreement on terms acceptable to the Company and to
the holders of the Company's senior secured notes, the receipt of
all requisite approvals to the refinancing from the TSX Venture
Exchange; the ability of the Company to complete additional
financings on acceptable terms; fluctuations in the gold price and
currency exchange rates; changes in general economic conditions and
in the financial markets; as well as other risks and uncertainties
which are more fully described in the Company's annual and interim
management's discussion and analysis and other filings by the
Company with the securities regulatory authorities, which are
available under the Company's profile at www.sedar.com.
Should one or more risks and uncertainties materialize or should
any assumptions prove incorrect, then actual results could vary
materially from those expressed or implied by the forward-looking
statements and accordingly, readers should not place undue reliance
on the forward-looking statements. Readers are cautioned that
the foregoing lists of risks, uncertainties, assumptions and other
factors are not exhaustive. The forward-looking statements
contained herein are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements contained herein or in any other
documents filed with securities regulatory authorities, whether as
a result of new information, future events or otherwise, except in
accordance with applicable securities laws.
To receive Company news via email, contact info@atgoldinc.com
and mention "Atlanta Gold News" in the subject line.
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.
SOURCE Atlanta Gold Inc.