Significant Increase In Gold Resource at Pinson Mine
GOLDEN, CO - Atna Resources Ltd. reported the newly updated resource estimate at the Pinson Mine near Winnemucca, Nevada. The study adds a significant open pit mineral resource to the already extensive high-grade underground mineral resource previously reported for Pinson.
"This study demonstrates previously known high-grade underground mineral potential at Pinson and adds a significant open-pit mineral resource. We believe Pinson continues to have further exploration opportunity and are excited by the prospect of Pinson becoming Atna's major gold producer," said James Hesketh, President & CEO.
Atna plans to start commercial underground mine production in the fourth quarter 2012. Underground mine design work is presently underway utilizing the resource model developed in this study. The contract miner at Pinson is currently driving a secondary access and Atna anticipates the mining of bulk metallurgical samples over the next quarter. Atna will begin feasibility study work to develop the open pit potential at Pinson in the coming months as underground production ramps up.
Combined measured and indicated resources estimates for the high grade underground zones were largely unchanged from prior estimates released by Atna in 2007, although inferred resources were reduced. This was due to factors that included the use of more conservative interpolation parameters based on a larger data set, the inclusion of additional data which changed geologic interpretations in local areas, and interaction with open-pit resource estimation.
The company's address is 14142 Denver West Parkway, Suite 250, Golden, CO
(303) 278-8464, fax: (303) 279-3772.