Atna Initiates Development Of Reward Gold Mine
GOLDEN, CO - Atna Resources Ltd. reported that the Nevada Division of Environmental Protection (NDEP) has issued a Reclamation Permit for the Reward Gold Mine near Beatty, Nevada, that became effective February 7, 2010. This permit, subject to the placement of reclamation bonds, will allow Atna to commence construction of the Reward Mine.
Jim Hesketh, President and CEO stated "Receiving this permit is
exciting news because it enables us to accelerate the development of
the Reward deposit. We have hired a project manager to oversee mine
development and plan to open an office in Beatty,
future."
Immediate development activities will include the completion of design
engineering, development of contractor bid packages, and initial
infrastructure development at the site. Infrastructure development
includes access road improvements, fencing, and placement of orders for
long lead-time items, power line and water supply development.
Anticipated cost for this phase of work will be approximately US$3.0
million to be expended over a period of six months.
Phase 2 activities will include the construction of leach pad
facilities, purchase of a semi portable crushing plant, and
installation of office, lab and shop facilities. Pre-stripping of mine
waste would also commence simultaneously with the other construction
activities. Timing on this construction phase will be dependent upon a
number of factors including availability of free cash flow from our
Briggs Mine operation, availability of equipment, staffing and other
financing and logistical issues. We anticipate that Phase 2
construction could be completed within a nine month period after the
completion of Phase 1.
A new estimate of mineral reserves is being developed for the Reward
Project based on the current three year trailing average gold price of
US$845 per ounce. Prior reserve estimates were calculated using a gold
price of US$700 per ounce. Detailed information on the project is
contained in a technical report dated March 21, 2008, prepared by
Chlumsky, Armbrust & Meyer, LLC., titled "NI 43-101 Technical Report -
Reward Gold Project,
The company’s address is