Atna to participate in Wolverine (April 26, 2004)

Robust prices for silver and zinc have prompted Vancouver-based Atna Resources (ATN-T) to renew its exploration efforts in the Yukon, including the Wolverine joint venture in the Finlayson Lake region.

Atna recently informed operator Expatriate Resources () that it will fund its 39.4% share of costs for this year’s $525,000 program at the massive-sulphide project. The company also plans to carry out an engineering evaluation and scoping study to determine if Wolverine will support a stand-alone operation.

At last report, Wolverine contained an inferred resource of 6.2 million tonnes grading 12.6% zinc, 1.8 grams gold and 371 grams silver per tonne, 1.3% copper, and 1.5% lead.

Atna previously held a 40% interest in Wolverine, but this was diluted to 39.4% after the company decided not to participate in the 2001 and 2002 work programs.

This year the joint-venture partners will carry out at least 1,000 metres of infill drilling and collect samples for additional metallurgical tests. The program is aimed at advancing Wolverine to the feasibility stage and generating exploration targets.

Atna has other massive-sulphide projects in the Yukon. Geochemical and prospecting surveys are planned for the 66.7%-held Marg deposit, which contains an inferred resource of 5.5 million tonnes grading 4.6% zinc, 1 gram gold, 62.7 grams silver, 1.8% copper, and 2.5% lead. The project is in the Keno Hill region.

Atna also holds numerous, drill-ready gold projects in Nevada, as well as early-stage copper projects in Chile.