Atna buys stake in Marg property

Junior Atna Resources (ATN-T) has purchased a 66.7% interest in the Marg polymetallic property, near Mayo, Y.T., for $250,000. (The remainder is held by uranium giant Cameco (CCO-T)

The property hosts an indicated resource of 5.5 million tonnes grading 1.8% copper, 4.6% zinc and 2.5% lead, plus 62.7 grams silver and 0.98 gram gold per tonne. Hosted in Devonian-Mississippian metavolcanics and metasediments, the deposit comprises four closely staked massive sulphide lenses averaging 6.1 metres in thickness. Mineralization consists of banded pyrite, chalcopyrite, galena and minor tetrahedrite over a 700-metre strike length to a downdip depth of 450 metres. The deposit remains open along strike and at depth.

Atna intends to carry out mapping, geochemical sampling, geophysics and diamond drilling.

Meanwhile, a 1,500-metre drill program is scheduled for the San Antonio volcanogenic massive sulphide property in the Dominican Republic.

Beginning in early March, the company will test eight targets along a 4-km strike length. Recently, a geophysical survey identified several conductors coincident with gossanous zones and anomalous soil geochemistry.

Several holes will test induced-polarization (IP) and electromagnetic (EM) geophysical responses in the Parcela and Copper zones. These targets are believed to represent thicker extensions of the high-grade massive sulphide mineralization intersected in previous drilling.

The most significant intersection from previous drilling at the Parcela zone was hole SA-01, which cut 3.4 metres averaging 5.88% copper, 3.52% zinc, 0.08% lead, 85.73 grams silver and 2.27 grams gold, starting at a down-hole depth of 88.2 metres. This was followed by a 1.4-metre section that ran 2.44% copper, 10.52% zinc, 0.01% lead, 142.67 grams silver and 1.1 grams gold, starting at a down-hole depth of 135.1 metres.

Previous drilling in the Copper zone intersected 1.9 metres averaging 1.2% copper, 15.84% zinc, 0.03% lead, 23.97 grams silver and 1.31 grams gold, starting at a down-hole depth of 56.1 metres in hole SA-7.

Several of the new holes are designed to test coincident anomalies on parts of the property that have yet to be drill-tested.

Atna stands to earn a 60% interest in the San Antonio-1 Concession from Energold Mining (EGD-V) in return for US$3 million in exploration expenditures and US$300,000 worth of shares over a 4-year period.