Vancouver – Shifting away from its traditional base metal roots, Atna Resources (ATN-T) has picked up two gold prospects at the north end of the Nevada’s prolific Carlin gold district.
The Golden Cloud property ties on to the south boundary of Great Basin Gold’s (GBG-V) Ivanhoe deposit, which is being developed by Hecla Mining (HL-N). Earlier work on the property identified banded-to-vuggy chalcedonic and opaline quartz with anomalous gold and mercury values. Recent prospecting exposed opaline sinters with visible cinnabar mineralization.
Some 20 km south of the Golden Cloud property, the junior also inked a deal to over the Beowawe property.Previous drilling hit multiple quartz rich structures with anomalous gold and mercury values. Bnded chalcedonic quartz have been identifed in outcrop.
Atna plans to run a geophysical and geochemical program over both projects in an attempt to define drill targets.
Under the terms of the deal, the junior must make an advance royalty payment of US$20,000 on signing a definitive deal, plus US$20,000 after 1 year increasing up to US$100,000 by the fifth year and US$100,000 a year thereafter. The company also agreed to issue 150,000 shares over 2 years and drill 3,000 metres within three years. The owner retains a 3% net smelter royalty. The terms are the same for both the Golden Cloud and Beowawe properties.
Atna now hold 4 projects in the Carlin and Northern Nevada rift trends.
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