NEVADA SPECIAL — Golden Chief to drill Atlanta

Junior Golden Chief Resources (GCF-V) will drill eight holes on its Atlanta gold property, along the southern extension of Nevada’s Carlin trend.

The past-producing gold-silver property will be tested by two diamond drill holes and eight reverse-circulation holes. The goal is to test gold mineralization trending from the main Atlanta pit to the south and southeast, a distance of about 1 mile.

The two core holes will be drilled to a targeted depth of 1,600 ft. to determine the extent of gold mineralization below the 1,000-ft. level. The object here is to test a reverse-circulation hole drilled in 1990 by the then-private owner. The bottom 45 ft. of the hole assayed 0.22 oz. gold per ton.

Golden Chief notes that the property’s assets include a 1,000-ton-per-day conventional cyanide mill, assay facilities, a water pipeline, and a 31-mile powerline.

A February 1996 report lists measured reserves on the Atlanta property of 300,000 oz. gold and more than 3 million oz. silver.

Golden Chief has started drilling its Globe Canyon gold property in California’s San Bernardino Cty., near the border with Nevada. Three anomalies will be tested.