July 9, 2009
ATW Gold Corp (ATW: TSX-V), (“ATW” or the “Company”), is pleased to report the first drill results from the 10,000 metre drill program underway at the Company’s wholly owned Gullewa Gold Mine in Western Australia. The current program is designed to accomplish two goals: 1) Confirm widths and grade of mineralization in the Main Deflector deposit previously defined through reverse circulation drilling; and 2) Test potential extensions north and south of the main Deflector deposit.
To date, the Company has completed 34 diamond drill holes with assay results having been received for 13 of the completed drill holes. Significant results of the first holes into the Main Deflector deposit are as follows:
Table 1 - Confirmation Drilling of the Main Deflector Deposit
|
Hole
ID |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Cu
(%) |
Ag
(g/t) |
|
9DEF001 |
98 |
105 |
7 |
1.54 |
4.8 |
21.8 |
|
9DEF002 |
79.8 |
82 |
2.2 |
1.53 |
2.4 |
21.4 |
|
and |
98 |
99 |
1 |
89.63 |
2.4 |
25.0 |
|
9DEF003 |
85 |
87 |
2 |
6.92 |
1.6 |
20.5 |
|
and |
100 |
107 |
7 |
15.68 |
3.2 |
22.0 |
|
9DEF004 |
98 |
102 |
4 |
4.25 |
3.9 |
14.3 |
|
9DEF005 |
89 |
90 |
1 |
9.51 |
0.1 |
2.0 |
|
9DEF006 |
50 |
54 |
4 |
5.50 |
1.4 |
10.2 |
|
9DEF007 |
55.5 |
72.5 |
17 |
1.58 |
2.5 |
16.4 |
|
Incl. |
68.5 |
70.5 |
2 |
8.45 |
13.3 |
117.4 |
|
9DEF009 |
124 |
127 |
3 |
2.91 |
0.5 |
4.0 |
|
and |
148 |
149 |
1 |
2.24 |
0.0 |
0.0 |
|
and |
159 |
160 |
1 |
2.96 |
0.1 |
0.0 |
|
9DEF011 |
67 |
68 |
1 |
4.04 |
Pending |
Pending |
Prior to beginning the current drill program, analysis and interpretation of gravity and induced polarization data south of the Main Deflector deposit indicated that there is approximately 900 metres of untested strike length to the south and down-plunge of the known mineralization. The strike length of the known mineralization is approximately 930 metres.
At present, the Company has received assay results for only a portion of completed step-out drill holes. Of particular importance is drill hole 9DEF013, which is located 600 metres south and 300 metres west of the Main Deflector deposit and intersected significant gold copper mineralization over a 28 metre interval. Assay results are as follows:
Table 2 – Step-Out Drilling at Deflector South
|
Hole
ID |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Cu
(%) |
Ag
(g/t) |
|
9DEF008 |
25 |
29 |
4 |
2.16 |
0.30 |
1.30 |
|
9DEF013 |
66 |
94 |
28 |
1.54 |
0.47 |
1.77 |
|
Incl. |
69 |
71 |
2 |
5.35 |
0.86 |
1.50 |
|
Incl. |
76 |
77 |
1 |
1.05 |
2.83 |
11.0 |
|
Incl. |
80 |
83 |
3 |
4.92 |
0.68 |
3.66 |
The mineralization at Deflector consists of steeply dipping, northeast-trending quartz veins with pyrite, chalcopyrite and pyrrhotite. Drill hole 9DEF013 contains similar mineralization. Supergene gold, copper and silver mineralization was encountered within basalt at the saprolite / saprock interface from 66 to 71 metres down hole. Minor quartz veining was also encountered. Fresh rock was encountered at 71 metres. The host is a pyritic basalt with epidote and chlorite alteration. Intermittent brecciation was encountered from 78 to 108 metres down hole. This zone has quartz veining with pyrite, pyrrhotite and chalcopyrite.
In addition, 9DEF008, located 400 metres south of Main Deflector, appears to have intercepted a possible southern extension to the Main Deflector deposit in a shallow intercept above 30 metres, as the hole just pierced the top of the mineralized zone. Drill holes 9DEF010 and 9DEF012 did not contain any significant results.
Brent Butler, Chief Executive Officer and President, commented: "This new discovery in drill hole 9DEF013 represents either a new mineralized zone or a possible fault offset to the southern end of the Deflector deposit. In either case it is a major breakthrough and drill rigs are currently being mobilized to the area to delineate this new discovery.”
All assays were completed by Genalysis Laboratory Services in Perth. Samples were dried, crushed and pulverized with 85% of the sample achieving minus 75 micron. Gold Analysis was completed by 50 gram fire assay with a detection limit of 0.01 ppm. Cu and Ag were analyzed by AAS using an acid digest with detection limits of 1 ppm. Brent Butler, President and CEO of ATW Gold Corp. is the qualified person under National Instrument 43-101 and has reviewed the contents of this news release.
Gullewa is located 450 kilometres north of Perth, in the Yalgoo mineral fields of Western Australia. Gullewa is a 550 sq kilometre property that hosts several gold deposits of various size and grade, the most significant being the Deflector gold-copper deposit. which contains a measured and indicated resource of 369,000 ounces at 6.75 grams per tonne (g/t) gold equivalent (“AuEq”) and an inferred resource of 400,000 ounces at 7.71 g/t AuEq (gold equivalent ounces, AuEq, are calculated using the ratio: 1% copper = 2.5 g/t gold and a cut-off grade of 1.0 g/t AuEq). Mining infrastructure assets at Gullewa include a 800 tonne per day CIL plant, a licensed tailings disposal facility, a 50-person camp, offices, and workshops.
To find out more about ATW Gold Corp. please contact investor relations at 604-662-8184 or email investor@atwgold.com. You may also visit our website at www.atwgold.com.
ATW Gold Corp.
“Brent Butler”
Brent Butler
President & CEO
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”
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