December 1, 2009
ATW Gold Corp., (ATW: TSX-V), (“ATW” or the “Company”), is pleased to report on additional drill results from its wholly owned Gullewa Gold Mine (“Gullewa”) located in Western Australia. Highlights include a 0.8 metre (m) intercept grading 418.58 grams per tonne (g/t) gold, 16.75 percent copper and 173 g/t silver and a 2.3m intercept, grading 55.04 g/t gold, 2.19 percent copper and 32.17 g/t silver.
The Phase II program consisted of five core holes totaling 599 metres drilled south of the Deflector deposit to follow up on mineralization discovered during the drill program completed in July, 2009. Results of all drill holes are tabulated below:
Drill holes 09DEF101, 09DEF102 and 09DEF103 were drilled 70 metres south of the Deflector Central lode on 20m centers to further evaluate the area around hole 9DEF034 which intersected 7m averaging 11.01g/t gold and 0.3% copper (drilled during the phase one drill program).
Mineralization is characterized by a series of steeply dipping quartz veins containing pyrite and chalcopyrite, hosted in basalt. Structural data confirms continuity of mineralization from one hole to the next, with grade increasing with depth.
Holes 09DEF104 and 09DEF105 were drilled 30m south of the Deflector Central lode on 40m centers. Mineralization is characterized by a number of steeply dipping rich auriferous quartz veins with pyrite and chalcopyrite occurring both within the veins and to a lesser extent outside of the veins.
Recent drilling supports the continuity of mineralization extending beyond the southern extent of the current block model for an additional 400m of strike. The drilling also demonstrates that the deposit contains exceptional rich gold and copper zones. The coarseness of the gold is reflected in the 2006 Bankable Feasibility study that indicated 55% of the gold would be captured by gravity.
All assays were completed by Genalysis Laboratory Services in Perth. Samples were dried, crushed and pulverized with 85% of the sample achieving minus 75 microns. Gold analysis was completed by 50 gram fire assay with a detection limit of 0.01 ppm. Copper and silver were analyzed by AAS using an acid digest with detection limits of 1 ppm.
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 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.
Brent Butler, CEO & President commented, “This drilling upgrades the confidence level of the continuity of mineralization to the south and demonstrates the deposit has some extremely rich zones of gold and copper. Focus will be on infilling the 400m strike extension defined from Phase 1 drilling.”
The contents of this news release have been reviewed by Brent Butler who is a qualified person as defined by National Instrument 43-101.
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.” |
