ATW Venture Corp, ATW: TSX-V, (“ATW” or the “Company”), is pleased to release the latest drill results from its wholly owned Burnakura Gold Mine (“Burnakura”) located in Western Australia.
ATW has completed sixteen core holes totalling 2778 metres. Drill holes NOAD001 to NOAD008 are located 125 metres north of the level 2 development in the NOA2 underground mine, and have intersected a new ore zone within access of the current underground mine development. These intercepts are the widest to date within the NOA2 mineralization and have a grade 60% higher than the average grade of the deposit. The new zone is less than 100m below surface.
Assay results for the 7 drill holes are listed below:
|
Hole |
Depth from (m) |
Width (m) |
Au (g/t) |
|
NOAD001 |
106.90 |
15.60 |
13.37 |
|
NOAD002 |
122.65 |
4.33 |
5.92 |
|
and |
135.90 |
2.93 |
3.22 |
|
NOAD003 |
143.50 |
3.00 |
12.78 |
|
NOAD004 |
111.80 |
3.50 |
4.37 |
|
NOAD005 |
131.50 |
7.50 |
10.93 |
|
NOAD006 |
122.40 |
6.20 |
2.60 |
|
NOAD007 |
Results Pending |
|
NOAD008 |
131.00 |
4.50 |
9.09 |
|
and |
180.00 |
5.50 |
2.41 |
The new mineralized zone is contained in a dolerite hosted quartz vein stock work. The dolerite has an apparent dip of 45 degrees east and an apparent thickness of 6-20 metres. The gold mineralization appears to be confined within the dolerite and has an apparent dip of 30 degrees east and is open in all directions.
All samples were submitted for preparation and analysis using fire assay with an AAS finish to Genalysis Laboratory Services Pty Ltd at its facilities in Perth, Western Australia.
ATW believes these drill holes will have potential to significantly impact the current mining plan at Burnakura. Mining Plus Pty. Ltd. has been contracted to update the current mining plan to include the new gold mineralized zone.
Refurbishment of the plant is within budget and remains on track to be completed this year. Three mining contractors have been selected to tender the underground mining operations and have just returned from their tour of Burnakura. A project update will be released to investors within the next few weeks.
Brent Butler, CEO & President commented, “These are very encouraging drill intercepts that have the potential to significantly change the economics of the project. With gold trading above $1050 AUD per ounce, Burnakura will significantly contribute to the increase of shareholder value.”
The contents of this news release have been reviewed by Brent Butler who is a qualified person as defined by National Instrument 43-101.
The Company has also granted 815,000 stock options to certain directors, officers and consultants of the Company. The options are exercisable for a term of five years at an exercise price of $0.38.
To find out more about ATW Venture Corp., please contact Luke Norman at 604-662-8184 or email investor@atwventure.com. You may also visit our website at www.atwventure.com.
ATW VENTURE CORP.
“Brent Butler”
Brent Butler
President & CEO
“The TSX Venture Exchange does not accept 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.”
