ATW Gold Corp.
TSX VENTURE : ATW

ATW Gold Corp.

December 02, 2010 08:45 ET

ATW Gold Corp.: Deflector Returns 16 Metres Grading 15.3 g/t Gold and 6% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - ATW Gold Corp. (TSX VENTURE:ATW) ("ATW" or the "Company") is pleased to report that Mutiny Gold Ltd. (MYG: ASX) ("Mutiny") has announced additional results from drilling at the Deflector Gold-Copper Deposit, on the Gullewa Property in Western Australia.

The program of 41 holes totalling 3,461 metres of reverse circulation ("RC") drilling was completed to convert part of the existing Indicated Resource to higher category Measured Resource.

Significant high-grade gold-copper intersections from the drill program include:

  • 7m @ 19.2g/t Au and 9.4% Cu;
  • 6m @ 17.4g/t Au and 4.8% Cu;
  • 3m @ 32.8g/t Au and 13.4% Cu; and
  • 3m @ 27.0g/t Au and 0.33% Cu.

Mutiny plans to carry out further drilling along the strike of Deflector in early 2011 to test mineralized extensions and high-grade drill intersections identified in earlier drilling.

Mutiny has received results for all 41 drill holes. The results are presented in Table 1 presented below. Drill-hole locations are listed in Table 2. Results received from this recent drilling are highly encouraging. Within the area of the preliminary planned pit, seven of sixteen holes drilled into the main lode, the West Lode, returned assays of significantly higher grade than was expected from the previous intersections in adjacent holes, with only four of the other holes returning significantly lower assays than expected. 

Holes 10DRC25 and 26, drilled into the Central Lode also returned significantly stronger intersections than anticipated. The other holes drilled into the Central Lode returned, overall, similar results to previous drilling.

The results are listed in Table 1 for all intersections greater than 0.5g/t Au. They include:

  • 2m @ 11.9g/t Au and 0.98% Cu in 10DRC01;
  • 3m @ 19.9g/t Au and 2.0% Cu in 10DRC02;
  • 16m @ 15.3g/t Au and 6.0% Cu in 10DRC05;
  • 10m @ 5.4g/t Au and 1.9% Cu in 10DRC06;
  • 4m @ 24.9g/t Au and 10.1% Cu in 10DRC08;
  • 3m @ 12.5g/t Au and 3.1% Cu in 10DRC09;
  • 2m @ 27.2g/t Au and 0.42% Cu in 10DRC21;
  • 10m @ 10.3g/t Au and 0.37% Cu in 10DRC 25; and
  • 6m @ 16.0g/t Au and 2.2% Cu in 10DRC36.
Table 1 Drill-hole Assay Results
HOLE FROM
(m)
TO
(m)
INTERVAL
(m)
Au
(g/t)
Cu
(%)
  INCLUDING
10DRC01 90 93 3 2.37 0.01    
10DRC01 114 116 2 11.9 0.98    
10DRC02 93 96 3 19.9 2.0    
10DRC03 113 115 2 1.67 0.21    
10DRC04 96 101 5 2.44 0.86    
10DRC05 68 84* 16 15.3 6.0   68-75m: 7m @ 19.2g/t Au 9.4% Cu & 78-84m: 6m @ 17.4g/t Au 4.8% Cu
10DRC06 98 104 6 4.44 0.91   102-103m: 1m @ 19.8g/t Au 3.7% Cu
  and 122 132* 10 5.38 1.9   128-132m: 4m @ 10.9g/t Au 3.8% Cu
10DRC07 76 78 2 2.46 2.2    
  and 100 104 4 1.42 0.22    
10DRC08 86 90 4 24.9 10.1   86-90m: 3m @ 32.8g/t Au 13.4% Cu
10DRC09 103 106 3 12.5 3.1   104-105m: 1m @ 35.8g/t Au 8.5% Cu
10DRC11 108 112 4 1.03 0.01    
10DRC12 96 98 2 1.09 1.2    
10DRC13 76 80 4 0.56 0.65    
10DRC14 96 100 4 4.31 2.2    
10DRC15 52 57 5 12.2 5.5    
10DRC18 65 70 5 3.97 2.0    
10DRC19 21 23 2 1.67 0.34    
10DRC20 43 48 5 2.28 0.29    
10DRC21 28 32 4 0.86 0.32    
  and 35 38 3 0.61 0.30    
  and 51 60 9 6.92 0.40   52-54m: 2m @ 27.2g/t Au 0.42% Cu
10DRC23 12 16 4 1.20 0.38    
10DRC24 23 30 7 0.76 0.37    
10DRC25 15 25 10 10.3 0.37   20-23m: 3m @ 27.0g/t Au 0.33% Cu
10DRC26 31 34 3 0.45 0.42    
  and 56 60 4 9.00 0.45    
10DRC28 15 17 2 2.15 0.04    
  and 99 100* 1 5.85 10.5    
10DRC29 32 34 2 2.12 0.14    
  and 97 100 3 1.50 0.02    
10DRC30 75 78 3 4.36 0.49    
10DRC31 37 39 2 3.42 0.09    
10DRC32A 20 22 2 1.55 0.18    
10DRC36 39 43 4 0.59 0.32    
10DRC36 90 92 2 0.96 0.55    
  and 100 106 6 16.0 2.2   103-105m: 2m @ 37.2g/t Au 4.6% Cu
10DRC37 68 72 4 1.23 1.3    
  and 92 94 2 1.93 0.72    
10DRC38 41 45 4 1.40 0.89    
* Holes 10DRC05, 06, and 36 ended in mineralization
 
Table 2 Drill-hole Details
HOLE EAST
(LOCAL)
NORTH
(LOCAL)
EAST
(GDA94)
NORTH
(GDA94)
RL
(m)
DEPTH
(m)
DIP
(
°)
AZIMUTH
(LOCAL)
1
10DRC01 9750 19480 439378 6828745 279 123 -60 95
10DRC02 9758 19460 439374 6828722 279 105 -60 93
10DRC03 9753 19440 439359 6828708 279 126 -57 92
10DRC04 9759 19380 439323 6828661 279 126 -56 90
10DRC05 9760 19340 439298 6828628 279 84 -57 91
10DRC06 9744 19360 439300 6828644 279 132 -57 90
10DRC07 9750 19260 439243 6828570 279 120 -57 86
10DRC08 9742 19242 439225 6828560 279 120 -57 92
10DRC09 9730 19220 439203 6828551 279 114 -57 90
10DRC10 9746 19200 439204 6828526 279 90 -58 90
10DRC11 9713 19200 439177 6828546 279 132 -57 90
10DRC12 9730 19180 439177 6828519 279 108 -57 90
10DRC13 9740 19160 439172 6828499 279 90 -58 90
10DRC14 9725 19140 439149 6828489 279 108 -57 90
10DRC15 9744 19060 439117 6828416 279 84 -58 90
10DRC16 9734 19060 439109 6828425 279 102 -58 90
10DRC17 9738 19018 439081 6828385 279 78 -58 90
10DRC18 9844 19020 439168 6828325 279 72 -58 270
10DRC19 9816 19040 439158 6828356 279 24 -60 270
10DRC20 9831 19040 439170 6828347 279 48 -60 270
10DRC21 9846 19060 439197 6828356 279 63 -59 270
10DRC22 9866 19080 439225 6828359 279 42 -60 270
10DRC23 9852 19120 439238 6828397 279 39 -60 270
10DRC24 9862 19120 439245 6828391 279 60 -59 270
10DRC25 9866 19140 439261 6828406 279 60 -60 270
10DRC26 9878 19140 439270 6828399 279 84 -60 270
10DRC27 9925 19285 439397 6828463 279 46 -59 268
10DRC28 9939 19300 439412 6828499 279 100 -66 266
10DRC29 9931.5 19327.5 439432 6828498 279 115 -59 271.5
10DRC30 9923.5 19340 439429 6828534 279 84 -58 270
10DRC31 9950 19340 439459 6828510 279 48 -59 270
10DRC32 9920 19380 439451 6828558 279 30 -59 270
10DRC32A 9920 19390 439454 6828569 279 72 -59 262
10DRC33 9970 19460 439540 6828593 279 24 -59 270
10DRC34 9773.5 19500 439410 6828745 279 84 -59 90
10DRC35 9763 19500 439403 6828750 279 102 -59 90
10DRC36 9738 19310 439262 6828615 279 132 -58 85
10DRC37 9830.5 18940 439110 6828270 279 108 -59 270
10DRC38 9799 18900 439060 6828258 279 60 -59 270
10DRC39 9783.5 19500 439418 6828738 279 66 -59 90
10DRC40 9793.3 19500 439426 6828732 279 48 -59 90
1: Local azimuth is 38o less than UTM azimuth

All samples were submitted for preparation and analysis to SGS Australia Pty Ltd at its facilities in Newburn, Western Australia.

Table 3 Deflector Deposit – Mineral Resources
Category Tonnes Au
(g/t)
Au
(oz)
Cu
(%)
Cu
(t)
Ag
(g/t)
Ag
(oz)
Measured 535,000 3.9 67,000 1.18 6,300 8.0 140,000
Indicated 1,200,000 4.3 160,000 0.96 11,000 6.3 240,000
Measured + Indicated 1,700,000 4.2 230,000 1.03 17,000 6.9 380,000
Inferred 1,600,000 6.5 330,000 0.5 8,000 3.0 200,000

As announced in the Company's news release dated July 20, 2010, ATW entered into an agreement with Mutiny, whereby Mutiny can earn a 70% interest in the Gullewa Gold Project in Western Australia, by making exploration expenditures and paying to ATW Gold Corp Australia Pty Ltd, a total of AUD$9,000,000.

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 an 800 tonne per day CIL plant, a licensed tailings disposal facility, a 50-person camp, offices, and workshops.

This news release has been reviewed by Brent Butler, a Qualified Person as that term is defined in NI 43-101.

ATW GOLD CORP.

Brent Butler, President & CEO

"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."

"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."

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