TORONTO--(BUSINESS WIRE)--Atlanta Gold Inc. (the "Company") (TSXV: ATG; OTC Pink: ATLDF) announces that the Idaho Department of Lands has approved the reclamation plan submitted in respect of proposed operations at the Neal Property and has granted a mine permit. The reclamation and operating permit is subject to certain conditions agreed upon with the Idaho State Lands Department and becomes active upon agreeing to the conditions and establishment of a reclamation bond. The surface mining permit will enable the estimated 12,900 ton stockpile collected from bulk samples completed in 2015 and 2016 to be removed from the site for processing.
Operations at the Neal Property are being conducted by Neal Development LP, the partnership formed by the Company to finance exploration activities at Neal. Mineral Point LLC, the Company’s indirect wholly-owned subsidiary, is the general partner of the partnership. Results obtained from the processing of the bulk sample are expected to enable the further refinement of the processes and equipment to be used at Neal and ultimately at the Company’s Atlanta Project.
The Company is assessing the means of funding and processing options in order for processing to commence.
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation (“AGC”), leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometres) located 90 air kilometers east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects. The Company is focused on advancing its core asset, Atlanta, towards mine development and production.
The Company is also focused on advancing its exploration and processing methods on the Neal Property, which is located approximately 15 miles from Boise, Idaho and comprises approximately 192 acres (0.78 square kilometres). The Neal Property’s geology is similar to that of the Atlanta Project and it provides the Company with all-season access to further refine the processing equipment and procedures. AGC holds a five-year lease on the Neal Property and has staked an additional seven contiguous claims on public land that was open to mineral entry.
This news release contains forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities laws with respect to the funding of the reclamation bond and the commencement of processing of the bulk sample. Such forward-looking statements are based upon various assumptions and other factors that management believes to be reasonable, including that the Company will satisfy the conditions of the permit, including funding of the reclamation bond and enter into arrangements for the transport and processing of the bulk sample in a timely manner. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied by the forward-looking statements. Risks and uncertainties that may cause actual results to vary include the ability of the Company and the partnership to obtain sufficient funding necessary for the environmental bond and the commencement of operations; as well as other risks and uncertainties which are more fully described in the Company’s annual and interim management’s discussion and analysis and other filings by the Company with the securities regulatory authorities, which are available under the Company’s profile at www.sedar.com. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied by the forward-looking statements and accordingly, readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained herein are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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