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Atacama Resources Acquires Kirkland Lake Gold Project
Atacama Resources Acquires Kirkland Lake Gold Project.
About this update from Atacama Resources International, Inc.
[{"type":"text","content":"\n -Historic diamond drill, gold intersections up to 7.02 g/t over 3.7 metres-Two parallel gold zones, visible gold in core-Excellent infrastructure and close to Kirkland Lake gold mining area PLANTATION, Fla., Jan. 16, 2020 (GLOBE NEWSWIRE) -- Atacama Resources International, Inc. (OTC: ACRL) (“Atacama”) is pleased to announce the acquisition of the Tannahill Gold Property located 35 kilometers northeast of the prolific Kirkland Lake Gold Camp in northeastern Ontario. The multi-year deal will provide Atacama with a 100% interest in the property subject to a 2% Net Smelter Return with a buyback option. Past work on the Tannahill Gold Property (1998) has identified two parallel, gold bearing structures. The gold bearing structures (Lower Zone and Upper Zone), consist of pervasive quartz-carbonate-albite alteration with disseminated pyrite and variable quartz veining. The zones strike in a northeast/southwest direction and dip to the north at 60 degrees. Of the 28 diamond drill holes drilled into the gold bearing zones, 27 intersected significant gold values. The Lower Zone has returned the higher gold grades to date, including visible gold in four holes, and seems to hold the greatest exploration potential. The Lower Zone shows continuity along strike and consistency in grade. It has been successfully intersected along 300 metres of strike length at the 25 and 50 metre levels, and remains open in both directions. Grades and widths above the 50 metre level are generally 0.35 to 3.25 g/t over widths ranging between 0.60 to 3.0 metres. At depth the zone widens significantly and gold grades increase dramatically (see Figure l and Figure 2). Three holes below the 75 metre level along 100 metres of strike length have excellent widths with higher gold grades: 5.16 g/t over 5.0 metres in T-96-9, 4.80 g/t over 5.00 metres in T-96-11, and 7.02 g/t over 3.7 metres in T-96-15. Crews are presently on site to locate the old cut lines and drill hole casings. All of the core from the 1998 drill program is available for evaluation and further analysis. Future work will include geophysical surveys, prospecting, geological mapping and eventual diamond drilling to expand the existing gold zones. As stated by Colin Keith, President and CEO of Atacama, “We are very excited to start exploration on the Tannahill Gold Property. The rece...