ATW Venture Corp (ATW: TSX-V)
(Frankfurt: A3N), ("ATW" or "the Company"), is pleased to report that drilling on
the Amarillo project in San Juan Province, Argentina is ongoing. To
date, a total of 1100 meters have been drilled. Two core holes have
been completed and a third one is in progress. Assays are pending for
all drill holes; selected samples for Hole ATW-AM-06 have been sent for rush
assay.
A 2008 Amarillo Exploration Program,
drill hole location map is available on the ATW Venture Corp. website at www.atwventure.com/properties/amarillo.
This year's first drill hole, ATW-AM-05
("F" on drill hole map), was collared at the bottom of Quebrada
Poposa. This was a vertical hole drilled to roughly 400 meters.
It was designed to test for potential primary copper mineralization at depth.
The hole drilled through a thick sequence of weakly altered to fresh dacitic
tuffs and pyroclastics rocks. At the bottom of the hole fragments of
altered quartzite are observed in the clastic unit. This hole appears
to be collared in a down-dropped block of young, post mineral volcanics and
did not intersect mineralized lithologies.
ATW-AM-06 ("SM-2" on drill hole map) was drilled on the northern
portion of the alteration halo to test for gold mineralization down-plunge
along the intersection of northwest and north-northeast trending
structures. The hole had a bearing of S80oW and was drilled at
-60o. The hole encountered vuggy quartz/pyrite veining in various
places in the top part of the hole. These veins are similar to those observed
on surface in the road cuts and which are reported to have high gold grades
locally. Further down hole there is a marked increase in silicification
of dacitic/andesitic dikes and of the surrounding quartzite with disseminated
pyrite from 3-5 % and locally up to 10%. Silicification appears to be
overprinting earlier alteration events possibly argillization and
bleaching. In addition, there is also a quartz/pyrite � sericite
stockwork event which in general increases with depth. Quartz pyrite
veins up to 2 inches (5 cm) are observed locally. In sections, the
stockwork is very robust and sulfide content (py) in short sections of the
core can be >30%. In general, very little copper mineralization is
observed, with only occasional minor cpy noted in veinlets. This hole
was drilled to a depth of 525 meters. Selected samples down-hole have been
rushed for assays.
The current hole, ATW-AM-07
("H" on drill hole map) is collared on Esperanza Hill. It is
being drilled due south at -60o. This hole was designed to test at depth,
outcropping copper mineralization further up hill. The top 100 meters
contain sporadic copper mineralization in various lithologies. The hole
is roughly at 190 meters.
Mapping and sampling has been ongoing on
the northeast portion of the system ("Sericite Target").
There, quartzites are host to a sericitically altered quartz porphyry
dike. Quartzites near the dike exhibit quartz stockwork veining and
moderate hematite staining. Assays from this area are pending.
Mapping and sampling will also be
undertaken at the Filo Colorado Target to gain further understanding of the
controls to gold mineralization there.
A fourth hole is contemplated pending
results from hole ATW-AM-06 ("SM-2") and surface samples from the
two areas mentioned above.
The contents of this news release have
been reviewed by Brent Butler who is a qualified person as defined by
National Instrument 43-101.
"ATW is excited to have completed
drill testing of high priority targets, originally scheduled for 2007.
Management is encouraged by onsite visual inspections of drill
core and have shipped selected samples for rush assays." says Brent
Butler, President and CEO of ATW Venture Corp.
The Company also wishes to announce that
it has granted a total of 100,000 incentive stock options, exercisable for a
period of five (5) years at an exercise price of $0.95 per share. The
grants have been made to certain directors, officers, employees and
consultants of the Company.
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."