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ATW Gold Corp

Publié le 25 avril 2008

Burnakura Drill Results - April

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ATW Venture Corp.

Burnakura Drill Results - April

April 25, 2008

ATW Venture Corp (ATW: TSX-V) (Frankfurt: A3N), ("ATW" or "the Company"), is pleased to report further drill results from its recently completed 24 hole Reverse Circulation ("RC") drill program for 4,110m.  In the news release dated February 28, 2008, ATW announced drill results from four holes drilled immediately north of the NOA 2 underground workings.  ATW has now received all assays except for the last 2 holes drilled which are expected at the end of the month.

ATW's RC drill program focused on two areas:

  1. Alliance/New Alliance sulphide targets
     
  2. Step-out drilling (40m spacing's) targeting possible mineralized zones from the Level 5 decline out to NOA 7-8

ALLIANCE

The Alliance open cut 25m deep pit lies approximately 1km south of the gold processing plant.  Previous drilling at Alliance intersected high grade mineralization beneath the pit. Tabulated below are some of the significant intercepts.

Hole

North

East

Depth

Azimuth

Dip

From

To

Interval (m)

Au (g/t)

ARD009

7500

5475

80

0

-90

69

70

1

29.92

FC561

7500

5455

90

0

-90

57

58

1

33.60

FC562

7520

5420

75

0

-90

43

44

1

39.60

AD158

7530

5438

70

265

-60

48

49

1

12.87

ARC082

7685

5376

30

220

-60

24

25

1

24.98

ARC083

7675

5380

35

0

-90

28

29

1

22.15

AD105

7690

5423

70

260

-60

52

54

2

9.04

Two drill holes from Q1 RC drill program were drilled on section 7680N to extend the known mineralization at 50m vertical depth, downdip of drill hole AD105. The drill holes were successful in extending the mineralization to 80m vertical depth.  Results are tabulated below:

Hole

North

East

Depth

Azimuth

Dip

From

To

Interval (m)

Au (g/t)

8ALC001

7007842

645578

90

268

-60

59

60

1

9.18

8ALC002

7007841

645601

96

268

-60

72

73

2

12.37

ATW has engaged a contract Mining Engineer to undertake a preliminary underground mining study to assess the economics of mining these high grade shoots extending from the Alliance pit.  During Q2 ATW plans to pattern drill the high grade mineralization over a 200m strike length (confirmed by drill results above) to better delineate a possible resource as a high grade supplementary ore supply to NOA 2.

NEW ALLIANCE

The New Alliance open cut 80m deep pit lies immediately north of the Alliance pit. Previous drilling intersected high grade at the north end of the pit, as tabulated below:

Hole

North

East

Depth

Azimuth

Dip

From

To

Interval (m)

Au (g/t)

NARD141

8279

5748

95

309

-60

85.1

89.4

4.3

55.22

Access is somewhat challenging to due safety closure walls at the margin of the open cut and will require one day of earthworks with a dozer to fully access drill targets. The drill hole inclination was set at 550 to compensate for the poor access.  The drill hole may have steepened and hence drilled off target. Weak mineralization was intersected and is tabulated below.  ATW plans to complete the necessary earthworks in Q2 and drill several core holes.

Hole

North

East

Depth

Azimuth

Dip

From

To

Interval (m)

Au (g/t)

8NAC001

7008367

645932

170

312

-55

113

115

2

2.41

NOA LINE

On February 28, 2008 ATW announced results of the first four holes drilled at NOA2 as tabulated below:

Hole

North

East

Depth

Azimuth

Dip

From

To

Interval (m)

Au (g/t)

8NAC001

7010310

645610

150

268

-60

122

126

4

3.02

 

 

 

 

 

 

133

139

6

3.16

8NAC002

7010293

645621

156

268

-60

138

147

9

11.20

8NAC003

7010223

645632

124

267

-60

not reached target depth

 

8NAC004

7010333

645652

209

270

-60

152

155

3

11.96

The drill rig had difficulty drilling past 80m vertical past this depth.  The drilling rate averaged 80m per day, therefore slow penetration rates applied; hence, adding additional expenses to the program.  Discussions were held between the Planning Engineer and the Geologist to re-design the exploration program to be cost effective yet enhance the understanding of geological and   engineering planning.

The drill program was modified to a 40m spaced step-out plan to target undrilled areas outside the block models of NOA2 & NOA7-8. The program was successful in delineating several new mineralized zones that will be followed up by core drilling.

Hole

North

East

Depth

Azimuth

Dip

From

To

Interval (m)

Au (g/t)

8NOAC005

7010367

645640

219

270

-60

203

204

1

3.16

8NOAC007

7010383

645572

158

270

-60

103

104

1

3.50

8NOAC008

7010457

645636

197

270

-60

5

7

2

39.05

8NOAC016

7010843

645477

202

269

-60

120

121

1

6.28

8NOAC016

7010282

645733

249

270

-70

195

196

1

4.14

A core rig is expected to be mobilized on site in late May followed up by two additional drill rigs in late June.  Drilling will focus on:

  1. Targeting downdip extensions of 8NOAC002 and 8NOAC004 drill intercepts to increase the current ounce inventory at NOA2;
     
  2. Targeting downdip extension of Extract/Tectonic's 2006 drill program at NOA2 including the 100m step-out (RB06CBU019 - highlighted) in a previously undiscovered mineralized area. Their summarized results are tabulated below.
     

    Hole

    North

    East

    Depth

    Azimuth

    Dip

    From

    To

    Interval (m)

    Au (g/t)

    RC06BU002

    645913

    7010377

    228

    272

    -60

    212

    217

    5

    9.11

    RC06BU005

    645840

    7010380

    198

    273

    -70

    163

    170

    7

    17.30

    RC06BU015

    645912

    7010418

    246

    246

    -71

    221

    227

    6

    22.80

    RC06BU019

    645690

    7010499

    132

    132

    -90

    104

    108

    4

    5.99

     
  3. Targeting the downdip extensions of Q1 drill results.
     
  4. Drill to define resources at the high grade shoots at both Alliance & New Alliance.

Brent Butler, President and CEO of ATW Venture Corp, is responsible for the Burnakura exploration program.  The contents of this news release have been reviewed by Brent Butler who is a qualified person as defined by National Instrument 43-101.  All samples were submitted for preparation and analysis using fire assay with an AAS finish by Genalysis Laboratory Services Pty Ltd at its facilities in Perth, Western Australia.

An updated and amended NI 43-101 compliant Report on the Burnakura Project has been filed on SEDAR.  The Report, dated April 4, 2008, updates and amends the Report filed on January 16, 2008 to include work completed in January, 2008 and to expand the recommended work program on the Burnakura Project to approximately AUD$2,000,000.  The readers can review the updated report by going to www.sedar.com and searching the Company's filings.

"ATW is making significant and rapid progress toward re-establishing production at Burnakura. The results of this first stage of drilling are indicative of our ability to expand the resource.  It is particularly encouraging that we continue to hit high grades.  We have scheduled our next drilling program to commence in approximately 3 weeks." says Brent Butler, President and CEO of ATW Venture Corp.

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."

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ATW Gold Corp

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CODE : ATW.V
CUSIP : 049875
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ATW Gold est une société de production minière d'or basée au Canada.

ATW Gold détient divers projets d'exploration en Australie.

Son principal projet en développement est BURNAKURA MINE en Australie et ses principaux projets en exploration sont COBRA GOLD, GULLEWA, GUNBARREL PROJECT et GAYSCONE en Australie et AMARILLO en Argentine.

ATW Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 634 800 CA$ (507 556 US$, 468 352 €).

La valeur de son action a atteint son plus haut niveau récent le 26 mars 2010 à 3,00 CA$, et son plus bas niveau récent le 14 février 2020 à 0,01 CA$.

ATW Gold possède 63 480 000 actions en circulation.

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