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:
- Alliance/New Alliance sulphide targets
- 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:
-
Targeting downdip extensions of 8NOAC002 and 8NOAC004 drill intercepts to increase the current ounce inventory at NOA2;
-
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 |
-
Targeting the downdip extensions of Q1 drill results.
-
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." |