CEO RAMBLINGS - FEBRUARY 24, 2019
I have just had a very interesting and exciting weekend. Atacama's research team provided me with a copy of "Ontario's Geological Survey - Mineral Deposits Circular 18" titled "Gold Deposits of Ontario". It was researched and authored by geologists R.F Davie, J.D. Grijs, H.L.Lovell and J.R. Gordon and published by the Ontario's Ministry of Mines and Northern Development in 1979.
The very detailed Report substantiates and verifies what Atacama has been saying about it's Atacama 1 Gold Project for some time. High gold values are definitely there. From the drilling program carried out, gold values of 2.5% ounces per ton are presented along with 2.5% copper(which also is very high value), 32 ounces of silver per ton, 3% nickel and 3.5% VANADIUM over 25 feet from diamond drill hole #1. As well, the report points out that surface grab samples revealed exceptionally high values of copper varying between 5.32% to as high as 13.30 %. These are extremely high valuations. The Report then goes on to mention that a total seven diamond drilled holes were carried out. A mine shaft and drift tunnels were completed. Surface geology work was done. Macassa Mines carried out four more diamond drill holes and excessive trenching was also completed.
What I found equally fascinating in the Report were the reports the authors present on a number of mines around the Atacama gold properties that had produced gold over the years and just what gold values they averaged. Lucky Cross Mine and the Swastika Mine, just to the east of Atacama together milled 103,684 tons of ore with AVERAGE grades values of 0.31 oz./ton and 0.21 oz./ton respectively. Lake Shore Mines averaged a gold value of 0.51 oz./ton. The Tegren Mine averaged 0.78 oz. /ton. The Beaver Consolidated Mine averaged 0.37 oz./ton and the Kirkland Lake Rand Mines found values in the 0.22 oz./ton range.
What all this means is that all of these old historic mines located all around our Atacama gold properties mined and milled gold ore with values that all would justify an operating gold mine, especially with the high price of gold today . I have not even mentioned the fact that with copper, silver, nickel and vanadium also found in Atacama's ground that if the ground is mined that all these other minerals may possibly pay for the cost of the mining and the gold extracted could be mined COST FREE. However, let me be clear. What is still needed is further work including significant diamond drilling to prove out the quality and size or our gold deposits. You can see how reading this Report made for exciting weekend reading. I am Glenn Grant, CEO of www.acrlintl.com