Atlanta Gold Adds to Its Indonesian Holdings with a Key Acquisition.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 29, 1996-- Atlanta Gold Corporation has entered into an agreement to acquire an 80% interest in the 10,790 Ha. Tanjung Sakti property in South Sumatra South Sumatra or Sumatera Selatan is a province of Indonesia. It is on the island of Sumatra, and borders the provinces of Lampung to the south, Bengkulu to the west, and Jambi to the north. , Indonesia. The remaining 20% interest is held by Indotan Inc. of Bermuda and PT Puripermata Megah of Indonesia. Based on previous geological investigation by a major mining company, it is believed that the strongest anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. on the South Sumatra - West Java West Java (Indonesian: :Jawa Barat) is a province of Indonesia, located on the island of Java. The capital is Bandung. History gold belt is on this property. This region hosts other gold deposits such as Lebong Donok, Lebong Tandal, (2 million oz. gold) and Gunung Pongkor gold mine which contains reserves exceeding 3 million oz gold, (at a grade of 17.1 g/t gold). Previous work has identified a number of promising targets within the Tanjung Sakti concession. Preliminary geological mapping and outcrop sampling has returned samples up to 52.0 g/t gold. Structurally controlled epithermal gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , occurring as quartz veins and stockwork veins within alteration zones have been recognized. Gold mineralization is also associated with broad zones of alteration with intrusive bodies. A number of the vein systems are being actively worked on by local miners. The target for this concession is a large tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, directs that to ascertain the tonnage of any ship or vessel, the surveyor, &c. open pittable resource associated with altered intrusive bodies within the concession. Field work is being immediately planned with the objective to advance a number of targets to drill status by the first quarter of 1997. Voisey Bay Resources will participate equally with Atlanta Gold Corporation with reference to the Tanjung Sakti property. ATLANTA GOLD CORPORATION Karl Rollke President -0- Note to editors: The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved or the contents of this press release. CONTACT: Atlanta Gold Corporation Tel: (604) 669-0016 Fax: (604) 687-6755 www.atlanta-gold.com |
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