Nov 10 2017
Atacama Resources International, a public company trading on the OTC exchange, has released the results of the magnetometer survey for the Atacama 1 and 2 properties which includes portions of four mining claims and five mining leases located in the Eby and Otto Townships within the Larder Lake Mining Division.
The survey was conducted with state of the art magnetometers and over 21,000 magnetometer samples were taken. The results of the survey indicate multiple areas where further prospecting for the presence of gold is recommended. The magnetic signature indicates the presence of at least four magnetic units or 'hot spots' that indicate magnetically elevated areas. These most likely represent intrusive bodies that may produce favorable alteration. One hot spot appears as a moderately stronger magnetic signature indicating that the intense signature may be related to a possible shallow south dipping magnetic unit. The most interesting hot spot appears as a north-south offset intersecting a magnetically elevated linear feature indicating that an alteration has occurred resulting in the destruction of magnetite. The report recommends that the company focus on this area.
The final processing and validation of the survey results were made by Jason Ploeger, a professional geophysicist and a practicing member of the Association of Professional Geoscientists.
It should be emphasized that the Atacama 2 property is located less than four miles southwest of the Kirkland Lake Gold, Inc. southern mine. Kirkland Lake Gold reported Q3 2017 total gold production of 139,091 ounces which is 80% higher than Q3 2016. Kirkland Lake Gold's Micassa mine is considered one of the highest grade gold mines in the world.
Glenn Grant, CEO, reported, "Atacama Resources International is excited about the results of the survey. The magnetic signatures in at least four areas on our properties indicate geological conditions suitable for finding gold. The combination of appropriate geophysical results on the property and the proximity to the existing Micassa mine make it almost mandatory that Atacama Resources further develop the properties."
"The gold exploration activities in Kirkland Lake have taken on the appearance of a 'gold rush.' New drilling is taking place at near record levels and the Atacama 1, 2 and 3 properties are in the middle of all this activity," added Grant.