Atacama Resources Announces Results of Magnetic and VLF-EM Surveys on Atacama 3 Property
PLANTATION, Fla., Nov. 27, 2019 (GLOBE NEWSWIRE) -- Atacama Resources International, Inc. (OTC: ACRL) (“Atacama”), a publicly traded exploration company with over 3000 acres of mineral claims in Northeastern Ontario, including potential gold, silver, copper, cobalt and graphite deposits is pleased to announce the completion of a comprehensive geophysical report outlining the results of recent magnetic and VLF-EM surveys on the Atacama 3 property. The surveys were supervised by and the report authored by John Grant (CET,FGAC) of Exsics Exploration Limited.
A total field magnetic survey was completed in conjunction with a VLF-EM survey over a 25 kilometer grid on the Atacama 3 property which is located 3 kilometers south of Kirkland Lake Gold’s Macassa mine expansion in the Townships of Otto and Teck of the Larder Lake Mining Division in northeastern Ontario. The surveys captured the Otto Stock in the northeast section of the grid area while OGS chip sampling of 12 malachite stained lamprophyre returned anomalous values for gold, platinum and palladium.
The VLF-EM survey outlined three conductors cross cutting the stock in the northeast section of the grid and of particular interest are the two secondary cross structures striking northeast across the entire grid and continuing off of the grid to the northeast. The main Kirkland Lake Break and Larder Lake Break lie to the immediate north of the Atacama 3 property which may add more significance to these structures should they prove to intersect either main break. The strike of this cross structure, if traceable further to the north-northeast, may put it in close proximity to developments happening north of Atacama 3’s north boundary which is held by Kirkland Lake Gold. These types of splay faults could be conduits for gold mobilization from major faults.
The initial magnetic and VLF-EM surveys outlined the expected geological environment of the grid area. The Otto Stock is well defined along with the major fault structure referred to as the Amikougami Fault. Of particular interest are the two parallel secondary fault structures that strike northeast to southwest across the survey area. These cross structures could emanate from the main Amikougami Fault and appear to control the majority of the VLF conductors as well as defining some of the offsets in the magnetic highs.
“We are very pleased with the results of our magnetic and VLF-EM surveys. Although our ground work was interrupted by an early snow fall in the Kirkland Lake area, our team was able to sample many of the mineralized outcrops and old workings on the property. We are anxiously awaiting these results, and combined with our ongoing IP survey, we are continuing to gain further information while identifying potential drill targets,” said Wayne Holmstead, B.Sc.,P.Geo. (Vice-President of Exploration, Atacama Resources).
About Atacama Resources International ( www.acrlintl.com )
Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, copper, graphite and cobalt.
Forward Looking StatementsCertain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company’s actual results to differ materially from those contained in these forward-looking statements can be found in the Company’s periodic reports as filed on the OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
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