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Ateba Assets Commences Drilling with the Walsh Mine Area, Larder Group Home
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Created: 17th Oct 2012
Modified: 17th Oct 2012

 

 

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2012) - Ateba Resources Inc. ("Ateba" or even the "Company") (CNSX:ATR) is pleased to announce that it started drilling yesterday around the Walsh Mine Place of its Larder Group Property close to Kirkland Lake, Ontario. The drilling will consist of no less than 1,500 m of diamond drilling with as much as an more 1,000 m of drilling to comply with up on original assay outcomes. The aim on the latest drilling plan would be to observe known mineralization at Sand washing machine sale depth, beneath previously drilled portions of the Walsh Mine and beneath historic workings. In addition, extensions of the Walsh Mine mineralization that had been intersected to the northwest of your Walsh Mine throughout the Spring, 2012 drill system will be targeted at depth. The programme will likely be finished in advance of the finish of 2012.

One of the most current round of drilling (benefits previously released June 26, 2012) within the Walsh Mine Place effectively intersected 16 m @ 0.47 g/t Au which includes 2 m @ 1.40 g/t Au in hole AR-12-51. A separate intersection of three m @ 2.68 g/t Au from 31 to 34 m including 1 m @ five.24 g/t Au was encountered in hole AR-12-50 which also integrated two other intersections of substantial gold grades. These results verify the presence of multiple, sub-parallel, mineralized quartz veins as recognized in earlier drilling.

The current knowing of gold mineralization with the Walsh Mine is usually that it can be broadly distributed with isolated veins and veinlet swarms of higher grade straight adjacent to and beneath the historic Walsh Mine workings. For the northwest, the mineralized zones develop into a lot more discrete but lack the broader, interstitial mineralization which is normal closer towards the historic mine workings. To your southeast, the mineralization continues right up until it is actually offset by the east-west trending Kinabik Creek Fault. It continues across the fault which offsets it inside a right-lateral manner. Finally the trend manifests itself as being a broad zone of alteration with anomalous but sub-economic mineralization during the significantly less favourable volcanic host rocks adjacent to your favourable syenitic host rocks of your Walsh Mine Region. The standard interpretation from the mineralized grinding mill manufacturers process is the fact of a mineralized shoot taking place inside a northwest trending structural zone exactly where it crosses favorable syenitic host rock. The Spring, 2012 drilling programme on the property assisted to define the areal extents with the mineralization. The present drilling programme is made to construct upon the accomplishment that Ateba has had with defining the extents of mineralization by following it to depth in which it remains open. Benefits in the drilling shall be made out there as they are acquired from the laboratory.

"We are keen to obtain the results of this round of exploration drilling to the venture and test our theory that the Walsh Mine mineralization extends at depth, as would be the case with other deposits while in the area which include the adjoining Queenston Mining Upper Beaver venture. The Upper Beaver shaft is found about 10 km from our historic Walsh Mine shaft and its associated "ore" and waste dumps," mentioned Bill Dickie, President and CEO of Ateba.

Ateba Assets Inc. is really a mineral exploration business that's centered on exploring for gold along the Larder - Cadillac Break. The Company's flagship project encompasses the extremely prospective Walsh Katrine, Copper King and Kinabik gold properties which can be contiguous to Queenston's Upper Beaver Property. The undertaking extends 15 km toward the Quebec border and is accessible yr round by road. Additionally, the Firm also has a uranium residence in Elliot Lake on which there's a historic uranium source of 12 million pounds of U3O8. The house is contiguous for the Pele Mountain Eco Ridge home where considerable assays for complete unusual earth oxides (TREO's) are already reported.

Note Pertaining to Forward-Looking Statements

This press release and other developed or oral communication from Ateba Assets Inc. (the "Company") could involve specified statements which may

be viewed as "forward-looking statements" within the which means of that phrase under Canadian securities laws. Statements aside from historical information that deal with doable potential Coal mining equipment manufacturers activities, ideas or developments are forward-looking statements. Such statements may perhaps be identified through the usage of words such as "will", ""may", "expects", "estimate", "intend" or even the usage of the potential or conditional tense. Specified substance

aspects or assumptions have been utilized in drawing our conclusions and making people forward-looking statements. Forward-looking statements reflect management's present views with respect to attainable long term occasions and problems and, by their nature, are based upon management's beliefs and assumptions and topic to acknowledged and unknown pitfalls and uncertainties, each common and unique to the Corporation. Even though the Corporation believes the expectations expressed in such forward-looking statements are affordable, this kind of statements will not be ensures of potential overall performance and actual outcomes or developments may well differ materially from those in our forward-looking statements. Readers are cautioned that hazards may alter or new challenges may possibly emerge. Added data concerning the materials aspects and assumptions that have been applied in producing these forward hunting statements as well as the a variety of pitfalls and uncertainties we encounter are described in better detail in the "Risk Factors" section of our yearly and interim Management's Discussion and Evaluation of our economic results and also other continuous disclosure paperwork and monetary statements we file with the Canadian securities regulatory authorities that happen to be out there at  The Corporation undertakes no obligation to update this forward-looking details except as needed by applicable law.

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