Atocha Acquires Gold Property in the La Ronge Area, Saskatchewan
June 7, 2012 ‐ Vancouver, British Columbia, CANADA – Atocha Resources (the Company), TSX.V – ATT reports it has optioned the Stubble gold property, located in northern Saskatchewan, 5km to the east of the boundary of the Preview gold deposit property of La Ronge Gold Corp. (TSX.V – LAR).
The Property is one claim of 1,764 hectares located approximately 40km northeast of La Ronge and is easily accessible by highway. It lies in the La Ronge Gold Belt, which hosts operating mines owned by Claude Resources and Golden Band Resources. Past producing mines in the same area include the well known Anglo Rouyn (gold, silver, copper) and Contact Lake gold mines.
The property includes both the Studer B and C showings which are hosted in Glennie Domain metavolcanics consisting of mafic to intermediate flows and pyroclastics and a series of volcaniclastic metasediments that range in composition from greywackes to turbidites. Structurally the area hosts two sets of regional lineaments that trend north to northwest and east to northeast. The Studer B showing consists of a sulphide‐bearing interval of garnetiferous chlorite‐amphibolite schist, an altered iron formation, which occurs along a contact between a granitic intrusive to the north and mixed metasediments to the south. A historic grab sample from the showing returned 0.087 oz/ton Au.
The Studer C showing is hosted by a sulphide‐bearing graphitic argillite horizon in a suite of mixed metasediments. A Saskatchewan open file report (84‐1) stated “the C Zone, unlike the iron formation hosted Studer A and B zones, consists of mineralized irregular quartz veins and stockworks in highly deformed felsic volcaniclastics. The average assay value from two grab samples was 0.178 oz/ton Au.”
Atocha can earn a 100‐per‐cent interest in the Stubble property, with no retained NSR or work commitments, by making cash and share payments as follows: 1) $15,000 upon signing of the agreement (paid); 2) 1,500,000 common shares upon receipt of the TSX Venture Exchange ("TSX‐V") acceptance of the agreement.
On March 1st, 2012, La Ronge Gold Corp. (TSX.V‐LAR) announced via www.sedar.com highlights “from drill holes PR12‐120 and PR12‐121 drilled on one section in the middle of the deposit primarily to verify the widths and grades of previously defined mineralization. Highlights are: DDH PR12‐120 intersected 213.9m of 1.63 g/t gold (Au), starting at 11.70 metres, and DDH PR12‐120 intersected 196.78m of 1.04g/t gold (Au), starting at 7.92 metres.”
Further assay results were released by La Ronge Gold Corp. via www.sedar.com on May 28th, 2012 which included re‐assaying of Cameco Corporation drilling completed in 1998 including; PR88‐88 1.46g/t Au over 62.4 metres starting at 83.5m and 3.13 g/t over 22.0 metres starting at 46.0 metres, and PR88‐76 2.26 g/t over 19.8 metres starting at 25.8 metres. “La Ronge’s winter/spring 2012 drill program not only confirmed the presence of the mineralized zones intersected by Cameco, but also extended the deposit to the north and south.”
Atocha’s President, Marcy Kiesman stated “We believe we are well located in a historical gold belt with good gold exploration potential and active neighbours. We have historical information and data including an airborne VLF‐EM/magnetic survey and prospecting surveys including rock sampling, to compile, in preparation for a summer exploration program on the Stubble Property. We plan to hit the ground running and have organized an airborne survey to compliment the historical VLF‐EM/magnetic data. ”
Derrick Strickland, P.Geo., is the Qualified Person as defined by National Instrument 43‐101 who has reviewed the technical information in this press release.
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ABOUT ATOCHA
Atocha is a natural resources company engaged in the acquisition and exploration of mining/exploration properties, mainly for gold and other precious metals. The Company has a 100% undivided interest in the McGillivray Property, located in the Kamloops Mining Division of British Columbia. The Company has an option to acquire a 100% undivided interest in the Atkinson (Detour Lake) gold project in Ontario. Atocha owns the Sol Riche and Tresor Nord/Sud REE properties in Montviel Township in Quebec, the Trove, Descouverte and Bijou gold properties in the Abitibi of Quebec and the Strike 101‐114 gold claims near Dawson City, Yukon. Atocha also owns two graphite properties in the Grenville area of Quebec, Montpellier and St. Sixte.
For further information on Atocha, please refer to www.sedar.com.
For further information, please contact:
Marcy Kiesman, Chief Executive Officer Telephone: 604.696.1111 Facsimile: 888.266.3983 E‐mail: [email protected] Website: www.atocharesources.com
Forward‐Looking Statement
This document may contain or refer to forward‐looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward‐looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward‐looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to Atocha Resources Inc., please refer to the Company's Prospectus filed with SEDAR.
The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.