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Nevada ranks as one of the world's premier gold mining regions, with 200 million ounces of past production, current resources and reserves; and over 6.5 million ounces of annual gold production. The vast majority of gold production occurs in Northern Nevada, along the three major sediment-hosted gold trends, (Carlin, Battle Mountain-Eureka and Getchell) with significant additional production from epithermal deposits of the Northern Nevada rift, and Walker Lane structural province. Nevada is a relatively young gold district with some of its major discoveries made within the last ten years, Ken Snyder in 1997, Cortez Hills in 2003, and Atna's own Pinson Project in 2005.
Atna has positioned itself as a significant participant in Nevada. The acquisition of the Pinson project in 2004 highlights Atna's aggressive entry into the Nevada gold province. Pinson represents a high-grade underground gold development opportunity with potential to achieve cash flow and a high rate of return in the near term. Pinson has significant exploration potential to augment the company's pipeline of exploration projects in Nevada which could lead to additional discovery and explosive growth.
2007 Nevada Gold Program
This Year Atna plans to continue exploration on our 100% Atna owned projects by drilling 20,000 to 25,000 feet, including 12,000 to 14,000 feet at Jarbidge (currently underway) and 6,000 feet at Beowawe (recently completed). Our partner, Meridian Minerals is planning to test drill our Clover property during the fall. Barrick Gold must spend $ 30 million before April 2009, now less then two years, on our Pinson Project. Atna will continue to evaluate acquisition opportunities primarily in Nevada but also else where in North America, Mexico and Chile.
Our goal is to build a mining company and become a mid-tier producer with more than one property in production. Our corporate strategy is to continuously develop a 'pipeline' of grass roots through advanced gold projects in order to maximize our discovery opportunity and to leverage Atna's own exploration expenditures via joint ventures. Atna maintains an exploration office in Reno, Nevada with a technically skilled and locally experienced exploration team to apply creative exploration methods and models to our search for new gold deposits.
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