Recently gone public in 2009, Atocha Resources, Inc. (TSX-Venture:ATT) is a natural resources company engaged in acquisition and exploration of mining and exploration properties, primary focus copper and precious metals. The Company is rapidly developing itself a reputation as a force in acquisitions of prime properties with proven potential throughout Canada.
Atocha currently has five projects in its portfolio including the Atkinson (Detour Lake) Project, located northeast of Cochrane, Ontario, which encompasses nearly 3,000 hectares and testing resulted in the discovery of significant gold mineralization of 10.7 grams per ton gold over a core length of 9.0 metres.
Further drilling has resulted in additional positive results. East-southeast of Lillooet, British Columbia, Canada lays the McGillivray property, which is near the precious metal Skoonka Creek property. Previous work on the property outlined large zones of hydrothermal alteration and anomalous copper.
The Company’s Besshi property consists of 800 hectares located north of Fort St. James, B.C. and grab samples from the veins yielded assays of up to 1015 g/t gold (60 oz./ton), with 36 samples of vein material averaging 2.2 oz./ton gold, with the entire zone estimated to carry 0.11 oz./ ton gold.
Additionally, Atocha has an option to acquire a 100% interest in the Yukon Strike 101-114 Claims (300 hectares) near Dawson City, Yukon. The claims are located in very close proximity to the White Gold Deposit of Underworld Resources, who was acquired by Kinross Gold (TSX:K) for approximately $139 million in March 2010.
In August, Atocha added to its extensive portfolio by signing a property option agreement on the "Trove Claims" to acquire a 100% interest in the 1,500 hectare property located to the southwest of Eagle Hill’s (TSX-Venture:EAG) Windfall Lake Gold Property.
The Eagle Hill property has in excess of 330 diamond drill holes with results as high as 52.3 oz./t over 4.8 metres. A program earlier this year hit wide gold mineralization showing 14.51 g/t gold over 52.0 metres and 3.35 g/t of gold over 24.6 metres.
Today, Atocha announced that it has, once again, expanding its portfolio of prolific properties through the acquisition of two properties, Bijou and Descouverte, in the proven Abitibi Greenstone Belt. The new properties are comprised of 89 new claims and 4,893 hectares directly adjacent to Bonterra Resources (TSX-Venture:BTR) and southwest of the Beaufield Resources Inc. Tortigny deposit (TSX-Venture:BFD).
Less than two months ago, Beaufield announced drill results from its property that produced 4.20% zinc, 2.72% copper, 0.19% lead, 500.93 g/t cobalt, 720.02 g/t silver and 0.53 g/t gold over 322.15 meters. A 1997 non NI 43-101 compliant resource showed 489,900 tonnes 2.21% copper, 6.15% zinc, 0.24% lead, 0.31 g/t gold and 60.08 g/t silver (as reported by Noranda, Inc.).
The Bijou Property, which wraps to the south of BonTerra's Eastern Extension Properties, consists of 1,016.66 hectares in 18 claims. Last week, Bonterra announced drill assay results as high as 77.8 grams per tonne gold on an area of the property near Atocha’s near land.
While many of these properties are being freshly sampled and drilled, Atocha’s has uniquely positioned itself through aggressive acquisitions in areas that have major potential to prove significant reserves. The Company has been strategic in all acquisitions and for a company that has only been trading publicly for less than 18 months is on radar to continue to make a name for itself within the industry.
The V.ATT price per share has seen some volatility over that time, but is on the move again this month by adding a dime per share in a climb from seven cents to a peak at 18½ cents on Monday. While the markets are tumbling recently and shares are giving some back, Atocha Resources will remain high on our radar list as it is near all-time highs and is enveloped in potential.
