Atocha Focusing Exploration Efforts in the Abitibi Greenstone Belt
August 8, 2011 - Vancouver, British Columbia, CANADA – Atocha Resources (the Company), TSX.V – ATT reports that in order to direct its exploration focus on the Abitibi Greenstone Belt in Ontario and Quebec, it has decided to terminate its Besshi, BC Option agreement which was signed on August 2, 2009.
As part of this change of focus, the Company is continuing the Option on the Atkinson (Detour Lake) property, which is located in the Detour Lake Gold Camp, approximately 150 kilometres to the north of Cochrane at the northern margin of the Abitibi Greenstone Belt, in Northern Ontario. The property which has potential for gold, copper and zinc mineralization encompasses over 4,000 hectares.
The Atkinson Property is located proximal to Detour Gold Corporation (DGC-TSX.V) which has reported gold reserves of 14.9 million ounces and is Canada’s largest pure gold play as announced on January 31, 2011 on www.sedar.com. In May 2010, the Company completed 1,207m of drilling in seven holes which were completed over a strike length of 300 metres. There were two main zones which were intersected and a New Zone discovered. Mr. J.T. Shearer had stated that the “The M1 Zone resembles the extensive hanging wall mineralization at the Detour Lake Gold Deposit located to the northeast of the property” and for this reason Atocha will continue to explore the Atkinson Property.
Details of the Option Agreement were released by the Company in news reports dated August 11 and 31, 2009 via www.sedar.com. The Company has amended the Option Agreement whereby the $20,000, second year, cash option payment will be satisfied by issuing 250,000 common shares of Atocha from the treasury subject to TSX Venture Exchange approval.
Shareholders and Investors are encouraged to sign up to the Company mail list in order to receive timely updates. Please visit www.atocharesources.com or email info@atocharesources.com to add your contact details.
J.T. Shearer, M.Sc., P.Geo, is the Qualified Person as defined by NI 43-101 who supervised the preparation of the technical material of this release.
ABOUT ATOCHA
Atocha is a natural resources company engaged in the acquisition and exploration of mining/exploration properties, mainly for copper and 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, the Trove, Descouverte and Bijou gold properties in the Abitibi of Quebec. Atocha also owns the Sol Riche and Tresor Nord/Sud REE properties in Montviel Township in Quebec and the Strike 101-114 gold claims near Dawson City, Yukon.
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: mmk@atocharesources.com
Website: www.atocharesources.com
