TORONTO--(BUSINESS WIRE)--
Atlanta Gold Inc. (the "Company") (TSXV: ATG; OTC Pink: ATLDF) announces that it has borrowed US$750,000 from Jipangu Inc. on an unsecured basis, bearing interest of 8% per annum and repayable on demand at any time after March 31, 2017 or in some instances sooner if the Company completes a significant equity financing before March 31, 2017.
About the Company
Atlanta Gold Inc. holds through its
100% owned subsidiary, Atlanta Gold Corporation (“AGC”), leases, options
or ownership interests in its Atlanta properties which comprise
approximately 2,159 acres (8.74 square kilometres) located 90 air
kilometers east of Boise, in Elmore County, Idaho. A long history of
mining makes Atlanta very suitable for development of new mining
projects. The Company is focused on advancing its core asset, Atlanta,
towards mine development and production.
The Company is also focused on advancing its exploration and processing methods on the Neal Property, which is located approximately 15 miles from Boise, Idaho and comprises approximately 192 acres (0.78 square kilometres). The Neal Property’s geology is similar to that of the Atlanta Project and it provides the Company with all-season access to further refine the processing equipment and procedures. AGC holds a five-year lease on the Neal Property and has staked an additional seven contiguous claims on public land that was open to mineral entry.
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