Mining
Tuesday, November 7th, 2023 2:42 pm EDT
Key Points
- Strategic Initiative for Eagle Salt Project: Atco Mining Inc. has initiated a strategic effort to advance its 100%-owned Eagle Salt Project in Newfoundland, Canada. The company plans to apply for an exploration permit to conduct a 2D seismic survey at the project.
- Gravity Anomalies Indicating Potential Salt Deposits: RESPEC Consulting Inc. recently analyzed gravity survey data for Eagle Salt and identified two gravity anomalies in the southwest (“Baldy”) and northeast (“Golden”) areas. These anomalies suggest the presence of low-density strata, such as salt. Additional 2D seismic surveys are proposed to define the dimensions of the potential low-density strata structure.
- Collaboration with RESPEC and Expertise: The article mentions that RESPEC Consulting Inc. will be working with Atco in applying for the permit to conduct the 2D seismic survey. RESPEC is a company with expertise in underground storage and cavern evaluation, and their involvement highlights the technical expertise behind Atco’s exploration efforts.
Atco Mining Inc. (the “Company” or “Atco”) (CSE:ATCM) (OTC:ATMGF) (Frankfurt:QP9) is pleased to announce that it has begun a strategic initiative to advance its 100%-owned Eagle Salt Project (“Eagle Salt”) in Newfoundland, Canada. Atco intends to apply for an exploration permit to conduct a 2D seismic survey at Eagle Salt and aims to file the Application for Exploration Approval permit with the Mineral Lands Division (Department of Industry, Energy & Technology, Newfoundland and Labrador) within the next two weeks.
Recently, RESPEC Consulting Inc. (“RESPEC”) analyzed Atco’s gravity survey data for Eagle Salt and observed two gravity anomalies in the southwest (“Baldy”) and northeast (“Golden”) areas (Figure 1). The gravity anomalies suggest the presence of low-density strata, such as salt. Additional 2D seismic surveys over these anomalies would allow Atco to define the dimensions of the potential low-density strata structure. Once permits are received, Atco will evaluate next steps in its Eagle Salt exploration program and determine whether to proceed with the survey.
Jai Duhan, Subsurface Energy Storage Consultant at RESPEC, comments, “Conducting a 2D seismic survey is the logical next step in the exploration program and RESPEC is looking forward to working with Atco in applying for the permit to conduct the 2D seismic survey.”
About RESPEC
RESPEC experts have evaluated over 1,000 caverns in nearly every major cavern storage region in the world. Its extensive history underground has helped them pioneer in-house specialty software and rock lab testing that focuses on analyzing solution-mined and conventionally mined caverns. RESPEC has the world’s largest rock laboratory dedicated to the underground storage industry and has experience with some of the largest scale projects in North America, including Mitsubishi Power’s Advanced Clean energy storage project in Utah, the Atco Heartland Energy Centre in Alberta and seven other hydrogen storage projects worldwide.
Qualified Person
The technical content of this news release has been reviewed and approved by Tabetha Stirrett (P.Geo), who is a Qualified Person as defined by NI 43-101.
About Atco Mining (CSE: ATCM):
Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring for sulphide-rich VHMS deposits in Saskatchewan as well as salt opportunities in Western Newfoundland. Investors are encouraged to visit the company’s website here: www.atcomining.com
For further information contact:
Atco Mining Inc.
Email: info@atcomining.com
Telephone: (604) 681-0084
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way approved nor disapproved the contents of this news release.
