Idaho--(BUSINESS WIRE)--Jan. 4, 2006--Atlas Mining
Company (OTCBB:ALMI) announced today that it has
started a drilling program from the new 15 degree
decline tunnel at the Dragon Mine and will drill additional holes from the surface.
The drilling program is designed to explore new and previously discovered areas
near the main bed and to ascertain the extent of the structure to help in directing
the route of the decline as it advances toward lower levels of the mine. The
drilling program, conducted by Kettle Drilling, will also include surface holes
near a newly discovered outcrop of halloysite on the north side of the pit wall.
Geologists have located additional outcrops of halloysite near the area of the
decline, which could expand into additional mineable material in that area.
The tonnage in the additional areas is unknown at this point but will add to
the approx. 300,000 tons already known to exist. Geologists have also been reviewing
underground maps to determine the most advantageous routes for access to the
halloysite beds at lower levels. According to William Jacobson, President and
CEO, "It's a matter of which is the best way to access the main deposit so we
can get the most out of it, and at the same time develop additional deposits." Geologists
have determined that the majority of the higher grade material lies at the 300
foot level or lower. The decline has been advanced to about the 250 foot level,
and the Manhattan tunnel to the south is being opened at the 300 foot level,
making it possible for the two tunnels to intersect. This action will open a
sizeable amount of area for future development and mining.
About Atlas Mining Company
Mining Company is a diversified natural resource
company with its primary focus on the development
of the Dragon Mine in Juab County, Utah, the only
known commercial source of halloysite clay outside
of New Zealand. The unique purity and quality of
the Dragon mine halloysite is unmatched anywhere
in the world and has spawned considerable research
in the nanotechnology fields and has created exciting
new applications for this product. Atlas also holds
mining and timber interests in Northern Idaho, and
operates an underground mining contracting business.
Atlas stock trades on the OTC Bulletin Board under
the symbol "ALMI". More information about Atlas Mining
Company can be found at www.atlasmining.com .
Safe Harbor Statement
Except for the historical statements made herein,
the statements made in this release are forward-looking
statements. Risk factors that could cause actual
results to differ materially from those projected
in forward-looking statements include, but are not
limited to, general business conditions, managing
growth, and political and other business risks. All
forward-looking statements are expressly qualified
in their entirety by this Safe Harbor Statement and
the risks and other factors detailed in the Company's
reports filed with the Securities and Exchange Commission.
Atlas Mining Company undertakes no duty to update
these forward-looking statements.