Press release from Marketwire
ATAC Resources Ltd. Provides Overview of its 2013 Exploration Program at the Rackla Gold Project, Yukon
Tuesday, April 09, 2013
ATAC Resources Ltd. Provides Overview of its 2013 Exploration Program at the Rackla Gold Project, Yukon07:30 EDT Tuesday, April 09, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 9, 2013) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to provide an overview of its initial 2013 exploration and drilling program for its 100% owned Rackla Gold Project in east-central Yukon. The program will focus on definition drilling of high-grade at or near-surface discoveries within the Nadaleen Trend at the Sunrise, Isis East and Anubis Zones and continue to advance regional exploration targets identified in late 2012 elsewhere within the Nadaleen and Rau Trends.
ATAC's Rackla Gold Project covers an area of 1,700 sq/km and hosts Canada's first Carlin-type gold discoveries. The project area is divided into two distinct trends: (i) the 50 km long Nadaleen Trend which hosts Carlin-type mineralization at the Conrad, Osiris, Isis East, Sunrise and Anubis Zones: and (ii) the 20 km long Rau Trend which hosts the Tiger Gold Deposit, Ocelot silver-lead-zinc-tin discovery and the new Bengal gold showing. Property-wide regional exploration has outlined ten Tier 1 Carlin-type gold targets within the Nadaleen Trend as well as multiple anomalous targets within the Rau Trend.
The 3 by 4 km Osiris area contains the Conrad, Osiris, Isis East and Sunrise Carlin-type gold zones. The majority of drilling in 2013 will be on the new Sunrise discovery and Isis East Zone where drilling to date has confirmed high-grade at or near-surface gold mineralization that remains open in all directions.
- The Sunrise Zone is located upslope of a strong, untested 320 by 240 m gold-in-soil geochemical anomaly. The discovery hole collared in mineralization and returned 14.86 m of 10.54 g/t gold in OS-12-173. Only three holes to date have tested the Sunrise Zone;
- Drilling at the Isis East Zone in 2011 and 2012 confirmed significant widths, grade and down-dip potential. The Isis East mineralized zone measures 200 m in strike length by 30 m width and to a depth of 150 m. Highlight drilling intersected 27.43 m of 6.28 g/t gold in OS-12-120;
- Based on 99 drill holes, the current strike length of the Conrad Zone is 800 m and it remains open along strike and at depth. Highlight drilling intersected 42.93 m of 18.44 g/t gold in OS-12-114; and,
- The current strike length of the Osiris Zone is 800 m and it remains open along strike and at depth. The Carlin-type mineralization discovery drill-hole intersected 65.20 m of 4.65 g/t gold in OS-10-001 at Osiris.
Anubis Discovery Area and Regional Targets
A second broad target area for Carlin-type mineralization was drill-confirmed in late 2012 at the Anubis discovery located 10 km to the west of the Osiris area. Anubis has a similar surface geochemical signature and associated structural controls for gold mineralization as seen at the Osiris area. Highlights include:
- The Anubis area is located within a 600 m long arsenic/gold geochemical anomaly; and,
- The Anubis discovery hole AN-12-001 intersected 8.51 m of 19.85 g/t gold and remains open along strike and down-dip.
Regional exploration has outlined nine Tier 1 Carlin-type gold targets within a 10 by 18 km area surrounding the Anubis discovery hole. These targets have received little or no follow-up work and will be advanced to the drill stage in 2013.
True widths for all highlighted drill-holes within the Osiris and Anubis discovery areas are estimated to be 75% - 100% of intersected widths.
Tiger Gold Deposit Area
From 2008 through 2010, drilling on the Rackla Gold Project focused on defining resources at the stratabound, structurally-controlled Tiger Gold Deposit. Based on a 2011 NI 43-101 mineral resource estimate at the Tiger Gold Deposit, ATAC is contemplating scoping level studies to examine options for advancing the near-surface, higher grade oxide-only indicated resource of 337,500 ounces of gold (2,470,000 tonnes with an average grade of 4.25 g/t gold) and oxide-only inferred resource of 17,400 ounces gold (180,000 tonnes with an average grade of 3.00 g/t gold), both calculated using a 1.60 g/t gold cut-off grade.
The Bengal Showing was discovered in 2012 three km south of the Tiger Gold Deposit. It occurs within a newly defined 5.6 km intermittent gold-in-soil anomaly underlain by an extensive carbonaceous unit, where outcrop channel samples returned grades from below detection to 3.2 g/t gold across 1.0 m. This area will receive focused follow-up exploration in 2013.
"Since 2008, ATAC has made nine drill discoveries on its 1,700 sq/km Rackla Gold Project," states Rob Carne, ATAC's President. "In 2013 we will continue to define our known zones of gold mineralization while focusing on sustaining our high discovery rate. Our recent financing with Agnico-Eagle Mines Limited has topped up our treasury to $27 million and allows us the flexibility to intensify exploration and drilling as results warrant."
The Tiger Gold Deposit mineral resource estimation was completed by Gary Giroux, P.Eng., MASc. (Giroux Consultants Ltd.) who is a qualified person and independent of ATAC, based on the criteria defined by National Instrument 43-101. Quality control data generated during the various drill programs conducted at the Tiger Gold Deposit were independently reviewed by Giroux Consultants Ltd. as part of the resource study. Please see ATAC's news release dated October 20, 2011 for details on the Initial Resource Estimate for the Tiger Gold Deposit. The full Tiger Gold Deposit NI 43-101 technical report is available on SEDAR (http://www.sedar.com/).
The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President of ATAC Resources Ltd., and a qualified person for the purposes of National Instrument 43-101.
ATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold district at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.Contact Information:
ATAC Resources Ltd.
Manager, Corporate Communications
604-687-2522 ext. 260