Press release from Marketwire
ATAC Resources Ltd. Drills 68.58 m of 4.23 g/t Gold at Conrad, Rackla Gold Project-Yukon
Wednesday, October 09, 2013
ATAC Resources Ltd. Drills 68.58 m of 4.23 g/t Gold at Conrad, Rackla Gold Project-Yukon07:30 EDT Wednesday, October 09, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 9, 2013) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report results from four diamond drill holes recently completed at the Conrad Zone, located within the 12 km² Osiris cluster of gold zones (Conrad, Osiris, Isis East and Sunrise) at the eastern end of ATAC's 100% owned 1,700 km² Rackla Gold Project in central Yukon.
News release highlights:
- Hole OS-13-219 intersects significant gold mineralization in both the Conrad Upper and Lower Zones - 68.58 m of 4.23 g/t gold and 33.86 m of 5.40 g/t gold, respectively; and,
Step-out drilling further extends the strike length of the high-grade breccia mineralization within the Conrad Lower Zone.
"Confirmation of the Lower Conrad breccia zone continuity is a key development as it validates our geological model and confirms our belief in the very significant gold exploration potential along the 300 m length of the Lower Zone," stated Graham Downs, ATAC's CEO.
Conrad Zone drill results:
|Conrad Zone Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Section|
- The reported intersections are drilled thicknesses and are believed to represent approximately 70% to 100% true widths.
- Holes OS-13-222 and 223 were drilled outside the Conrad Zone mineralized envelope and did not return significant intersections.
Carlin-type mineralization at the Conrad Zone is contained within several structural and stratigraphic settings. In the Upper Conrad Zone, gold mineralization occurs along the stratigraphic contact between limestone and an overlying pyritic siltstone cap unit. The Upper Zone has been continuously traced by shallow drilling over a strike length of 800 m between Sections C100E and C900 E. The thickest and best mineralized parts of the Upper Zone occur along the crest of an anticlinal fold where OS-13-219 intersected 68.58 m of 4.23 g/t gold (from 7.62 m to 76.20 m) on Section C600E.
Mineralization at the Lower Conrad Zone has been traced by wide-spaced drill holes for 300 m. It is characterized by alteration and mineralization within and adjacent to a relatively flat-lying fault. On Section C650E, two 2012 drill holes discovered a solution collapse breccia body located at and above the intersection of the flat-lying fault with a near-vertical, east-west trending fracture system. One of these holes (OS-12-116) intersected two intervals in this zone which returned 56.93 m of 4.68 g/t gold and 27.43 m of 4.09 g/t gold.
Hole OS-13-219, which was collared 50 m west of C650E, is the only hole that has tested the strike extension of the solution collapse breccia zone and it returned 33.86 m of 5.40 g/t gold. Limited drilling further west has intersected the mineralized flat-lying fault for a total 300 m strike length; however, the potential strike extension of the breccia body has not been tested along the full length of the Lower Zone. Both Upper and Lower Conrad Zones remain open along strike and at depth.
Hole OS-13-221 intersected a mineralized zone within the siltstone unit at the eastern limit of the known Conrad Zone. The presence of near-surface gold mineralization in the hanging wall siltstone is very significant as it provides encouragement to test the favourable siltstone-limestone contact at depth.
An updated Conrad Zone plan view map with cross sections can be viewed at www.atacresources.com.
Regional-scale exploration in 2013 was focused on advancing geochemical targets peripheral to the 2012 Anubis gold discovery. A total of 8,469 soil samples and 3,539 excavator/hand-pit samples were collected in 2013 within the Nadaleen Trend to complement the previous widely spaced geochemical surveys within the area of relatively low elevation and extensive overburden cover. The regional exploration program results will be announced once they have been received and compiled.
Samples were forwarded to ALS Minerals in Whitehorse, Y.T. or North Vancouver, B.C. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver where gold determinations were carried out. Splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Mercury analyses are performed using atomic absorption spectroscopy (AAS).
Five samples from hole OS-13-219 (14.05 m to 25.80 m) were sent to SGS Mineral Services in Burnaby, B.C. for analysis. They were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. Splits of the pulverized fraction were dissolved using a multi acid digestion and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) and atomic emission spectroscopy (AES). Gold analyses were by the FAA303 procedure that involved fire assay preparation using a 30 gram charge with an atomic absorption spectroscopy (AAS) finish. Mercury analyses were performed using cold vapour atomic absorption spectroscopy (AAS). All of the samples included in this news release have passed the QA/QC procedures as described above.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President and a director of ATAC Resources Ltd., and a qualified person for the purposes of National Instrument 43-101.
ATAC Resources Ltd. is a Yukon-based exploration company focused on developing Canada's only Carlin-type gold district at its 100% owned Rackla Gold Project. Recent exploration on the 1,700 km2 project has resulted in the delineation of the Tiger Gold Deposit, drilling of multiple high-grade Carlin-type gold zones and the identification of over 40 early-stage gold exploration targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC is well-positioned with approximately $20 million in the treasury.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.,
Graham Downs, CEO, ATAC Resources Ltd.
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.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors.
FOR FURTHER INFORMATION PLEASE CONTACT:
ATAC Resources Ltd.
Manager, Corporate Communications
604-687-2522 ext. 260