Press release from Marketwire
ATAC Resources Discovers Six Carlin-type Gold Targets Surrounding the Anubis Discovery
Tuesday, November 12, 2013
ATAC Resources Discovers Six Carlin-type Gold Targets Surrounding the Anubis Discovery07:30 EST Tuesday, November 12, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2013) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report a new 12 sq/km area of gold and silver mineralization surrounding the Anubis discovery was identified through the compilation of results from its 2013 regional exploration program. This prospective new area is located approximately 10 km west of the Osiris cluster of gold zones (Conrad, Osiris, Isis East and Sunrise) at the eastern end of the Company's Rackla Gold Project, Yukon - one of the world's safest and most mining friendly jurisdictions.
2013 Anubis Area Exploration Highlights:
- Soil geochemistry, prospecting, excavator pitting and mapping have outlined a highly prospective 12 sq/km area centred within a major fault network;
- Six new Carlin-type gold drill targets have been identified; Corona, Columba, Dorado, Draco, Zodiac and Lyra;
- Preliminary sampling at the Dorado gold target, located 2 km northwest of the Anubis 2012 drill discovery has returned assays of 4.64, 3.98, 3.54, 2.63 and 2.62 g/t gold from hand pit grab samples;
- Assay results returned greater than 1 g/t gold from initial grab samples taken from test pits at the Zodiac, Corona and Draco gold targets. In addition, highlight silver values from Zodiac and Corona include 900 g/t (26.25 oz/ton) silver and 2,910 g/t (84.88 oz/ton) silver, respectively; and,
- Anubis and Ana gold targets have been advanced through detailed mapping. Proposed 2014 drilling will initially step out from the Anubis discovery, where hole OS-12-001 intersected 8.51 of 19.85 g/t gold, and the Ana target where 2012 hand pit grab samples returned 5.59, 3.54, 2.45 and 2.01 g/t gold.
A detailed Anubis area map highlighting the 2013 results is available on ATAC's website.
"The 2013 exploration results from the Anubis area have exceeded our expectations with the discovery of a new cluster of Carlin-type gold targets within a geochemical anomaly comparable to that of the Osiris cluster," stated Graham Downs, CEO of ATAC. "The Anubis area now has nine Carlin-type gold targets and numerous unexplored geochemical anomalies along a newly discovered structural corridor. We believe that continuing exploration in the virtually untested Anubis area has the potential to significantly increase the number of gold zones and to broaden the basis for further development of our Carlin-type belt of discoveries while we advance the gold zones of the Osiris cluster."
"The presence of deep-seated regional-scale faults, associated pathfinder elements and gold geochemical anomalies as well as the abundance of early stage gold discoveries are testaments to a robust mineralizing system," stated Rob Carne, President and Chief Geologist of ATAC. "The outstanding success of the 2013 reconnaissance-scale follow-up exploration in the newly defined Anubis area is further proof of the rich geological environment and extensive mineralizing system that we are only beginning to unravel. We are looking forward to another year of continued discovery in the Rackla Gold Project as we test the Anubis area with a focused and fully funded drill program in 2014."
The 12 sq/km Anubis area is underlain by favourable Paleozoic limestones, shales and calcareous siltstones. These are cut by a network of regional-scale fault zones. Widespread Carlin-type pathfinder elements (arsenic, antimony, mercury and thallium) and gold-in-soil geochemical anomalies are associated with the fault zones. The Anubis geochemical anomaly is comparable in size and intensity to the Osiris cluster anomaly. A comprehensive excavator and hand pit sampling program was conducted in 2013 to test bedrock peripheral to the faults. This work has added six new Carlin-type gold occurrences (Corona, Columba, Dorado, Draco, Zodiac and Lyra), to the 2012 discoveries at Anubis, Ana and Hydra.
The discovery of high-grade silver-lead-zinc mineralization in four widely spaced areas is another very exciting development at the Anubis area. Grab samples from test pits at the Zodiac and Corona targets returned 1.03 g/t gold, 460 g/t (13.42 oz/ton) silver, 11.75% lead and 10.90% zinc and 1.62 g/t gold, 1,490 g/t (43.46 oz/ton) silver and 31.08% lead, respectively. Like the Carlin-type gold mineralization, the silver targets are associated with fault zones cutting Paleozoic sedimentary rocks. Due to the amount of overburden cover and the early stage of exploration in the area, the relationship between the two styles of mineralization is not clear; however, at the Zodiac showing, Carlin indicator minerals realgar (arsenic) and cinnabar (mercury) clearly overprint silver mineralization. This suggests that the Anubis Fault system is a long lived structure responsible for multiple mineralizing events.
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. Pulps were then analyzed at ALS Minerals in North Vancouver where gold determinations were carried out. Rock sample gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Initial multi element data for 49 elements was determined by the ME-MS61 procedure that involves a four acid digestion followed by inductively coupled plasma mass spectrometry and inductively coupled plasma atomic emission spectroscopy. Over limit values for lead, silver and zinc are determined by the Ag/Pb/Zn-OG62 method that utilizes a four acid digestion followed by an atomic absorption spectroscopy finish. Over limit values for silver determined by the OG62 method are re-analyzed using the Ag-GRA 21 method which involves fire assay preparation using 30 gram charge and a gravimetric finish. Over limit values for lead determined by the OG-62 method are re-analyzed by dissolution of the metal followed by titration.
Test pit grab sample values reported in this release represent significant results only. Below detection values for gold, silver, lead and zinc were encountered in reported and non-reported grab samples from the 2013 test pitting program.
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 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 sq/km 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 over $19 million in its treasury.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, CEO
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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.
To view the map accompanying this press release please click the following link: http://media3.marketwire.com/docs/AnubisAreaDiscoveries.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
ATAC Resources Ltd.
Manager, Corporate Communications
604-687-2522 ext. 260