VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2010) - ATACResources Ltd. (TSX VENTURE:ATC) is pleased to announce that the firstdiamond drill hole at the Osiris Target on its Sten claim block hasintersected 9.26 g/t gold over 31.13 m within a larger interval that averaged 4.65 g/t gold over 65.20 m. Assaysfrom the remaining 98 m of the hole are still pending. Significantintervals for the top portion of OS-10-01 are tabulated below:
The Sten claims are situated at the eastern end of ATAC'swholly-owned 1400 sq/km Rau Gold Project in central Yukon - about 100 kmeast of the Tiger Zone, which has been the focus of most of theCompany's exploration efforts to date.
Mineralization in the Osiris Target area shares many of thecharacteristics of Carlin-type gold deposits, including similaralteration assemblages and association with the low temperature arsenicsulphides, realgar and orpiment. Host rocks are two, 150 to 250 m thicklimestone debris flow and turbidite units, referred to as the Osiris andIsis Horizons, which occur within basinal silty mudstones.
Drill hole OS-10-01 has partially tested a 150 by 500 mgold-arsenic soil geochemical anomaly over the Osiris Horizon where 60%of the soil samples grade in excess of 1 g/t gold. Preliminaryprospecting has identified gold-bearing talus and in-situ mineralizationintermittently for an additional 2.1 km along strike. Grades of surfacegrab and bedrock samples range from 1.95 g/t gold to 39.2 g/t gold. Thevertical extent of observed bedrock mineralization is in excess of 300m.
The Company has accelerated its exploration efforts in the Osiris Target area:
- Four of six drill holes, which will test a 300 m wide section across the Osiris Horizon have been completed to date;
- Prospecting is ongoing and a 4.5 sq/km soil geochemistry grid extension is underway; and,
- Drill pads have been constructed to test the Isis Horizon that lies 100 m above the Osiris Horizon, where prospecting has returned grab samples ranging from 1.48 to 23.90 g/t gold within a 150 by 900 m gold-arsenic soil geochemical anomaly.
"Initial results from the first Osiris drill hole haveconfirmed the Company's belief that the Rau Gold Project covers a newgold district," states Graham Downs, ATAC's CEO. "We have completed a1400 sq/km detailed stream sediment sample survey, covering 160 km ofstrike length. Initial results of that work are very encouraging andnumerous targets for follow up work in 2011 have already beenidentified. Drilling will continue at the Osiris and Tiger Zones andother new targets as long as weather permits."
Gold determinations were carried out at ALS Chemex inNorth Vancouver, B.C. where samples were fine crushed before a 250 gramsplit was pulverized to better than 85% passing 75 microns. Thepulverizing circuit was cleaned with quartz sand twice between samples.Splits of the pulverized fraction were routinely dissolved in aqua regiaand 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 fireassay preparation using a 50 gram charge with an atomic absorptionspectroscopy finish.
Rigorous procedures are in place regarding samplecollection, chain of custody and data entry. Certified assay standards,duplicate samples and blanks are routinely inserted into the samplestream to ensure integrity of the assay process.
The technical information in this news release has beenreviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for thepurposes of National Instrument 43-101.
ATAC is a well funded junior mining company focused onprecious metals. For additional information concerning ATAC ResourcesLtd. or its various exploration projects please visit ATAC's website at www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO
ATAC Resources Ltd.
This news release may contain forward looking statementsbased on assumptions and judgments of management regarding future eventsor results that may prove to be inaccurate as a result of explorationand other risk factors
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.