Cascadia Minerals Ltd V.CAM

North of 60 Mining News, Sept 9th

[hiker1]

Just released in the North of 60 Mining News.......started bolding text that struck out to me and realized the whole thing should be bolded!  Enjoy!  


Yukon Territory

GOLD – Shares of Vancouver-based Yukon gold explorer Atac Resources Ltd. extended market gains Sept. 8, rising C$1.22, or 20 percent, to C$7.22, reflecting total gains of 171 per cent so far in September. The company Sept. 1 reported that the first diamond drill hole at the Osiris Target on its Sten claim block of the Rau Project in east-central Yukon Territory intersected 9.26 grams per metric ton gold over 31.13 meters within a larger interval that averaged 4.65 g/t gold over 65.20 meters. Assays from the remaining 98 m of the hole are still pending. Reported intersection widths are drilled thicknesses. True widths are not known as mineralization appears to be controlled by both bedding and structure. The Sten claims are situated at the eastern end of Atac’s 1,400-square-kilometer Rau project about 100 kilometers east of the Tiger Zone, which has been the focus of most of the company’s exploration efforts to date. Mineralization in the Osiris target area shares many of the characteristics of Carlin-type gold deposits, including similar alteration assemblages and association with the low-temperature arsenic sulphides, realgar and orpiment. Host rocks are two, 150- to 250-meter thick limestone debris flow and turbidite units, referred to as the Osiris and Isis Horizons, which occur within basinal silty mudstones. Drill hole OS-10-01 has partially tested a 150-by 500-meter gold-arsenic soil geochemical anomaly over the Osiris Horizon where 60 percent of soil samples graded in excess of 1 g/t gold. Preliminary prospecting has identified gold-bearing talus and in-situ mineralization intermittently for an additional 2.1 kilometers, or nearly 1.4 miles, along strike. Grades of surface grab and bedrock samples range from 1.95-39.2 g/t gold. The vertical extent of observed bedrock mineralization is in excess of 300 meters. Atac has accelerated its exploration efforts in the Osiris target area. Four of six drill holes, which will test a 300-meter-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. Drill pads have been constructed to test the Isis Horizon that lies 100 meters above the Osiris Horizon, where prospecting has returned grab samples ranging from 1.48-23.90 g/t gold within a 150-by-900-meter gold-arsenic soil geochemical anomaly. “Initial results from the first Osiris drill hole have confirmed the company’s belief that the Rau Gold Project covers a new gold district,” said Atac CEO Graham Downs. “We have completed a 1,400-sq/km detailed stream sediment sample survey, covering 160 kilometers of strike length. Initial results of that work are very encouraging and numerous targets for follow-up work in 2011 have already been identified. Drilling will continue at the Osiris and Tiger zones and other new targets as long as weather permits,” he added.


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