ATAC Resources Ltd. Drilling Confirms Two New Gold November 30, 2010 - ATAC Resources Ltd. (TSX-V:ATC) ispleased to announce final 2010 diamond drill results from the Osirisarea, located along the Nadaleen Trend of the Company's wholly-owned1,600 sq/km Rackla Gold Belt in central Yukon.
Based on the resultsof the Osiris area drilling and new Nadaleen Fault discoveries at theConrad and Eaton Showings, the Company has increased its proposed 2011drill program to include a minimum of 40,000 m of diamond drillingutilizing up to eight drills.
The Nadaleen Trend is defined by a 25 km long, 5 km wide, east-westtrending belt where stream sediment samples are highly anomalous forarsenic and/or thallium and mercury.
Eight days of surface follow upand four weeks of reconnaissance drilling within a restricted eightsq/km area of the Nadaleen Trend revealed five significant areas ofsurface gold showings. Four of these targets were drilled, resulting inthree confirmed gold discoveries at the Osiris, Conrad and EatonShowings. The remaining 90% of the Nadaleen Trend will beaggressively explored in 2011. Highest gold grades are associated withintense decalcification or decarbonatization and clay alteration oflimestone, and enhanced thallium content - all of which are signaturecharacteristics of Carlin-type mineralization.
Osiris Showing
• Four of six broadly spaced holes along a 300 m wide fence across thesouth part of the Osiris gold-in-soil anomaly yielded significant goldbearing intercepts.
• Multiple intersections occur in some of the holes confirming theCompany's belief that the Osiris target consists of stacked gold-bearingintervals within favourable limestone debris flow units that are linkedby feeder structures.
| Hole ID |
Dip/Azimuth |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
| OS-10-01* |
-50°/270° |
7.62 |
16.38 |
8.76 |
1.81 |
|
|
56.08 |
121.28 |
65.20 |
4.65 |
|
includes |
72.20 |
103.33 |
31.13 |
9.26 |
|
|
|
|
|
| OS-10-02 |
-50°/270° |
14.07 |
49.15 |
35.08 |
2.31 |
|
includes |
33.07 |
45.57 |
12.50 |
5.29 |
| Bottomed in mineralization |
138.60 |
143.25 |
4.65 |
2.48 |
|
|
|
|
|
|
| OS-10-03 |
-50°/090° |
104.79 |
127.09 |
22.30 |
2.21 |
|
includes |
106.74 |
117.00 |
10.26 |
4.14 |
|
|
|
|
|
|
| OS-10-04 |
-50°/090° |
1.52 |
18.28 |
16.76 |
2.03 |
|
includes |
13.63 |
18.28 |
4.65 |
5.77 |
|
|
|
|
|
|
|
229.00 |
236.22 |
7.22 |
8.37 |
|
|
|
|
|
|
| OS-10-06 |
-50°/09° |
4.20 |
9.14 |
4.94 |
1.76 |
* Previously released
Reported intersections are drilled thicknesses. True widths are notknown as mineralization is controlled by both structure and bedding.
Drill hole OS-10-05 was collared outside the Osiris gold-in-soil anomaly and did not intersect mineralization.
Nadaleen Fault (Conrad and Eaton Showings)
Conrad Showing
One hole at the Conrad Showing (OS-10-08) and one hole at the EatonShowing (OS-10-09) were drilled to test an intense alteration zonedirectly associated with the Nadaleen Fault, a regional east-weststructure interpreted to be a possible feeder structure for the Osirisarea mineralized zones.
• Alteration associated with the structure is significantly more intensethan observed in the Osiris and Isis Showings, with host limestone(Conrad) and calcareous sandstone (Eaton) exhibiting strong clayalteration, decarbonatization and jasperoid alteration.
• The Nadaleen Fault is at least 5 km long and has seen very limitedprospecting elsewhere on the property. Spring water precipitate samplestaken 4 km to the west of the Conrad-Eaton area graded 15.5% arsenic. Amineralized mafic dyke occurs along this structure, a feature of feederstructures in the Carlin Trend.
• Mineralization along the Nadaleen Fault has been traced byprospecting for 500 m. Four representative rock samples collected from a250 m long transect along the steep hillside graded 21.4, 21.9, 40.3and 66.6 g/t gold, while a continuous channel sample taken across ashort hand trench that partially exposed the zone assayed 14.89 g/t goldover 2.30 m.
A single short hole was drilled to test the
Conrad Showing below the hand trench:
| Hole ID |
Dip/Azimuth |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
| OS-10-08* |
-45°/220° |
41.35 |
62.48 |
21.13 |
8.03 |
|
includes |
41.35 |
53.34 |
11.99 |
13.60 |
* The reported intersection is the drilled thickness and is believed to represent approximately 90% true thickness.
• The Conrad discovery occurs at an elevation 500 m lower than theOsiris gold discovery, confirming the significant vertical extent ofmultiple stacked mineralizing systems.
Eaton Showing
Drill hole OS-10-09 tested a strong alteration zone exposed in a creekcut located approximately 300 m east of the Conrad Showing and 100 msouth of the Nadaleen Fault.
| Hole ID |
Dip/Azimuth |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
| OS-10-09* |
-50°/340° |
104.47 |
144.23 |
39.76 |
1.61 |
|
includes |
108.20 |
117.84 |
9.64 |
3.36 |
*Reported intersections are drilled thicknesses. True widthsare not known as mineralization is controlled by both structureand bedding.
• The mineralized intercept occurs within highly altered and silicifiedor jasperoid altered calcareous sandstone, a different host rock thanidentified in the other discovery areas.
• The entire 5 km length of the Nadaleen structure is now considered a priority drill target.
Isis Showing
The Isis Showing occurs with a limestone debris flow unit that liesapproximately 200 m stratigraphically above the Osiris Horizon. Threeareas of gold showings and/or gold-in-soil anomalies occur along 2 km ofstrike length. One reconnaissance drill hole at the west end of thetarget intersected a 230 m zone of decalcified limestone, withconcentrations of orpiment and realgar (arsenic sulphides) and finegrained pyrite.
• The intercept was geochemically anomalous with weak gold grades throughout.
• The remaining 2 km strike length of the Isis Horizon will be sequentially drill tested in 2011.
| Hole ID |
Dip/Azimuth |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
| OS-10-07 |
-50°/085° |
32.00 |
49.00 |
17.00 |
0.92 |
|
|
77.72 |
80.77 |
3.05 |
1.49 |
Reported intersections are drilled thicknesses. True widthsare not known as mineralization is controlled by both structure andbedding.
"The Osiris area gold discoveries are very exciting as they are theproduct of only a four week long prospecting to reconnaissance drillprogram. Results confirm, that the characteristic alteration, style,type and gold grade of Carlin-type mineralization occur in Yukon; afirst for Canada," states Graham Downs, ATAC's CEO. "First passexploration has been completed on only ten percent of the highlyprospective 25 km Nadaleen Trend. Next year's project design andlogistics are currently underway in preparation for a greatlyaccelerated exploration program for this area and the remaining part ofthe 185 km long Rackla Gold Belt on the Company's 100% owned Rau GoldProject."
ATAC Resources Ltd. will host a conference call and webcast to discussthe final results from the Osiris area on December 1, 2010 at 5:30 amPST.
Live Dial-In Information
Toronto and International: 416-340-2216
North America (Toll Free): 866-226-1792
Europe (Toll Free): 800-9559-6849
* Participant webcast:
https://www.investorcalendar.com/IC/CEPage.asp?ID=162663
Replay Call Information
Toronto and International: 905-694-9451 passcode: 3114588
North America (Toll Free): 800-408-3053 passcode: 3114588
The conference call replay will be available from 9:00 am PST on December 1, 2010 until December 14, 2010 at 11:59 pm.
* Please note that you will only be able to partake in the Questions and Answers portion by dialing into the conference call.
Gold determinations were carried out at ALS Chemex in NorthVancouver, B.C. where samples were fine crushed before a 250 gram splitwas pulverized to better than 85% passing 75 microns. The pulverizingcircuit was cleaned with quartz sand twice between samples. Splits ofthe pulverized fraction were routinely dissolved in aqua regia andanalyzed for 49 elements using inductively coupled plasma (ICP) togetherwith mass spectrometry (MS) or atomic emission spectroscopy (AES). Goldanalyses were by the Au-AA26 procedure that involves fire assaypreparation using a 50 gram charge with an atomic absorptionspectroscopy finish.
Rigorous procedures are in place regarding sample collection, chain ofcustody and data entry. Certified assay standards, duplicate samples andblanks are routinely inserted into the sample stream to ensureintegrity of the assay process.
The technical information in this news release has been reviewed byRobert C. Carne, M.Sc., P.Geo., a qualified person for the purpose ofNational Instrument 43-101.
ATAC is a well funded junior mining company focused on its wholly-owned1600 sq/km Rau Gold Project -- Canada's only Carlin-type gold discovery.For additional information concerning ATAC Resources Ltd., please visitATAC's website at
www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO
ATAC Resources Ltd.
T: 604-687-2522