ATAC Resources (
TSX: V.ATC,
Stock Forum) announced initial results from its on-going 2014 exploration program at its 100%-owned Rackla Gold project located in central Yukon.
According to the
news release, the results are from drilling and surface work at the Conrad, Sunrise and Anubis Zones located within the Nadleen Trend at the eastern end of Rackla.
Highlights from the assay results included 9.50 g/t gold over 30.79 metres at OS-14-277 which extended high-grade mineralization.
Drilling at Sunrise extended mineralization to the west of 2013 drilling while surface area exploration at Anubis outlined pathfinder element + gold anomalies with an eight kilometer cumulative strike length.
Company CEO, Graham Downs, commented, “Step out hole OS-14-227 further demonstrates the continuity and high grade nature of the Conrad Zone which remains open in all directions.”
Then he summed up, “With only limited drilling having been completed at the Lower Zone, significant potential exists to find new areas of mineralization and to expand the Lower Zone and associated flat-lying mineralized fault breccias.”
ATAC Resources was in the news recently when
the Vancouver-based company released a positive PEA for part of the Yukon Gold Project at the end of July.
Shares rose 5.49% on the news to $0.96 per share.
Currently there are 117.8m outstanding shares with a market cap of $113.1 million.