VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 7, 2014) - ATAC Resources Ltd. ("ATAC") (TSX VENTURE:ATC) is pleased to report results from the final three 2014 diamond drill holes recently completed at the Conrad Zone, located within the Nadaleen Trend at the eastern end of ATAC's 100% owned 1,700 sq/km Rackla Gold Project in central Yukon.
Highlights:
- All three step-out holes at the Conrad Lower Zone hit high-grade gold mineralization and expand the zone;
- Lower Zone gold mineralization occurs as multiple stacked, flat-lying bodies that are concentrated along a vertical siltstone-limestone contact - the Lower Zone remains open along strike and at depth; and
- Newly discovered high-grade gold mineralization below the Lower Zone opens up an entirely new area for exploration.
Conrad Zone
Conrad Zone
Drill Hole |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Section |
| |
|
|
|
|
|
| OS-12-228 |
321.50 |
361.72 |
40.22 |
6.57 |
450 E |
| |
incl. |
323.41 |
335.28 |
11.87 |
18.18 |
|
| |
and |
426.72 |
451.10 |
24.38 |
3.00 |
|
| |
|
|
|
|
|
| OS-12-229 |
281.86 |
301.10 |
19.24 |
4.21 |
425 E |
| |
and |
371.86 |
381.00 |
9.14 |
2.80 |
|
| |
and |
448.06 |
484.63 |
36.57 |
5.06 |
|
| |
incl. |
467.91 |
481.49 |
13.58 |
9.40 |
|
| |
|
|
|
|
|
| OS-12-230 |
624.84 |
667.51 |
42.67 |
3.03 |
400 E |
| |
incl. |
630.94 |
637.03 |
6.09 |
13.61 |
|
| |
and |
697.62 |
719.33 |
21.71 |
3.15 |
|
| |
incl. |
710.18 |
719.33 |
9.15 |
5.85 |
|
| • |
The reported intersections are drilled thicknesses and are believed to represent approximately 90 to 100% true widths. |
"The 2014 Conrad drilling program achieved its objective, with all four holes expanding the Lower Zone with high-grade gold intersections either along strike or below known mineralization," states Julia Lane, ATAC's Rackla Gold Project Manager. "Only 300 m of the presently known 800 m long favourable siltstone-limestone contact has been tested and the Lower Zone remains open to expansion along strike and below the current tier of drill intersections."
Carlin-type gold mineralization at the Conrad Zone occurs in both an upper and lower zone and is hosted in multiple structural and stratigraphic settings. Mineralization at the Conrad Lower Zone is characterized by strong alteration and mineralization within multiple stacked, flat-lying bodies proximal to a laterally extensive near vertical siltstone-limestone contact. The final three 2014 drill holes were targeted based on recent successful drilling at the Lower Zone which intersected 30.79 m of 9.50 g/t gold (hole OS-14-227). Updated cross sections can be viewed on ATAC's website.
All three holes were drilled west of hole OS-14-227 (see news release dated August 26, 2014) and intersected high-grade gold mineralization. Holes OS-14-228 and OS-14-229 further demonstrate the lateral continuity and high grade nature of the Lower Zone with intercepts of 40.22 m of 6.57 g/t gold and 36.57 m of 5.06 g/t gold, respectively. The final hole, OS-14-230 intersected two new significant gold intervals that returned 42.67 m of 3.03 g/t gold and 21.71 m of 3.15 g/t gold, beneath previously known Conrad mineralization. Mineralization at the Lower Zone remains open along strike and at depth.
An extensive trenching and auger drilling program was recently completed within the 12 sq/km Anubis area located 10 km west of the Osiris cluster of gold zones. Results from this program will be released when results have been received and compiled.
QA/QC
Samples were forwarded to ALS Minerals in Whitehorse, Y.T. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver, B.C. where gold determinations were carried out. Splits of the pulverized fraction were dissolved using a multi acid digestion and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) and atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy (AAS) finish. Mercury analyses were digested with aqua regia and analyzed by inductively coupled plasma mass spectrometry (ICP-MS).
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. All of the samples included in this news release have passed the QA/QC procedures as described above.
The technical information in this news release has been approved by Julia Lane, P.Geo., the Rackla Gold Project manager and a geologist with Archer, Cathro & Associates (1981) Limited, and a qualified person for the purposes of National Instrument 43-101.
About ATAC
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 work on the 1,700 sq/km project has resulted in a positive Preliminary Economic Assessment for the Tiger Deposit, drilling of multiple high-grade Carlin-type gold zones and the identification of numerous early-stage gold exploration targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC is well financed with approximately $20 million in its treasury.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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.