ATAC Resources Extends Strike Length of Gold Mineralization at Conrad Zone to 400 Metres and Intersects Multiple Zones of High-Grade Gold Mineralization
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/03/11 -- ATAC Resources Ltd. (TSX VENTURE: ATC) is pleased to provide the following drilling and exploration update for its 100% owned 1,600 sq/km Rackla Gold Project in central Yukon.
News release highlights:
-- Conrad Zone extended to 400 metre strike length and remains open in all
directions;
-- Diamond drilling confirms gold mineralization at the Conrad and Eaton
Zones coalesce into a larger Conrad Zone;
-- Total vertical extent of drilled gold mineralization between Conrad and
Osiris is now in excess of 1 km;
-- Six diamond drills will continue exploring Osiris, Conrad, Isis and Isis
East into mid-October;
-- Surface orpiment and realgar showings have been identified at Dale and
Pyramid Zones located 12 km and 24 km west of the Osiris Zone, and the
Ptah Zone located 1.25 km northwest of the Conrad Zone; and,
-- 15 of 19 released drill holes at Conrad have intersected significant
widths of gold mineralization in excess of 3 g/t gold.
Conrad Zone
ATAC has received results for 16 diamond drill holes from the Conrad Zone. The Conrad Zone is one of four Carlin-type gold exploration targets being explored by diamond drilling within an eight sq/km area of the Nadaleen Trend, at the eastern end of the 185 km long Rackla Gold Project.
Recent Conrad Zone drilling has intersected 4.08 g/t gold over 82.29 m in Hole OS-11-010 (see news release dated July 06, 2011). Exploration at Conrad focused on extending gold mineralization towards the Eaton Zone approximately 400 m to the southeast of OS-11-010. Mineralization was intersected on every section line between Conrad and Eaton resulting in the coalescing of both zones into a larger Conrad Zone. Mineralization remains open at depth and in all directions. Significant results from the Conrad Zone are tabulated below.
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Cross
Drill Hole Section From (m) To (m) Interval (m) Au (g/t) Comments
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OS-11-013 0450E 278.00 281.00 3.00 3.18 Nadaleen Fault
splay(?)
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OS-11-014 0300E 86.87 99.06 12.19 10.54 Nadaleen Fault
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incl. 89.92 96.01 6.09 20.55
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OS-11-016 0450E 109.40 197.20 87.80 2.84 Conrad Zone
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incl. 148.00 181.00 33.00 5.36
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incl. 169.85 179.15 9.30 14.40
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and 212.50 237.74 25.24 2.86 Conrad Zone
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incl. 212.50 217.10 4.60 9.41
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OS-11-017 0300E 88.39 100.58 12.19 2.61 Nadaleen Fault
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incl. 94.49 100.58 6.09 4.40
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OS-11-019 0500E 143.26 207.26 64.00 1.61 Conrad Zone,
stopped short
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incl. 188.98 198.12 9.14 3.43
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OS-11-025 0500E 198.12 210.31 12.19 2.01 Nadaleen Fault,
stopped short of
Conrad Zone
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incl. 205.60 209.20 3.60 5.20
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OS-11-030 0400E 179.83 252.98 73.15 3.05 Conrad Zone
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incl. 219.26 234.70 15.44 8.40
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and 304.80 343.20 38.40 4.31 Conrad Zone
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incl. 312.00 322.08 10.08 10.53
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incl. 333.50 343.20 9.70 5.34
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OS-11-036 0400E 568.45 576.70 8.25 3.72 Conrad Zone
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and 687.32 708.66 21.34 8.06 Conrad Zone
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incl. 691.69 704.20 12.51 12.61
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incl. 696.47 704.20 7.73 17.23
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OS-11-042 0350E 144.00 155.45 11.45 2.83 Nadaleen Fault
splay
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and 197.05 207.26 10.21 2.54 Conrad Zone
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and 216.41 222.50 6.09 5.19 Conrad Zone
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and 295.66 300.60 4.94 3.61 Conrad Zone
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OS-11-045 0350E 177.80 182.88 5.08 3.12 Nadaleen Fault
splay(?)
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301.75 313.94 12.19 2.95 Conrad Zone
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OS-11-050 0550E 86.87 137.16 50.29 2.11 Conrad Zone
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incl. 96.01 103.63 7.62 5.50
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and 437.39 460.40 23.01 5.51 Conrad Zone
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OS-11-051 0650E 259.99 275.23 15.24 6.92 Nadaleen Fault
splay
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incl. 261.00 272.19 11.19 9.17
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and 403.25 421.54 18.29 3.73 Conrad Zone
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incl. 406.30 415.44 9.14 6.95
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OS-11-054 0550E 125.55 137.16 11.61 5.90 Nadaleen Fault
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incl. 125.55 131.06 5.51 11.37
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and 420.00 429.77 9.77 9.83 Conrad Zone
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incl. 423.67 428.10 4.43 17.68
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and 509.02 519.89 10.87 2.50 Conrad Zone
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-- The reported intersections are drilled thicknesses and are believed to
represent approximately 50 to 80% true widths.
-- Holes OS-11-021,022,027 did not intersect significant mineralization a
s
they are interpreted to have been drilled north of the Conrad Zone
The Conrad Zone is east-west trending and dips steeply to the south. It cross-cuts folded and faulted limestone units interbedded with non-calcareous clastic sedimentary rocks. Gold mineralization occurs within all units but is best developed within the limestone sequences where alteration is characterized by decalcification along intermittent shear planes accompanied by peripheral calcite flooding. Mineralization within non-calcareous rocks is generally confined to fault breccias or areas of abundant fracturing. Gold mineralization is most commonly associated with black, fine grained sooty pyrite, and is sometimes accompanied by realgar, a distinctive red arsenic sulphide mineral.
The Conrad Zone occurs south of the north-dipping Nadaleen thrust fault. Splays of the Nadaleen fault and sections of the fault itself are also locally mineralized. The Conrad Zone is characterized at surface by a northwest trending zone of highly anomalous arsenic soil geochemistry. This anomaly extends at least 1.25 km to the northwest where trenching has uncovered realgar mineralization at the newly discovered Ptah Zone.
The Ptah Zone is interpreted as a 'leakage' anomaly north of the Nadaleen fault where favourable carbonate stratigraphy similar to Conrad may occur at depth. The gold potential of the Ptah Zone has not yet been drill tested. Updated Conrad Zone maps, cross-sections and figures can be viewed on ATAC's website www.atacresources.com.
Regional Exploration
Reconnaissance geochemical surveys along the 185 km long Rackla Gold Project have collected over 10,500 stream sediment and soil samples. Stream sediment sampling targeted over 90% of the project's creeks and streams while soil sampling surveys consisting of ridge and spur, contour and grid sampling were carried out to follow up 2010 and 2011 anomalies. Geochemical results continue to be received and evaluated.
Follow-up prospecting at two arsenic, thallium, mercury and antimony soil geochemical anomalies named Dale and Pyramid, located 12 km and 24 km to the west of the Osiris Zone, resulted in the discovery of orpiment and realgar mineralization at surface. A diamond drill was mobilized to both targets. Two scout holes were completed at the Dale target and five at the Pyramid target. Assay results for the seven holes are pending.
Drilling Progress
A total of six diamond drills continue to work within the Nadaleen Trend. Three drills are focused on extending gold mineralization at the Conrad Zone, two drills are testing the Osiris Zone and the sixth drill is testing the Isis Zone. The 2011 drilling completed as of the time of this news release consists of 28 holes at the Conrad Zone for a total of 11,392 m, 25 holes at the Osiris Zone for a total of 5,762 m, and 7 at the Isis and Isis East zones for a total of 1,481 m. In addition, eight scout holes have been drilled to test other targets in the area. Drilling will continue at Osiris, Osiris North and Conrad Zones until mid-October.
Assay turnaround times for core samples have been slow because of the current high level of western Canadian exploration activity. The Company now expects to receive assay results on a timelier basis. Assays for all pending drill holes will be released when results are received and compiled. Osiris Zone drill results are expected in the coming weeks.
'We are very pleased with the progress at the Conrad Zone,' states Graham Downs, ATAC's CEO. 'The coalescing of the Conrad Zone and Eaton Zone coupled with the 1 km vertical extent of gold mineralization identified to date indicates a large mineralizing system in this area of the Nadaleen Trend.'
QA/QC
Samples were forwarded to ALS Minerals in Whitehorse, Y.T. or North Vancouver, B.C. 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 where gold determinations were carried out and splits of the pulverized fraction were routinely dissolved in aqua regia and 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 fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Mercury analyses are performed using atomic absorption spectroscopy (AAS).
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.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purpose of National Instrument 43-101.
About ATAC
ATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold discovery at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO, ATAC Resources Ltd.
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.
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.
Contacts:
ATAC Resources Ltd.
Vanessa Pickering
Corporate Communications
604-687-2522 ext. 60
vpickering@nordacres.com
www.atacresources.com