ATAC Resources Ltd. Announces the Commencement of its 2012 Exploration and Drilling Program at its Rackla Gold Project, Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/15/12 -- ATAC Resources Ltd. (TSX VENTURE: ATC) ("ATAC") is pleased to announce that it has begun phase one of a two phase exploration and drilling program at its 100% owned, 1,600 sq/km Rackla Gold Project, which hosts Canada's only Carlin-Type gold discoveries.
Diamond drilling has commenced with one drill on the Isis East Zone, ramping up to three drills there within the month. Drilling at Isis East will continue testing a 450 metre gold in soil geochemical anomaly where initial drilling last year intersected strong Carlin-type gold mineralization of 3.33 g/t gold over 38.10 m (OS-11-040) and 3.13 g/t gold over 51.82 m (OS-11-073).
An additional two diamond drills will begin expanding the Conrad Zone within the week. The Conrad Zone is characterized by multiple stacked, continuous tabular zones of Carlin-type gold mineralization related to the nearby Nadaleen feeder fault system. It has a current drill confirmed strike length of 475 m and has been explored to a depth of 490 m. Significant Conrad results from 2011 include 82.29 m grading 4.08 g/t gold (OS-11-010) and 41.15 m grading 7.33 g/t gold (OS-11-058).
A sixth diamond drill will focus on the Osiris Zone to the north, exploring towards the intersection of the Nadaleen feeder fault system and the Osiris limestone unit. Highlights from 2011 drilling at the Osiris Zone include 32.01 m grading 4.25 g/t gold (OS-11-031) and 26.12 m grading 6.08 g/t gold (OS-11-055).
All the gold zones identified to date are distinct and each has the potential for significant expansion. Given their proximity to each other, they demonstrate the gold endowment potential characteristic of Carlin-type deposits.
Regional Exploration
Auger drilling commenced mid-April at the Pyramid Target which is located 20 km west of the Osiris Zone within the Nadaleen Trend. It is one of over fifteen early-stage gold targets that were identified in 2011. The Pyramid Target is defined by an extensive glacially dispersed orpiment/realgar (arsenic sulphides) cobble field measuring 150 by 80 m that lies within a larger 500 by 200 m arsenic/thallium soil anomaly. Arsenic sulphides and thallium are strong gold pathfinder elements similar to those found at the Conrad, Osiris, Isis and Isis East Zones. Approximately 60 auger holes will be drilled through glacially transported overburden to vector in on the bedrock source of the cobble field float train. Follow up diamond drilling at the Pyramid Target will take place in 2012. Please visit our website for maps and figures on the Pyramid Target.
2012 Exploration Program
-- 15,000 metres of diamond drilling in phase one, with the majority of
drilling to be focused on the Nadaleen Trend where four priority zones
of Carlin-Type gold mineralization have been confirmed to date - Conrad,
Osiris, Isis and Isis East;
-- Expansion and definition diamond drilling of the Conrad, Osiris, Isis
and Isis East Zones;
-- Scout drill testing of structural targets along the Nadaleen feeder
fault and other structures that exhibit surface pathfinder element
signatures to evaluate "leakage anomalies" for potential mineralization
at depth;
-- Continued auger drilling at the Pyramid target to identify the bedrock
source of a 500 by 200 m gold pathfinder arsenic/thallium soil
geochemical anomaly coincident with abundant orpiment and realgar
cobbles and boulders in glacial till;
-- Geophysical surveys on the Ocelot silver-lead-zinc discovery within the
Rau Trend; and,
-- Follow up prospecting, geological mapping and detailed soil sampling of
15 high priority gold and pathfinder geochemical anomalies identified in
2011 along the 185 km long Rackla Gold Project claim block.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purposes 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 discoveries 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
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
Manager, Corporate Communications
604-687-2522 ext. 260
vpickering@nordacres.com
www.atacresources.com