ATAC Resources Ltd. Intersects 42.93 m of 18.44 g/t Gold at its Rackla Gold Project-Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/21/12 -- ATAC Resources Ltd. (TSX VENTURE: ATC) is pleased to report results of twenty-three diamond drill holes completed at the Conrad and Isis East Zones within the Nadaleen Trend, at the eastern end of its 100% owned 1,600 sq/km Rackla Gold Project in central Yukon.
Drill results highlights:
-- Conrad Zone
-- 42.93 m grading 18.44 g/t gold in hole OS-12-114
(most significant gold intersection to date)
-- 56.93 m grading 4.68 g/t gold in hole OS-12-116
-- 25.44 m grading 4.45 g/t gold in hole OS-12-105
-- Isis East Zone
-- 27.43 m grading 6.28 g/t gold in hole OS-12-120
"Drilling continues to expand and confirm continuity of gold mineralization in the high grade near-surface area of the Conrad Zone discovery," states Graham Downs, ATAC's CEO. "Four drills are testing for expansion of the zone along strike to the east and west. Two additional drills continue to evaluate other targets within the Nadaleen Trend."
Conrad Zone
The Conrad Zone is one of five areas of Carlin-type gold mineralization located within a 3 by 4 km area in the Nadaleen Trend.
Mineralization at the Conrad Zone is contained within several structural and stratigraphic settings. Geological modelling of wide-spaced 2011 drill holes identified a large-scale anticline fold as the highest priority exploration target. Characteristic Carlin-type hydrothermal alteration, consisting of decalcification and silicification accompanied by the arsenic sulphide mineral realgar, is focused along the contact of limestone with an overlying shaly siltstone cap unit in the crest of the anticline. Infill drilling in 2012 along this 100 m wide corridor is defining at or near-surface mineralization of consistently greater thickness with higher gold grades than encountered by previous widely spaced holes.
Hole OS-12-114 (see table below) intersected 42.93 m of 18.44 g/t gold in the anticline crest. Previously released 2012 Conrad Zone intersections in the anticline crest include 46.06 m of 11.24 g/t gold (OS-12-103) and 40.30 m of 10.10 g/t gold (OS-12-098) (see news release dated July 18, 2012). Drilling at 50 m spacing has been completed along the crest of the anticline for a distance of 300 m. The overall strike length of the Conrad Zone is 475 m based on previous drilling. The plunging of the anticline axis and crest at both ends of the Conrad Zone leave it open to extension to the east and west. The potential strike extensions of the mineralized anticline will be drill tested during the remainder of the 2012 drilling season.
Gold bearing solution collapse breccias also occur deeper in the Conrad limestone, below the gold enriched anticline cap, at the intersection of a flat-lying fault zone with a near vertical fracture system. Hole OS-12-116 (see table below) intersected 56.93 m of 4.68 g/t gold on section C650E in this deeper part of the system. Drilling on adjacent sections has intersected similar alteration, suggesting that this lower zone may be more laterally continuous than wide-spaced drilling in 2011 had indicated. Assay results from the deeper zone are pending.
Conrad Zone drill hole cross-sections and a plan view map can be viewed on the Company's website at www.atacresources.com. Significant new results for the Conrad Zone drilling are tabulated below.
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Cross
Drill Hole Section From (m) To (m) Interval (m) Au (g/t)
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OS-12-105 C250E 253.45 278.89 25.44 4.45
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including 259.45 275.84 16.39 6.20
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OS-12-108 C550E 48.56 56.53 7.97 3.48
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and 71.83 93.88 22.05 2.84
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and 109.12 118.26 9.14 3.10
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and 125.19 142.65 17.46 2.86
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and 172.22 206.42 34.20 2.24
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OS-12-112 C250E 145.70 160.93 15.23 3.04
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OS-12-114 C400E 3.71 13.88 10.17 1.86
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and 66.19 109.12 42.93 18.44
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including 84.73 101.46 16.73 30.85
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OS-12-116 C650E 202.08 214.27 12.19 4.64
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and 256.95 313.88 56.93 4.68
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including 266.09 281.33 15.24 8.89
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and 324.00 351.43 27.43 4.09
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OS-12-117 C350E 315.97 338.63 22.66 5.98
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including 317.62 323.39 5.77 11.27
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OS-12-119 C650E 500.70 510.37 9.67 4.59
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OS-12-121 C400E 77.11 87.78 10.67 2.36
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OS-12-123 C400E 78.64 107.59 28.95 2.12
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including 91.80 101.50 9.70 4.26
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OS-12-128 C550E 115.21 141.12 25.91 3.05
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-- The reported intersections are drilled thicknesses and are believed to
represent approximately 50 to 80% true widths.
-- Holes OS-12-100, 102, 106, 109, 113, and 129 did not intersect
significant mineralization.
Isis East Zone
The Isis East Zone lies along the southern edge of the 3 by 4 km mineralized area, about 1.5 km southwest of the Conrad Zone. Gold mineralization here is stratabound and is localized in a southerly plunging anticline, at or near the contact of dolostone with underlying silty limestone. The axial crest of the anticline contains the widest and best mineralized intervals. A plan view map showing drill hole traces and the surface projections of the mineralized intervals can be viewed at www.atacresources.com. Significant results for the Isis East Zone are tabulated below.
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Drill Hole From (m) To (m) Interval (m) Au (g/t)
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OS-12-104 232.26 241.40 9.14 1.19
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OS-12-107 51.82 96.01 44.19 1.20
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OS-12-120 106.07 133.50 27.43 6.28
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including 121.85 130.45 8.60 11.81
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-- The reported intersections are drilled thicknesses and are believed to
represent approximately 60 to 80% true widths.
-- Hole OS-12-099, 111, 115 and 122 did not intersect significant
mineralization.
Regional Exploration
In-fill stream sediment sampling and soil geochemical surveys have been completed on the 185 km long Rackla Gold property. Exploration of the belt as well as grid soil sampling of priority areas of interest generated from earlier reconnaissance work is ongoing. Several new anomalies that are prospective for gold and/or Carlin-type pathfinder elements are at the drill-ready stage. Prospecting crews are field-checking these anomalies in advance of drilling.
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 approved by Robert C. Carne, M.Sc., P.Geo., the President of ATAC Resources Ltd. and 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.
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 news release.
Contacts:
ATAC Resources Ltd.
Vanessa Pickering
Manager, Corporate Communications
604-687-2522 ext. 260
vpickering@nordacres.com