ATAC Resources Drills 19.85 g/t Gold Over 8.51 Metres at Its Newest Carlin-Type Gold Discovery Located 10 km West of Osiris
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/17/12 -- ATAC Resources Ltd. (TSX VENTURE: ATC) announces that it has made a major new Carlin-type gold discovery within the Nadaleen Trend on its 100% owned 185 km long Rackla Gold Project, Yukon. The discovery hole tested a prospecting find located approximately 10 km west of the Conrad, Osiris, Isis, Isis East gold zones in a new area not previously drill tested. This new gold zone has been named Anubis.
News release highlights:
-- First diamond drill hole at Anubis (AN-12-001) intersects 8.51 metres of
19.85 g/t gold;
-- Four surface outcrop grab samples above the discovery hole graded 139.0,
125.0, 122.0 and 84.2 g/t gold;
-- 1 km long gold-in-soil anomaly outlined along a well-defined regional-
scale northwest trending lineament in an area of poor bedrock exposure;
-- Hand pit profile samples 600 m northwest of AN-12-001 along the
lineament returned gold grades up to 5.59 g/t gold; and,
-- A hand pit grab sample taken from a parallel lineament and geochemical
anomaly 500 m northeast of the 1 km long gold-in-soil anomaly returned
0.88 g/t gold.
"The Anubis gold discovery is a major milestone for the company as it now confirms the district size potential of the 40 km long Nadaleen Trend, located at the east end of the 185 km long Rackla Gold Belt," states Graham Downs, ATAC's CEO. "We are very encouraged with these latest developments as they demonstrate the effectiveness of our property wide grass roots exploration program and the potential for multiple gold deposits throughout the trend."
The Anubis target area is underlain by a sequence of mid-Paleozoic carbonate rocks with interbedded calcareous siltstone and shale. This package of rocks is younger than those hosting Osiris, Isis and Conrad mineralization. Systematic grid soil sampling identified a 1 km long linear northwest trending gold-in-soil anomaly with intermittently coincident arsenic, antimony and mercury soil responses. The trace of the gold-in-soil anomaly coincides with a well-defined recessive regional-scale lineament interpreted to represent a steeply northeast dipping fault analogous to the structural setting of the Conrad Zone. Exposure along the Anubis structure is generally poor due to accumulations of talus, overburden and moderate elevation; however, prospecting at two sites in areas of relatively thin cover identified significant gold mineralization approximately 600 m apart.
The Anubis discovery outcrop consists of an outcrop exposure of highly fractured, strongly folded, silicified and decarbonatized sanded limestone breccia within a sequence of calcareous siltstone and shale. Four grab samples collected along the exposure returned 139.0 g/t gold, 125.0 g/t gold, 122.0 g/t gold and 84.2 g/t gold. One grab sample of less altered calcareous siltstone talus collected beneath the outcrop occurrence and along the slope returned 5.01 g/t gold. The first diamond drill hole at Anubis targeted the down-dip extension of this surface outcrop material and intersected 8.51 m of 19.85 g/t gold within a broader 20 m interval of alteration and elevated arsenic response. The significant diamond drill intervals and a breakdown of individual assays from AN-12-001 are tabulated below.
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From To Interval Au
Drill Hole (m) (m) (m) (g/t)
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AN-12-001 50.90 53.00 2.10 2.71
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and 63.09 71.60 8.51 19.85
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including 63.09 64.62 1.53 0.65
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64.62 66.14 1.52 3.50
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66.14 67.77 1.63 11.90
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67.77 68.36 0.59 47.60
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68.36 69.19 0.83 78.60
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69.19 70.71 1.52 24.10
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70.71 71.60 0.89 14.90
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- The reported intersection is drilled thickness and is believed to
represent approximately 85% true width.
Hand pits were excavated 600 m northwest of the Anubis discovery outcrop beneath a 134 ppb gold-in-soil sample site that occurs within the Anubis lineament. Four pits dug to depths of up to 2 m along an 18 m section perpendicular to the structural zone contained multi-color clay alteration and associated breccias. Samples of this material collected from pit profiles between 0.10 and 0.50 m thick yielded values ranging from 1.01 g/t gold to a maximum of 5.59 g/t gold. A location map for Anubis and drill core photos are available on ATAC's website.
Diamond drilling at Anubis is ongoing with two additional holes completed on section with AN-12-001 to test beneath the discovery intersection. Two holes will then be drilled 600 m to the northwest of the discovery intersection to test beneath the anomalous pits and, if time and weather permit, several drill holes will also test the parallel lineament/geochemical zone 500 m northeast of the Anubis structure. Three diamond drills continue to test the Conrad Zone 10 km to the east of the Anubis Zone. Results for all remaining holes will be announced as they are received and compiled.
To view figures on the Anubis discovery, please visit ATAC's website: www.atacresources.com.
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). Overlimit gold analyses were performed using the Au-GRA22 method that involves fire assay using a 50 gram charge and gravimetric finish.
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.
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