ATAC Resources Ltd.

TSX VENTURE : ATC


ATAC Resources Ltd.

August 26, 2014 12:02 ET

ATAC Resources Intersects 30.79 m of 9.50 g/t Gold at Conrad, Rackla Gold Project-Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2014) - ATAC Resources Ltd. ("ATAC") (TSX VENTURE:ATC) is pleased to announce initial results from its ongoing 2014 exploration program. The following results are from drilling and surface work at the Conrad, Sunrise and Anubis Zones, all 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:

  • Conrad Lower Zone step out hole OS-14-277 extends high grade mineralization -
    30.79 m of 9.50 g/t gold;
  • Sunrise drilling extends mineralization to the west of 2013 drilling; and
  • Anubis area surface exploration outlines pathfinder element+gold anomalies with 8 km cumulative strike length, similar in size and intensity to the Osiris area located 10 km to the east.

Conrad Zone

Conrad Zone
Drill Hole
From (m) To
(m)
Interval (m) Au (g/t) Section
OS-14-227 434.12 438.52 4.40 5.50 C475E
and 452.80 483.59 30.79 9.50
The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 100% true widths.

Carlin-type gold mineralization at the Conrad Zone is contained within several structural and stratigraphic settings. In the Conrad Upper Zone, gold mineralization occurs in an anticline fold hinge. The Upper Zone has been continuously traced by shallow drilling over a strike length of 800 m between Sections C100E and C900E. A 2012 drill hole (hole OS-12-103) in the Upper Zone above hole OS-14-227 returned 46.06 m of 11.24 g/t gold.

Hole OS-14-227 is a step-out from previous holes that intersected the Conrad Lower Zone (see news release dated October 9, 2013). Mineralization at the Lower Zone is open in all directions and has only been traced with limited drilling over a 300 m strike length below the core area of the Upper Zone. The Lower Zone is characterized by strong alteration and mineralization localized within and adjacent to several flat-lying faults that may be primary mineralizing fluid conduits. Drilling is ongoing at the Conrad Zone.

"Step out hole OS-14-227 further demonstrates the continuity and high grade nature of the Conrad Zone which remains open in all directions. With only limited drilling having been completed at the Lower Zone, significant potential exists to find new areas of mineralization and to expand the Lower Zone and associated flat-lying mineralized fault breccias." stated Graham Downs, ATAC's CEO.

Sunrise Zone

Drilling in 2014 at the Sunrise Zone has successfully expanded the mineralized area to the west of two of the final 2013 holes that returned 19.81 m of 5.54 g/t gold (OS-13-214) and 16.76 m of 6.76 g/t gold (OS-13-217).

Sunrise Zone
Drill Hole
From (m) To
(m)
Interval (m) Au (g/t) Section
OS-14-225 190.50 206.35 15.85 2.03 S400E
and 319.13 331.32 12.19 3.09
including 319.13 321.16 2.03 9.54
OS-14-226 288.04 298.70 10.66 3.45 S500E
The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 100% true widths.
Hole OS-14-224 did not intersect significant mineralization.

The higher grade part of the Sunrise Zone is a 100 to 150 m long, steeply south dipping and southwest-plunging body of stratabound, structurally controlled Carlin-type gold mineralization that remains open at depth.

Anubis Zone and Area

The Anubis Zone is located 10 km to the west of the Osiris Zone in an area underlain by Paleozoic limestones, shales and calcareous siltstones cut by a network of regional-scale fault zones. Three holes were completed at the Anubis Zone in 2014 to follow-up on the 2012 discovery hole which intersected 8.51 m of 19.85 g/t gold (AN-12-001). Two of the 2014 holes intersected the Anubis Fault on strike to the northwest and southeast of the discovery hole, while the third hole tested the Anubis Fault at depth. None of the 2014 Anubis holes intersected significant gold mineralization or identified the source of mineralization in the three previous holes. Additional trenching, test pitting and prospecting are ongoing to better understand the Anubis discovery zone outcrop and drill intersections in relation to nearby untested gold geochemical anomalies.

Elsewhere along the Anubis Fault and the nearby sub-parallel North Fault, ongoing soil sampling, overburden drilling and excavator trenching has outlined a cumulative strike length of over 8 km of pathfinder element+gold geochemical anomalies, most of which are hosted in the favourable limestone units that underlie the Anubis shales. Results of this and earlier work in the area are being compiled to select targets for diamond drilling.

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 $21 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.

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