ATAC Resources Ltd.
TSX VENTURE : ATC

ATAC Resources Ltd.

December 15, 2010 08:30 ET

ATAC Resources Ltd. Intersects 32.64 Metres of 8.91 g/t Gold at the Tiger Zone-Rau Gold Project-Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2010) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report final 2010 drill results from the Tiger Zone on its wholly-owned Rau Gold Project in Central Yukon. The Tiger Zone is located 100 km west of ATAC's recent discovery of Carlin-type mineralization at the Osiris gold target within the Nadaleen Trend (see November 30, 2010 news release).

"The Tiger Zone infill drilling is very encouraging as it confirms the high-grade gold mineralization and excellent continuity of the near-surface, blanket-like oxide portion of the deposit," states Graham Downs, ATAC's CEO. "Drill hole density from this season's program will enable the Company to have an independent NI 43-101 compliant resource estimate on the Tiger Zone carried out. Completion of this estimate is anticipated in the third quarter of 2011."

Highlights from the Tiger Zone drilling include:

  • 5.57 g/t gold over 75.76 m starting at 12.02 m in hole Rau-10-94

  • 3.70 g/t gold over 82.30 m starting at 7.01 m in hole Rau-10-124

  • 8.91 g/t gold over 32.64 m starting at 29.87 m in hole Rau-10-132

Significant gold intercepts are tabulated below and a plan map of the drill holes can be viewed on the Company's website.

Hole ID Section East North Dip From (m) To (m) Int. (m) Au (g/t)
 
Rau-10-94* 10+200NW 528431 7119258 -61 12.02 87.78 75.76 5.57
incl.         14.63 37.49 22.86 13.88
 
Rau-10-109 10+300NW 528447 7119396 -60 135.60 150.47 14.87 2.35
 
Rau-10-111 10+300NW 528478 7119422 -60 155.59 186.93 31.34 1.10
 
Rau-10-112 10+300NW 528478 7119422 -60 189.89 202.47 12.58 1.74
 
Rau-10-114 10+375NW 528364 7119421 -60 122.13 134.35 12.22 4.96
 
Rau-10-116 10+275NW 528392 7119314 -60 57.30 104.55 47.25 3.73
incl.         66.45 95.40 28.95 5.71
 
Rau-10-117 09+965NW 528586 7119073 -60 87.48 114.91 27.43 3.98
 
Rau-10-118 10+275NW 528416 7119335 -60 106.07 127.41 21.34 2.70
 
Rau-10-119 09+965NW 528586 7119073 -73 121.01 136.25 15.24 2.05
 
Rau-10-120 10+225NW 528448 7119296 -60 63.09 131.23 68.14 2.30
incl.         64.62 92.05 27.43 3.78
 
Rau-10-121 10+225NW 528425 7119276 -60 78.64 87.78 9.14 2.83
                 
Rau-10-122 10+325NW 528359 7119352 -60 52.73 95.40 42.67 3.42
 
Rau-10-124 09+950NW 528536 7119010 -62 7.01 89.31 82.30 3.70
incl.         7.01 17.80 10.79 7.96
and         32.92 51.21 18.29 9.13
 
Rau-10-125 10+275NW 528368 7119292 -60 62.48 100.58 38.10 3.83
incl.         62.48 82.29 19.81 7.12
 
Rau-10-126 09+911NW 528535 7118958 -82 3.96 84.73 80.77 1.48
incl.         17.68 32.92 15.24 4.85
 
Rau-10-127 10+200NW 528409 7119230 -60 27.43 53.34 25.91 2.64
 
Rau-10-128 10+325NW 528337 7119333 -60 43.59 71.02 27.43 3.35
 
Rau-10-129 10+225NW 528402 7119257 -60 30.48 76.90 46.42 3.49
incl.         36.58 67.06 30.48 5.11
 
Rau-10-130 10+325NW 528311 7119312 -60 11.58 23.77 12.19 1.06
 
Rau-10-131 10+275NW 528343 7119272 -60 21.39 30.48 9.09 5.91
 
Rau-10-132 10+250NW 528367 7119259 -60 29.87 62.51 32.64 8.91
incl.         29.87 46.63 16.76 17.07
                 
Tabulated intervals are mineralized lengths of core. Mineralization is strata-controlled and, based on core axis to bedding angles, true widths are estimated to be 70 to 90% of the interval lengths.

A 40,000 m diamond drill program is currently proposed to test gold targets at the Rau Gold Project in 2011. 30,000 m of this drilling will be allocated to the recent Osiris area Carlin-type discoveries within the Nadaleen Trend, where highly anomalous Carlin-type pathfinder element anomalies delineate a 25 km long trend of prospective carbonate stratigraphy. The additional 10,000 m will be dedicated to five satellite oxide gold targets that have been discovered by prospecting and geochemical sampling within a five km distance of the Tiger Zone. Reconnaissance drilling on one of these targets (Cheetah) averaged 1.29 g/t gold over 16.90 m, starting at 104.90 m in hole CH-10-04. The true width of the mineralization in hole CH-10-04 is believed to represent approximately 60% of the reported interval.

A total of four reconnaissance diamond drill holes were also completed at the Ocelot silver/lead/zinc target located 15 km west of the Tiger Zone. All of these holes were collared to test geophysical anomalies near the Ocelot discovery showing. Hole OC-10-01 at the Ocelot target (OC-10-01) averaged 360 g/t silver, 9.83% lead, 25.06% zinc and 48.2 g/t indium over 4.23 m. The true width of the mineralization in hole OC-10-01 is not known at this time given the early stage of exploration. An early 2011 season diamond drill program is contemplated at the Ocelot to explore untested geophysical and geochemical anomalies that extend 1,300 m to the west and 500 m southeast of the discovery showing (see news release dated July 8, 2010 for more information on the Ocelot).

* Gold determinations for Rau-10-94 were carried out by SGS Canada Inc. (SGS) on whole oxide core samples in Lakefield, Ontario. The large diameter PQ-sized core was sent in whole to SGS for metallurgical tests. Samples were first air dried and crushed to nominally pass 1 ¼" mesh. Approximately ¾ of the crushed material was further crushed to 10 mesh, where 50 grams was riffled out for gold analysis. In addition, 20 samples were randomly selected for similar gold analysis. All gold analyses were conducted by 20 gram fire assay to extinction.

Gold determinations for all holes in this release other than Rau-10-94 were carried out at ALS Chemex in North Vancouver, B.C. where samples 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. 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.

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 purposes of National Instrument 43-101.

ATAC is a well funded junior mining company focused on precious metals. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC's 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 beyond its control, and actual results may differ materially from the expected results.

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.

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