VANCOUVER, Nov. 28, 2017 /CNW/ - ATAC Resources Ltd.
(TSX-V:ATC) ("ATAC") is pleased to announce results for the final
11 diamond drill holes from the 2017 exploration program at its
100% owned Osiris Project at the Rackla Gold Property, Yukon. The Osiris Project is located outside
of the area currently under option to Barrick Gold Corporation.
Highlights
- Hole OS-17-257 from the Conrad Zone intersected 12.19 m
of 9.44 g/t gold in the 650 Fault corridor, a 75 m step-out
from hole OS-17-238 (12.50 m of 20.78 g/t gold);
- Hole OS-17-259 intersected 76.20 m of 3.54 g/t
gold and 25.91 m of 5.44 g/t gold within the
Conrad Upper Zone and 650 Fault corridor, respectively;
- Sunrise Zone extended to depth with the intersection of
13.68 m of 4.55 g/t gold in hole OS-17-254; and,
- Gold grade increased at depth within the northern part of the
Osiris Zone where hole OS-17-258 returned 16.46 m of 5.29 g/t
gold.
"The exceptional grades encountered in our 2017 step-out
drilling campaign have far exceeded this year's objectives and
continue to demonstrate the strength of the mineralizing system
within our 100% owned Osiris Project. All three zones will be a
focus for building ounces in our 2018 drill program as all zones
remain open for expansion," states ATAC's President and CEO,
Graham Downs. "Drill results from
the 650 Fault area at the Conrad Zone are particularly exciting as
many are near-surface and represent some of the highest grade
intersections recorded to date. The full extent of the gold
mineralization at the 650 Fault area is not yet known and remains
open for extension to the east and at depth."
Conrad Zone
In total, 15 holes (6,788 m) were drilled at Conrad in 2017 to
focus on cross-faults interpreted to be part of the hydrothermal
plumbing system that introduced gold mineralization into the Conrad
Zone. The 2017 drilling also targeted lateral and vertical
continuity between mineralization previously intersected by
widely-spaced holes at the Conrad Upper, Middle and Lower Zones.
The following table contains results from the final five 2017 drill
holes at the Conrad Zone.
Conrad Zone Diamond Drill Results
Target
Area
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Interval*
(m)
|
Gold
(g/t)
|
Gold**
(g x
m)
|
|
|
|
|
|
|
|
Lower Zone
|
OS-17-250
|
505.00
|
515.11
|
10.11
|
8.44
|
85
|
incl.
|
507.71
|
512.64
|
4.93
|
15.52
|
77
|
and
|
531.76
|
536.45
|
4.69
|
5.46
|
26
|
|
|
|
|
|
|
|
Middle
Zone
|
OS-17-253
|
580.64
|
601.98
|
21.34
|
1.76
|
38
|
|
|
|
|
|
|
|
650 Fault
|
OS-17-255
|
27.43
|
41.15
|
13.72
|
3.57
|
49
|
Upper Zone
|
and
|
123.44
|
145.00
|
21.56
|
9.33
|
201
|
incl.
|
124.97
|
135.87
|
10.90
|
14.57
|
159
|
|
|
|
|
|
|
|
650 Fault
|
OS-17-257
|
30.48
|
42.67
|
12.19
|
9.44
|
115
|
|
|
|
|
|
|
|
650 Fault
|
OS-17-259
|
57.91
|
83.82
|
25.91
|
5.44
|
141
|
incl.
|
67.06
|
83.82
|
16.76
|
7.40
|
124
|
Upper Zone
|
and
|
170.69
|
246.89
|
76.20
|
3.54
|
270
|
incl.
|
170.69
|
204.22
|
33.53
|
7.17
|
240
|
*
|
The reported
intersections are drilled thicknesses and are believed to represent
approximately 60 to 100% true widths.
|
**
|
Gram metres are
calculated by multiplying the gold grade (g/t) by the interval (m)
and rounding to the nearest integer.
|
Three of the last five 2017 holes drilled at Conrad were
designed to follow-up mineralization intersected in hole OS-17-238
which returned 12.50 m of 20.78 g/t gold. Holes OS-17-257
and OS-17-259 targeted the 650 Fault corridor at the structural
intersection with the Nadaleen Fault. These holes returned
high-grade gold intersections of 12.19 m of 9.44 g/t gold
and 25.91 m of 5.44 g/t gold, respectively, and to date are
the only drill holes that have tested this structural junction.
Holes OS-17-250, 253 and 255 were drilled as step-out holes from
previous drilling in the Upper, Middle and Lower mineralized zones
at Conrad. The high-grade 650 Fault corridor will be a priority for
continued follow-up drilling in 2018.
Sunrise Zone
The final three diamond drill holes completed at the Sunrise
Zone in 2017 are presented in the table below. A total of six holes
(1,886 m) were drilled at Sunrise in 2017 to test wide gaps between
previously drilled holes and to step-out at depth.
Sunrise Zone Diamond Drill Results
Drill
Hole
|
From
(m)
|
To
(m)
|
Interval*
(m)
|
Gold
(g/t)
|
Gold**
(g x
m)
|
|
|
|
|
|
|
OS-17-251
|
168.46
|
174.35
|
5.89
|
3.76
|
22
|
incl.
|
168.46
|
169.58
|
1.12
|
12.80
|
14
|
|
|
|
|
|
|
OS-17-252
|
192.63
|
196.54
|
3.91
|
8.39
|
33
|
incl.
|
195.39
|
196.54
|
1.15
|
19.15
|
22
|
|
|
|
|
|
|
OS-17-254
|
322.64
|
328.57
|
5.93
|
4.50
|
27
|
incl.
|
322.64
|
325.53
|
2.89
|
7.88
|
23
|
and
|
368.20
|
381.88
|
13.68
|
4.55
|
62
|
incl.
|
374.29
|
376.96
|
2.67
|
15.50
|
41
|
*
|
The reported
intersections are drilled thicknesses and are believed to represent
approximately 50 to 70% true widths.
|
**
|
Gram metres are
calculated by multiplying the gold grade (g/t) by the interval (m)
and rounding
to the nearest integer.
|
Hole OS-17-254 returned two intervals of high-grade gold
mineralization including 5.93 m of 4.50 g/t gold and
13.68 m of 4.55 g/t gold. These results are
consistent with hole
OS-17-249 located 100 m to the east which returned 10.42 m
of 7.97 g/t gold and 15.24 m of 13.52 g/t gold
(see ATAC news release dated October 10,
2017). Both of these holes show a bifurcation of the
mineralized zone and an elevated gold grade with depth. This area
will be a focus of drilling in 2018.
OS-17-251 and 252 were drilled to enhance the continuity of the
shallower drilling previously targeted at the Sunrise Zone. The
Sunrise Zone remains open along strike and at
depth.
Osiris Zone
A total of eight holes (2,540 m) were drilled at the Osiris Zone
in 2017 to confirm the continuity of the mineralizing system to the
north where wide-spaced drilling in 2011 initially identified the
mineralizing trends. Results of the final three diamond drill
holes completed at the Osiris Zone are presented in the table
below.
Osiris Zone Diamond Drill Results
Drill
Hole
|
From
(m)
|
To
(m)
|
Interval*
(m)
|
Gold
(g/t)
|
Gold**
(g x
m)
|
|
|
|
|
|
|
OS-17-256
|
133.43
|
147.86
|
14.43
|
2.45
|
35
|
|
|
|
|
|
|
OS-17-258
|
271.88
|
288.34
|
16.46
|
5.29
|
87
|
incl.
|
277.98
|
285.29
|
7.31
|
7.41
|
54
|
|
|
|
|
|
|
OS-17-260
|
46.19
|
58.82
|
12.63
|
1.76
|
22
|
*
|
The reported
intersections are drilled thicknesses and are believed to represent
approximately 70 to 100% true widths.
|
**
|
Gram metres are
calculated by multiplying the gold grade (g/t) by the interval (m)
and rounding
to the nearest integer.
|
Mineralization in hole OS-17-258 returned 16.46 m of
5.29 g/t gold associated with a fine crackle brecciation of
the host Osiris limestone unit. This intersection is the deepest
test of the Osiris Zone, which has been traced over an
approximately 900 m unfolded strike length and vertically over 450
m, from the top of hole OS-11-049 on the ridge crest to the deepest
intersection in OS-17-258 in the valley floor. The Osiris Zone will
be a focus of continued systematic step-out drilling in
2018.
"The 2017 diamond drill program at Osiris was our first
substantial follow-up from mineralization delineated in the
northern part of the zone in 2011," states Julia Lane, Vice President of Exploration for
ATAC. "Our results from both Osiris and Sunrise continue to
highlight the continuity of these zones and their potential for
extension at depth."
Technical information including cross-sections and plan maps for
the Conrad, Osiris and Sunrise Zones, can be found on ATAC's
website at www.atacresources.com and at Corebox.
To view the cross-sections and figures in PDF form, please use
the following links:
Conrad Zone Plan Map
http://www.atacresources.com/assets/img/maps/2017-11-28-nrm1-atc-9agrmd.pdf
Sunrise Zone Plan Map
http://www.atacresources.com/assets/img/maps/2017-11-28-nrm2-atc-9agrmd.pdf
Sunrise Zone Cross Section
480E
http://www.atacresources.com/assets/img/maps/2017-11-28-nrm3-atc-9agrmd.pdf
Osiris Zone Plan Map
http://www.atacresources.com/assets/img/maps/2017-11-28-nrm4-atc-9agrmd.pdf
Osiris Zone Cross Section
2480N
http://www.atacresources.com/assets/img/maps/2017-11-28-nrm5-atc-9agrmd.pdf
The technical information in this news release has been approved
by Julia Lane, P.Geo., Vice
President of Exploration for ATAC and a qualified person for the
purposes of National Instrument 43-101.
QA/QC
All drill core assaying was completed by ALS Canada Ltd. All
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. Pulps were then
analyzed at ALS 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-AA25 procedure
that involves fire assay preparation using a 30 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 of diamond drill samples to ensure integrity of the assay
process. All diamond drill samples included in this news release
have passed the QA/QC procedures as described above. All assay
intervals presented in this news release are uncut.
About ATAC
ATAC is a Yukon-based
exploration company focused on developing Canada's only known Carlin-type gold district
at the Rackla Gold Property. Recent work on the ~1,700
km2 property has resulted in a positive Preliminary
Economic Assessment for the Tiger Gold Deposit, drilling of
multiple high-grade Carlin-type gold zones and the identification
of numerous early-stage gold exploration targets. ATAC and Barrick
Gold Corporation recently partnered to explore the Rackla Gold
Property's Orion Project, with Barrick having the option to earn up
to 70% of Orion by spending $55
million in exploration. ATAC is well-financed with
approximately $13 million in its
treasury and recently completed an approximately $10 million exploration program at the Osiris and
Rau Projects (which are not subject to Barrick's earn-in right),
while concurrently working with Barrick to advance the Orion
Project.
On behalf of Management and the Board of Directors
of ATAC Resources Ltd.
Graham Downs, President and
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 NEWS RELEASE.
SOURCE ATAC Resources Ltd.