VANCOUVER, July 17, 2018 /CNW/ - ATAC Resources Ltd.
(TSX-V:ATC) ("ATAC") is pleased to announce results of the first
three holes drilled from the Conrad Deposit step-out diamond
drilling program within the Osiris Project, located at its Rackla
Gold Property, Yukon.
Highlights
- New near-surface mineralization discovered
90 m to the east of the
recently modeled Conrad resource boundaries;
- Hole OS-18-262 extends the Conrad Middle Zone
mineralization 90 m to the east with
an intersection of 23.59 m of 9.50
g/t gold; and,
- Expansion drilling continues at Conrad, which remains open
in all directions.
Conrad Deposit Diamond Drill Results
Target
Area
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Interval**
(m)
|
Gold
(g/t)
|
Gold***
(g/t x
m)
|
|
650-850
Fault
|
OS-18-261*
|
32.31
|
35.36
|
3.05
|
10.50
|
32
|
|
650-850
Fault
|
OS-18-262
|
3.05
|
21.34
|
18.29
|
1.74
|
32
|
650-850
Fault
|
and
|
66.11
|
80.00
|
13.89
|
4.14
|
58
|
Middle
Zone
|
and
|
363.71
|
387.30
|
23.59
|
9.50
|
224
|
Middle
Zone
|
incl.
|
379.80
|
387.30
|
7.50
|
22.87
|
172
|
|
650-850
Fault
|
OS-18-263
|
19.81
|
83.82
|
64.01
|
1.55
|
99
|
650-850
Fault
|
and
|
309.37
|
321.56
|
12.19
|
5.27
|
64
|
*
|
Hole OS-18-261
abandoned short of target at 47.65 m due to drill-pad
complications.
|
**
|
The reported
intersections are drilled thicknesses and are believed to represent
approximately 50-80% true widths.
|
***
|
Gram metres
calculated by multiplying the interval by the g/t gold assay and
rounded to the nearest integer.
|
"With our maiden resource in hand, we are very pleased to
establish the expansion potential at the eastern end of the Conrad
Deposit. The first three holes confirm that exceptional grades
continue along strike at the Middle Zone and identify a
predictable, easterly trending zone of near-surface mineralization
within and adjacent to the eastern end of the resource open pit,"
commented Julia Lane, ATAC's VP of
Exploration. "Two drills continue to focus on extending
mineralization at both Conrad and Sunrise, while three additional
drills continue to target gold mineralization on the Orion
Project."
Conrad Deposit
Drilling at the Conrad Deposit was initiated to expand upon
ATAC's recently announced maiden Mineral Resource. The initial 2018
phase of drilling targeted the 650-850 fault corridor where
structurally controlled high-grade gold, associated with brittle
faulting, was identified in a siliciclastic unit that returned
values including 12.50 m of 20.78
g/t gold in OS-17-238.
Hole OS-18-262 stepped out 40
m east of OS-17-238 and intersected two zones of
near-surface gold mineralization associated with the 650-850 fault
corridor. This hole intersected 18.29
m of 1.74 g/t gold starting at the bedrock
surface, with an additional zone returning 13.89 m of 4.14 g/t gold from 66 metres down
hole.
High-grade, strata controlled limestone hosted mineralization
was also intersected in OS-18-262 at depth and along strike from
the Middle Zone, returning 23.59 m
of 9.50 g/t gold (including 7.50 m of
22.87 g/t gold). This interval is located near the contact with
the siliciclastic unit. All three intersections within
OS-18-262 occurred outside the boundary of the Conrad Mineral
Resource.
Holes OS-18-261 and OS-18-263 stepped out 45 and
100 m east of OS-17-257,
respectively. Both holes were drilled to test the eastward
extension of near-surface mineralization intersected in OS-17-257
(12.19 m of 9.44 g/t gold) and
OS-17-259 (25.91 m of 5.44 g/t
gold).
OS-18-261 intersected 3.05 m of
10.50 g/t before it was abandoned short at 47.65 m, short of its target, due to drill-pad
complications. The target area of this hole has been re-drilled and
results are pending.
OS-18-263 intersected a broad zone returning
64.01 m of 1.55 g/t gold
located 90 m to the east of the
Conrad resource boundaries. This intersection is along trend of
mineralization in holes OS-17-257, OS-17-259 and OS-18-261. The
result confirms a continuous trend of near-surface mineralization
that remains open on the eastern side of the Conrad Deposit. Hole
OS-18-263 also intersected a deeper zone consisting of
12.19 m of 5.27 g/t gold
within a fault bounded slice of limestone.
Diamond drilling of the Conrad Deposit and the Sunrise Deposit
is ongoing. Please see ATAC's website www.atacresources.com for
updated Conrad Deposit figures.
At the time of this release, approximately 3,800 m of diamond drilling has been completed at
the Osiris Project. Additional results from the program will be
released when available.
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
Diamond drill 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. 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 four 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.
About ATAC
ATAC is a Yukon-based
exploration company focused on developing Canada's only Carlin-type gold district at the
Rackla Gold Property. Work on the ~1,700 km2 property
has resulted in an Osiris Project Inferred Mineral Resource of
1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt)
and a positive Preliminary Economic Assessment for the Tiger Gold
Deposit. ATAC and Barrick have 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 $18 million in its
treasury and is currently completing a $7
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.