ATAC Resources Ltd. Intersects 46.06 m of 11.24 g/t Gold and 40.30 m of 10.10 g/t Gold at the Conrad Zone and Extends Isis East Discovery with 24.39 m of 5.58 g/t Gold and 54.63 m of 2.31 g/t Gold at its Rackla Gold Project -- Yukon
July 18, 2012 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) is pleased to report the first ten diamond drill hole results of 2012 from the Conrad and Isis East Zones within the Nadaleen Trend at the eastern end of its 100% owned 1,600 sq/km Rackla Gold Project in central Yukon.
- Highest grade gold intersection to date at the Conrad Zone with 46.06 m grading 11.24 g/t gold in hole OS-12-103.
- Isis East discovery extended with step-out holes along a 200 m strike length to a depth of 225 m in the crest of an anticlinal fold.
- Six drills are operating and 15,000 m in 58 holes have been drilled since the May 22 program start with 4 drills currently on Conrad, and 2 on the Osiris Zone.
"We are very pleased with the developing continuity and the high-grade nature of the first 2012 drill-holes at the Conrad Zone. Holes OS-12-98 and OS-12-103 intersected mineralization near surface with the highest grade intervals that we have encountered to date" states Graham Downs, ATAC's CEO. "The fact that we have also extended gold mineralization at Isis East by stepping-out from the 2011 discovery holes is also encouraging and drilling continues to test for further down-dip and strike extensions."
Five Carlin-type gold exploration targets were outlined in 2011 by wide-spaced diamond drilling within a 3 by 4 km area in the Nadaleen Trend. The 2012 drill program will expand and better define those known areas of mineralization, as well as test a number of undrilled geochemical anomalies.
The Conrad Zone has a current strike length of approximately 475 m and extends 490 m below surface. The zone remains open in all directions. Some of the best grades and longest intersections from previous drilling are located at a shallow depth in the crest area of an anticlinal fold at or near the contact of relatively impermeable silty shale with an underlying limestone unit. The potential for additional deep high-grade gold mineralization as encountered in hole OS-11-036 (8.06 g/t gold over 21.34 m starting from 687.32 m down hole) will also be systematically tested in 2012. Drill hole cross-sections and a plan-view map can be viewed on the Company's website at www.atacresources.com. Significant results for the first five 2012 Conrad holes received to date are tabulated below.
- The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 80% true widths.
- Holes OS-12-092 and OS-12-093 were drilled beneath the known zone and did not intersect significant mineralization.
Holes OS-12-098 and OS-12-103 intersected the near surface anticlinal crest while the others tested the Conrad Zone at depth. The anticlinal crest intersections, while wide, are consistently mineralized internally from assay interval to assay interval due to the fine-grained and finely dispersed nature of the mineralization.
Isis East Zone
The Isis East Zone lies along the southern edge of the 3 km by 4 km mineralized area. As with the Conrad Zone and the Osiris Zone that lies immediately to the north, gold mineralization is stratabound and localized in the crest area of an anticlinal fold - in this case at or near the contact of relatively impermeable dolomite altered limestone with underlying unaltered silty limestone. Mineralization has been intersected over an unfolded strike length of 200 m to the current maximum depth of 225 m below surface. The mineralized band remains open to expansion to the east and to depth with further drill testing to be completed in 2012. A plan view map showing drill traces and the projections of mineralized intervals can be viewed at www.atacresources.com. Significant results for Isis East are tabulated below.
- The reported intersections are drilled thicknesses and are believed to represent approximately 50 to 80% true widths.
- Hole OS-12-96 did not intersect significant mineralization
- *Previously reported intersections.
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).
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.
To view the entire press release follow the link below:
July 18, 2012 (Source: ATAC Resources Ltd.)
Disclosure: ATAC Resource Ltd. is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team are actively accumulating and hold long positions in ATC.V.