ATAC Discovers Third Area with Carlin-Type Mineralization 13 km Northeast of Conrad - Rackla Gold Belt, Yukon
- 79.40 g/t gold collected from subcropping quartz veins with visible gold occurring along stylolitic fractures;
- Limonitic quartz vein talus grab samples returning up to 49.60 g/t gold;
- Outcropping silicified breccias mineralized with Carlin-type indicator minerals realgar, cinnabar and stibnite;
- Strongly anomalous antimony-arsenic-gold soil geochemical responses intermittently along a 6 km strike length; and
- 206 additional claims staked to cover anomalous drainage basins northwest of the Pharaoh target.
The Pharaoh target is located 13 km northeast of the Conrad Zone and expands the area of gold discoveries to over 55 sq/km. Pharaoh was initially identified in 2011 as a mercury stream sediment anomaly. Follow up prospecting in 2012 resulted in the discovery of mineralization in several areas within the anomalous drainage basin. The area is underlain by carbonate and calcareous clastic stratigraphy which is overlain by siliciclastic rocks. This particular lithological sequence is similar to the geological setting at the Conrad Zone.
Detailed contour soil sampling within a broad drainage basin at Pharaoh has identified intermittent anomalous clusters of antimony, arsenic and gold responses along a 6 km trend. Prospecting near the head of the main drainage system within the eastern part of the target identified two distinct structural systems. The first is comprised dominantly of northwest trending quartz veins. The second consists of northerly trending breccia/vein zones mineralized with varying amounts of Carlin-style indicator minerals that include stibnite (antimony), cinnabar (mercury) and realgar (arsenic).
Initial prospecting and vein sampling along a 900 m section of ridgeline in the eastern part of the Pharaoh target identified a number of significant gold-bearing subcrop and talus occurrences. The following table highlights prospecting results and grab samples collected from three of the vein zones clustered in the southern part of the ridge system.
|
Sample Type
|
Sample #
|
Au g/t
|
|---|---|---|
|
|
|
|
|
Prospecting grab
|
L843833(1)
|
49.60
|
|
Prospecting grab
|
L843851(1)
|
1.41
|
|
Prospecting grab
|
L843551(1)
|
1.33
|
|
Prospecting grab
|
N831951(1)
|
1.17
|
|
|
|
|
|
Vein #1*
|
L843967(2)
|
76.40
|
|
|
I383988 (2)
|
21.50
|
|
|
|
|
|
Vein #2**
|
I383989 (2)
|
79.40
|
|
|
L843982(2)
|
11.30
|
|
|
L843980(2)
|
4.56
|
|
|
L843981(2)
|
4.29
|
|
|
|
|
|
Vein #3***
|
L843903(2)
|
3.37
|
(1) Au g/t FA-AAS assay technique
(2) Au g/t SCR-21 (+)(-) fraction assay technique
* 5.41 kg spot sample from Vein #1 returned 0.10 g/t Au(2)
** 4.80 kg spot sample from Vein #2 returned 1.12 g/t Au(2)
*** 5.78 kg spot sample from Vein #3 returned 0.16 g/t Au(2)
Quartz-bearing structures range in width from 30 to 50 cm and are
distinctly hydrothermal in origin. Quartz vein material is commonly
pitted and fractured, often with limonite and/or moderate oxidation
indicating the presence of pre-existing sulphide. Black stylolitic
fractures occur in some specimens and these particular samples have been
noted to contain varying amounts of visible gold. Gold values from
quartz vein material ranged from below detection limit to 79.40 g/t.
A location map of the Pharaoh target and a photo of quartz vein
material hosting visible gold can be viewed on ATAC's website - www.atacresources.com.
Carlin-style mineralization occurs in north trending shear and breccia
zones 500 to 1,000 m north of the gold-bearing quartz veins. Where
exposed, shear and breccia zones range in width from 10 to 50 cm and are
commonly silicified. Mineralization consists of variable
concentrations of blebby to disseminated stibnite, realgar, cinnabar
and/or associated oxides and sulphates. Limited sampling in the area
returned extremely elevated antimony, mercury and arsenic with gold
values ranging from below detection limit to 0.28 g/t.
Based on the exploration success at the Pharaoh target, an aggressive
first pass reconnaissance program was undertaken on unstaked ground to
the northwest. Over 20 drainage basins were assessed in that program,
which revealed a number of drainages anomalous for gold. A total of 206
claims were subsequently staked to cover all of the anomalous areas
identified. All anomalies will be further explored in 2013.
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 (FA-AAS). Mercury
analyses are performed using atomic absorption spectroscopy.
Samples containing visible gold and samples suspected of containing
coarse gold were assayed by ALS method Au-SCR21 in which 1 kg of sample
pulp is passed through a 100 micron screen and all of the coarse
material on the screen is assayed by Au fire assay. Two samples of
homogenized pulp that passed through the screen are assayed by Au-AA25
and Au-AA25D which is fire assay with AAS finish on a 30 gram sample
charge. The weighted average of coarse and fine fraction assays are
calculated by the laboratory and reported as the total gold
concentration of the rock sample.
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.
About ATAC
ATAC is a well-funded, Yukon-based exploration company focused on
developing Canada's only Carlin-type gold discoveries at its 100% owned,
Rackla Gold Project. For additional information concerning ATAC
Resources Ltd., please visit our website at www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO
ATAC Resources Ltd.
Otcober 3, 2012 (Source: ATAC Resources Ltd.)
Disclosure: ATAC Resources is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team are actively accumulating and hold long positions in ATC.V.
