ATAC Resources Ltd.

Published : July 18th, 2012

Intersects 46.06 m of 11.24 g/t Gold at the Conrad Zone, Rackla Gold Project - Yukon

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Keywords :   Diamond | Gold | Mercury | Report |


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NEWS RELEASE    

 JULY 18, 2012

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.  

News release highlights: 

  • 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. 

Conrad Zone 

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.

 

Drill Hole

Cross

Section

From (m)

To

(m)

Interval (m)

Au (g/t)

 

 

 

 

 

 

OS-12-094

C550E

285.90

295.05

9.15

4.68

 

 

 

 

 

 

OS-12-098

C400E

90.76

131.06

40.30

10.10

including

 

91.86

109.45

17.59

21.24

 

 

 

 

 

 

OS-12-103

C500E

34.44

80.50

46.06

11.24

including

 

71.19

80.50

9.31

25.93

and

 

147.07

162.46

15.39

3.46

including

 

147.07

155.45

8.38

5.12

  • 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.comSignificant results for Isis East are tabulated below.

Drill Hole

From (m)

To

(m)

Interval (m)

Au (g/t)

OS-11-040*

95.40

133.50

38.10

3.33

including

110.64

125.88

15.24

6.77

 

 

 

 

 

OS-11-073*

17.37

69.19

51.82

3.13

including

57.00

67.76

10.76

12.51

 

 

 

 

 

OS-12-091

198.73

212.45

13.72

5.14

 

 

 

 

 

OS-12-095

167.98

171.30

3.32

3.11

 

 

 

 

 

OS-12-097

31.39

55.78

24.39

5.58

including

42.06

54.25

12.19

9.96

 

 

 

 

 

OS-12-101

79.00

100.60

21.60

5.11

  • 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.

QA/QC

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. 

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.

Graham Downs, CEO
ATAC Resources Ltd.

For further information, please contact:

Vanessa Pickering, Manager, Corporate Communications
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
vpickering@nordacres.com

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.

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.


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The TSX Venture or TSX Exchange has neither approved nor disapproved of the contents of this news release. 
.

ATAC Resources Ltd.

EXPLORATION STAGE
CODE : ATC.V
ISIN : CA0464911068
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ATAC is a gold exploration company based in Canada.

ATAC holds various exploration projects in Canada.

Its main exploration properties are MATSON, HARTLESS JOE/BYNG, NIKKI, PANORAMA PROJECT, ROSY, LOST HORSES, MARS, GOLDEN REVENUE, ARN, DAWSON, CONNAUGHT, SEYMOUR, RAU, IDAHO and RACKLA GOLD BELT in Canada.

ATAC is listed in Canada. Its market capitalisation is CA$ 15.4 millions as of today (US$ 12.3 millions, € 11.3 millions).

Its stock quote reached its lowest recent point on December 21, 2001 at CA$ 0.05, and its highest recent level on August 05, 2011 at CA$ 9.83.

ATAC has 122 870 000 shares outstanding.

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