ATAC Resources Ltd.

Published : May 15th, 2012

Announces the Commencement of its 2012 Exploration and Drilling Program at its Rackla Gold Project,

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Keywords :   Diamond | Gold | Lead | Pyramid | Silver | Zinc |


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NEWS RELEASE    

 MAY 15, 2012

May 15, 2012 � Vancouver, BC � (TSX-V:ATC) ATAC Resources Ltd. (�ATAC") is pleased to announce that it has begun phase one of a two phase exploration and drilling program at its 100% owned, 1,600 sq/km Rackla Gold Project, which hosts Canada�s only Carlin-Type gold discoveries. 

Diamond drilling has commenced with one drill on the Isis East Zone, ramping up to three drills there within the month. Drilling at Isis East will continue testing a 450 metre gold in soil geochemical anomaly where initial drilling last year intersected strong Carlin-type gold mineralization of 3.33 g/t gold over 38.10 m (OS-11-040) and 3.13 g/t gold over 51.82 m (OS-11-073). 

An additional two Diamond drills will begin expanding the Conrad Zone within the week. The Conrad Zone is characterized by multiple stacked, continuous tabular zones of Carlin-type gold mineralization related to the nearby Nadaleen feeder fault system. It has a current drill confirmed strike length of 475 m and has been explored to a depth of 490 m. Significant Conrad results from 2011 include 82.29 m grading 4.08 g/t gold (OS-11-010) and 41.15 m grading 7.33 g/t gold (OS-11-058). 

A sixth Diamond drill will focus on the Osiris Zone to the north, exploring towards the intersection of the Nadaleen feeder fault system and the Osiris limestone unit.  Highlights from 2011 drilling at the Osiris Zone include 32.01 m grading 4.25 g/t gold (OS-11-031) and 26.12 m grading 6.08 g/t gold (OS-11-055). 

All the gold zones identified to date are distinct and each has the potential for significant expansion. Given their proximity to each other, they demonstrate the gold endowment potential characteristic of Carlin-type deposits. 

Regional Exploration 

Auger drilling commenced mid-April at the Pyramid Target which is located 20 km west of the Osiris Zone within the Nadaleen Trend. It is one of over fifteen early-stage gold targets that were identified in 2011. The Pyramid Target is defined by an extensive glacially dispersed orpiment/realgar (arsenic sulphides) cobble field measuring 150 by 80 m that lies within a larger 500 by 200 m arsenic/thallium soil anomaly.  Arsenic sulphides and thallium are strong gold pathfinder elements similar to those found at the Conrad, Osiris, Isis and Isis East Zones.  Approximately 60 auger holes will be drilled through glacially transported overburden to vector in on the bedrock source of the cobble field float train. Follow up Diamond drilling at the Pyramid Target will take place in 2012. Please visit our website for maps and figures on the Pyramid Target.

2012 Exploration Program 

  • 15,000 metres of Diamond drilling in phase one, with the majority of drilling to be focused on the Nadaleen Trend where four priority zones of Carlin-Type gold mineralization have been confirmed to date � Conrad, Osiris, Isis and Isis East;
  • Expansion and definition Diamond drilling of the Conrad, Osiris, Isis and Isis East Zones;
  • Scout drill testing of structural targets along the Nadaleen feeder fault and other structures that exhibit surface pathfinder element signatures to evaluate �leakage anomalies� for potential mineralization at depth;
  • Continued auger drilling at the Pyramid target to identify the bedrock source of a 500 by 200 m gold pathfinder arsenic/thallium soil geochemical anomaly coincident with abundant orpiment and realgar cobbles and boulders in glacial till;
  • Geophysical surveys on the Ocelot silver-lead-zinc discovery within the Rau Trend; and,
  • Follow up prospecting, geological mapping and detailed soil sampling of 15 high priority gold and pathfinder geochemical anomalies identified in 2011 along the 185 km long Rackla Gold Project claim block. 

The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., 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.

 

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 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. 
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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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