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December 13, 2011 - ATAC Resources Ltd. (TSX-V:ATC) has received assays for the final 22 Diamond drill holes from the Osiris and Isis East Zones within the Nadaleen Trend and 10 scout holes from the Rau Trend located within ATAC�s 100% owned 1,600 sq/km Rackla Gold Project in central Yukon.
News release highlights:
- Osiris Shear Zone drilling extends mineralized strike length to 550 m and 350 m depth;
- The Osiris Shear system remains open at depth and at the north end for a 700 m distance toward the junction with the Nadaleen Fault - the mineralizing feeder structure for the Conrad Zone;
- All 29 drill holes that intersected the Osiris Shear system in 2010 and 2011 encountered gold mineralization with 20 drill holes intersecting better than 3.25 g/t gold across significant widths; and,
- Drilling confirms the Isis East discovery with a 50 m step-out hole grading 3.13 g/t gold across 51.82 m, extending and leaving mineralization open along strike and down dip.
Osiris Zone
The Osiris Zone is one of five Carlin-type gold exploration targets over a 4 km by 3 km area explored by Diamond drilling in 2011 within the Nadaleen Trend located at the eastern end of the 185 km long Rackla Gold Project. The drill holes at the Osiris Zone have tested two distinct settings for Carlin-type gold mineralization, the steeply dipping north-trending Osiris Shear and parallel structures, and near surface stratabound mineralization that dips moderately south. Significant assays from the Osiris Zone drilling are tabulated below:
OSIRIS ZONE ASSAY RESULTS
|
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
|
OS-11-065 |
3.96 |
23.77 |
19.81 |
2.77 |
Stratabound |
|
and |
67.97 |
71.25 |
3.28 |
4.41 |
Stratabound |
|
and |
184.65 |
189.40 |
4.75 |
4.92 |
Osiris Shear |
|
OS-11-071 |
0.00 |
22.25 |
22.25 |
2.35 |
Stratabound |
|
including |
12.00 |
20.47 |
8.47 |
3.93 |
|
|
and |
189.89 |
204.60 |
14.71 |
3.28 |
Osiris Shear |
|
|
|
|
|
|
|
|
OS-11-078 |
39.32 |
54.56 |
15.24 |
4.22 |
Osiris Shear |
|
including |
40.84 |
48.46 |
7.62 |
7.63 |
|
|
|
|
|
|
|
|
|
OS-11-079 |
10.06 |
25.30 |
15.24 |
1.59 |
Osiris Shear |
|
and |
197.51 |
200.56 |
3.05 |
3.24 |
Outside Osiris Shear |
|
|
|
|
|
|
|
|
OS-11-080 |
24.39 |
44.20 |
19.81 |
5.07 |
Osiris Shear |
|
including |
32.00 |
44.20 |
12.20 |
8.03 |
|
|
|
|
|
|
|
|
|
OS-11-082 |
4.57 |
7.62 |
3.05 |
4.82 |
Outside Osiris Shear |
|
and |
134.11 |
178.31 |
44.20 |
4.41 |
Osiris Shear |
|
including |
160.02 |
175.26 |
15.24 |
6.83 |
|
|
|
|
|
|
|
|
|
OS-11-083 |
39.01 |
48.20 |
9.19 |
3.74 |
Osiris Shear |
|
|
|
|
|
|
|
|
OS-11-085 |
246.89 |
254.51 |
7.62 |
8.37 |
Outside Osiris Shear |
|
|
|
|
|
|
|
|
OS-11-086 |
81.69 |
90.83 |
9.14 |
3.96 |
Osiris Shear |
|
and |
131.88 |
153.41 |
21.53 |
2.67 |
Osiris Shear |
|
|
|
|
|
|
|
|
OS-11-088 |
74.07 |
92.35 |
18.28 |
4.43 |
Osiris Shear |
|
including |
76.94 |
83.21 |
6.27 |
11.15 |
|
|
and |
147.22 |
152.40 |
5.18 |
6.80 |
Osiris Shear |
|
|
|
|
|
|
|
|
OS-11-089 |
196.60 |
202.69 |
6.09 |
4.30 |
Osiris Shear |
The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 80% of true widths.
The 50 to 100 m wide Osiris Shear structure parallels bedding along the west limb of the Osiris anticline, near the contact between reactive silty limestone beds and an overlying dolostone unit. Wide-spaced drilling of the Osiris Shear structure in 2010 and 2011 has now traced it for 550 m horizontally and 350 m vertically. The relatively wide-spaced drill intercepts have all intersected gold mineralization and characteristic Carlin-type alteration.
Near surface stratabound mineralization has also been traced by drilling over a 50 by 150 m area in the moderately south dipping eastern limb of the Osiris anticline where silty limestone and limestone debris flow units are partially replaced by silica sinter and realgar. The mineralized zone is open to expansion along strike to the east and down the dip to the south. Hole OS-11-071 intersected 22.25 m grading 2.35 g/t gold from surface in this zone.
Partial to complete oxidation is observed up to 90 m vertically from surface in both the shear hosted and stratabound mineralization.
Maps showing the drilling locations and a longitudinal section showing projected mineralized intersections along the Osiris Shear structure can be found on ATAC�s web site www.atacresources.com.
Isis East
Two holes were drilled 50 m apart to test a gold-in-soil geochemical anomaly overlying the Isis carbonate sequence where it is cut by the Osiris Shear structure. These holes are the first test of a 900 m long gold-in-soil geochemical anomaly over the Isis carbonate unit. The Isis East is the third major drill-confirmed discovery within the Nadaleen Trend and will be a priority drill target in 2012. Results of the Isis East drilling are tabulated below.
ISIS EAST ZONE ASSAY RESULTS
|
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
|
OS-11-040* |
95.40 |
133.50 |
38.10 |
3.33 |
Isis East |
|
including |
110.64 |
125.88 |
15.24 |
6.77 |
|
|
|
|
|
|
|
|
|
OS-11-073 |
17.37 |
69.19 |
51.82 |
3.13 |
Isis East |
|
including |
57.00 |
67.76 |
10.76 |
12.51 |
|
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- Based on the character of the mineralization and the limited drilling, it is not possible to determine the true width of the intersections at this time.
- *Previously reported
�We are extremely pleased with the progress at the Nadaleen Trend over the 2011 field season.� states Graham Downs, ATAC�s CEO. �The Conrad Zone has demonstrated high gold grades with good continuity over a 400 m strike length and remains open to expansion at both ends and at depth. The Osiris Shear system has been explored with wide spaced drilling over a 550 m length and it too remains open along strike and down dip. Stratabound gold mineralization in the Osiris carbonate outside the Osiris Shear structure has only been tested over less than 50% of the surface gold-in-soil geochemical anomaly. Finally, the new discovery at Isis East has been intersected by two very significant holes, leaving the bulk of the 900 m long gold-in soil geochemical anomaly to be tested in 2012.�
Rau Trend Drilling
Ten scout Diamond drill holes were carried out to test soil geochemical targets at the Now (three holes), Puma (two holes), Cheetah (three holes) and Kathy (two holes); within the Rau Trend. Low-grade gold intersections in most of the holes satisfactorily explain the targeted anomalies. The results from both the Rau and Nadaleen Trend are being compiled and reviewed to evaluate targets for 2012 exploration and drilling with specific program details to be announced in the new year.
Property-Wide Exploration
ATAC is currently compiling and reviewing over 10,000 geochemical samples collected along the entire Rackla Gold Project in 2011. Areas with similar geochemical signatures as the Osiris, Conrad and Isis East zones will be evaluated and targeted for follow-up in 2012.
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 reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purpose 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 discovery 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
T: 604-687-2522 ext. 60
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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