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ATAC Resources Ltd. Intersects 12.50 m of 20.78 g/t Gold of Near-Surface Mineralization at the Conrad Zone

/EINPresswire.com/ -- VANCOUVER, BC--(Marketwired - August 29, 2017) - ATAC Resources Ltd. (TSX VENTURE: ATC) ("ATAC") is pleased to announce results of an additional four diamond drill holes from the Conrad and Osiris Zones within the Osiris Project at the Rackla Gold Property, Yukon.

Highlights

  • Hole OS-17-238 at the Conrad Zone intersects 12.50 m of 20.78 g/t gold of newly identified and near-surface mineralization;
  • Hole OS-17-236 at the Conrad Zone intersects four high-grade gold intervals; and,
  • Drilling confirms continuity along the western limb of the Osiris zone.
Conrad Zone Diamond Drill Results
 
Target Area   Drill Hole   From
(m)
  To
(m)
  Interval*
(m)
  Gold
(g/t)
  Gold**
(g/t x m)
                         
Upper Zone   OS-17-236   3.05   30.48   27.43   4.37   120
    incl.   20.46   27.43   6.97   10.66   74
Upper Zone       37.06   71.63   34.57   3.52   122
Upper Zone       132.59   149.35   16.76   8.59   144
    incl.   133.65   141.55   7.90   17.24   136
650 Fault       190.50   233.17   42.67   3.78   161
    incl.   194.40   201.17   6.77   8.16   55
                         
650 Fault   OS-17-238   19.81   27.43   7.62   4.96   38
650 Fault       54.86   67.36   12.50   20.78   260
    incl.   64.01   67.36   3.35   35.60   119
650 Fault       259.08   269.49   10.41   7.15   74
    incl.   262.13   267.21   5.08   11.83   60
* The reported intersections are drilled thicknesses and are believed to represent approximately 40 to 100% true widths.
** Gram metres calculated by multiplying the gold grade (g/t) by the interval (m) and rounded to the nearest integer.

"The newly identified gold mineralization intersected in hole OS-17-238 is an exciting development as it confirms our belief that the 650 Fault zone plays an important structural role in the mineralizing system at Conrad," commented Julia Lane, ATAC's VP of Exploration. "Only very limited drilling has occurred near OS-17-238 previously, therefore the discovery of this new mineralization adds to the exploration potential in this area."

Conrad Zone

Drilling at the Conrad Zone in 2017 includes the targeting of mineralization associated with the 650 Fault zone on the eastern side of Conrad. The 650 Fault zone is an area where detailed geologic and structural modelling has shown a northward stepped displacement of the Conrad limestone unit. Hole OS-17-236 was drilled across the northwest trending 650 Fault corridor and intersected four zones of high-grade gold including 27.43 m of 4.37 g/t gold and 42.67 m of 3.78 g/t gold. The four mineralized zones in this hole represent the interplay of the 650 Fault hosted mineralization with the strata controlled replacement-style Conrad Upper Zone mineralization.

Hole OS-17-238 at Conrad targeted an area of limited drilling within the 650 Fault corridor and returned high-grade siliciclastic-hosted rock with an interval of 12.50 m of 20.78 g/t gold near the top of the hole. Additional intervals of high-grade gold mineralization including 10.41 m of 7.15 g/t gold within OS-17-238 occur in fracture networks developed in the siliciclastic rock unit hosted in the 650 Fault corridor. Diamond drilling targeting this prospective area and the 350 Fault corridor of the Conrad Zone is ongoing. Both the 650 and 350 Fault corridors exhibit similar structural settings (see ATAC news release dated August 17, 2017). Please see ATAC's website www.atacresources.com, for an updated Conrad Zone plan map.

Osiris Zone Diamond Drill Results
 
Target Area   Drill Hole   From
(m)
  To
(m)
  Interval*
(m)
  Gold
(g/t)
  Gold**
(g x m)
                         
Osiris North   OS-17-237   175.47   192.63   17.16   2.89   50
                         
Osiris North   OS-17-239   130.28   144.17   13.89   1.85   26
* The reported intersections are drilled thicknesses and are believed to represent approximately 50 to 100% true widths.
** Gram metres calculated by multiplying the gold grade (g/t) by the interval (m) and rounded to the nearest integer.

Osiris Zone

Drilling at the Osiris Zone in 2017 is aimed at testing the favourable limestone and overlying dolostone units in proximity to faults that offset the Osiris stratigraphy. Drilling is also focusing on expanding upon the limited wide-spaced drilling that was last completed in the northern portion of the Osiris Zone in 2011. Both holes OS-17-237 and OS-17-239 targeted an area on the western limb of the Osiris anticline that is cut by southeast trending cross faults.

Hole OS-17-237 intersected 17.16 m of 2.89 g/t gold within mineralized fractures that developed on the periphery of one of the Osiris cross faults. Hole OS-17-239 intersected 13.89 m of 1.85 g/t gold in a more strongly faulted section of the host limestone unit. Both holes also confirm mineralized continuity along the western limb of the Osiris Zone. Please see ATAC's website www.atacresources.com, for an updated Osiris Zone plan map.

Drilling along the western limb of the Osiris Zone is ongoing.

At the time of this release, a total of 8,300 m of diamond drilling has been completed at the Osiris Project. Two drills continue to test the Conrad, Osiris and Sunrise Zones.

The technical information in this news release has been approved by Julia Lane, P.Geo., Vice President of Exploration for ATAC and a qualified person for the purposes of National Instrument 43-101.

QA/QC

Diamond drill 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, B.C. where gold determinations were carried out. Splits of the pulverized fraction were dissolved using a multi acid digestion and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) and atomic emission spectroscopy (AES). Gold analyses were by the Au-AA25 procedure that involves fire assay preparation using a 30 gram charge with an atomic absorption spectroscopy (AAS) finish. Mercury analyses were digested with aqua regia and analyzed by inductively coupled plasma mass spectrometry (ICP-MS).

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 of diamond drill samples to ensure integrity of the assay process. All diamond drill samples included in this news release have passed the QA/QC procedures as described above. All assay intervals presented in this news release are uncut.

About ATAC

ATAC is a Yukon-based exploration company focused on developing Canada's only Carlin-type gold district at the Rackla Gold Property. Recent work on the ~1,700 km2 property has resulted in a positive Preliminary Economic Assessment for the Tiger Gold Deposit, drilling of multiple high-grade Carlin-type gold zones and the identification of numerous early-stage gold exploration targets. ATAC and Barrick Gold Corporation recently partnered to explore the Rackla Gold Property's Orion Project, with Barrick having the option to earn up to 70% of Orion by spending $55 million in exploration. ATAC is well-financed with approximately $18 million in its treasury and is currently completing a $10 million exploration program at the Osiris and Rau Projects (which are not subject to Barrick's earn-in right), while concurrently working with Barrick to advance the Orion Project.

On behalf of Management and the Board of Directors
of ATAC Resources Ltd.

Graham Downs, President and CEO

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.

For further information, please contact:
Vanessa Pickering
Manager, Corporate Communications
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
info@atacresources.com

Distribution channels: Mining