ATAC Resources extends Sunrise Zone with 26.70 metres of 12.95 g/t gold
newswire.ca
ATAC Resources Ltd. Sep 13, 2018, 07:30 ET
see link above for graphics
VANCOUVER, Sept. 13, 2018 /CNW/ - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") is pleased to announce additional results from the Sunrise and Conrad Deposit expansion program within the Osiris Project, located at its Rackla Gold Property, Yukon.
Highlights
Drilling at Sunrise has returned one of the highest grade intervals to date grading 26.70 m of 12.95 g/t gold in hole OS-18-273 and extending mineralization 70 m at depth; Step-out drilling at Conrad intersected 52.91 m of 2.83 g/t gold within the resource open pit; and, All 2018 drilling completed to date at Conrad has expanded the near-surface mineralization within the highly prospective 650-850 fault corridor.
"The 2018 expansion drilling program at the Sunrise and Conrad deposits continues to be very successful as highlighted by the impressive intersection in hole OS-18-273," commented President and CEO Graham Downs. "Mineralization identified this season clearly demonstrates the potential to increase near-surface gold resources at the Osiris deposit, which hosts one of North America's highest-grade, pit-constrained gold deposits of over one million ounces."
Sunrise Deposit
Gold mineralization at the Sunrise Deposit occurs as a structurally-controlled zone paralleling the Sunrise Fault. Priority drilling at Sunrise in 2018 focused on extending mineralization beneath hole OS-17-249 (10.42 m of 7.97 g/t gold and 15.24 m of 13.52 g/t gold).
OS-18-273 was drilled beneath hole OS-17-249 and returned 26.70 m of 12.95 g/t gold. This hole has extended mineralization an additional 70 m and is one of the highest grade Sunrise intervals drilled to date. The mineralization occurs within a structural setting that potentially enabled gold-bearing fluids to migrate along a highly permeable network of brittle fractures into the reactive Osiris Limestone unit, resulting in progressive bedding replacement proximal to the fracture network. Holes OS-18-269 and OS-18-271 targeted the eastern extent of the Sunrise Zone and intersected the Osiris Limestone unit outside of the brittle fracture environment and did not return significant mineralization.
Sunrise Deposit – Diamond Drill Results
Drill Hole
| From
(m)
| To
(m)
| Interval*
(m)
| Gold
(g/t)
| OS-18-273
| 272.00
| 298.70
| 26.70
| 12.95
| incl
| 272.00
| 284.99
| 12.99
| 23.81
|
|
| *
| The reported intersections are drilled thicknesses and are believed to represent
approximately 60 % true width
|
Sunrise Section S550E – Hole 18-273:
atacresources.com
Sunrise Geology & Drill Results: atacresources.com
Conrad Deposit
Drilling at Conrad continues to test beyond the eastern edges of the deposit within the 650-850 fault corridor. In 2017, drilling in this target area returned multiple intercepts of near-surface, high-grade gold mineralization, including: 12.50 m of 20.78 g/t gold from 54.86 m depth in hole OS-17-238.
Initial step out drilling in 2018 east of OS-17-238 included holes OS-18-261, 262 and 263. All three holes intersected near-surface mineralization, including 64.01 m of 1.55 g/t gold within the siliciclastic unit in hole OS-18-263.
Hole OS-18-261 intersected 3.05 m of 10.50 g/t, but was abandoned at 46.50 m due to drill pad complications. Hole OS-18-266 was a second attempt to drill test the intersection of the 650-850 fault corridor and the Nadaleen Fault. The results from OS-18-266 demonstrate the importance of structural control on mineralization at this intersection with the return of 52.91 m of 2.83 g/t gold within the footwall of the Nadaleen Fault.
All mineralized intercepts reported in the table below represent step out drill holes on previously defined mineralized trends and provide support for additional near-surface, siliciclastic-hosted gold mineralization at Conrad.
Conrad Deposit – Diamond Drill Results
Drill Hole
| From
(m)
| To
(m)
| Interval*
(m)
| Gold
(g/t)
| OS-18-264
| 69.39
| 75.29
| 5.90
| 1.37
| and
| 96.62
| 101.19
| 4.57
| 2.00
| and
| 133.20
| 139.29
| 6.09
| 1.88
|
|
|
|
|
| OS-18-265
| 128.02
| 132.59
| 4.57
| 2.42
| and
| 304.80
| 308.17
| 3.37
| 3.33
|
|
|
|
|
| OS-18-266
| 56.69
| 71.93
| 15.24
| 2.42
| incl
| 68.88
| 71.93
| 3.05
| 6.31
| and
| 126.62
| 179.53
| 52.91
| 2.83
| and
| 193.85
| 203.00
| 9.15
| 1.55
|
|
|
|
|
| OS-18-267
| 92.66
| 100.37
| 7.71
| 1.88
| and
| 404.36
| 405.65
| 1.29
| 13.30
|
|
|
|
|
| OS-18-268
| 53.04
| 57.61
| 4.57
| 1.52
| and
| 271.88
| 284.00
| 12.12
| 2.76
| and
| 293.22
| 299.10
| 5.88
| 5.86
| incl
| 294.70
| 295.75
| 1.05
| 19.35
| OS-18-270
| 120.40
| 129.54
| 9.14
| 1.62
|
|
|
|
|
| OS-18-272
| 173.48
| 175.17
| 1.69
| 8.32
|
|
| *
| The reported intersections are drilled thicknesses and are believed to represent
approximately 70%-100% true width.
|
Conrad 2018 Geology Map & Drill Results: atacresources.com
Additional drilling at the Conrad, Sunrise, and Osiris Deposits is ongoing. Results will be released when received and compiled.
Orion Update
Drilling at the Orion Project, which is subject to an earn-in with Barrick Gold Corporation, is progressing well and is anticipated to be completed by the end of September.
The 2018 field program followed three key target concepts during drilling: (i) the testing of intersections of geochemically anomalous structures; (ii) the targeting of priority anomalies selected on the basis of coincident pathfinder element geochemical responses and favourable stratigraphic setting; (iii) testing for continuing mineralization along the Anubis fault.
To the end of August up to three diamond drills have completed 6,976 m of drilling in 12 holes over a 9 km2 area. Results for this program will be released when received and jointly compiled.
See ATAC's website ( www.atacresources.com) for updated Sunrise and Conrad Deposit figures.
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., where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. 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 four 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.
About ATAC
ATAC is a Yukon-based exploration company focused on developing Canada's only Carlin-type gold district at the Rackla Gold Property. Work on the ~1,700 km2 property has resulted in an Osiris Project Inferred Mineral Resource of 1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt) and a positive Preliminary Economic Assessment for the Tiger Gold Deposit. Barrick currently holds an option to explore the Rackla Gold Property's Orion Project and to earn up to a 70% interest in the Orion Project by incurring exploration expenditures of $55 million by the end of 2026.
ATAC is well-financed with approximately $13 million in its treasury and is currently completing a $7 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.
SOURCE ATAC Resources Ltd.
For further information: Matthew Keevil, VP, Corporate Affairs, ATAC Resources Ltd., T: 604-687-2522 ext. 260, mkeevil@atacresources.com
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