VANCOUVER, British Columbia, November 28, 2017 /PRNewswire/ --
ATAC Resources Ltd. (TSX-V: ATC) ("ATAC") is pleased to announce results for the final 11 diamond drill holes from the 2017 exploration program at its 100% owned Osiris Project at the Rackla Gold Property, Yukon. The Osiris Project is located outside of the area currently under option to Barrick Gold Corporation.
- Hole OS-17-257 from the Conrad Zone intersected 12.19 m of 9.44 g/t gold in the 650 Fault corridor, a 75 m step-out from hole OS-17-238 (12.50 m of 20.78 g/t gold);
- Hole OS-17-259 intersected 76.20 m of 3.54 g/t gold and 25.91 m of 5.44 g/t gold within the Conrad Upper Zone and 650 Fault corridor, respectively;
- Sunrise Zone extended to depth with the intersection of 13.68 m of 4.55 g/t gold in hole OS-17-254; and,
- Gold grade increased at depth within the northern part of the Osiris Zone where hole OS-17-258 returned 16.46 m of 5.29 g/t gold.
"The exceptional grades encountered in our 2017 step-out drilling campaign have far exceeded this year's objectives and continue to demonstrate the strength of the mineralizing system within our 100% owned Osiris Project. All three zones will be a focus for building ounces in our 2018 drill program as all zones remain open for expansion," states ATAC's President and CEO, Graham Downs. "Drill results from the 650 Fault area at the Conrad Zone are particularly exciting as many are near-surface and represent some of the highest grade intersections recorded to date. The full extent of the gold mineralization at the 650 Fault area is not yet known and remains open for extension to the east and at depth."
In total, 15 holes (6,788 m) were drilled at Conrad in 2017 to focus on cross-faults interpreted to be part of the hydrothermal plumbing system that introduced gold mineralization into the Conrad Zone. The 2017 drilling also targeted lateral and vertical continuity between mineralization previously intersected by widely-spaced holes at the Conrad Upper, Middle and Lower Zones. The following table contains results from the final five 2017 drill holes at the Conrad Zone.
Conrad Zone Diamond Drill Results
From To Interval[*] Gold Gold[**] Target Area Drill Hole (m) (m) (m) (g/t) (g x m) Lower Zone OS-17-250 505.00 515.11 10.11 8.44 85 incl. 507.71 512.64 4.93 15.52 77 and 531.76 536.45 4.69 5.46 26 Middle Zone OS-17-253 580.64 601.98 21.34 1.76 38 650 Fault OS-17-255 27.43 41.15 13.72 3.57 49 Upper Zone and 123.44 145.00 21.56 9.33 201 incl. 124.97 135.87 10.90 14.57 159 650 Fault OS-17-257 30.48 42.67 12.19 9.44 115 650 Fault OS-17-259 57.91 83.82 25.91 5.44 141 incl. 67.06 83.82 16.76 7.40 124 Upper Zone and 170.69 246.89 76.20 3.54 270 incl. 170.69 204.22 33.53 7.17 240 The reported intersections are drilled thicknesses and are believed to represent approximately 60 to * 100% true widths. Gram metres are calculated by multiplying the gold grade (g/t) by the interval (m) and rounding to the ** nearest integer.
Three of the last five 2017 holes drilled at Conrad were designed to follow-up mineralization intersected in hole OS-17-238 which returned 12.50 m of 20.78 g/t gold. Holes OS-17-257 and OS-17-259 targeted the 650 Fault corridor at the structural intersection with the Nadaleen Fault. These holes returned high-grade gold intersections of 12.19 m of 9.44 g/t gold and 25.91 m of 5.44 g/t gold, respectively, and to date are the only drill holes that have tested this structural junction. Holes OS-17-250, 253 and 255 were drilled as step-out holes from previous drilling in the Upper, Middle and Lower mineralized zones at Conrad. The high-grade 650 Fault corridor will be a priority for continued follow-up drilling in 2018.
The final three diamond drill holes completed at the Sunrise Zone in 2017 are presented in the table below. A total of six holes (1,886 m) were drilled at Sunrise in 2017 to test wide gaps between previously drilled holes and to step-out at depth.
Sunrise Zone Diamond Drill Results
From To Interval[*] Gold Gold[**] Drill Hole (m) (m) (m) (g/t) (g x m) OS-17-251 168.46 174.35 5.89 3.76 22 incl. 168.46 169.58 1.12 12.80 14 OS-17-252 192.63 196.54 3.91 8.39 33 incl. 195.39 196.54 1.15 19.15 22 OS-17-254 322.64 328.57 5.93 4.50 27 incl. 322.64 325.53 2.89 7.88 23 and 368.20 381.88 13.68 4.55 62 incl. 374.29 376.96 2.67 15.50 41 The reported intersections are drilled thicknesses and are believed to represent * approximately 50 to 70% true widths. Gram metres are calculated by multiplying the gold grade (g/t) by the interval (m) and rounding ** to the nearest integer.
Hole OS-17-254 returned two intervals of high-grade gold mineralization including 5.93 m of 4.50 g/t gold and 13.68 m of 4.55 g/t gold. These results are consistent with hole OS-17-249 located 100 m to the east which returned 10.42 m of 7.97 g/t gold and 15.24 m of 13.52 g/t gold (see ATAC news release dated October 10, 2017). Both of these holes show a bifurcation of the mineralized zone and an elevated gold grade with depth. This area will be a focus of drilling in 2018.
OS-17-251 and 252 were drilled to enhance the continuity of the shallower drilling previously targeted at the Sunrise Zone. The Sunrise Zone remains open along strike and at depth.
A total of eight holes (2,540 m) were drilled at the Osiris Zone in 2017 to confirm the continuity of the mineralizing system to the north where wide-spaced drilling in 2011 initially identified the mineralizing trends. Results of the final three diamond drill holes completed at the Osiris Zone are presented in the table below.
Osiris Zone Diamond Drill Results
From To Interval[*] Gold Gold[**] Drill Hole (m) (m) (m) (g/t) (g x m) OS-17-256 133.43 147.86 14.43 2.45 35 OS-17-258 271.88 288.34 16.46 5.29 87 incl. 277.98 285.29 7.31 7.41 54 OS-17-260 46.19 58.82 12.63 1.76 22 The reported intersections are drilled thicknesses and are believed to represent * approximately 70 to 100% true widths. Gram metres are calculated by multiplying the gold grade (g/t) by the interval (m) and rounding ** to the nearest integer.
Mineralization in hole OS-17-258 returned 16.46 m of 5.29 g/t gold associated with a fine crackle brecciation of the host Osiris limestone unit. This intersection is the deepest test of the Osiris Zone, which has been traced over an approximately 900 m unfolded strike length and vertically over 450 m, from the top of hole OS-11-049 on the ridge crest to the deepest intersection in OS-17-258 in the valley floor. The Osiris Zone will be a focus of continued systematic step-out drilling in 2018.
"The 2017 diamond drill program at Osiris was our first substantial follow-up from mineralization delineated in the northern part of the zone in 2011," states Julia Lane, Vice President of Exploration for ATAC. "Our results from both Osiris and Sunrise continue to highlight the continuity of these zones and their potential for extension at depth."
To view the cross-sections and figures in PDF form, please use the following links:
Conrad Zone Plan Map
Sunrise Zone Plan Map
Sunrise Zone Cross Section 480E
Osiris Zone Plan Map
Osiris Zone Cross Section 2480N
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.
All drill core assaying was completed by ALS Canada Ltd. All samples 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 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.
ATAC is a Yukon-based exploration company focused on developing Canada's only known Carlin-type gold district at the Rackla Gold Property. Recent work on the ~1,700 km 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 $13 million in its treasury and recently completed an approximately $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.
Manager, Corporate Communications,
ATAC Resources Ltd.,
T: 604-687-2522 ext. 260,
SOURCE ATAC Resources Ltd.