ATAC Resources Ltd. Identifies 10 sq/km Gold-in-Soil Anomaly 5 km Southeast of Its Tiger Gold Deposit
VANCOUVER, BC--(Marketwired - October 06, 2015) - ATAC Resources Ltd. (TSX VENTURE: ATC) (the "Company" or "ATAC") is pleased to report results from a regional-scale exploration program completed within the Rau Trend at the western end of ATAC's 100% owned, 1,700 sq/km Rackla Gold Project in central Yukon.
Highlights
- Soil sampling 5 km southeast of the Tiger Deposit returned elevated gold values up to 1 g/t gold (1,030 ppb gold) at the new 5 km by 2 km Airstrip Anomaly;
- Prospecting resulted in a new oxide gold discovery called Serval located along the 6 km favourable structural corridor that hosts the Tiger Deposit; and,
- Follow up sampling extended the Jaguar Target 350 m to the west and identified a gossanous exposure with nearby grab samples grading up to 2.55 g/t gold.
Bengal Extension and Airstrip Anomaly
ATAC recently completed a wide spaced soil sampling grid extension southeast of the Bengal Showing which is located 3.2 km south of the Tiger Deposit. Results from this program outlined the Airstrip Anomaly, a broad 5 km by 2 km gold-in-soil anomaly that remains open in all directions. Figures outlining the Rau Trend gold-in-soil geochemistry and the new Airstrip Anomaly are available on ATAC's website at www.atacresources.com.
The Bengal Showing occurs within a broad intermittent gold-in-soil geochemical anomaly hosted in an underexplored package of variably calcareous siltstone sediments in a lower slope to basinal stratigraphic setting. 2012 channel sampling of an exposure of highly friable interbedded limestone and pyritic siltstone yielded numerous elevated gold results including 3.19 g/t gold over 1 m (see ATAC news release dated January 23, 2013). The Bengal Showing remains undrilled.
The 2015 soil sampling program was designed to extend sample coverage southeast of the Bengal Showing along a moderately sloping vegetated hillside. Samples from this program returned gold results from below detection up to 1.03 g/t gold (1,030 ppb gold). Approximately 20% of all samples collected in the anomalous area returned values greater than 30 ppb gold. This work has outlined the robust 10 sq/km Airstrip Anomaly and highlighted the potential within the Rau Trend for new sediment-hosted gold discoveries.
Eleven targets, based on clusters of strongly anomalous gold-in-soil values, have been identified within the 10 sq/km Airstrip Anomaly for priority follow-up in 2016. This work will include targeted geologic mapping, test pitting, trenching, soil grid extension and prospecting, followed by rotary air blast drilling and diamond drilling, where warranted. ATAC will also undertake work to connect all-terrain trail systems within the Tiger Deposit and the Rau Airstrip to improve logistics within the Rau Trend in an effort to decrease the dependency on helicopter supported exploration.
"The size and magnitude of the Airstrip geochemical anomaly suggest that a very large gold mineralizing system occurs within a rock package previously thought to have limited potential of hosting significant gold mineralization," states Julia Lane, VP Exploration for ATAC Resources. "We are encouraged by the success of our exploration program at the Rau Trend this summer and look forward to continuing to explore for further sediment hosted gold targets within this area."
Serval target
The Serval oxide gold target is located on a ridge top 5.8 km along trend of the Tiger Deposit. Samples of variably silicified limonitic oxide float occur in association with an area of intense calcite flooding proximal to a fault that prominently offsets stratigraphy. Gold values from hand samples collected in proximity to this fault in 2015 returned a range of values from below detection up to 1.44 g/t gold.
Jaguar Target Extension
The Jaguar Target occurs 2.5 km northwest of the Tiger Deposit. Oxide mineralization was originally discovered along trend of the Tiger Deposit at the Jaguar target in 2009. Gold mineralization at Jaguar typically occurs within dense geothite-rich limonite float samples scattering the hillside over a 200 m by 300 m area. Prospecting 350 m west of this area in 2015 revealed a northwest trending linear located directly beneath a gossanous exposure. Float samples of oxidized limestone collected in this area in 2015 returned gold values between 0.01-2.55 g/t gold.
Rau Trend Overview
The Rau Trend lies at the western end of the 185 km long Rackla Gold Project and hosts the Tiger oxide gold Deposit as well as the Ocelot silver-lead-zinc discovery. Limited work conducted along trend of the Tiger Deposit since 2008 has led to the discovery of nine new sediment hosted gold targets (Bengal, Caracal, Cheetah, Condor, Cougar, Jaguar, Panther, Puma and Serval), five gold+/- copper +/- tungsten skarn targets (Bobcat, Kathy, Hogsback, Ridgecrest and Flat Top) in addition to numerous other untested gold, gold-pathfinder and silver-lead-zinc anomalies.
Mineralization at the Rau Trend occurs within a highly prospective geological setting, situated between the regional scale Dawson and Kathleen Lakes fault zones. Mineralization styles within the Rau Trend are diverse and likely directly related to a broad hydrothermal mineralizing system centered around the 63 million year old felsic Rackla Pluton, located 3 km southeast of the Tiger Deposit.
The 2015 regional exploration program was conducted concurrently with this year's Tiger Deposit geotechnical and resource optimization program, as recommended in the 2014 Preliminary Economic Assessment which was filed on SEDAR and can be viewed at www.sedar.com. The results of the 2015 field work and ongoing Tiger Deposit desktop optimization studies will be released once received and compiled.
QA/QC
Analytical work was completed by ALS Minerals, with sample preparation in Whitehorse, Yukon and assays and geochemical analyses in North Vancouver, British Columbia. All rock samples were analyzed for gold by fire assay fusion and atomic absorption spectroscopy finish (Au-AA26) and 48 other elements was by four acid digestion and inductively coupled plasma-atomic emission spectroscopy (ME-MS61). All soil samples were analyzed for gold by fire assay fusion and inductively coupled plasma-atomic emission spectrometry finish (Au-ICP21) and 51 other elements by aqua regia digestion and inductively coupled plasma-atomic emission spectrometry and mass spectrometry finish (ME-MS41).
The technical information in this news release has been approved by Julia Lane, P.Geo., VP Exploration for ATAC and a qualified person for the purposes of National Instrument 43-101.
About ATAC
ATAC is developing Canada's only Carlin-type gold district and additional mineral occurrences at its 100% owned, 1,700 sq/km, Rackla Gold Project in Yukon. Exploration on the project has resulted in a positive Preliminary Economic Assessment on the Tiger oxide gold deposit, delineation of multiple high-grade Carlin-type gold zones, the discovery of significant silver-lead-zinc mineralization at Ocelot and the identification of numerous early-stage gold targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC is well-financed with approximately $17 million in its treasury.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, President & CEO
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Contact
For further information, please contact:
Vanessa Pickering
Manager, Corporate Communications
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
info@atacresources.com