ATAC Resources Ltd. Commences Drilling and Exploration at its Rackla Gold Project, Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/31/11 -- ATAC Resources Ltd. (ATAC) (TSX VENTURE: ATC) announces the commencement of a 40,000 metre drilling program at its 100% owned, 1,600 sq/km Rackla Gold Project (formerly named the Rau Gold Project) located in central Yukon. This comprehensive $25 million exploration program will utilize eight diamond drills and will focus on significant Carlin-type gold mineralization discovered in late 2010.
2011 Exploration Plans and Major Objectives:
-- 40,000 metres of proposed diamond drilling consisting of approximately
200-250 holes
-- 35,000 metres at the Nadaleen Trend and Osiris area targets
-- 5,000 metres at the Rau Trend and Tiger area targets;
-- Definition and step-out diamond drilling to expand the Osiris, Conrad,
Eaton and Isis zones within the Nadaleen Trend;
-- Prospecting, silt and soil sampling of the majority of streams and
ridges along the Rackla Gold Project will be used to identify any
exposed mineralized zones similar to Osiris;
-- Scout drill testing of new targets identified late in 2010 that were not
tested due to onset of winter will be carried out in June;
-- One drill and crew solely allocated to test newly discovered targets
throughout the 2011 exploration season;
-- Comprehensive geological mapping throughout the Rackla Gold Belt.
'Management is very excited that drilling is underway at the Ocelot and Conrad zones and commends its field crews for their hard work to make this early start a reality,' states Graham Downs, ATAC's CEO. 'With Osiris, Conrad, Eaton and Isis discovered in such a short timeframe last fall, we are very optimistic that additional Carlin-type gold discoveries will be made along the 185 km long Rackla Gold Belt this year.'
Three diamond drills are currently operating; one drill is grid testing the Ocelot silver-lead-zinc Zone located 15 km west of the Tiger Zone within the Rau Trend. Two additional drills are testing the Conrad zone approximately one kilometre east of the Osiris zone within the Nadaleen Trend. An additional five drills are onsite and will be mobilized to the Osiris, Eaton and Isis zones in the coming weeks. Updated project photos, maps and figures can be viewed on ATAC's website, www.atacresources.com.
The Rackla Gold Project
The Rackla Gold Project encompasses a 185 km belt of Paleozoic carbonate rocks in the lower plate of the Dawson Thrust Fault known as the Rackla Gold Belt. Within this belt there are currently two distinct trends; the Nadaleen and Rau.
The Nadaleen Trend is defined by 25 km long and 5 km wide belt that is highly anomalous for many Carlin-type pathfinder elements which include arsenic, thallium and mercury. Late in 2010, four at/or near surface Carlin-type discoveries were made and confirmed by drilling at the Osiris, Conrad, Eaton and Isis zones. Highlights from the Osiris and Conrad zones include 65.20 metres of 4.65 g/t gold and 21.13 metres of 8.01 g/t gold, respectively. Greater than ninety-five percent of this trend has never been systematically explored for gold.
The Rau Trend comprises a 15 km long ridge system underlain by Paleozoic carbonate rocks. The most advanced target within the Rau Trend is the Tiger Zone, where 25,900 metres of drilling over the past three field seasons has defined high grade at/or near surface oxide gold mineralization as well as significant underlying sulphide gold mineralization. ATAC intends to complete a NI 43-101 mineral resource estimate on the Tiger Zone in 2011. In addition, there are numerous undrilled surface gold zones located 5 km along strike from Tiger that exhibit similar oxide mineralization. Some of these targets will be tested during the 2011 exploration season.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purposes of National Instrument 43-101.
ATAC also announces the appointment of Larry Donaldson as Chief Financial Officer. Robert Dinning, the former Chief Financial Officer resigned following the ATAC annual general meeting on May 18, 2011 to pursue other business interests.
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.
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
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.
Contacts:
ATAC Resources Ltd.
Vanessa Pickering
Manager, Corporate Communications
604-687-2522 ext. 60
vpickering@nordacres.com
www.atacresources.com