ATAC Resources Drills 26.12 Metres of 6.08 g/t Gold at Osiris Zone: Isis East Discovery Hole Intersects 38.10 Metres of 3.33 ...
November 02 2011 - 8:30AM
Marketwired
ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to announce assay
results for 18 diamond drill holes from the Osiris Zone and the
newly discovered Isis East Zone, located within the Nadaleen Trend
of the Company's wholly-owned 1,600 sq/km Rackla Gold Project in
central Yukon.
Osiris Zone
The drill holes at the Osiris Zone have tested two distinct
settings for Carlin-type gold mineralization, the steeply dipping
Osiris Shear structure and near surface stratabound mineralization.
Significant assays from the Osiris Zone drilling are tabulated
below:
OSIRIS ZONE ASSAY RESULTS
----------------------------------------------------------------------------
Interval
Hole ID From (m) To (m) (m) Au (g/t) Comments(i)
----------------------------------------------------------------------------
OS-11-039 73.46 91.95 18.49 3.49 Osiris Shear/Oxidized
----------------------------------------------------------------------------
including 85.65 91.95 6.30 7.64
----------------------------------------------------------------------------
and 152.70 155.75 3.05 4.76 Osiris Shear
----------------------------------------------------------------------------
OS-11-047 91.50 97.23 5.73 3.46 Osiris Shear
----------------------------------------------------------------------------
OS-11-049 1.87 28.60 26.73 1.83 Stratabound/Oxidized
----------------------------------------------------------------------------
OS-11-052 106.07 121.31 15.24 3.40 Osiris Shear/Oxidized
----------------------------------------------------------------------------
OS-11-053 0.41 31.39 30.98 3.09 Stratabound/Oxidized
----------------------------------------------------------------------------
including 7.60 28.15 20.55 4.09
----------------------------------------------------------------------------
OS-11-055 1.42 27.54 26.12 6.08 Stratabound/Oxidized
----------------------------------------------------------------------------
OS-11-057 1.75 23.77 22.02 4.14 Stratabound/Oxidized
----------------------------------------------------------------------------
including 3.96 14.63 10.67 7.18
----------------------------------------------------------------------------
and 179.22 183.79 4.57 3.73 Osiris Shear
----------------------------------------------------------------------------
and 226.70 233.05 6.35 3.85 Osiris Shear
----------------------------------------------------------------------------
OS-11-061 3.96 26.82 22.86 2.77 Stratabound/Oxidized
----------------------------------------------------------------------------
including 3.96 13.11 9.15 3.78
----------------------------------------------------------------------------
and 390.98 395.63 4.65 4.59
----------------------------------------------------------------------------
-- Based on the character of the mineralization and the limited drilling,
it is not possible to determine the true width of the intersections at
this time.
-- (i) denotes visibly oxidized or partially oxidized intervals.
The 50 to 100 m wide Osiris Shear structure parallels bedding
along the west limb of the Osiris anticline, near the contact
between reactive silty limestone beds and an overlying dolostone
unit. Definition drilling of the Osiris Shear structure has now
been traced an additional 450 m horizontally for a total of 1 km
and a further 200 m vertically for a total of 500 m. Results
summarized in this news release are from holes drilled to partially
test approximately one third of the known strike length of the
Osiris Shear structure. Holes drilled along the structure toward
the North Osiris trench (see news release dated August 30, 2011)
have all intersected levels of alteration and arsenic
mineralization characteristic for gold mineralization in this
system. Assays for the remaining 18 holes from the Osiris Zone will
be released when received and compiled.
Near surface stratabound mineralization has been traced by
drilling over a 50 by 150 m area in the moderately south dipping
eastern limb of the Osiris anticline, perpendicular to the Osiris
Shear structure, where silty limestone and limestone debris flow
units are partially replaced by silica sinter and realgar. The
mineralized zone is open to expansion along strike to the east and
down the dip to the south. Previously reported intersections of
this style of mineralization include 35.08 m of 2.31 g/t gold in
hole OS-10-002 (see News Release dated November 30, 2010).
Partial to complete oxidation is present up to 90 m vertically
from surface in both the shear hosted and stratabound
mineralization. Metallurgical testing has not been carried out on
material from the Osiris Zone.
Holes OS-11-035 and OS-11-037 intersected the Osiris Shear
structure above the favourable limestone units and did not
intersect significant mineralization. Hole OS-11-056 was drilled
away from the Osiris Shear to complete a structural cross section.
Holes OS-11-041, 044 and 048 did not intersect significant
mineralization. Maps showing the drilling locations and a
longitudinal section showing mineralized zones projected to section
along the Osiris Shear structure can be found on ATAC's web site
www.atacresources.com.
Isis East Discovery
Initial drilling was also done to test a gold-in-soil
geochemical anomaly overlying where the Isis carbonate sequence is
cut by the Osiris Shear structure. The Isis carbonate sequence is
interpreted to be a thrust fault repeat of the Osiris carbonate
sequence. Therefore, the Osiris carbonate sequence may be present
at depth below the Isis East showing and it may be similarly
mineralized where it is intersected by the Osiris Shear structure.
Results of the Isis East drilling are tabulated below.
ISIS EAST ZONE ASSAY RESULTS
----------------------------------------------------------------------------
Interval
Hole ID From (m) To (m) (m) Au (g/t) Comments(i)
----------------------------------------------------------------------------
OS-11-038 39.01 48.16 9.15 2.76 Osiris Shear/Oxidized
----------------------------------------------------------------------------
OS-11-040 95.40 133.50 38.10 3.33 Osiris Shear
----------------------------------------------------------------------------
including 110.64 125.88 15.24 6.77
----------------------------------------------------------------------------
OS-11-046 12.80 20.00 7.20 1.79 Osiris Shear/Oxidized
----------------------------------------------------------------------------
-- Based on the character of the mineralization and the limited drilling,
it is not possible to determine the true width of the intersections at
this time.
-- (i) denotes visibly oxidized or partially oxidized intervals
Hole OS-11-043 cut the Osiris Shear structure above the
favourable carbonate rocks and did not intersect significant
mineralization.
Amon Target
Eight holes were drilled on the Amon target located
approximately 2 km west of the Osiris Zone. Each hole intersected
moderate to strong arsenic mineralization (orpiment and realgar)
within and peripheral to an east-trending fault that cuts dolostone
in the upper part of the Isis carbonate sequence along a 200 m
strike length. Anomalous gold values accompany the arsenic
mineralization. Drilling in 2012 will test the fault zone at a
greater depth where it is projected to intersect favourable
limestone sequences at the base of the Isis carbonate unit.
2011 Drilling Program
The 2011 field program at the Rackla Gold Project has now been
concluded and field crews demobilized. A total of 118 diamond drill
holes were completed on the project during the 2011 program for a
total of 32,500 m metres. Twenty-nine holes (5,900 m) were drilled
within the Rau Trend and eighty-nine holes (26,600 m) within the
Nadaleen Trend. A summary of the 2011 drill program is tabulated
below. Assay results for the remaining 50 drill holes will be
released once received and compiled.
----------------------------------------------------------------------------
Total Holes Holes
Trend Target/Zone 2011 Reported Comments
----------------------------------------------------------------------------
Nadaleen Osiris 37 19 Definition Drilling
----------------------------------------------------------------------------
Nadaleen Conrad 29 18 Definition Drilling
----------------------------------------------------------------------------
Nadaleen Isis East 6 4 Scout Drilling
----------------------------------------------------------------------------
Nadaleen Isis 1 0 Scout Drilling
----------------------------------------------------------------------------
Nadaleen Amon 8 8 Scout Drilling
----------------------------------------------------------------------------
Nadaleen Pyramid 5 0 Scout Drilling
----------------------------------------------------------------------------
Nadaleen Dale 2 0 Scout Drilling
----------------------------------------------------------------------------
Nadaleen Ptah 1 0 Scout Drilling
----------------------------------------------------------------------------
Silver-Lead-Zinc
Rau Ocelot 19 19 Discovery
----------------------------------------------------------------------------
Rau Now 3 0 Scout Drilling
----------------------------------------------------------------------------
Rau Puma 2 0 Scout Drilling
----------------------------------------------------------------------------
Rau Cheetah 3 0 Scout Drilling
----------------------------------------------------------------------------
Rau Kathy 2 0 Scout Drilling
----------------------------------------------------------------------------
118 68
----------------------------------------------------------------------------
QA/QC
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 where gold determinations were carried out and splits of
the pulverized fraction were routinely dissolved in aqua regia and
analyzed for 49 elements using inductively coupled plasma (ICP)
together with mass spectrometry (MS) or atomic emission
spectroscopy (AES). Gold analyses were by the Au-AA26 procedure
that involves fire assay preparation using a 50 gram charge with an
atomic absorption spectroscopy finish. Mercury analyses are
performed using atomic absorption spectroscopy (AAS).
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 to ensure integrity of the assay process.
The technical information in this news release has been reviewed
by Robert C. Carne, M.Sc., P.Geo., a qualified person for the
purpose of National Instrument 43-101.
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.
60vpickering@nordacres.comwww.atacresources.com
ATAC Resources (TSXV:ATC)
Historical Stock Chart
From Mar 2024 to Apr 2024
ATAC Resources (TSXV:ATC)
Historical Stock Chart
From Apr 2023 to Apr 2024
