VANCOUVER, Feb. 06, 2018 /CNW/ - ATAC Resources Ltd.
(TSX-V:ATC) ("ATAC" or the "Company") announces exploration results
and project developments from its 100% owned, 660
km2 Rau Project located at the western end of the
Company's Rackla Gold Property, Yukon.
The objectives of the 2017 Rau Project exploration program were
to improve the knowledge base related to existing targets along
trend from the Tiger Deposit, evaluate untested soil anomalies and
gain a better understanding of the broad controls on mineralization
within the district.
2017 Rau Project Highlights
- Assays of 17.00 g/t gold, 9.46 g/t gold and 23.3% zinc
from grab samples collected at the Condor target (located 1.5 km
northwest of the Tiger Deposit);
- Assays of 4.63% copper and 7,080 g/t silver from grab
samples collected as part of a prospecting program on the Spotlight
target area; and
- The identification of three intrusive centres underlying the
Rau Project, suggesting possible sources for mineralization in the
area.
"The regional exploration potential at the Rau Project has
always been compelling but systematic evaluation of the area was
curtailed after the Company's discovery of Carlin-type
mineralization in 2010," states Rob
Carne, the Chair of ATAC's Technical Committee. "The 2017
regional exploration program was very successful in confirming that
the Rau Project is a fertile district with the potential to host
multiple gold and base metal deposits in a number of sediment
hosted and intrusive related settings."
Existing Targets
Prospecting in 2017 was designed to advance and prioritize the
many known gold and base metal targets along trend from the Tiger
Deposit for future drilling. Highlight grab sample results from the
prospecting program are provided in the following table:
Condor
Target
|
Panther
Target
|
Now
Target
|
Cheetah
Target
|
17.00 g/t
gold
|
8.18 g/t
gold
|
5.56 g/t
gold
& 20.5% lead
|
2.00 g/t gold
& 1.29% zinc
|
9.46 g/t
gold
|
6.35 g/t
gold
|
456 g/t
silver
|
116 g/t silver
& 1.34% zinc
|
23.3%
zinc
|
3.90 g/t
gold
|
213 g/t
silver
|
1.09% zinc
|
The high-grade gold results from the Condor and the
Panther targets - located 1.5 km and 3 km northwest
of the Tiger Deposit, respectively - confirm the potential for
carbonate-replacement style gold mineralization. The Tiger Deposit
is characterized as an intrusion related, carbonate-replacement
system, with the strong structural control of the mineralization
the result of its association within a corridor of highly strained
rocks.
High-grade zinc, lead and silver mineralization, similar to that
identified at the Ocelot Zone in 2011 (see ATAC news releases dated
June 13 and September 13, 2011), has also been identified
elsewhere on the Rau Project. Follow-up prospecting of the known
mineralized targets between the Tiger Deposit and Ocelot in 2017
included a reassessment of the base metal potential of these target
areas. The high-grade zinc, lead and silver results returned from
the Condor (23.3% zinc), Panther (6.09% zinc), Cheetah (116 g/t
silver and 1.34% zinc) and Now (456 g/t silver) targets highlight
the multi-commodity potential of the district.
New Discoveries
One of the ongoing exploration objectives of ATAC is to identify
new mineralization along trend of existing occurrences. The 2017
exploration program resulted in the identification of the
Spotlight and Northwest target areas. Both target
areas were identified through the follow-up of anomalous gold and
arsenic in soil. Results of prospecting grab samples from both of
these areas are presented below:
Spotlight
Target
|
Northwest Target Area
|
3.27 g/t
gold
|
1.43 g/t
gold
|
1.12 g/t
gold
|
4.14% zinc
|
1.00 g/t
gold
|
3.46% zinc
|
7,080 g/t
silver
|
3.09% zinc
|
4.63%
copper
|
1.98% zinc
|
The 7,080 g/t silver sample noted above is the highest
silver-in-rock sample collected to date on the Rau Project.
Additional grab samples collected from the 350 by 250 m Spotlight target returned elevated gold,
copper and tin, a typical metal suite associated with skarn
mineralization.
Prospecting at the Northwest target area was completed over a
poorly exposed and forested area located 3 km north of the Now
target and within a belt of mineralized showings between the Tiger
Deposit and Ocelot Zone. Assay values of 1.43 g/t gold and 4.14 %
zinc from grab samples collected within this broad 7.5
km2 target area suggest the potential for the discovery
of additional mineralized zones.
Grid geochemical surveys and detailed prospecting will be
conducted in 2018 at Spotlight and the Northwest target area to
expand on the limited coverage to date. Unassessed areas, such as
the 2 km² zinc-in-soil anomaly 2 km south of the Now
target, will be systematically explored in 2018.
District-Scale Mineralization Controls
In 2017, a desktop evaluation of the district-scale potential
for intrusive-related mineralization was completed through the
reinterpretation of existing geochemical and geophysical data sets.
The results of this work suggested the potential for three distinct
intrusive centres beneath the Rau Project. The interpretation is
based on characteristic intrusive-related geochemical
signatures correlated with areas of anomalous magnetic
response.
Of the three intrusive centres identified, one correlates with
the known location of the Rackla Pluton and is believed to be
related to the development of gold mineralization at the Tiger
Deposit. A second intrusive centre is located approximately 5 km to
the north of Tiger in the area of the Blue Lite skarn target and
the recently identified Spotlight target. The third intrusive
centre is located approximately 14 km to the west of Tiger, in the
vicinity of the Now target and just south of the Northwest target
area. All three intrusive centres will be further evaluated during
the 2018 field program.
An updated Rau Project map with 2017 highlight results in
relation to the intrusive centres is available on ATAC's
website.
QA/QC
Samples were forwarded to ALS Minerals in Whitehorse and North
Vancouver 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 where gold determinations were
carried out. Rock sample gold analyses were by the Au-AA26
procedure that involves fire assay preparation using a 50 gram
charge with an atomic absorption spectroscopy finish. Initial multi
element data for 49 elements was determined by the ME-MS61
procedure that involves a four acid digestion followed by
inductively coupled plasma mass spectrometry and inductively
coupled plasma atomic emission spectroscopy. Over limit values for
silver, copper, lead and zinc are determined by the
Ag/Cu/Pb/Zn-OG62 method that utilizes a four acid digestion
followed by an atomic absorption spectroscopy finish. Over limit
values for silver determined by the OG62 method are re-analyzed
using the Ag-GRA 21 method which involves fire assay preparation
using 30 gram charge and a gravimetric finish.
All prospecting grab samples reported in this release represent
significant results only. Below detection values for gold, copper,
silver, lead and zinc were encountered in grab samples from the
2017 prospecting program.
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.
About ATAC
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
km2 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 780 km²
Orion Project.
On behalf of Management and the Board of Directors
of ATAC Resources Ltd.
Graham Downs, President and
CEO
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THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
SOURCE ATAC Resources Ltd.