ATAC intersects 12.19 m of 9.44 g/t gold and 25.91 m of 5.44 g/t gold in step-out drilling at its Osiris Project - Yukon
Wednesday, Nov 29, 2017
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.

Highlights

  • 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."

Conrad Zone

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.

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.

Sunrise Zone

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.

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.  

Osiris Zone

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.

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."

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 km[2] 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.

For more information, please visit: http://www.atacresources.com

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