ATAC Resources Ltd. to Begin Phase One Exploration at the Rau Project, Yukon
VANCOUVER, May 21, 2019 /CNW/ - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") is pleased to announce that Phase One of the 2019 exploration program will begin on June 1st. The program will focus on the 660-km2 Rau Project, located at the western end of its Rackla Gold Property.
This year's program will follow-up on high-grade gold, copper and silver results from 2018, as well as additional exploration opportunities proximal to the Rackla Pluton.
Program Summary
- Ground based induced-polarization (IP) and magnetic surveys over a 12 km2 area covering the Bobcat target and the Rackla Pluton;
- Approximately 4,000 m of diamond and rotary air-blast (RAB) drilling on priority targets;
- Detailed geologic mapping, hand-pitting and rock sampling over the Bobcat Target and Rackla Pluton areas; and,
- Additional reconnaissance-scale mapping, soil sampling, and prospecting to refine other targets including the 2.2 km gold-in-soil Spotlight target.
"ATAC is excited to embark on a systematic exploration program at the Rau Property that we believe will lead to a meaningful discovery," commented President and CEO Graham Downs. "The Rau Project has seen limited drilling outside of the Tiger Deposit area, but ongoing mapping and prospecting programs have outlined a series of high-priority areas that will be drill ready this summer. The regional evidence suggests intrusive sources for a series of high-grade, polymetallic occurrences that include compelling gold, copper and silver skarn and manto targets. Any new discoveries in this area will benefit from the proximity to the pending 65-km tote road that will connect the project to the Yukon highway network."
Detailed exploration will focus on a 12 km2 area surrounding the Bobcat Target, which returned numerous multi-gram gold and multi-percent copper grab samples; including: 6.07 g/t gold with 7.41% copper; and 7.37 g/t gold with 5.90% copper. The ground based IP and magnetic geophysical surveys will be completed over an area that is centered on the Rackla Pluton, and encompassing Bobcat and other nearby skarn targets. This work will improve the resolution of existing airborne magnetic data, and define areas of anomalous subsurface chargeability. Data collected from concurrent mapping and prospecting will refine this area for follow-up drilling in July and August.
ATAC has been very successful in identifying new mineralized targets through soil-sampling, prospecting, hand-pitting and mapping. The majority of targets discovered to date have been identified in this manner, yet significant portions of the property remain unsampled. This program will see continued use of this systematic approach, with a focus on prospective untested areas proximal to the intrusion. An updated Rau Project figure can be viewed on ATAC's website.
QA/QC
Prospecting grab samples referenced in this release represent highlight results only, and include results from both 2018 and previous seasons. Below detection values for gold, copper, and silver have been encountered in grab samples in these target areas.
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 Carlin-type gold district and intrusion-related polymetallic targets at the Rackla Gold Property. Work on the ~1,700 km2 property has resulted in the Osiris Project Inferred Mineral Resource of 1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit, and numerous early-stage gold and base metal discoveries. ATAC is well-financed with approximately $14 million in working capital.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, President and CEO
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SOURCE ATAC Resources Ltd.
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