ATAC Resources Ltd. Announces Exploration Results from the Rau Project - Rackla Gold Property, Yukon
February06, 2018 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC" or the "Company")announces exploration results and project developments from its 100% owned, 660 km2Rau Project located at the western end of theCompany's Rackla Gold Property, Yukon.
Theobjectives of the 2017 Rau Project exploration program were to improve the knowledgebase related to existing targets along trend from the Tiger Deposit, evaluate untestedsoil anomalies and gain a better understanding of the broad controls onmineralization within the district.
2017 Rau Project Highlights
Assays of 17.00g/t gold, 9.46 g/t gold and 23.3% zinc from grab samples collected at theCondor 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 aprospecting program on the Spotlight target area; andThe identification of three intrusive centres underlyingthe Rau Project, suggesting possible sources for mineralization in the area."The regionalexploration potential at the Rau Project has always been compelling but systematicevaluation of the area was curtailed after the Company's discovery of Carlin-typemineralization in 2010," states Rob Carne, the Chair of ATAC's TechnicalCommittee. "The 2017 regional exploration program was very successful inconfirming that the Rau Project is a fertile district with the potential tohost multiple gold and base metal deposits in a number of sediment hosted and intrusiverelated settings."
Existing Targets
Prospecting in 2017 was designed to advance and prioritizethe many known gold and base metal targets along trend from the Tiger Deposit forfuture drilling. Highlight grab sample results from the prospecting program areprovided 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 - located1.5 km and 3 km northwest of the Tiger Deposit, respectively - confirm the potentialfor carbonate-replacement style gold mineralization. The Tiger Deposit ischaracterized as an intrusion related, carbonate-replacement system, with the strongstructural control of the mineralization the result of its association within acorridor of highly strained rocks.
High-grade zinc, lead and silver mineralization, similarto that identified at the Ocelot Zone in 2011 (see ATAC news releases datedJune 13 and September 13, 2011), has also been identified elsewhere on the RauProject. Follow-up prospecting of the known mineralized targets between the TigerDeposit and Ocelot in 2017 included a reassessment of the base metal potentialof these target areas. The high-grade zinc, lead and silver results returnedfrom the Condor (23.3% zinc), Panther (6.09% zinc), Cheetah (116 g/t silver and1.34% zinc) and Now (456 g/t silver) targets highlight the multi-commodity potentialof the district.
New Discoveries
One of the ongoing exploration objectives of ATAC is to identify new mineralizationalong trend of existing occurrences. The 2017 exploration program resulted inthe identification of the Spotlight and Northwest target areas. Both targetareas were identified through the follow-up of anomalous gold and arsenic insoil. Results of prospecting grab samples from both of these areas arepresented 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 samplenoted above is the highest silver-in-rock sample collected to date on the RauProject. Additional grab samples collected from the 350 by 250 m Spotlight targetreturned elevated gold, copper and tin, a typical metal suite associated withskarn mineralization.
Prospecting at the Northwest target area was completed over a poorlyexposed and forested area located 3 km north of the Now target and within abelt of mineralized showings between the Tiger Deposit and Ocelot Zone. Assayvalues of 1.43 g/t gold and 4.14 % zinc from grab samples collected within thisbroad 7.5 km2 target area suggest the potential for the discovery ofadditional mineralized zones.
Grid geochemical surveys and detailed prospecting will be conducted in2018 at Spotlight and the Northwest target area to expand on the limited coverageto date. Unassessed areas, such as the 2 km2 zinc-in-soil anomaly 2 km south ofthe Now target, will be systematically explored in 2018.
District-Scale Mineralization Controls
In 2017, a desktop evaluation of the district-scale potential for intrusive-relatedmineralization was completed through the reinterpretation of existinggeochemical and geophysical data sets. The results of this work suggested thepotential for three distinct intrusive centres beneath the Rau Project. Theinterpretation is based on characteristic intrusive-related geochemicalsignatures correlated with areas of anomalous magnetic response.
Of the three intrusive centres identified, one correlates with the knownlocation of the Rackla Pluton and is believed to be related to the developmentof gold mineralization at the Tiger Deposit. A second intrusive centre islocated approximately 5 km to the north of Tiger in the area of the Blue Liteskarn target and the recently identified Spotlight target.The third intrusive centre is locatedapproximately 14 km to the west of Tiger, in the vicinity of the Now target andjust south of the Northwest target area. All three intrusive centres will befurther evaluated during the 2018 field program.
An updated Rau Project map with 2017 highlight results in relation tothe intrusive centres is available on ATAC's website.
QA/QC
Samples were forwarded to ALS Minerals in Whitehorse and North Vancouverwhere they were fine crushed before a 250 gram split was pulverized to betterthan 85% passing 75 microns. Pulps were then analyzed at ALS Minerals in NorthVancouver where gold determinations were carried out. Rock sample gold analyseswere by the Au-AA26 procedure that involves fire assay preparation using a 50gram charge with an atomic absorption spectroscopy finish. Initial multielement data for 49 elements was determined by the ME-MS61 procedure thatinvolves a four acid digestion followed by inductively coupled plasma massspectrometry and inductively coupled plasma atomic emission spectroscopy. Overlimit values for silver, copper, lead and zinc are determined by the Ag/Cu/Pb/Zn-OG62method that utilizes a four acid digestion followed by an atomic absorptionspectroscopy finish. Over limit values for silver determined by the OG62 methodare re-analyzed using the Ag-GRA 21 method which involves fire assaypreparation using 30 gram charge and a gravimetric finish.
All prospecting grab samples reported in this release representsignificant results only. Below detection values for gold, copper, silver, leadand zinc were encountered in grab samples from the 2017 prospecting program.
The technical information in this news release has been approved by JuliaLane, P.Geo., Vice President of Exploration for ATAC and a qualified person forthe purposes of National Instrument 43-101.
About ATAC
ATAC is a Yukon-based exploration company focused on developing Canada'sonly known Carlin-type gold district at the Rackla Gold Property. Recent workon the ~1,700 km2 property has resulted in a positive PreliminaryEconomic Assessment for the Tiger Gold Deposit, drilling of multiple high-gradeCarlin-type gold zones and the identification of numerous early-stage gold explorationtargets. ATAC and Barrick Gold Corporation recently partnered to explore theRackla Gold Property's Orion Project, with Barrick having the option to earn upto 70% of Orion by spending $55 million in exploration. ATAC is well-financedwith approximately $13 million in its treasury and recently completed anapproximately $10 million exploration program at the Osiris and Rau Projects(which are not subject to Barrick's earn-in right), while concurrently workingwith Barrick to advance the 780 km ? Orion Project.
On behalf of Management andthe Board of Directors
of ATAC Resources Ltd.
Graham Downs, President andCEO
For further information,please contact:
Graham Downs
ATAC Resources Ltd.
T: 604-687-2522 ext. 259
info@atacresources.com
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