ATAC Identifies Additional High-Grade Skarn Mineralization at Bobcat
September 9, 2019 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") is pleased to announce initial prospecting and drilling results from the Rau Project, located at the western end of its 100% owned Rackla Gold Property, Yukon.
Analyses from detailed prospecting and three diamond drill holes collared near the eastern part of the Rackla Pluton, in the Bobcat skarn target area target area, have returned high-grade gold and copper values. Assays are pending for additional proximal targets.
Exploration Highlights include:
High grade prospecting grab samples, including: 41.90 g/t gold and 10.55% copper, and 16.15 g/t gold and 7.24% copper;Drilling intersected high-grade, gold-copper skarn mineralization, including 17.75 g/t gold across 0.51 m in hole RPP-19-002 associated with a distal, structurally-dominated retrograde skarn system; and,Altered granitic intrusive rocks with positive magnetic signatures - outlined through geophysical surveys, prospecting and drilling - point toward an intrusive-related gold system across a 6 km2 area of interest.“I want to commend our team for making such exciting progress on a true greenfield exploration target in a matter of months,” commented President & CEO Graham Downs. “The early results from Bobcat have been very successful in confirming the presence of high-grade, gold-copper skarn mineralization in both drill core and surface samples. These preliminary results provide critical geological information as we target highly-prospective areas closer to the Rackla Pluton. We will shortly also be drilling to expand the near-surface oxide component of the Tiger Gold Deposit to build upon the positive 2016 economics."
Ground geophysical surveys have outlined four potential target areas for skarn mineralization with magnetic and conductivity anomalies. Prospecting and drilling have also intersected altered intrusive rocks at three of the targets, while the fourth is in an overburden covered area and will be drill tested within the next few weeks. Propylitic and endoskarn alteration occur in granite, granodiorite and pegmatite dykes, while hornfelsing and skarnification of clastic and carbonate country rocks is widespread.
Fig. 1 - Bobcat Regional Exploration and Drilling Figure: 
https://www.atacresources.com/assets/img/Tiger_Long_Section_Final.pdf
Given the improving precious metals market, ATAC believes it is important to further explore the potential of the Tiger Deposit and strategic opportunities related to near-term development at the Rau Project. ATAC also expects final approval for its planned 65-km tote road, linking the Rau Project to the Yukon highway network, by March 2020.
Highlights from the 2016 Tiger Deposit PEA, with the base case gold price of US$1,250/oz and an exchange rate of CA$1.00 equal to US$0.78, included an pre-tax 34.8% internal rate of return (IRR) and a pre-tax net present value (NPV 5%) of C$106.6 million.
Updated Tiger and Bobcat area figures can be viewed on ATAC's website.
QA/QC
Samples were forwarded to ALS Minerals in Whitehorse 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 and multi-element determinations were carried out. Gold analyses were by the Au-AA25 procedure that involves fire assay preparation using a 30 gram charge with an atomic absorption spectroscopy finish. Initial multi element data for 48 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 copper were determined by the Cu-OG62 method that utilizes a four acid digestion followed by an atomic absorption spectroscopy finish.
All prospecting grab samples reported in this release represent significant results only. Low or below detection values for gold and copper were encountered in unreported outcrop and grab samples. Vein intervals reported above were resampled using quarter core following receipt of broader assays. The same techniques described above apply to the resamples. The reported intersections are drilled thicknesses and true widths are unknown. Surface samples may not be representative.
The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., interim 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 $10 million in working capital.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, President and CEO
For further information, please contact:
Matthew Keevil, VP Corporate Affairs
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
[email protected]
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