Results from the first-phase exploration program at Atac Resources' (TSXV: ATF) 11.5-sq.-km Airstrip target, part of the 1,700-sq.-km Rackla gold property in east-central Yukon, have defined an orogenic gold system. Drilling has outlined mineralization over an area of 1,000 metres by 500 metres and across 300 vertical metres.
Atac has completed 12 rotary air blast (RAB) holes to date, in addition to prospecting, trenching, mapping and trail building at Airstrip.
RAB drill results include both broad intervals of mineralization, including 37 metres of 0.51 gram gold per tonne from 40 metres, as well as higher-grade intervals, which include 1.5 metres of 3.11 grams gold starting at 32 metres.
Rock samples from the area returned up to 6.39 grams gold per tonne.
"The identification of an orogenic gold system at the Airstrip target is very exciting," Graham Downs, the company's president and chief executive, said in a statement. "These types of systems have the potential to host significant bulk-tonnage gold deposits, and this is the first identification of this style of mineralization in the area."
Downs added that diamond drilling at Airstrip is now underway, with two diamond rigs and one RAB unit drilling the area. As the Airstrip anomaly covers over 6 km of strike, additional RAB drilling is also planned to "evaluate the target at the kilometre-scale."
Airstrip is an 11.5-sq.-km gold-in-soil anomaly, with values of up to 2.36 grams gold, currently interpreted as a Phanerozoic-age orogenic gold system. The three drills are expected to continue working through to the end of September.
Atac holds 100% of the 1,700-sq.-km Rackla gold project, made up of the Rau, Orion and Osiris properties.
Rau includes the Tiger carbonate replacement deposit, with measured and indicated resources of 4.5 million tonnes grading 3.19 grams gold, for a total of 464,000 oz. gold. Airstrip also sits within the Rau portion of the property.
Earlier this year, Atac tabled an updated preliminary economic assessment for Tiger.
Osiris, with the first discovery of Carlin-type gold in Canada, features total inferred mineral resources, across four zones, of 12.4 million tonnes, at 4.23 grams gold, containing 1.69 million oz. gold.
- This article first appeared in The Canadian Mining Journal.