ATAC Resources Ltd. Identifies Additional High-Grade Mineralization at its Rau Project, Yukon
January16, 2019 - Vancouver, BC - ATAC Resources Ltd.(TSX-V:ATC) ("ATAC" or the "Company") announces final 2018 exploration resultsfrom its 660 km2Rau Project,located at the western end of the Company's Rackla Gold Property, Yukon.
The remaining results from the highly prospectiveBobcat, Condor and Spotlight targets have advanced our understanding of thebroad controls on mineralization throughout the district. The results of thisprogram continue to provide compelling evidence that the Rackla Pluton is oneof multiple intrusive-related systems on the Property. Polymetallic intrusive-relatedmineralization has been identified over a 20 km trend to date, and varies from proximalskarn, through intermediate and distal carbonate replacement and manto systems.
2018 Rau Project Highlights
Follow up hand pitting at the Bobcatgold-copper skarn target returned a grab of 9.53 g/t gold; Expansion soil sampling east of Bobcat extendedexisting silver-lead-tin anomaly by 1.2km2;2.2km long gold-in-soil anomaly identified, trending west of the Spotlightskarn target; and,Hand pitting at Condor identified zone rich inzinc, including samples containing 37.49%and 36.51% zinc.“Wecontinue to be impressed by the strength and variety of targets throughout theRau Project,” commented President and CEO Graham Downs. “With over 20km of strike length identified to date, we see evidence of a substantial intrusion-relatedsystem. Much of the property still remains at a very early stage ofexploration, with strong potential for additional discoveries to be made. Welook forward to continuing to advance this project in upcoming explorationseasons, with a focus on both gold and base metal opportunities.”
Rau Trend Plan View & Samples:
http://www.atacresources.com/assets/docs/RauGoldinSoil.pdf
Bobcat
Bobcat is a gold-copper skarn targetlocated 1.5 km east of the mapped surface expression of the Rackla Pluton. Prospectingand hand pitting in early 2018 returned numerous multi-gram gold and multi-percentcopper grab samples; including: 6.07 g/tgold with 7.41% copper; and 5.08 g/tgold with 3.69% copper (please see ATAC news release datedAugust 21, 2018).
Follow-up work completed inSeptember identified additional gold mineralization including a surface grabsample grading 9.53 g/t gold,broadening the target area of skarn mineralization to approximately 250 m in length. Expanded soil grid coverage east of Bobcat has identified a 1.2 kmby 1 km soil anomaly for silver, lead and tin. The anomaly remains open to theeast. The furthest east line of this grid contained a sample grading 14.55 g/tsilver in soil.
Gold-copper skarn mineralization atBobcat is typically observed within tremolite bearing veins with varyingconcentrations of chalcopyrite and copper oxides hosted in fine grainedlimestone.This style of mineralizationis characteristic of distal, retrograde skarn alteration related to anintrusive center. Host rocks observed in the Bobcat area consist mainly of finegrained limestone, marble, hornfelsed fine-grainedsiliciclastic, andminor volcanic rocks.
Bobcat Annotated Photo & Samples:
http://www.atacresources.com/assets/docs/BobcatAerialPhoto.pdf
Spotlight
The Spotlight skarn target is located 6.5 km north of Bobcat.Work in 2018 included soil sampling and prospecting, to follow-up the 2017discovery of high grade grab samples containing 7,080 g/t silver and 3.27g/t gold.These samples werecollected from a 500 m long gold and silver soil anomaly.
Soil sampling in 2018 expanded the gold and silveranomaly to over 2.2 km in length. Highlight in-soil metal values 0.70g/t gold and 15.20 g/t silver.This anomaly remains open to the north, eastand west.
One day of detailed prospecting was conducted in theSpotlight area during 2018. Rock samples returning 4,090 g/t silver and 1,765 g/t silver in limonite bearing quartzveins were collected near the initial discovery. Prospecting 1.2 km along theanomalous soil trend returned brecciated quartz-siderite material containing 2.17 g/t gold and 1.38 g/t gold.
Significant hornfels, marble alteration and abundanttremolite development indicate high fluid flow, likely from a nearby intrusivesystem. These observations are supported by the development of gold-copper-tungstenskarn mineralization at the historic Blue Lite occurrence located 1 km to thesouth of Spotlight.
Spotlight Gold-in-Soil:
http://www.atacresources.com/assets/docs/SpotlightGoldinSoil.pdf
Condor
The Condor target, located 1.5 km to the northwest ofthe Tiger Deposit was assessed in detail in 2018 to follow-up on an area ofhigh grade prospecting samples (17.00g/t gold and 23.30% zinc) collectedin 2017.
Work in 2018 focused on a 100 m wide vegetationanomaly located upslope of the 2017 samples. Hand pits were excavated on a grid pattern across the vegetation anomalyand a variety of samples containing strongly oxidized sulphides hosted in dolostonesand volcanic rocks were encountered. Highlight results from pit samples arepresented below:
| Sample | Au (g/t) | Ag (g/t) | Zn (%) | Pb (%) |
|---|---|---|---|---|
| W591494 | 1.85 | 103 | — | 4.22 |
| W591525 | — | 45 | 37.49 | — |
| W591508 | — | — | 36.51 | — |
| W591507 | 1.06 | — | — | 1.38 |
| W591523 | — | 133 | 1.44 | — |
| W591499 | — | 42 | 22.60 | — |
*Note: dashes indicate no significant result for that element.
Condor is situated in a similar stratigraphic andstructural environment to the Tiger Deposit, with a series of carbonatehorizons interlayered with volcanoclastic flows.Mineralization at Condor is thought to havedeveloped at the structural intersection of a regional scale northwesterlytrending strain zone with a northerly trending brittle fault zone.
Rau Geological Model
Conceptual Rau Geological Model:
http://www.atacresources.com/assets/docs/ModelRauProject.pdf
Since 2007, a total of 22 targets with gold and/or base metal mineralizationhave been discovered by ATAC across a 20 km trend at the Rau Property. Thesetargets comprise several distinct styles of intrusive-related mineralization, demonstratingsystematic zonation outwards from the Rackla Pluton.
While underexplored, the Rackla Pluton represents oneof the proposed hydrothermal fluid sources for the district and may havemineralized porphyry potential.Theneighbouring Bobcat target reflects outward fluid flow and the development of gold-copperskarn mineralization.This mineralzonation continues to transition outwards to a gold-silver dominatedcarbonate-replacement system exemplified by the Tiger Gold Deposit.At the periphery, silver-zinc-leadmanto-style mineralization has developed at the Ocelot target, demonstratingdistal components of fluid flow.
Systematicexploration at the Rau Project has revealed an exciting geological environment,which has already led to multiple discoveries and suggests a robust system withsignificant additional potential.Planning for the 2019 field program is currently underway anddetails will be announced in the coming months.
QA/QC
Samples were forwardedto ALS Minerals in Whitehorse where they were fine crushed before a 250 gramsplit was pulverized to better than 85% passing 75 microns. Pulps were thenanalyzed at ALS Minerals in North Vancouver where gold determinations werecarried out. Rock sample gold analyses were by the Au-AA26 procedure thatinvolves fire assay preparation using a 50 gram charge with an atomicabsorption spectroscopy finish. Initial multi element data for 49 elements wasdetermined for rocks by the ME-MS61 procedure that involves a four aciddigestion followed by inductively coupled plasma mass spectrometry andinductively coupled plasma atomic emission spectroscopy. Over limit values for silver,lead and zinc are determined by the Ag/Pb/Zn-OG62 method that utilizes a fouracid digestion followed by an atomic emission spectroscopy finish. Over limitvalues for silver determined by the Ag-OG62 method are re-analyzed using theAg-GRA21 method which involves fire assay preparation using 30 gram charge anda gravimetric finish. Over limit values for zinc determined by the Zn-OG62method are re-analyzed using the Zn-VOL50 method involving four acid digestionfollowed by titration. Soil sample gold analyses were by the Au-ICP21 techniquethat involves fire assay preparation using a 30 gram charge with an inductivelycoupled plasma atomic emission spectrometry finish. Multi element data for 51elements was determined for soils by the ME-MS41 procedure that involves anaqua regia digestion followed by inductively coupled plasma mass spectrometryand inductively coupled plasma atomic emission spectroscopy.
All prospecting grabsamples reported in this release represent significant results only. Belowdetection values for gold, copper, silver, lead and zinc were encountered ingrab samples from the 2018 program.
The technicalinformation in this news release has been approved by Julia Lane, P.Geo., VicePresident of Exploration for ATAC and a qualified person for the purposes ofNational Instrument 43-101.
About ATAC
ATAC is aYukon-based exploration company focused on developing Canada's only Carlin-typegold district and intrusion-related polymetallic targets at the Rackla GoldProperty. Work on the ~1,700 km2 property has resulted in the OsirisProject Inferred Mineral Resource of 1,685,000 oz of gold at an average gradeof 4.23 g/t (in 12.4 Mt), a positive Preliminary Economic Assessment for theTiger Gold Deposit and multiple base metal discoveries. ATAC is well-financedwith approximately $10 million in working capital.
On behalfof Management and the Board of Directors of ATAC Resources Ltd.
GrahamDowns, President and CEO
Forfurther information, please contact:
MatthewKeevil, VP, Corporate Affairs
ATACResources Ltd.
T:604-687-2522 ext. 260
mkeevil@atacresources.com
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