ATAC Resources Ltd. Drills 9.08 g/t Gold over 16.76 Metres at its Anubis Discovery Located 10 km West of Osiris
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to announce the results from the remaining five 2012 diamond drill holes at the recently discovered Anubis Carlin-type gold discovery within the Nadaleen Trend on its 100% owned Rackla Gold Project, Yukon.
News release highlights:
-- Hole AN-12-003 intersected 9.08 g/t gold over 16.76 m and bottomed in
mineralization grading 4.54 g/t gold over 1.52 m. AN-12-003 is an
undercut of Anubis discovery hole AN-12-001 (19.85 g/t gold over 8.51
-- Preliminary soil geochemical survey results indicate extensive regional
pathfinder element and gold anomalies along a prominent recessive linear
zone that extends 5 km to the west and 1.6 km to the east from Anubis.
"The multiple gold intersections down-dip of the initial discovery hole at Anubis confirm the existence of a significant gold mineralizing system that will be a major focus of drilling in 2013," stated Graham Downs, ATAC's CEO.
The Anubis target area is situated along a well-defined recessive regional-scale lineament characterized by a 1 km northwest trending linear gold-in-soil anomaly within a larger and open ended 1.5 by 2.5 km arsenic, thallium, antimony and mercury soil anomaly. Favourable mid-Paleozoic carbonate rocks with interbedded calcareous siltstones and shale underlie the target area. The combination of both the extensive geochemical anomalies and favourable rocks in the Anubis target area is very significant as it is indicative of the potential for multiple zones within the Anubis area, similar to the Osiris, Isis East, Conrad and Sunrise area, 10 km to the east.
"We are very encouraged by the exploration potential at Anubis as demonstrated by the strength and size of the geochemical anomalies, especially given the generally subdued terrane, poor bedrock exposure and early stage of the program," stated Robert Carne, ATAC's President.
The Anubis discovery consists of a partially exposed outcrop of highly fractured, strongly folded, silicified and decalcified limestone breccia. The breccia occurs within calcareous siltstone and shale units along a regional fault zone. Four grab samples collected along the exposure returned 139 g/t gold, 125 g/t gold, 122 g/t gold and 84.2 g/t gold.
Diamond drill holes AN-12-002 and 003 targeted the on-section, down-dip potential of the Anubis discovery hole AN-12-001 that intersected 19.85 g/t gold over 8.51 m. Hole AN-12-003 intersected a broad zone of high-grade gold mineralization that yielded 9.08 g/t gold over 16.76 m (69.19 m to 85.95 m) and bottomed in 4.54 g/t gold over 1.52 m (153.01 m to 154.53 m) while hole AN-12-002 intersected 0.88 g/t gold over 7.69 m (117.96 m to 125.65 m). Although the geometries and controls of gold mineralization at Anubis are not fully understood due to limited drilling, the zone remains open in all directions and results warrant a significant drill program in 2013. The reported intersections are drilled thickness and true widths are unknown.
Holes AN-12-004 and 005 were drilled about half a kilometer to the northwest of the Anubis discovery hole and were the first two holes to test for the source of hand-pit soil profile samples that yielded values ranging from 1.01 g/t gold to a maximum of 5.59 g/t gold. Both holes intersected intensely decalcified and clay-altered limestone with anomalous gold at or near the fault contact between the limestone and black shale. The source of the surface gold bearing material has yet to be identified. Further drilling is required and will be conducted in the spring of 2013.
The last 2012 drill hole completed at the Anubis target area (AN-12-006) was located on a parallel lineament 500 m northeast of the Anubis discovery hole and directly above a hand-pit profile soil sample that graded 0.88 g/t gold. Encouraging alteration was encountered from the top of the hole to a depth of 124 m. This zone of alteration comprised of decalcification and minor silicification of limestone, accompanied by highly anomalous Carlin-type pathfinder elements and intermittent gold mineralization ranging from below detection to 1.23 g/t gold. Additional drilling will be conducted in this area in 2013.
Associated maps and figures can be viewed on ATAC's website at www.atacresources.com.
Conrad Drill Results
Diamond drill results for the remaining Conrad Zone drill holes will be released once received and compiled.
Samples were forwarded to ALS Minerals in Whitehorse, Y.T. or North Vancouver, B.C. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver where gold determinations were carried out and splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Mercury analyses are performed using atomic absorption spectroscopy (AAS).
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President of ATAC Resources Ltd. and a qualified person for the purposes of National Instrument 43-101.
ATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold discoveries at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO
ATAC Resources Ltd.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors.
FOR FURTHER INFORMATION PLEASE CONTACT:
ATAC Resources Ltd.
Manager, Corporate Communications
604-687-2522 ext. 260