Wednesday 21st November 2018

Resource Clips

ATAC reports Yukon Assays up to 6.08 g/t Gold over 26.1m

Resource Clips - essential news on junior gold mining and junior silver miningATAC Resources Ltd TSXV:ATC announced results from its Rackla Gold Project in central Yukon. Highlights include

6.08 g/t gold over 26.1 metres
3.09 g/t over 31 metres
(including 4.09 g/t over 20.6 metres)
4.14 g/t over 22 metres
(including 7.18 g/t over 10.7 metres)
3.49 g/t over 18.5 metres
(including 7.64 g/t over 6.3 metres)
2.77 g/t over 22.9 metres
(including 3.78 over 9.2 metres)
3.4 g/t over 15.2 metres

Manager of Corporate Communications Vanessa Pickering tells, “The Rackla Gold Belt is 1,600 square kilometres, one of the largest contiguous land packages in the Yukon, if not the largest. It includes the Rau Trend with the Tiger Zone deposit and the Nadaleen Trend, which contains the Osiris area with its Carlin-type mineralization.

We’re not chasing a small deposit. It would have to be five-million-plus ounces out on the east end of the property to justify building roads—Vanessa Pickering

“I think today’s results are in line with what we expected, and we’re pleased to see how it’s holding together. We’re quite happy with what we’ve done this year. We expect to do about the same next year.

“We have about 50 holes left to report, and that’s from both sides of the property, the Nadaleen Trend and the Rau Trend. We’ve just done a resource for the west side of the property, and we’d like to know more about the east side, which is where today’s results came from.”

Released October 20, the project’s Tiger Deposit has a resource estimate of 7.1 million tonnes grading 2.21 g/t for 508,000 ounces gold indicated and 8.2 million tonnes grading 1.09 g/t for 290,200 ounces gold inferred.

“A lot of that is high-grade oxide gold, near-surface gold,” Pickering says.

“The Rau Trend, which is the area we worked on from about 2006 to 2010 and a bit this year, is not Carlin-type mineralization. It’s kind of Nevada-esque, we would say, but not Carlin. But it’s completely different from what’s at the east end, 100 kilometres at the Nadaleen Trend, which is the Carlin-type mineralization that we’re chasing. It’s Canada’s only Carlin-type mineralization.

“We’ve also found silver-lead-zinc at the Ocelot Discovery in the Rau Trend,” she adds. “Of course, we’re in the Keno Hill silver-mining district.

“At the west side of the property we’re about 48 or 50 clicks from the government-maintained highway that goes through the Keno Hill Mining District. Infrastructure is a big consideration in what we do. The new discovery, the Carlin-type trend, is about 100 kilometres away from the other area. So that 48-kilometre proposed access route would grow exponentially. For that reason, we’re not chasing a small deposit. It would have to be five-million-plus ounces out on the east end of the property to justify building roads. Right now, we are fixed-wing; we have three airstrips on the property, one at the Rau Trend, one sort of in the middle and one at the Nadaleen Trend. Two of those airstrips were commissioned just this year. So that’s going to take the weight off of being entirely helicopter-supported. This has to have enough ounces to justify building infrastructure out there.

“ATAC is purely an exploration company,” she points out. “That’s what we’re good at—making discoveries, making grassroots discoveries using the technical knowledge of our team. We don’t go into production, it’s not our business focus.”

Looking ahead to next year, Pickering says, “We probably won’t resume drilling until May, when the snow goes. The guys shut down just last week, so the drilling season goes until mid-October or the end of October. This year we’re building a new camp out at the east end, the Carlin trend. We had our guys out there in March to start building. So all they have to do now is go in and flick on the lights. The drills are there now, waiting for them. As soon as the snow goes, they can start drilling.”

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Vanessa Pickering
Manager of Corporate Communications
604.687.2522 x 60

by Greg Klein

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