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Atac Resources Ltd
Symbol ATC
Shares Issued 117,794,577
Close 2014-10-06 C$ 0.63
Market Cap C$ 74,210,584
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Atac drills 40.22 m of 6.57 g/t Au at Rackla

2014-10-07 08:34 ET - News Release

Mr. Graham Downs reports

ATAC RESOURCES INTERSECTS 40.22 M OF 6.57 G/T GOLD, RACKLA GOLD PROJECT-YUKON

Atac Resources Ltd. has released results from the final three 2014 diamond drill holes recently completed at the Conrad zone, located within the Nadaleen trend at the eastern end of Atac's 100-per-cent-owned 1,700-square-kilometre Rackla gold project in central Yukon.

Highlights:

  • All three step-out holes at the Conrad Lower zone hit high-grade gold mineralization and expand the zone.
  • Lower zone gold mineralization occurs as multiple stacked, flat-lying bodies that are concentrated along a vertical siltstone-limestone contact -- the Lower zone remains open along strike and at depth.
  • Newly discovered high-grade gold mineralization below the Lower zone opens up an entirely new area for exploration.

                          DRILL RESULTS

Conrad zone              From         To     Interval         Au
drill hole                (m)        (m)          (m)      (g/t)

OS-12-228              321.50     361.72        40.22       6.57
incl.                  323.41     335.28        11.87      18.18
and                    426.72     451.10        24.38       3.00
OS-12-229              281.86     301.10        19.24       4.21
and                    371.86     381.00         9.14       2.80
and                    448.06     484.63        36.57       5.06
incl.                  467.91     481.49        13.58       9.40
OS-12-230              624.84     667.51        42.67       3.03
incl.                  630.94     637.03         6.09      13.61
and                    697.62     719.33        21.71       3.15
incl.                  710.18     719.33         9.15       5.85

Note
The reported intersections are drilled thicknesses and are 
believed to represent approximately 90 to 100-per-cent
true widths.                       

"The 2014 Conrad drilling program achieved its objective, with all four holes expanding the Lower zone with high-grade gold intersections either along strike or below known mineralization," stated Julia Lane, Atac's Rackla gold project manager. "Only 300 m of the presently known 800 m long favourable siltstone-limestone contact has been tested and the Lower zone remains open to expansion along strike and below the current tier of drill intersections."

Carlin-type gold mineralization at the Conrad zone occurs in both an upper and lower zone and is hosted in multiple structural and stratigraphic settings. Mineralization at the Conrad Lower zone is characterized by strong alteration and mineralization within multiple stacked, flat-lying bodies proximal to a laterally extensive near vertical siltstone-limestone contact. The final three 2014 drill holes were targeted based on recent successful drilling at the Lower zone which intersected 30.79 m of 9.50 g/t gold (hole OS-14-227). Updated cross-sections can be viewed on Atac's website.

All three holes were drilled west of hole OS-14-227 (see news release dated Aug. 26, 2014) and intersected high-grade gold mineralization. Holes OS-14-228 and OS-14-229 further demonstrate the lateral continuity and high-grade nature of the Lower zone with intercepts of 40.22 m of 6.57 g/t gold and 36.57 m of 5.06 g/t gold, respectively. The final hole, OS-14-230 intersected two new significant gold intervals that returned 42.67 m of 3.03 g/t gold and 21.71 m of 3.15 g/t gold, beneath previously known Conrad mineralization. Mineralization at the Lower zone remains open along strike and at depth.

An extensive trenching and auger drilling program was recently completed within the 12-square-kilometre Anubis area located 10 km west of the Osiris cluster of gold zones. Results from this program will be released when results have been received and compiled.

QA/QC (quality assurance/quality control)

Samples were forwarded to ALS Minerals in Whitehorse where they were fine crushed before a 250-gram split was pulverized to better than 85 per cent passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver, B.C., where gold determinations were carried out. Splits of the pulverized fraction were dissolved using a multiacid digestion and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) and 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 (AAS) finish. Mercury analyses were digested with aqua regia and analyzed by inductively coupled plasma mass spectrometry (ICP-MS).

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. All of the samples included in this news release have passed the QA/QC procedures as described above.

The technical information in this news release has been approved by Julia Lane, PGeo, the Rackla gold project manager and a geologist with Archer, Cathro & Associates (1981) Ltd., and a qualified person for the purposes of National Instrument 43-101.

We seek Safe Harbor.

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