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Atac Resources Ltd
Symbol ATC
Shares Issued 117,794,577
Close 2014-10-27 C$ 0.51
Market Cap C$ 60,075,234
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Atac Resources defines 10 drill targets at Rackla

2014-10-28 11:16 ET - News Release

Mr. Graham Downs reports

ATAC ADVANCES CARLIN-TYPE GOLD TARGETS IN THE ANUBIS AREA, RACKLA GOLD PROJECT - YUKON

Atac Resources Ltd. is providing an update on exploration conducted in the Anubis area within the Nadaleen trend of Atac's 100-per-cent-owned, 1,700-square-kilometre Rackla gold project, Yukon Territory.

Highlights:

  • Trenching and geochemical sampling have outlined a cumulative strike length of eight kilometres of elevated pathfinder element plus gold response in overburden and bedrock along favourable northwest-trending extensional faults.
  • The anomalies and elevated gold response are strongest where major and secondary faults intersect.
  • The geochemical anomalies occur with well-developed Carlin-type hydrothermal alteration and the associated fault zones are considered to be feeder fault systems.
  • The overall 18 square km geochemical footprint of the Anubis area, together with peripheral occurrences of high-grade silver-lead-gold mineralization at the Corona and Zodiac targets, suggests a very large Carlin-type system.
  • Within this system, 10 priority exploration targets have been identified for follow-up drilling.

"The systematic 2014 exploration program was very successful in achieving Atac's objective of tracing known gold-bearing faults and identifying new mineralized crosscutting faults over the largely untested regional-scale mineralizing system that underlies the Nadaleen trend," stated Julia Lane, Atac's Rackla gold project manager. "As with many Carlin-type deposits in Nevada, understanding mineralizing structures and where they interact with receptive calcareous host rocks is a critical step before targeting drill holes. The focused 2014 exploration program at Anubis generated a large amount of exploration data that will be compiled in the coming months to prioritize drill targets."

During 2014, Atac completed an extensive surface exploration program at the 18 square km Anubis area, which is located 10 km west of the Osiris cluster of gold zones -- the primary focus of Atac's exploration since 2011. The Anubis area hosts over 10 gold exploration targets, including the Anubis discovery outcrop, where prospecting grab sample assays ranged from below detection to 139 grams per tonne gold. Subsequent drilling beneath the discovery outcrop returned 8.51 metres of 19.85 g/t gold (OS-12-001). The Anubis area displays many of the same structural controls and mineralizing characteristics as the Osiris area and is now considered Atac's second district-scale Carlin-type gold target within the broader 50 km long Nadaleen trend.

Exploration work in 2014 in the Anubis area consisted of systematic prospecting, mapping, excavator trenching and overburden auger drilling. The goal was to evaluate the distribution of gold mineralization and pathfinder element anomalies within and adjacent to two major northwest-trending extensional faults. Excavator trenching and overburden drilling were specifically used to locate the bedrock source of subdued gold-in-soil response typically associated with Carlin-type mineralization in areas of shallow overburden. The 2014 program at the Anubis area resulted in the completion of 1,050 m of trenching, 50 overburden drill holes, and the collection of 172 soil samples and 786 rock samples.

The 2014 program results have enabled Atac to: better define geochemical anomalies and track the geochemical response back to areas of bedrock alteration; trace known faults; and identify new intersecting structures that are the potential feeder systems for mineralizing fluids. Excavator trenching along the Anubis fault was particularly successful in identifying areas of complex faulting that are enveloped by zones of hydrothermal alteration. Trenching of host limestone and calcareous shale returned gold values from below detection up to 2.30 g/t gold over five m. The identification of these structures in relation to geochemical anomalies and characteristic Carlin-type alteration is a critical milestone for developing drill targets. Now that the hydrothermal footprint has been outlined, the next step will be targeted drilling to test the intersection of feeder fault systems with favourable host rock units, such as the Anubis area silty limestones.

Updated maps and figures of the Anubis area can be found on Atac's website.

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. Pulps were then analyzed at ALS Minerals in North Vancouver. Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50-gram charge with an atomic absorption spectroscopy finish while 49 other elements were determined by the ME-MS61m procedure that involves a four-acid digestion followed by inductively coupled plasma mass spectrometry and inductively coupled plasma atomic emission spectroscopy. Samples that exceeded the detection limit of the routine methods are assayed for silver, lead and zinc by the Ag/Pb/Zn-OG62 method involving inductively coupled plasma-atomic emission spectroscopy.

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, geologist with Archer, Cathro & Associates (1981) Ltd., qualified person for the purposes of National Instrument 43-101.

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