The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
ATC:TSX-V
President: Robert C. Carne, M.Sc., P.Geo.
Chief Executive Officer:
Graham N. Downs
Ian J. Talbot: Chief Operating Officer
ATAC Resources Ltd., a member of the Strategic Exploration Group, is an exploration-stage company concentrating as much effort as possible on the Rackla Gold Project including Rau and Nadaleen geological trends situated at the northern edge of the Tintina Gold Belt in the Mayo Mining District of east-central Yukon Territory.
The project encompasses more than 8,000 mineral claims and covers 1,600 square kilometers (about 618 square miles) in an east-west extending land package about 185 kilometers 114 miles) long by 15 kilometers (10 miles) wide.
Atac May 31 reported commencement of a 40,000-meter drilling program at Rackla, part of a comprehensive C$25 million exploration program utilizing eight diamond drills in 2011 and focusing on significant Carlin-type gold mineralization discovered in late 2010.
Work planned included 200-250 holes - 35,000 meters at the Nadaleen Trend and Osiris area targets and 5,000 meters at the Rau Trend and Tiger area targets; definition and step-out diamond drilling to expand the Osiris, Conrad, Eaton and Isis zones within the Nadaleen Trend; and comprehensive geological mapping throughout the Rackla Gold Belt.
Prospecting and silt and soil sampling of the majority of streams and ridges along the project will be used to identify any exposed mineralized zones similar to Osiris.
Scout drill testing of new targets identified late in 2010 that were not tested due to onset of winter were carried out in June, and one drill and crew was solely allocated to test newly discovered targets throughout the 2011 exploration season.
Atac Aug. 30 reported assay results for the first five diamond drill holes from the Osiris zone as well as a new bedrock gold discovery within the Nadaleen Trend.
Among the results, a 32.01-meter interval averaged 4.25 g/t gold and included 10.59 meters averaging 11.04 g/t gold.
The company also said it discovered the Osiris North Zone by excavator trenching a surface arsenic anomaly down to bedrock and exposing about 10 meters of the Osiris Shear System.
Trench chip samples assayed up to 80.40 g/t gold over 1.80 meters.
The Osiris North zone trench was truncated at both ends due to thick overburden, Atac added.
While weather permitted, the company had two drills testing the higher elevation parts of the Osiris Shear system with a series of widely spaced drill locations along strike toward the Osiris North zone trench.
Diamond drilling also was planned beneath the Osiris North Zone exposure and along the trace of the lower elevation portions of the Osiris Shear later in the field season for logistical reasons.
In September, an additional drill was added to the two drills currently testing the Conrad Zone where hole OS-11-10 intersected 114.93 meters grading 3.15 g/t gold.
Atac also said a sixth drill began to test priority exploration targets identified during 2011 sampling and prospecting in the Osiris area.
In June, Atac reported a significant silver-lead-zinc discovery at the Ocelot target beneath a known but previously undrilled surface gossan.
The target is located within the Rau Trend in the western portion of the Rackla project.
In December, the explorer reported intersecting 32.64 meters averaging 8.91 gold in infill drilling at the Tiger Zone, also located within the Rau Trend.
These results confirmed the high-grade gold mineralization and excellent continuity of the near-surface, blanket-like oxide portion of this deposit.
No further drilling results have been reported for the Tiger Zone, but Atac anticipated completing a NI 43-101 resource estimate for the deposit in the third quarter of 2011.
The company also explored five satellite oxide gold targets located within 5 kilometers (3 miles) of the Tiger zone, including the Cheetah and Puma targets.
Atac was active at the Cheetah Zone as well as two other exploration targets in the Tiger zone area in July and August 2011.
Three holes totaling 483 meters were drilled on Cheetah and two holes totaling 342 meters on the nearby, similar Puma target.
Also, the Now gold soil geochemical anomaly was tested with three holes totaling 796 meters.
Cash and short-term deposits: C$33.14 million (at June 30, 2011)
Working capital: C$37.85 million (at June 30, 2011) (raised C$22.07 million in private placements in August 2010)
Market capitalization: C$488.4 million (at Sept. 2, 2011)
Suite 1016 - 510 West Hastings St.
Vancouver, British Columbia
Canada V6B 1L8
Tel: 604-687-2522
Fax: 604-688-2578
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