The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
ATC: TSX-V
President & CEO: Graham Downs
VP, exploration: Julia Lane
Chief Operating Officer: Ian Talbot
In 2015 ATAC Resources Ltd. continued to expand the Carlin-type gold discoveries made at its Rackla Gold project in Yukon Territory with a C$3 million phase-1 exploration program that began in June.
This work primarily focused on the Conrad Zone and 18-sqaure-kilometer Anubis cluster within the Nadaleen Trend, a 30-kilometer- (20 miles) long subset of the company's east-west extending land package that blankets an area roughly 185 kilometers (114 miles) long by roughly 10 kilometers (6 miles) wide.
At Conrad, the company's most advanced Carlin-type gold zone, three layers of Carlin-type mineralization - Upper, Middle and Lower zones - has been found near a vertical siltstone-limestone contact at Conrad.
The Upper zone has been continuously traced by shallow drilling over a strike length of 800 meters and remains open to the east and west.
Hole OS-12-114, the best hole drilled in this shallowest zone, cut 42.9 meters averaging 18.44 grams per metric ton gold.
The 2015 program focused on targeting an untested area along the siltstone-limestone contact between the Upper and Middle zones.
Mineralization in the Middle zone is characterized by strong alteration and mineralization within multiple stacked, flat-lying bodies.
The Lower zone, discovered in 2014, opens up a new area for Conrad exploration.
The discovery hole, OS-14-230, cut 42.67 meters of 3.03 g/t gold and 21.71 meters of 3.15 g/t gold, beneath previously known Conrad mineralization.
The 2015 program also included track-mounted rotary air blast drilling as a cost-effective way to collect bedrock samples at the Anubis cluster, a large Carlin-type prospect about 10 kilometers (six miles) east of Conrad.
One hole of this RAB program, ARB-15-026, cut 47.24 meters averaging 3.79 g/t gold at the newly discovered Orion target located about 300 meters west of the Anubis Zone.
ATAC President and CEO Graham Downs described the Orion discovery hole as "the most significant drill intersection to date within the 18-square-kilometer Anubis cluster of targets." He also said the RAB drilling has proven to be an effective, yet low-cost exploration tool in these tough market conditions.
ATAC is a member of the Strategic Exploration Group, a collection of junior resource companies focused on exploring northwestern Canada. Members of the group enjoy a close working relationship with Archer, Cathro & Associates (1981) Ltd., a geological consulting firm with extensive knowledge and exploration expertise in the Yukon Territory and northern British Columbia.
Cash and short-term deposits: C$19.2 million (June 30, 2015)
Working capital: C$18.4 million (June 30, 2015)
Market capitalization: C$57.7 million (Sept. 17, 2015)
Suite 1016 - 510 West Hastings Street
Vancouver, British Columbia
Canada V6B 1L8
Tel: 604-688-2568 Fax: 604-688-2578
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