|By Marketwired .||
|June 16, 2014 08:00 AM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/16/14 -- ATAC Resources Ltd. ("ATAC") (TSX VENTURE:ATC) is pleased to announce the commencement of the Phase I drilling and exploration program at its 100% owned Rackla Gold Project, Yukon. Phase I work will focus on recent Carlin-type gold discoveries at the Osiris and Anubis areas within the Nadaleen Trend.
"Year over year we continue to make new gold discoveries and expand high-grade gold zones at the Rackla Gold Project. The 2014 Phase I exploration program is specifically designed to continue our excellent discovery rate and support our confidence in the global resource potential of the project," stated Graham Downs, ATAC's CEO. "Phase I results from trenching at seventeen Anubis area surface discoveries and anomalies combined with step-out drilling at the high-grade Sunrise and Anubis Zones will provide steady news flow and be used to guide the fully-funded Phase II program."
Sunrise Zone step-out diamond drilling is underway directly west of two of the final 2013 holes that returned 19.81 m of 5.54 g/t gold (OS-13-214) and 16.76 m of 6.76 g/t gold (OS-13-217). The mineralization at the Sunrise Zone is open to depth and along strike to the west toward the higher grade core of the Osiris Zone.
Drill pad construction at the Anubis Zone is underway in preparation for diamond drilling. To date, only three holes have been completed on a single section line at the Anubis Zone. Step-out drilling here will test the on-strike extension of hole AN-12-001 which intersected 8.51 m of 19.85 g/t gold and AN-12-003 which intersected 16.76 m of 9.09 g/t gold (69.19 m to 85.95 m) and bottomed in gold mineralization which graded 4.54 g/t gold over 1.52 m (153.01 m to 154.53 m).
Excavator trenching and pitting within the Anubis area is set to begin upon completion of the Anubis drill pad construction. Excavator work will be conducted on nine surface showings and eight untested geochemical anomalies. Priority trenching will be conducted at the Dorado target, which returned multi-gram gold grab samples from hand pits excavated in 2013.
Detailed descriptions of the proposed Phase I work are set out in the Company's April 15, 2014 news release and drill plan maps for the Sunrise Zone and Anubis area targets are available on ATAC's website. True widths for all highlighted drill holes within the Osiris and Anubis areas are estimated to be 60 - 100% of intersected widths. Grab samples taken from the Anubis area trenches and pits range from below detection to 139 g/t gold.
The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President and a Director of ATAC Resources Ltd., and a qualified person for the purposes of National Instrument 43-101.
ATAC Resources Ltd. is a Yukon-based exploration company focused on developing Canada's only Carlin-type gold district at its 100% owned Rackla Gold Project. Recent exploration on the 1,700 sq/km project has resulted in the delineation of the Tiger Gold Deposit, drilling of multiple high-grade Carlin-type gold zones and the identification of numerous early-stage gold exploration targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC is well-positioned with over $25 million in its treasury.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors.