ATAC Resources Ltd. Intersects 24 g/t Gold over 28 Metres in the First 2009 Drill Hole at its Rau Gold Project
July 7, 2009
July 7, 2009 - ATAC Resources Ltd. (“ATAC”) (TSX-V:ATC) is pleased to announce that assays have been received for the first 2009 hole drilled on its wholly owned Rau property.
Gold mineralization in Hole 09-19 started 43.59 metres from surface and extended to 85.34 metres depth. At the top of the zone, the hole passed through 28.04 m of limestone-hosted, stratabound massive iron and arsenic-rich oxides that averaged 24.07 g/t gold as shown in the table below. True width of the interval is about 23 m. Cutting the two high samples to 34 g/t produces a weighted average grade of 10.3 g/t gold for the interval. Weighted average core recovery for the 28 m interval was 79%. No traces of sulphide minerals were seen during the core logging and no primary structures were visible with the exception of possible breccia textures in one sample interval.
|Sample No.||From (m)||To (m)||Width (m)||Recovery (%)||Au (g/t)||Description|
|H246808||48.77||51.05||2.28||84||4.17||reddish brown oxide|
|H246809||51.05||53.95||2.90||66||162.00||reddish brown oxide|
|H246811||53.95||56.39||2.44||76||40.40||pale greenish grey to pale yellow oxide breccia (?)|
|H246813||56.39||59.44||3.05||87||2.12||dark reddish brown oxide, very competent|
|H246814||59.44||62.48||3.04||67||0.74||orange-red and yellow-brown oxide|
|H246816||65.23||68.58||3.35||90||7.82||dark reddish brown oxide|
|H246817||68.58||71.63||3.05||61||5.24||dark reddish brown oxide|
An additional 13.71 m of oxide material intersected between 71.63 and 85.34 m returned a weighted average of 0.39 g/t gold.
Hole 09-19 was a 100 metre step out on Section 10+300W to the northwest of Hole 08-16 (Section 10+200W), which was the most northwesterly hole drilled in 2008 along a 400 m long by 150 m wide mineralized trend that is open along strike at both ends. Hole 08-16 intersected 53.95 metres of oxide mineralization that averaged 2.69 g/t gold (the hole ended in oxide mineralization and it was abandoned prematurely due to poor ground conditions).
Two drills continue to explore the property on a 24 hour per day, seven day a week basis. A large drill, equipped with large core diameter (HQ) split tube equipment to maximize recovery, is testing oxide mineralization while a smaller drill is being used to explore limits of the mineralized system along strike, across the width of the trend and at depth.
Assays are expected over the next three or four weeks for an additional three holes completed to date on Section 10+300W with the large drill. Two additional deep holes are planned to test the mineralized system at depth with the scout drill before both drills move to Section 10+200W. Drill section and plan view diagrams are being drafted and will be posted on ATAC’s website.
ATAC has moved aggressively to enlarge the Rau property by staking 2500 additional claims (approximately 500 sq/km) to cover known geochemical and geological targets.
The 790 km2 Rau gold property is located in the Keno Hill area in central Yukon, 55 km northeast of the community of Keno City. It lies within the Tintina Gold Belt and is situated in a highly prospective geological setting below the regional-scale Dawson Thrust, which interleaves Paleozoic shales and silty carbonate rocks. Recent interpretation has identified strong similarities between the geological settings of the Rau property and the northern part of the Carlin Trend. To review these stratigraphic and structural similarities, please visit www.atacresources.com.
Gold determinations were carried out at ALS Chemex in North Vancouver, B.C. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or 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 finish. The high gold assay in sample H246811 was determined gravimetrically when the initial analysis exceeded the detection limit for the Au-AA26 procedure.
Sample collection, chain of custody and data entry is managed by Archer, Cathro & Associates (1981) Limited, an independent consulting firm. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purpose of National Instrument 43-101.
ATAC is a well funded junior mining company focused on gold. Its business model entails acquiring quality gold and silver prospects through grass roots project generation, advancing them to drill stage and then attracting strong partners to move them toward production. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC’s website at www.atacresources.com.
On behalf of the Board of ATAC Resources Ltd.
Graham Downs, CEO
ATAC Resources Ltd.
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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 beyond its control, and actual results may differ materially from the expected results.