- The 7.8 km2 road accessible property is located in the Goldfield Mining District (historic production of 4.2 million ounces at 18.55 g/t gold)
- 8 km east of Waterton Global Resource Management’s Gemfield project (Measured and Indicated Mineral Resource of 1,574,000 ounces gold at 1.03 g/t gold in 47.3 million tonnes)
- Hosts the past producing Tom Keane mine, where shallow reverse circulation (“RC”) drilling in 2003 reported 22.86 m of 2.88 g/t gold and 44.20 m of 1.03 g/t gold
- Prospecting, soil sampling and airborne hyperspectral work identified multiple zones of interest, with surface rock chip samples returning up to 4.16 g/t gold over 8 m, including 7.87 g/t gold over 3 m
- Large, road-accessible project with favorable volcanic stratigraphy, silicic replacement 'ledges' and extensive alunite, pyrophyllite and dickite alteration
- Potential for high-grade and bulk-tonnage mineralization associated with a high-sulphidation epithermal (“HSE”) deposit model
- +4,000 m RC drill program scheduled to begin in August 2021.
Historic East Goldfield RC Results
||Grade (g/t Au)
*True widths of historic drill intervals are unknown. Historic results have not been independently verified.
East Goldfield Geology
The Goldfield Mining District is situated within the northwest trending Walker Lane structural belt where gold mineralization is dominantly constrained by a set of west-northwest strike-slip faults and orthogonal northeast striking normal faults.
The district is underlain by older Paleozoic marine sedimentary and metamorphic rocks which have been intruded or overlain by igneous rocks of Mesozoic and Tertiary age. The igneous rocks occur as intrusive bodies, volcanic tuffs and lava flows. Mineral deposits within the region are genetically related to hydrothermal fluids derived from igneous bodies and are Tertiary in age.
ATAC's East Goldfield property hosts favorable relatively flat lying volcanic rocks referred to as the Goldfield dacite and Milltown andesite. These volcanic rocks are the main host rocks of the nearby Gemfield Project. The rocks are unconformably overlain by a volcanic breccia originally mapped as a landslide unit which displays extensive alunite, kaolinite, pyrophyllite and vuggy, leached silica alteration, a diagnostic assemblage of high-sulfidation epithermal (HSE) deposits. Regional distribution of the the 'Landslide unit' is controlled by east-west trending regional scale faults and numerous sub-parallel east-west trending silicified 'ledges'. It has been interpreted as a partially eroded lithocap alteration zone above the more favourable volcanic rocks and HSE gold mineralization.
East Goldfield Mineralization
The style of mineralization observed at Goldfield is consistent with other HSE gold deposits. They are typically hosted within intermediate composition volcanic rocks and are associated with quartz ± alunite ± pyrophyllite ± dickite ± kaolinite alteration assemblages. Historical ore bodies within the Goldfield Mining District typically occurred as irregular sheets and pipes within and/or adjacent to silicified hydrothermal alteration zones historically referred to as ‘ledges’. Numerous similar ‘ledges’ outcrop on the East Goldfield Property and, while there are historical shallow underground workings clustered around many of the altered zones, there is no record of related rock sample assay data.
ATAC's East Goldfield property hosts ~100 small historical surface workings (i.e. adits, shafts, pits or trenches) across the project area with the most significant development in the southwestern part of the claims at the former Tom Keane mine. Historic production statistics are not available however the development consisted of approximately 900 m of workings on 4 levels, extending to 150 m in depth. Ten angled RC drill holes were drilled in the immediate vicinity of the Tom Keane mine in 2003 by Metallic Gold Ventures Inc. The drill holes targeted silicic altered east-west trending structural zones and reported anomalous gold values (>0.50 g/t) across intervals ranging from 1.52 to 44.20 m in all holes.