January 14th, 2010
January 14, 2010 - ATAC Resources Ltd. (TSX-V:ATC) is pleased to announce its plans for exploration in 2010 at its wholly-owned Rau Gold Project, which is located in the Keno Hill district of central Yukon Territory.
- Four diamond drills and a 5th stand-by drill have been contracted for 2010;
- Proposed phase one drill program increased to a minimum of 18,000 metres (~120 holes);
- Three drills will continue to define and expand the open Tiger Zone to the northwest and southeast, and begin the systematic evaluation of the East Zone discovered late in the 2009 field season;
- The same three drills will also be used for exploration drilling in the 5 km long gold- bearing trend that lies immediately northwest of the Tiger Zone, where six targets with oxide mineralization similar to the Tiger Zone have been identified;
- The fourth drill will be used to test geochemical and geophysical targets on ATAC’s other properties that make up the Rau Gold Project. These properties lie within a 180 km long belt of favourable geology; and,
- Access route staking is finished and preliminary engineering studies are near completion in preparation for permitting a proposed 48 km pioneer road to the property.
The East Zone was discovered in holes Rau-09-44 and Rau-09-61 where sulphide intercepts 90 metres apart averaged 3.71 g/t gold over 36.78 m and 3.36 g/t gold over 23.06 m, respectively. In contrast to the overlying Tiger Zone, the mineralization is characterized primarily by pyrite and quartz replacement within coarse hydrothermal dolomite and iron carbonate interpreted to occur either stratigraphically or structurally below the Discovery Horizon. The recognition of the East Zone is significant as it demonstrates that gold mineralization occurs in diverse structural and stratigraphic settings. The East Zone will be targeted with extensive drilling in early May.
The six recently discovered surface zones lie between 2.5 and 5 km northwest of the Tiger Zone. They are defined by strong soil geochemical anomalies and 13 select gold-bearing oxide talus samples that returned between 1.57 and 18.5 g/t Au. Corresponding silver, lead and zinc values for these samples ranged from 3.18 to 241 g/t, 0.01 to 19.35% and 0.06 to 1.13%, respectively. An additional 12 oxide talus samples collected within three of the zones returned an averages of 168 g/t silver and 8.96% lead with individual assays ranging from 34.4 to 483 g/t and 0.23 to 35.74%, respectively. Gold response for these samples ranged from 0.06 to 0.88 g/t averaging 0.37 g/t. All six zones will be priority drill targets for the 2010 exploration program.
Other exploration work planned for 2010 includes: wide ranging soil geochemical surveys; reconnaissance- and detailed-scale geological mapping and prospecting; additional induced polarization surveys; and, orientation-type gravity surveys to determine the effectiveness of that exploration technique. Development related studies will include: comprehensive metallurgical tests; wildlife surveys; continued water quality monitoring; archaeological research; and detailed surveys of access routes.
ATAC Resources Ltd. will be exhibiting at the Vancouver Resource Investment Conference on January 17 and 18. Company management and personnel will be located in the Yukon Room at the Fairmont Hotel Vancouver.
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. 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,
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. View News Release in PDF