May 26, 2010 - ATAC Resources Ltd. (TSX-V:ATC) is pleased to announce that it has commenced diamond drilling and surface exploration at its wholly-owned Rau Gold Project, which is located in the Keno Hill District of central Yukon Territory.
Five diamond drills have been contracted for use during the 2010 drill program. Three drills are presently on the property and drilling has begun on a minimum 18,000 m program that will:
- Define and expand the Tiger Zone, with a focus on the high-grade oxide mineralization to the northwest, where hole Rau-09-19 intersected 28.04 m that averaged 24.07 g/t gold;
- Evaluate and delineate the newly discovered gold-bearing East Zone which is known to underlie part of the Tiger Zone;
- Drill elsewhere below the Tiger Zone to test the potential for multiple stacked horizons and high-grade feeder zones;
- Test six priority gold targets within a 5 km long belt extending northwest of the Tiger Zone, where surface oxide and sulphide showings similar to the Tiger Zone have been identified; and,
- Follow-up numerous other geochemical and geophysical targets within the 1300 sq km property, which were identified in 2009.
Geophysical surveys are scheduled to begin in the next two weeks at the Tiger Zone and other select targets throughout the property. Work at the Tiger Zone will include various surface orientation surveys and a down-hole induced polarization survey. The orientation surveys will be used to trace the Tiger Zone mineralization and to identify the best methods to find additional mineralized zones. The down-hole survey will be used to interpret and test the continuity of the East Zone where hole Rau-09-44 intersected sulphide mineralization that averaged 3.71 g/t over 36.78 m. Ground-based gravity, grid-based induced polarization and airborne ZTEM surveys will also be used to cover select target areas.
Due to the size of the project and number of gold targets, ATAC will be conducting its 2010 exploration at the Rau Property from two camps. Work at the Tiger Zone and nearby targets will be done from the newly constructed base camp that connects to the Tiger Zone via property drill roads. Exploration on the rest of the property will be primarily conducted by three crews based at a road accessible staging camp near McQuesten Lake. Newly staked claims will receive stream sediment and soil geochemical surveys in conjunction with prospecting, while pre-established targets such as the Now, Sten and El Gossan will receive detailed follow-up grid soil sampling, prospecting and mapping in preparation for diamond drilling.
Drilling to date at the Rau Gold Project has mostly been confined to a band 800 by 300 m wide that is centered on the Tiger Zone. The project’s claim holdings comprise a continuous land package that is 160 km long and up to 15 km wide. This land package covers favourable carbonate rocks in the footwall of a regional-scale thrust fault. Exploration of this highly prospective structural and stratigraphic system offers good potential for additional important gold discoveries in summer 2010.
About Rau Gold Project
The Rau Gold Project contains sediment hosted Nevada-style gold mineralization. Recent drilling at the Tiger Zone has traced stratabound gold mineralization over a strike length of 650 m. The gold is hosted in stacked horizons within fractured, brecciated and altered carbonate rocks. In the central and southwestern parts of the zone, the gold occurs with various combinations of arsenopyrite, pyrite and pyrrhotite. Hole Rau-09-66 was drilled in this zone and intersected 70.80 m averaging 5.11 g/t gold. In the deeply weathered northwestern part of the zone, the gold is associated with limonite, which formed by complete oxidation of the pre-existing sulphide minerals and iron carbonate gangue. Hole Rau-09-19 was drilled in this zone as well as hole Rau-09-41 which intersected 24.47 m that averaged 19.59 g/t gold. Most of the intercepts obtained in 2008 and 2009 lie within 100 m of surface and many holes intersected mineralization directly below a thin layer of overburden.
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.
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 beyond its control, and actual results may differ materially from the expected results.