October 20, 2010 — ATAC Resources Ltd. (TSX-V:ATC) announces that it has staked an additional 801 claims at its wholly-owned Rau Gold Project, which is located in the Keno Hill district of central Yukon Territory.
The new claims adjoin the eastern and northeastern edges of the Company’s existing claim block. The additional 167 sq/km of staking increases the Company’s land position near its recent Osiris discovery, where Carlin-type gold mineralization occurs at the Osiris, Isis, Conrad and Eaton Zones. These zones lie within a 25 km belt of anomalous gold and pathfinder geochemistry, which was previously known as the Sten area but has now been named the Nadaleen Trend. Assays from the upper half of the first hole from the Osiris Zone averaged 4.65 g/t gold over 65.20 m (see news release dated September 1, 2010). An updated claim map can be viewed on ATAC’s website.
The Tiger Zone, which lies approximately 100 km west of the Nadaleen Trend, was the initial discovery at the Rau Gold Project. It has received a total of 25,623 m of diamond drilling in 132 holes during the past three exploration seasons. The Tiger Zone is located on a 15 km long ridge system where more than a dozen gold and/or silver exploration targets have been identified. The ridge system that hosts the Tiger Zone and nearby targets is now named the Rau Trend.
ATAC’s property comprises a continuous band of claims that is 185 km long, averages 15 km wide and encompasses over 1500 sq/km. It is situated between the Dawson and Kathleen Lakes Faults and covers a belt of Paleozoic carbonate rocks along the North American paleo-continental margin. This belt of favourable rocks is now termed the Rackla Gold Belt and contains both the Rau and Nadaleen Trends.
Core samples from the remainder of hole one at the Osiris Zone and another eight diamond drill holes that tested the Osiris, Isis, Conrad and Eaton Zones within the Nadaleen Trend have recently arrived at the assay lab. Results from these holes will be released together in one batch with an anticipated date near the end of November. Additional results from the Tiger Zone within the Rau Trend will also be released as a batch when complete. The 2010 drill program is now finished at the Rau Gold Project.
“Due to the significance of the Osiris discovery and the demonstrated potential of the Rackla Gold Belt, it was imperative that we stake certain known gold and pathfinder anomalies in the area” states Graham Downs, ATAC’s CEO.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purposes of National Instrument 43-101. ATAC is a well funded junior mining company focused on its 100% owned Rau Gold Project. For additional information concerning ATAC Resources Ltd., 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 judgements 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.