ATAC Resources Ltd. Dramatically Increases Its Land Position At Its Rau Gold Project In Yukon
The Rau Gold Project contains the Tiger Zone, a sediment-hosted Nevada-style oxide and sulphide gold zone with high-grade intersections. In addition to the Tiger Zone, which has been tested with 12,200 metres of diamond drilling in 2008 and 2009, the property contains twelve other geochemical anomalies or float occurrences of gold mineralization that are expected to be drilled in 2010.
The new staking more than doubles the size of ATAC's claim holdings in the Rau Gold Project, bringing the total to 6,462 claims. The project now covers approximately 1,310 sq/km including the main claim block and two satellite properties. The new claims were staked to cover projections of favourable structural and stratigraphic settings both to the west and east of the Tiger Zone. The expanded claim holding now provides continuous coverage of a 160 km long belt of Paleozoic carbonate rocks situated between the Dawson and Kathleen Lake Faults. This setting is remarkably similar to the geology of the Carlin Trend in Nevada. An updated claim map can be viewed on the Company's current corporate presentation at www.atacresources.com.
With this extension, the highly prospective Sten Target, 96 km to the east of the Tiger Zone, is linked to the main land holding. The Sten Target was discovered in 2009 by following up strongly anomalous reconnaissance-scale arsenic stream sediment geochemical results. Subsequent sampling and mapping have defined a 2 km long belt containing high gold-in-silt values ranging from 0.1 to 2 g/t within a stratigraphic and structural setting similar to the Tiger Zone. The newly staked band of favourable carbonate stratigraphy between the Tiger Zone and the Sten Target will be explored in 2010.
"The extent and style of gold mineralization at the Rau Gold Project and the well defined structural setting compelled ATAC to secure a stronger land position" states Graham Downs, ATAC's CEO. "The Company believes that it has identified a significant new gold district and looks forward to this year's aggressive exploration program on its existing and newly staked land packages. Crews will be mobilized to the property in April."
ATAC is exhibiting at the Prospectors and Developer's Association of Canada (PDAC) annual convention in Toronto, March 7 - 10, 2010 at booth 2346.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purposed of National Instrument 43-101. ATAC is a well funded junior mining company focused on its 100% owned Rau Gold Project. The Rau Gold Project hosts Nevada-style gold mineralization previously unseen in Yukon. 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.
T:604-687-2522
graham@nordacres.com
This news release may contain forward looking statement 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.
ATAC Resources Ltd. Announces 2010 Exploration Plans At Its Rau Gold Project In Yukon
- 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.
T: 604-687-2522
graham@nordacres.com
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.
ATAC Resources Ltd. Closes $9,152,500 Private Placement
ATAC RESOURCES LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENTS TOTALLING $9,152,500
November 30, 2009 -- ATAC Resources Ltd. ("ATAC" or the "Company") (TSX-V: ATC) is pleased to announce the closing of the following private placements, as originally announced by News Release dated November 5, 2009, as amended by News Release dated November 9, 2009:
(a) a 7,725,000 unit private placement at $0.90 per unit, for gross proceeds of $6,952,500, with each unit consisting of one common share and one-half (1/2) of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.25 until November 26, 2011, provided that, in the event the closing price of ATAC's shares as traded on the TSX Venture Exchange is $1.40 or greater for 10 consecutive trading days, ATAC may give notice of an earlier expiry of the warrants, in which case they would expire 30 calendar days from the giving of such notice; and
(b) a 2,000,000 flow-through share private placement at a price of $1.10 per share, for gross proceeds of $2,200,000.
In connection with the closing of these private placements, ATAC has issued the following securities in payment of finders' fees:
(a) 213,887 finders' units, each consisting of the same securities as the units comprising the 7,725,000 unit private placement disclosed above; and
(b) 429,305 finders' warrants, each entitling the holder to purchase one common share at a price of $0.95 until November 26, 2011, subject to the same potential earlier expiry applicable to the warrants comprising a part of the 7,725,000 unit private placement disclosed above.
All of the securities issued in connection with the closing of these private placements, including the securities issued in payment of finders' fees, are subject to a hold period in Canada until March 27, 2010.
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.
Graham Downs, CEO
ATAC Resources Ltd.
Tel: 604-687-2522
graham@nordacres.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
Atac Resources Ltd. Announces Private Placement Totalling $8.2 Million With Institutional Investor
November 5, 2009 -- ATAC Resources Ltd. ("ATAC" or the "Company") (TSX-V: ATC) is pleased to announce that it has arranged two non-brokered private placements for gross proceeds of up to $8,200,030 comprising:
- up to 6,666,700 non-flow through units at $0.90 per unit for gross proceeds of up to $6,000,030, with each such unit comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole such warrant is exercisable at a price of $1.25 into one additional common share for a period of two years from closing, provided that, in the event the closing price of ATAC's shares as traded on the TSX Venture Exchange is $1.40 or greater for 10 consecutive trading days, ATAC may give notice of an earlier expiry of the warrants, in which case they will expire 30 calendar days from the giving of such notice; and
- up to 2,000,000 flow-through shares at a price of $1.10 per share, for gross proceeds of up to $2,200,000.
ATAC may pay finders' fees in accordance with TSX Venture Exchange policy in respect of the funds raised pursuant to these private placements. Closing of these offerings is subject to receiving required regulatory and TSX Venture Exchange approvals.
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.
Graham Downs, CEO
ATAC Resources Ltd.
Tel: 604-687-2522
graham@nordacres.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
ATAC Resources Ltd. Re-Releases Final Assays from its Rau Gold Property
Hole # |
Type |
From (m) |
To (m) |
Interval (m)* |
Gold (g/t) |
Section 9+780 W |
|
|
|
|
|
Rau-09-61** |
Sulphide |
320.04 |
340.46 |
20.42 |
3.72 |
Section 9+890 W |
|
|
|
|
|
Rau-09-65 |
Oxide |
116.74 |
152.11 |
35.37 |
1.04 |
Section 9+935 W |
|
|
|
|
|
Rau-09-63 |
Oxide |
5.00 |
57.30 |
52.30 |
1.83 |
including |
|
35.97 |
57.30 |
21.33 |
3.85 |
including |
|
48.16 |
57.30 |
9.14 |
7.77 |
Section 9+970 W |
|
|
|
|
|
Rau-09-62 |
Oxide |
6.10 |
36.58 |
30.48 |
3.01 |
including |
|
6.10 |
24.40 |
18.30 |
4.64 |
Section 10+000 W |
|
|
|
|
|
Rau-09-66 *** |
Mixed |
7.01 |
103.02 |
96.01 |
4.04 |
including |
|
7.01 |
77.81 |
70.80 |
5.11 |
including |
|
13.11 |
28.35 |
15.24 |
10.34 |
|
|
|
|
|
|
Rau-09-67 |
Sulphide |
1.52 |
54.86 |
53.34 |
1.36 |
including |
|
7.62 |
14.00 |
6.38 |
4.40 |
|
|
|
|
|
|
Rau-09-68 |
Oxide |
7.42 |
52.14 |
44.72 |
3.37 |
including |
|
7.42 |
36.17 |
28.75 |
4.42 |
Section 10+040 W |
|
|
|
|
|
Rau-09-69 |
Sulphide |
4.57 |
58.85 |
54.28 |
2.16 |
including |
|
48.77 |
58.85 |
10.08 |
5.10 |
Section 10+080 W |
|
|
|
|
|
Rau-09-70 |
Sulphide |
10.30 |
67.50 |
57.20 |
0.94 |
|
|
19.81 |
28.96 |
9.15 |
2.38 |
Section 10+120 W |
|
|
|
|
|
Rau-09-64 |
Sulphide |
107.50 |
111.55 |
4.05 |
3.79 |
|
|
219.25 |
222.50 |
3.25 |
2.60 |
Section 10+150 W |
|
|
|
|
|
Rau-09-71 |
Oxide |
6.10 |
33.53 |
27.43 |
2.99 |
|
|
7.95 |
25.91 |
17.96 |
4.30 |
Section 10+250 W |
|
|
|
|
|
Rau-09-53**** |
Oxide |
51.88 |
98.45 |
46.57 |
2.27 |
Rau-09-56 |
Oxide |
72.54 |
108.34 |
35.80 |
3.77 |
including |
|
75.59 |
92.35 |
16.76 |
6.76 |
* Intervals shown are mineralized lengths of core; all cut across bedding but fold geometry is not well enough understood to reliably calculate true widths. Based on core axis to bedding angles, true widths are estimated to be 70 to 90% of the interval lengths.
** This interval was previously announced as a partial result (see October 19, 2009 news release)
*** Multiple oxide and sulphide intervals occur within the mineralized zone.
**** No recovery internals assigned zero value.
Gold determinations were carried out at ALS Chemex in North Vancouver, B.C. where samples 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.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. 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. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC's website at www.atacresources.com.
Graham Downs, CEO
ATAC Resources Ltd.
T: 604-687-2522