September 1, 2010 - ATAC Resources Ltd. (TSX-V:ATC) is pleased to announce that the first diamond drill hole at the Osiris Target on its Sten claim block has intersected 9.26 g/t gold over 31.13 m within a larger interval that averaged 4.65 g/t gold over 65.20 m. Assays from the remaining 98 m of the hole are still pending. Significant intervals for the top portion of OS-10-01 are tabulated below:
|Hole ID||Dip||From (m)||To (m)||Int. (m)||Au (g/t)|
Reported intersection widths are drilled thicknesses. True widths are not known as mineralization appears to be controlled by both bedding and structure.
The Sten claims are situated at the eastern end of ATAC’s wholly-owned 1400 sq/km Rau Gold Project in central Yukon - about 100 km east of the Tiger Zone, which has been the focus of most of the Company’s exploration efforts to date.
Mineralization in the Osiris Target area shares many of the characteristics of Carlin-type gold deposits, including similar alteration assemblages and association with the low temperature arsenic sulphides, realgar and orpiment. Host rocks are two, 150 to 250 m thick limestone debris flow and turbidite units, referred to as the Osiris and Isis Horizons, which occur within basinal silty mudstones.
Drill hole OS-10-01 has partially tested a 150 by 500 m gold-arsenic soil geochemical anomaly over the Osiris Horizon where 60% of the soil samples grade in excess of 1 g/t gold. Preliminary prospecting has identified gold-bearing talus and in-situ mineralization intermittently for an additional 2.1 km along strike. Grades of surface grab and bedrock samples range from 1.95 g/t gold to 39.2 g/t gold. The vertical extent of observed bedrock mineralization is in excess of 300 m.
The Company has accelerated its exploration efforts in the Osiris Target area:
- Four of six drill holes, which will test a 300 m wide section across the Osiris Horizon have been completed to date;
- Prospecting is ongoing and a 4.5 sq/km soil geochemistry grid extension is underway; and,
- Drill pads have been constructed to test the Isis Horizon that lies 100 m above the Osiris Horizon, where prospecting has returned grab samples ranging from 1.48 to 23.90 g/t gold within a 150 by 900 m gold-arsenic soil geochemical anomaly.
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 purposes of National Instrument 43-101.
ATAC is a well funded junior mining company focused on precious metals. 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 View News Release in PDF