March 14, 2005 - Robert C. Carne, President announces that Yale Resources Ltd. has terminated its option on ATAC’s Golden Revenue property without earning any interest. Golden Revenue is a road accessible gold-copper prospect located in the central Yukon portion of the Tintina Gold Belt. ATAC owns a 100% interest in the 160 claim (3000 hectare) property, subject to small net smelter return royalties payable on production from parts of the claim block.
Drilling in 2004 better defined a zone of near surface bulk tonnage gold mineralization and produced some of the best results from the property to date, including 1.35 g/t gold across
110.81 m. Although attempts to extend this zone along strike yielded mixed results, drilling late in the program identified a new target west of the gold zone. This discovery is blind to surface and consists of porphyry style copper-gold mineralization. The inclined discovery hole intersected the copper-gold mineralization at a depth of 74.70 m below surface and continued for an intersected length of 57.83 m, producing a weighted average grade of 0.23% copper and 0.37 g/t gold. The hole was terminated for budgetary rather than geological reasons. The casing was left in the hole so it can be extended. The porphyry discovery is open to extension at depth and laterally in three directions.
Golden Revenue is located in a known copper-gold district that included the Casino, Minto and Carmacks Copper deposits. Infrastructure in the area is good and is expected to improve because Golden Revenue is accessed by the same road as the Carmacks Copper Deposit, which Western Silver is permitting for production.
The next stage of exploration at Golden Revenue is scheduled to include deep array induced polarization and magnetic surveys over the new target, followed by diamond drilling. ATAC has already had inquiries regarding availability of the project and management intends to follow up these leads in the coming weeks.
For more information regarding ATAC or its projects please contact Rob Carne or Doug Eaton at 604-688-2568 or 1-800-598-4155, Jim Stephen at 867-668-6443 or email [email protected].
ATAC RESOURCES LTD.
Per: Robert C. Carne, President
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