VANCOUVER, June 4, 2018 /CNW/ - ATAC Resources Ltd.
(TSX-V:ATC) ("ATAC") is pleased to announce the commencement of
drilling at its 1,700 km2 Rackla Gold Property in
east-central Yukon.
The previously announced, ~20,000 m diamond drill program will
include: ~10,000 m at the high-grade, Carlin-type Osiris Project;
and ~10,000 m at the Carlin-type Orion Project funded by Barrick
Gold Corp. ("Barrick") under an exploration partnership.
ATAC's technical team is operating two diamond drill rigs on the
Conrad Zone at the wholly-owned Osiris Project, while an additional
two diamond drill rigs are targeting the Anubis Fault corridor at
the Orion Project; which is subject to an earn-in agreement wherein
Barrick can acquire a 70% interest for total expenditures of
$55 million. A fifth diamond drill is
scheduled to commence drilling within the next few weeks.
Prior to the Barrick earn-in agreement, ATAC completed ~3,200 m
of diamond drilling within the Anubis Fault corridor, and
highlights include: 8.51 m of
19.85 g/t gold from the Anubis Zone and 61.29 m of 2.75 g/t gold from the Orion
Zone.
The Rackla Gold Property – 2018 Objectives
- Barrick funded discovery drilling on high-priority gold targets
at the Orion Project;
- ATAC funded step-out drilling from significant 2017 results,
including: 12.50 m of 20.78 g/t
gold at the Conrad Zone; and 15.24 m of 13.52 g/t gold at the Sunrise
Zone; and,
- Diamond drilling to extend stratigraphically-controlled
mineralization at the Osiris Zone.
"We're excited to have five diamond drill rigs running on the
largest exploration program at Rackla in roughly six years,"
commented ATAC president and CEO Graham
Downs. "ATAC is anticipating an exciting field season, with
drilling at the Osiris Project focused on expanding known
high-grade gold zones, while Barrick targets gold discovery via
aggressive drilling under their earn-in on the Orion Project."
QA/QC
The reported intersections are drilled thicknesses and are
believed to represent approximately 50-70% at the Sunrise Zone and
40-100% at the Conrad Zone. Based on the character of the
mineralization and the limited drilling at Anubis and Orion, it is
not possible to determine the true width of the mineralized
intersections at this time.
The technical information in this news release has been approved
by Julia Lane, P.Geo., Vice
President of Exploration for ATAC and a qualified person for the
purposes of National Instrument 43-101.
About ATAC
ATAC is a Yukon-based
exploration company focused on developing Canada's only known Carlin-type gold district
alongside Barrick at its Rackla Gold Property. Recent work on the
~1,700 km2 property has resulted in a positive
Preliminary Economic Assessment for the Tiger Gold Deposit,
drilling of multiple high-grade Carlin-type gold zones and the
identification of numerous early-stage gold exploration targets.
ATAC and Barrick have partnered to explore the Rackla Gold
Property's Orion Project, with Barrick having the option to earn up
to a 70% interest in Orion by spending $55
million in exploration. ATAC is well-financed with
approximately $18 million in its
treasury and will be conducting one of Yukon's largest drilling campaigns in
2018.
On behalf of the Board of Directors of ATAC Resources Ltd.
Graham Downs, President and
CEO
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 NEWS RELEASE.
SOURCE ATAC Resources Ltd.