ATAC Resources reports RAB drill gold discovery and extends Osiris Zone with 8.63 metres of 11.72 g/t gold
Press Release
November 19, 2018 – Vancouver, BC – ATAC Resources Ltd. (TSX-V:ATC) (“ATAC”) is pleased to announce a rotary air blast (“RAB”) drilling gold discovery and the final seven diamond drill hole results from the Osiris, Conrad and Sunrise deposit expansion program within its 100%-owned Osiris Project, located at its Rackla Gold Property, Yukon.
Highlights
- RAB drilling identified an at-surface, high-grade gold discovery located approximately 1,000 m southwest of the Conrad Zone and 800 m east of Ibis Zone;
- Step-out drilling at Osiris returned 8.63 m of 11.72 g/t gold in hole OS-18-275, representing one of the highest grade mineralized intersection encountered to date at the Osiris Zone; and,
- Step-out drilling 60 m along the 650-850 fault corridor at Conrad returned 7.29 m of 8.90 g/t gold at the faulted contact of limestone and siliciclastic units in hole OS-18-278.
“This drill season demonstrated the resource expansion potential that highlights the Osiris Project as one of Canada’s modern district-scale gold discoveries,” commented President and CEO Graham Downs. “We have systematically stepped out on our high-grade maiden resource estimate and discovered additional mineralization near surface and down dip at the Conrad, Sunrise, and Osiris deposits. All of these zones remain open in multiple directions and offer exciting opportunities for drill targeting next year. In addition, our scout drilling has once again identified new gold mineralization regionally, which reaffirms our belief that additional discoveries will be made across the Rackla Gold Property.”
Osiris Zone
A total of four step-out holes (1,638 m) were drilled at the Osiris Zone in 2018 targeting mineralization at depth. Results are presented in the table below.
| Drill Hole | From (m) |
To (m) |
Interval* (m) |
Gold (g/t) |
| OS-18-275 | 244.10 | 252.73 | 8.63 | 11.72 |
| incl. | 244.10 | 245.97 | 1.87 | 31.90 |
| and | 366.30 | 368.43 | 2.13 | 7.27 |
| OS-18-279 | 185.92 | 202.08 | 16.16 | 6.46 |
| incl. | 188.93 | 192.94 | 4.01 | 20.04 |
| OS-18-280 | 334.43 | 350.52 | 16.09 | 2.64 |
| incl. | 334.43 | 337.38 | 2.95 | 7.30 |
* The reported intersections are drilled thicknesses and are believed to represent approximately 80%-100% true width.
Please refer to the following link for an Osiris/Sunrise Drill Plan Map: http://www.atacresources.com/assets/img/Osiris-SunriseGeology_2018.pdf
Mineralization at the Osiris Deposit is primarily hosted: (i) in steeply dipping reactive beds within the Osiris limestone unit; and (ii) at stratigraphic contacts between units where mineralizing fluid-flow were focused. Drilling at Osiris involved stepping out along known reactive mineralized corridors within the host Osiris stratigraphy and testing the targets at depth.
Hole OS-18-275 returned 8.63 m of 11.72 g/t gold at the stratigraphic contact between limestone and dolostone units. Additionally, OS-18-275 intersected 2.13 m of 7.27 g/t gold at the stratigraphic contact between a carbonate debrite unit and an overlying crystalline limestone. While mineralization has been encountered in the carbonate debrite unit before, this is the first time mineralization has been encountered at the contact with the crystalline limestone.
Please refer to the following link for a hole OS-18-275 cross section: http://www.atacresources.com/assets/img/OS-18-275CrossSection.pdf
The significance of lithological contacts in the development of gold mineralization was also demonstrated where an undercut of OS-17-244 intersected 16.16 m of 6.46 g/t gold, including 4.01 m of 20.04 g/t gold, in hole OS-18-279.
Stratigraphic horizons within the Osiris limestone unit also control fluid flow and the development of gold mineralization. This was demonstrated in hole OS-18-280, which intersected 16.09 m of 2.64 g/t gold, including 2.95 m of 7.30 g/t gold. This interval was at the same stratigraphic position as 16.46 m of 5.29 g/t gold, encountered 130 m above, in hole OS-17-258.
Hole OS-18-277 intersected five zones of anomalous gold mineralization and associated pathfinder elements. These intercepts demonstrate that the gold bearing fluids are still present and can be used to trace the flow of mineralizing fluids throughout the system.
2018 RAB Discovery
Two RAB holes were completed late in the exploration season to target an untested gold anomaly located approximately 1 km southwest of Conrad where prospecting grab samples in 2010 contained 2.51 g/t gold and 2.34 g/t gold.
The two holes were fanned off a single drill pad and targeted the Osiris limestone unit. OSR-18-01 intersected 1.53 m of 3.05 g/t goldand OSR-18-002 returned 6.10 m of 3.38 g/t gold. Mineralization was intersected from bedrock surface and highlights the potential for additional discoveries of Carlin-style gold mineralization on the Osiris Project. Further exploration of this target will be undertaken as part of the 2019 field program.
IBF4
