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ATAC Resources Intersects 26.12M at 6.08 G/T Au at Osiris Zone

ATAC Resources Ltd. has announced assay results for 18 diamond drill holes from the Osiris Zone and the newly discovered Isis East Zone, located within the Nadaleen Trend of the Company's wholly-owned 1,600 sq/km Rackla Gold Project in central Yukon.

Osiris Zone

The drill holes at the Osiris Zone have tested two distinct settings for Carlin-type gold mineralization, the steeply dipping Osiris Shear structure and near surface stratabound mineralization. Significant assays from the Osiris Zone drilling are tabulated below:

  • Based on the character of the mineralization and the limited drilling, it is not possible to determine the true width of the intersections at this time.
  • * denotes visibly oxidized or partially oxidized intervals.

The 50 to 100 m wide Osiris Shear structure parallels bedding along the west limb of the Osiris anticline, near the contact between reactive silty limestone beds and an overlying dolostone unit. Definition drilling of the Osiris Shear structure has now been traced an additional 450 m horizontally for a total of 1 km and a further 200 m vertically for a total of 500 m. Results summarized in this news release are from holes drilled to partially test approximately one third of the known strike length of the Osiris Shear structure. Holes drilled along the structure toward the North Osiris trench have all intersected levels of alteration and arsenic mineralization characteristic for gold mineralization in this system. Assays for the remaining 18 holes from the Osiris Zone will be released when received and compiled.

Near surface stratabound mineralization has been traced by drilling over a 50 by 150 m area in the moderately south dipping eastern limb of the Osiris anticline, perpendicular to the Osiris Shear structure, where silty limestone and limestone debris flow units are partially replaced by silica sinter and realgar. The mineralized zone is open to expansion along strike to the east and down the dip to the south. Previously reported intersections of this style of mineralization include 35.08 m of 2.31 g/t gold in hole OS-10-002.

Partial to complete oxidation is present up to 90 m vertically from surface in both the shear hosted and stratabound mineralization. Metallurgical testing has not been carried out on material from the Osiris Zone.

Holes OS-11-035 and OS-11-037 intersected the Osiris Shear structure above the favourable limestone units and did not intersect significant mineralization. Hole OS-11-056 was drilled away from the Osiris Shear to complete a structural cross section. Holes OS-11-041, 044 and 048 did not intersect significant mineralization. Maps showing the drilling locations and a longitudinal section showing mineralized zones projected to section along the Osiris Shear structure can be found on ATAC's web site www.atacresources.com.

Isis East Discovery

Initial drilling was also done to test a gold-in-soil geochemical anomaly overlying where the Isis carbonate sequence is cut by the Osiris Shear structure. The Isis carbonate sequence is interpreted to be a thrust fault repeat of the Osiris carbonate sequence. Therefore, the Osiris carbonate sequence may be present at depth below the Isis East showing and it may be similarly mineralized where it is intersected by the Osiris Shear structure. Results of the Isis East drilling are tabulated below.

  • Based on the character of the mineralization and the limited drilling, it is not possible to determine the true width of the intersections at this time.
  • * denotes visibly oxidized or partially oxidized intervals

Hole OS-11-043 cut the Osiris Shear structure above the favourable carbonate rocks and did not intersect significant mineralization.

Amon Target

Eight holes were drilled on the Amon target located approximately 2 km west of the Osiris Zone. Each hole intersected moderate to strong arsenic mineralization (orpiment and realgar) within and peripheral to an east-trending fault that cuts dolostone in the upper part of the Isis carbonate sequence along a 200 m strike length. Anomalous gold values accompany the arsenic mineralization. Drilling in 2012 will test the fault zone at a greater depth where it is projected to intersect favourable limestone sequences at the base of the Isis carbonate unit.

2011 Drilling Program

The 2011 field program at the Rackla Gold Project has now been concluded and field crews demobilized. A total of 118 diamond drill holes were completed on the project during the 2011 program for a total of 32,500 m metres. Twenty-nine holes (5,900 m) were drilled within the Rau Trend and eighty-nine holes (26,600 m) within the Nadaleen Trend. A summary of the 2011 drill program is tabulated below. Assay results for the remaining 50 drill holes will be released once received and compiled.

Source: www.atacresources.com

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