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: 50 m of 20.78 g/t gold at theConrad 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...