ATAC Resources drills 2.63 g/t gold over 33.2 metres at Nadaleen, Yukon

ATAC Resources Ltd. [ATC-TSXV; ATADF-OTCQB] has released the results of diamond drilling at the Osiris deposit on the Nadaleen project, part of the broader 100%-owned Rackla gold property, 55 km northeast of Keno City, Yukon. Five diamond drill holes were completed in 2022, totaling 1,551 metres. Three holes targeted the Osiris Zone and one hole targeted each of the Sunrise and Conrad Zones.

Drilling Highlights

Hole OS-22-283 intersected 33.20 metres of 2.63 g/t gold, including 6.75 metres of 9.29 g/t gold at the Osiris Zone. Hole OS-22-285 intersected 10.80 metres of 3.69 g/t gold, including 2.14 metres of 10.91 g/t gold at the Osiris Zone. Drilling continues to demonstrate the open nature of the existing resources at the Osiris Deposit.

“We were pleased to be back drilling at Nadaleen for the first time since 2018,” stated ATAC’s president and CEO, Graham Downs. “While we only conducted a small-scale program this year, these results are a great reminder of the high-grade nature of the Osiris Deposit and the potential for significant resource growth through systematic step-outs along strike and at depth. We look forward to returning to Nadaleen with a resource expansion program in the coming years, as well as further drilling at the Anubis target which hosts earlier-stage, high-grade Carlin-style mineralization along a 2.5 km fault structure.”

The Nadaleen exploration program consisted of five diamond drill holes totaling 1,551 metres at the Conrad, Osiris and Sunrise zones, part of the Osiris Deposit. Drilling focused on extending known gold mineralization down dip at Osiris and Sunrise, and providing better definition of gold mineralization at Conrad.

Hole OS-22-281 targeted a gap in drilling within the fold closure of the Conrad zone. Challenging drilling conditions led to loss of recovery and the hole was abandoned in the Nadaleen fault before intersecting the target zone.

Holes OS-22-282 and -283 targeted the down-dip extension of gold mineralization at the Osiris zone, undercutting OS-18-279 (16.16 m of 6.46 g/t gold). Hole OS-22-282 returned two intersections with significant gold. 22.25 metres of 1.02 g/t gold was intersected from 128.75 metres at the upper contact of the limestone and dolostone units. Deeper in the hole, 4.00 metres of 5.07 g/t gold was intersected from 193.00 metres, a 40-metre step-out down dip of known mineralization along the lower contact between the limestone and the mudstone and lies outside of the existing resource.

Hole OS-22-283 undercut hole OS-22-282 and intersected 33.20 metres of 2.63 g/t gold at the upper dolostone-limestone contact within an inferred portion of the existing resource.

Hole OS-22-284 targeted an extension of the Sunrise zone at depth and returned 1.37 metres of 3.53 g/t gold from 318.63 metres, suggesting the zone may be pinching out in this area.

Hole OS-22-285 targeted the down dip extension of mineralization at the Osiris zone and returned 10.80 metres of 3.69 g/t gold from 292.00 metres, including 2.14 metres of 10.91 g/t gold. This represents a 45-metre step-out down dip from previously known mineralization along the limestone-dolostone contact and is outside the existing resource.

The Nadaleen Project hosts Canada’s only known Carlin-type gold district, located northwest of Snowline Gold’s Einarson project and Fireweed Metals’ MacMillan Pass project in eastern Yukon. Exploration work to-date has defined 20 known Carlin-type gold occurrences along a 25-km long trend, comparable in size to the entire northern Carlin Trend of Nevada.

The project hosts two distinct clusters of occurrences, referred to as the Osiris and Anubis clusters. The Osiris cluster is host to the Osiris Deposit (Indicated: 732,000 oz of 4.12 g/t gold; Inferred: 1,044,000 oz of 3.47 g/t gold), comprised of the Conrad, Sunrise, Osiris and Ibis zones, and is where 2022 drilling was completed. All zones at the Osiris deposit outcrop at surface and remain open in multiple directions. Four other Carlin-type gold occurrences at the Osiris cluster have not yet been brought to the resource stage.

ATAC is a Canadian exploration company focused on exploring for gold and copper in Yukon, BC and Nevada. Work on its ~1,700 km2 Rackla Gold Property in Yukon has resulted in the Osiris Deposit Indicated Resource of 732,000 oz of gold at 4.12 g/t (in 5.5 Mt) and Inferred Resource of 1,044,000 oz of gold at 3.47 g/t (in 9.4 Mt), the Tiger Deposit Measured & Indicated Resource of 464,000 oz of gold averaging 3.19 g/t (in 4.5 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of $118.2M and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC has approximately $4 million in working capital.

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