Rackla Gold Project

The large remote Rackla Gold Project in the Yukon covers 1,700 km² and hosts two distinct trends - Nadaleen and Rau. (Image: Atac Resources).

A look at news from ATAC Resources this morning with some additional comments.

ATAC Resources - (ATC:TSXV) - Atac has made a new discovery at the Anubis Cluster and also released drill results from the Conrad Zone.  Drill hole ARB-15-026 is one of the better drill holes I have seen this year from a junior intersecting 47.24m of 3.79 g/t gold. The hole intersected mineralization between 15.24m and 62.48m and bottomed in mineralization.

I noticed that in the drill table provided in the press release all other drill holes released had the host rock listed as Limestone while ARB-15-026 was in Siltstone.

Atac has completed a 6 week RAB drilling program at the Anubis Cluster.  Numerous drill targets remain to be tested within the Anubis Cluster

Highlights:

  • Rotary air blast ("RAB") drilling conducted 300 m west of the Anubis Zone intersected 47.24 m of 3.79 g/t gold (ARB-15-026) at what is now called the Orion target;
  • Gold mineralization in hole ARB-15-026 started at 15.24 m and was continuously mineralized to the bottom of the hole;
  • The Orion discovery hole is the only RAB hole in the area that was drilled north into an extensive and pyritic siltstone unit; and,
  • Diamond drilling at the Conrad Zone intersects 124.96 m of 3.02 g/t gold and confirms continuity of mineralization in the Upper and Middle Conrad Zones.

"The Orion discovery hole is the most significant drill intersection to date within the 18 sq/km Anubis Cluster of targets. This hole is particularly significant as it demonstrates the exploration potential of the 30 km long Nadaleen Trend which is developing into a major North American Carlin-type district," states Graham Downs, President and CEO of ATAC. "Our inaugural RAB drilling program has proven to be a very effective and low cost exploration tool that has allowed us to make meaningful progress under challenging market conditions. The RAB drill will continue to be integral in testing new and existing exploration targets and supporting future diamond drill programs."

Atac 5 year chart

The 5 year chart shows how ATAC has fallen quickly from being the darling of the Yukon. The share price has fallen from $10 to $0.45 a share.

The Yukon is a very mining friendly jurisdiction but a lack of infrastructure and long winters make it tough on junior companies.

ATAC is better off than many of its peers with $17 million in the treasury.

Andrew Nelson was on a recent site visit with ATAC you can find his thought's here.

Read: ATAC Resources Ltd. Makes New Discovery of 47.24 m of 3.79 g/t Gold at the Anubis Cluster

Related: ATAC Resources: Remote Yukon explorer defining gold district potential – YMIG Part 2

A slow day for mining related press releases here are a couple additional links.

Thanks for reading.

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This is not investment advice. All facts are to be checked and verified by reader. As always please do your own due diligence.