ATAC continues to deliver new discoveries at the Rackla Gold Property

aTaC continues to deliver new discoveries at the rackla Gold

Property Site visit with orogenic gold consultant, Dr. Jim Mortensen, and the ATAC team.

ATAC Resources Ltd. (TSXV: ATC; US-OTC: ATADF) has made yet another grassroots discovery at its district-scale Rackla Gold Property, 55 kilometres northeast of Keno City, Yukon. In September 2020, the company announced that it had identified a new orogenic gold system at its Airstrip target – a style of mineralization previously unidentified in this part of the Yukon.

“The identification of an orogenic gold system at the Airstrip target is very exciting,” said Graham Downs, CEO and president. “These types of systems have the potential to host significant bulk-tonnage gold deposits, and this is the first identification of this style of mineralization in the area.”

The newly discovered mineralization at the Airstrip target joins a host of other discoveries across ATAC’s 1,700-square-kilometre Rackla Gold Property, which is comprised of three projects. The Rau Project – on the western end of the property, near Keno City – hosts the Airstrip target,

as well as the Tiger Deposit and numerous early-stage gold and base metal targets. The Orion and Osiris projects lie further to the east, and are geologically renowned for hosting the only Carlin-type gold deposits in Canada.

“This new discovery demonstrates how much exploration potential remains at Rau and throughout the whole Rackla Gold Property. We have been exploring this area since 2008 and continue to find new exciting targets, with many more early-stage geochemical targets yet to be fully evaluated,” continued Downs. “We are excited by both the broad zones of mineralization and higher-grade intersects identified in rotary air blast drilling to date. Orogenic systems can be very large in size, with highgrade zones concentrated around key structures.”

Widely spaced rotary air blast drilling results released by the company on the Airstrip target include 22.86 metres of 0.66 g/t gold in hole ASR16-004, and 36.58 metres of 0.51 g/t gold in hole ASR-20-018. Higher grades have also been encountered, including 1.52 metres of 6.00 g/t gold in hole ASR-16-006. ATAC completed the first-ever diamond drill holes at the Airstrip target in fall 2020 and results are pending.

“The gold-in-soil anomaly at Airstrip extends over six kilometres in length – it’s the biggest soil anomaly on the entire 185-kilometre-long Rackla Gold Property, and we have just begun to scratch the surface of it. We are eagerly awaiting results from our first diamond drill holes at this target,” commented Downs. “Airstrip’s proximity to Tiger is particularly compelling, with the potential for shared infrastructure in any future development scenario.”

In February 2020, ATAC released results of an updated Preliminary Economic Assessment for the Tiger Deposit, located just five kilometres northwest of the Airstrip target. This study demonstrated robust economics, with a pre-tax net present value (at a five per cent discount rate) of C$118.2 million at a US$1,400/oz. gold price. Further east, at its Osiris Project, the company has defined over 1.6 million ounces of gold (12.4 million tonnes at 4.23 g/t gold) in the maiden resource estimate for its Carlin-style gold discoveries.

ATAC expects to end 2020 with roughly C$6 million in treasury, and a host of compelling exploration targets across the Rackla Gold Property. In addition to its Yukon projects, the company is conducting work on its East Goldfields property in Nevada, USA, to balance out the seasonality of northern exploration. With gold prices near all-time highs, ATAC is poised to aggressively advance its known targets while continuing to make new grassroots discoveries. 8

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