The ten newly identified and untested Tier 1 targets are very encouraging as nine of them occur within a 12 by 8.5 km area of anomalous multi-element geochemical response centered on the Anubis Zone (updated regional-scale geochemical maps can be viewed on ATAC's website at www.atacresources.com). This area was mostly delineated by first pass transect grid lines spaced 250 m apart. These anomalies strongly coincide with well-defined regional structural trends, indicative of district-scale systems.
The Anubis Zone and surrounding Tier 1 targets are considerably lower in elevation than the Osiris Zone where soil sampling of thin overburden delineated extremely robust gold-in-soil responses. In contrast, the thicker overburden cover and lack of outcrop at Anubis results in a more subdued geochemical expression, similar to the geochemical signature of the Conrad Zone near Osiris. The Anubis discovery area will receive concentrated follow-up exploration in 2013.
Rau Trend
New stratabound and structurally controlled gold showings were discovered in the southern part of the Rau Trend. The most significant of these discoveries is the Bengal Showing, located 3 km south of the Tiger Deposit, within a newly defined 5.6 km long intermittent gold-in-soil anomaly. Hand trenching at one location exposed a sequence of highly altered shale, silty carbonate and dolomite unlike the limestone hosted mineralization at the Tiger Deposit. Channel samples from the Bengal Showing returned below detection to 3.19 g/t gold across 1.0 m. Several other channel samples along the 20 m strike length of the exposure returned greater than 1 g/t gold. This discovery is highly significant as it broadens the potential for gold mineralization within the regionally extensive Earn Group stratigraphy.
Prospecting at the Kathy Showing located 4.5 km east of the Tiger Deposit discovered skarn assemblages in carbonate rocks cut by narrow bismuthinite-rich veinlets. Select samples of veinlet material yielded below detection to 13.7 g/t gold, below detection to 1100 g/t silver and below detection to greater than 1% tin.
Studies at the University of Alberta have linked the gold mineralization in the vicinity of the Tiger Deposit and base metal mineralization 15 km to the west at the Ocelot silver/lead/zinc/tin zone to the nearby early Tertiary Rackla Pluton. Geophysical evidence suggests that much of the Rau Trend may be underlain by a much larger intrusive complex and therefore the potential for further discoveries in a number of different settings is very good.
Summary of Rackla Gold Belt Exploration Targets and Zones
----------------------------------------------------------------------------Trend Target(s)/Zones Comments(i)----------------------------------------------------------------------------Nadaleen Conrad Zone Most advanced Carlin-type gold zone with 800 m strike length, open in all directions, 99 diamond drill holes. Highlight 2012 hole intersected 42.93 m of 18.44 g/t gold in hole OS-12-114.---------------------------------------------------------------------------- Osiris Zone 2010 Carlin-type discovery hole returned 65.20 m of 4.65 g/t gold in hole OS-10-001. Zone remains open down dip and to the north. ------------------------------------------------------------------ Isis East Zone Very encouraging near surface gold zone directly south of Osiris with limited drilling. Highlight 2012 drill hole intersected 27.43 m of 6.28 g/t gold in OS-12-120. Major focus for 2013. ------------------------------------------------------------------ Sunrise Zone 2012 discovery directly east of Osiris. Hole OS-12-173 intersected 14.86 m of 10.54 g/t gold. Sunrise Zone remains open in all directions and will be a major focus for 2013. ------------------------------------------------------------------ Anubis Zone 2012 discovery located 10 km west of Osiris. Hole AN-12-001 intersected 8.51 m of 19.85 g/t gold. Anubis Zone remains open in all directions and will be a major focus for 2013. ------------------------------------------------------------------ Pharaoh 2012 surface discoveries of Carlin-type and high-grade quartz vein material with visible gold. ------------------------------------------------------------------ N(1-10) Ten Tier 1 pathfinder+/-gold anomalies surrounding the Anubis and Pharaoh areas. Primary focus for 2013 follow- up. ------------------------------------------------------------------ Isis Intense gold anomaly 600 m west of Osiris, additional mapping and drilling to be completed. ------------------------------------------------------------------ Pyramid 4 by 0.6 km arsenic anomaly and orpiment/realgar boulder train. ------------------------------------------------------------------ Amon 500 by 250 m area of arsenic mineralization 1.8 km northwest of Osiris. ------------------------------------------------------------------ GT Decarbonatized and clay altered showing with abundant realgar and barite located 6.9 km west of Osiris.----------------------------------------------------------------------------Rau Tiger Deposit NI 43-101 resource of oxide and sulphide at a cut-off grade of 0.30 g/t gold estimated at: Indicated: 508,000 oz gold (7,150,000 tonnes at 2.21 g/t Au) Inferred: 290,000 oz gold (8,280,000 tonnes at 1.09 g/t Au)---------------------------------------------------------------------------- Ocelot Zone Silver-lead-zinc discovery made in 2010. Hole OC-11-010 intersected 63.44 m of 73.81 g/t silver, 2.44 % lead and 8.18 % zinc. 19 holes have defined a zone with a strike length of 230 m. Area has received very limited exploration. ------------------------------------------------------------------ Bengal Gold showing discovered in 2012 located 3.2 km south of the Tiger Deposit and within a newly defined 5.6 km intermittent gold-in-soil contour anomaly. Additional prospecting and geochemistry planned for 2013. ------------------------------------------------------------------ Cheetah, Cougar, Jaguar, All five targets are dispersed 5 to 8 Puma and Panther km to the northwest from the Tiger Deposit along a regional structure. They exhibit many of the same surface characteristics as the Tiger Deposit but have received limited drilling and exploration. ------------------------------------------------------------------ Kathy Gold skarn target 4.5 km south east of the Tiger Deposit. Veinlet hosted mineralization grades up to 13.7 g/t gold. ------------------------------------------------------------------ Flat Top Gold skarn target 2.5 km northeast of the Tiger Deposit defined by a 700 by 250 m gold-bismuth soil anomaly. ------------------------------------------------------------------ Blue Lite Gold skarn target occurring 5.7 km northeast of the Tiger deposit defined by a tight cluster of anomalous gold and bismuth in soil samples. ------------------------------------------------------------------ Now Gold and antimony anomaly located 10 km west of the Tiger Deposit. The anomaly is a 5 by 1 km northwesterly linear trend that occurs in a geologic environment similar to the Bengal Showing. ------------------------------------------------------------------ Now West 2012 geochemical anomaly located 17.5 km west of the Tiger Deposit.----------------------------------------------------------------------------(i) all results provided in table have been disclosed in this news releaseor previous news releases that can be reviewed in further detail on ATAC'swebsite (http://www.atacresources.com/) or SEDAR (http://www.sedar.com/).
