News Column

ATAC Resources Provides Summary of Encouraging New Rackla Gold Project; Regional Exploration Results

Page 3 of 1

LogoTracker

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/23/13 -- ATAC Resources Ltd. (TSX VENTURE: ATC) is pleased to provide a summary of recently compiled results from the Company's 2012 regional-scale exploration program conducted across its 100% owned 1,700 sq/km Rackla Gold Project in central Yukon.

The comprehensive 2012 program consisted of stream sediment and soil geochemical surveys, prospecting, mapping, hand pitting, hand trenching and satellite image structural lineament analyses. Exploration emphasis was directed at previously unexplored areas outside the drilled zones along the 40 km long Nadaleen Trend at the eastern end of the property and within the 35 km long Rau Trend containing the Tiger Deposit at the western end. A total of 19,693 soil samples, 1,219 stream sediment samples and 1,526 rock samples were collected along the 185 km long property. Highlights are listed below:

2012 Regional Exploration Highlights:

-- Wide spaced soil sampling identifies ten new Tier 1 Carlin-type pathfinder+/-gold anomalies within the Nadaleen Trend;-- Follow-up exploration of two 2011 Nadaleen Trend anomalies late in the 2012 field season resulted in the drill discovery of the Anubis and Sunrise Zones (Anubis discovery hole AN-12-001 intersected 8.51 m of 19.85 g/t gold and Sunrise discovery hole OS-12-114 intersected 14.86 m of 10.54 g/t gold);-- Detailed follow-up work at the Pharaoh target 13 km northeast of the Osiris area identified Carlin-type mineralization and quartz veins with visible gold. Grab samples from the quartz vein material returned grades up to 79.40 g/t gold;-- Prospecting of a 5.6 km long intermittent gold geochemical anomaly 3 km south of the Tiger Deposit in the Rau Trend resulted in the discovery of the Bengal Showing where outcrop channel samples returned grades greater than 3 g/t gold;-- Property-wide stream sediment geochemical surveys have identified 21 anomalous drainages on the property outside the Nadaleen and Rau Trends for follow-up in 2013; and,-- Reconnaissance stream silt sampling and geological interpretation beyond the property boundary led to the staking of 84 sq/km of unexplored anomalous drainage basins with favourable Carlin-style geology.



"The ability to consistently make significant new discoveries like Anubis, Pharaoh, Sunrise and Bengal is testimony to the district-scale potential of both trends," states Graham Downs, ATAC's CEO. "With virtually no historical gold exploration along the Rackla Gold Belt and only approximately 16% of the belt having now been geochemically surveyed, we are very optimistic that our ongoing systematic exploration will continue to produce additional discoveries."

Nadaleen Trend

2012 exploration within the Nadaleen Trend was highly successful as demonstrated by two new drill confirmed Carlin-type gold discoveries named the Anubis and Sunrise Zones. The Sunrise Zone is part of the Osiris mineralizing system, while the Anubis Zone is located 10 km west of the Osiris area. The Anubis Zone is particularly significant as it validates the district gold potential of the Nadaleen Trend. Continued exploration successes in 2012 included the identification of ten Tier 1 pathfinder element+/-gold geochemical anomalies and the identification of the Pharaoh target 13 km northeast of the Osiris area which contains both Carlin-style and gold-bearing quartz vein mineralization. Quartz vein sub-crop and grab samples from Pharaoh returned gold grades ranging from below detection to 79.40 g/t gold.

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/).



QA/QC

Samples were forwarded to ALS Minerals in Whitehorse, Y.T. or North Vancouver, B.C. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver where gold determinations were carried out. Rock sample gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Initial multi element data for 49 elements was determined by the ME-MS61 procedure that involves a four acid digestion followed by inductively coupled plasma mass spectrometry and inductively coupled plasma atomic emission spectroscopy. Over limit values for lead, silver and zinc are determined by the Ag/Pb/Zn-OG62 method that utilizes a four acid digestion followed by an atomic absorption spectroscopy finish. Over limit values for tin are reported using the Sn-XRF05 method which involves analysis of a pressed pellet by wavelength dispersive x-ray fluorescence. Over limit values for silver determined by the OG62 method are re-analyzed using the Ag-GRA 21 method which involves fire assay preparation using 30 gram charge and a gravimetric finish. Over limit values for lead and zinc determined by the OG-62 method are re-analyzed by dissolution of the metal followed by titration.

Samples containing visible gold and samples suspected of containing coarse gold from the Pharaoh area were analyzed using the Au-SCR21 method in which 1 kg of sample pulp is passed through a 100 micron screen and all of the coarse material on the screen is assayed by Au fire assay. Two samples of homogenized pulp that passed through the screen are assayed by Au-AA25 and Au-AA25D which is fire assay with AAS finish on a 30 gram sample charge. The weighted average of the coarse and fine fraction assays are calculated by the laboratory and reported as the total gold concentration of the rock sample. Rigorous procedures are in place regarding sample collection, chain of custody and data entry.

The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President of ATAC Resources Ltd., and a qualified person for the purposes of National Instrument 43-101.

About ATAC

ATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold district at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.

On behalf of Management and the Board of Directors of ATAC Resources Ltd.

Graham Downs, CEO

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.



Contacts:
ATAC Resources Ltd.
Vanessa Pickering
Manager, Corporate Communications
604-687-2522 ext. 260
vpickering@nordacres.com
www.atacresources.com



Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters