ATAC Resources Ltd (fka ATADF) (ATADF)

[Edge83]

ATAC ANNOUNCES 1,685,000 OZ GOLD IN ITS MAIDEN INFERRED MINERAL RESOURCE ESTIMATE FOR THE OSIRIS PROJECT, YUKON

June 18th, 2018

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June 18, 2018 – ATAC Resources Ltd. (TSX-V:ATC) (“ATAC”) is pleased to announce a maiden Mineral Resource estimate for its Osiris Project at the Rackla Gold Property, Yukon.The Osiris Project is 100%-owned by ATAC and is located outside of the area currently under option to Barrick Gold Corporation (“Barrick”). The resource estimate for the Osiris Project was completed by Mine Development Associates (“MDA”) of Reno, Nevada.

Osiris Project Resource Highlights:

Inferred Mineral Resource of 1,685,000 ounces gold at an average grade of 4.23 g/t (in 12.4 Mt), including a pit-constrained Mineral Resource containing 1,055,000 ounces of gold at 4.08 g/t (in 8.0 Mt);
Globally competitive discovery cost of CDN $32/oz of gold*; and,
All zones outcrop at surface and remain open in multiple directions; a 10,000 metre drill program is currently underway to increase the Osiris resources.
“Defining a maiden resource with over one million pit-constrained ounces is a major development for the company and highlights the emerging high-grade open-pit potential. With only 78,614 metres used to define the resource we achieved an excellent discovery rate of over 21 ounces of gold for every metre drilled.” states ATAC’s President and CEO, Graham Downs. “Expansion drilling is in full-swing with two drills focused on step-out drilling at the eastern end of the Conrad Zone. A total of five drills are now operating between Barrick’s Orion Project earn-in and ATAC’s Osiris Project, representing our largest drill campaign since 2012.”


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Osiris Project – Total Inferred Mineral Resource Estimate Summary1,2


Gold Cut-Off

Tonnes

Grade (Au g/t)

Gold (oz)

Pit-Constrained

1.30 g/t

8,045,000

4.08

1,055,000

Underground-Constrained

2.60 g/t

4,335,000

4.52

630,000

TOTAL


12,380,000

4.23

1,685,000

1 CIM definition standards were used for the Mineral Resource.The Qualified Person is Steven Ristorcelli, C.P.G. of MDA.

2 Numbers may not add due to rounding.Mineral resources that are not mineral reserves do not have demonstrated economic viability.

“With the announcement of this maiden resource, it appears that the early stage Osiris Project may have the potential to follow a ‘life-cycle’ path similar to many of the large producing Carlin-deposit mines in Nevada. Many of these mines started life with an initial open pit followed by underground mining,” states Ed Cope, ATAC’s Technical Advisor. “In many cases, the initial discoveries expanded dramatically with additional exploration and were commonly followed by the discovery of more, and often larger, deposits resulting in the great mining camps of the Nevada trends. Classic examples are represented by the original Carlin mine, Goldstrike, Cortez and Getchell-Turquoise Ridge, to name a few.”



About the Osiris Project

The Osiris Project is located at the eastern end of the Rackla Gold Property and hosts numerous Carlin-type gold zones and targets. The Conrad, Sunrise, Osiris and Ibis zones included in the resource estimate occur as replacement bodies with both structural and stratigraphic control.All zones are open in multiple directions. Please see the table below for resources by zone.

Step-out drilling is underway with two drills at the eastern end of the Conrad Zone near drill hole OS-17-238, which intersected 12.50 m of 20.78 g/t gold. Drilling will begin shortly at the Sunrise Zone with a focus on stepping out from mineralization intersected in drill hole OS-17-249, which returned the highest-grade mineralized intercept to date, with 15.24 m of 13.52 g/t gold and 10.42 m of 7.97 g/t gold. The Sunrise Zone is located on a ridge-top and has only been tested for a 300 m strike length and a vertical depth of 350 m.

Excellent potential for new discoveries exists at the 302 km2 Osiris Project. Additional mapping, prospecting and rotary air-blast drilling will be conducted throughout the Osiris Project to test for extensions or new areas of mineralization.

http://www.atacresources.com/news/news-releases/atac-announces-1-685-000-oz-gold-in-its-maiden-inferred-mineral-resource-estimate-for-the-osiris-project-yukon