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atac resources ltd (ATC) Snapshot

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52 Week High
03/12/14 - C$1.73
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Market Cap
57.7M
Average Volume 10 Days
252.9K
EPS TTM
C$-0.02
Shares Outstanding
117.8M
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Current Stock Chart for ATAC RESOURCES LTD (ATC)

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atac resources ltd (ATC) Details

ATAC Resources Ltd. is engaged in the exploration of metals and minerals with a focus on gold in Canada. It also explores for silver, lead, and zinc. It primarily focuses on the exploration and development of the Rackla gold project covering approximately 1,700 square kilometers located in central Yukon. The company also owns interests in the Rosy property located in the southern Yukon; the Rusty property situated in the northeast Yukon; and the Connaught property, the Panorama property, and the Dawson Gold joint venture located in west-central Yukon. ATAC Resources Ltd. is headquartered in Vancouver, Canada.

atac resources ltd (ATC) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: C$138.1K
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

atac resources ltd (ATC) Key Developments

ATAC Resources Ltd. Reports Results from the Final Three 2014 Diamond Drill Holes at the Conrad Zone

ATAC Resources Ltd. report results from the final three 2014 diamond drill holes recently completed at the Conrad Zone, located within the Nadaleen Trend at the eastern end of ATAC's 100% owned 1,700 sq/km Rackla Gold Project in central Yukon. All three step-out holes at the Conrad Lower Zone hit high-grade gold mineralization and expand the zone; Lower Zone gold mineralization occurs as multiple stacked, flat-lying bodies that are concentrated along a vertical siltstone-limestone contact the Lower Zone remains open along strike and at depth; and Newly discovered high-grade gold mineralization below the Lower Zone opens up an entirely new area for exploration. The reported intersections are drilled thicknesses and are believed to represent approximately 90 to 100% true widths. Carlin-type gold mineralization at the Conrad Zone occurs in both an upper and lower zone and is hosted in multiple structural and stratigraphic settings. Mineralization at the Conrad Lower Zone is characterized by strong alteration and mineralization within multiple stacked, flat-lying bodies proximal to a laterally extensive near vertical siltstone-limestone contact. The final three 2014 drill holes were targeted based on recent successful drilling at the Lower Zone which intersected 30.79 m of 9.50 g/t gold (hole OS-14-227). All three holes were drilled west of hole OS-14-227 and intersected high-grade gold mineralization. Holes OS-14-228 and OS-14-229 further demonstrate the lateral continuity and high grade nature of the Lower Zone with intercepts of 40.22 m of 6.57 g/t gold and 36.57 m of 5.06 g/t gold, respectively. The final hole, OS-14-230 intersected two new significant gold intervals that returned 42.67 m of 3.03 g/t gold and 21.71 m of 3.15 g/t gold, beneath previously known Conrad mineralization. Mineralization at the Lower Zone remains open along strike and at depth. An extensive trenching and auger drilling program was recently completed within the 12 sq/km Anubis area located 10 km west of the Osiris cluster of gold zones. Results from this program will be released when results have been received and compiled. Samples were forwarded to ALS Minerals in Whitehorse, Y.T. 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, B.C. where gold determinations were carried out. Splits of the pulverized fraction were dissolved using a multi acid digestion and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) and atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy (AAS) finish. Mercury analyses were digested with aqua regia and analyzed by inductively coupled plasma mass spectrometry (ICP-MS). Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.

ATAC Resources Ltd. Intersects 30.79 M of 9.50 G/T Gold at Conrad, Rackla Gold Project-Yukon

ATAC Resources Ltd. announced initial results from its ongoing 2014 exploration program. The results are from drilling and surface work at the Conrad, Sunrise and Anubis Zones, all located within the Nadaleen Trend at the eastern end of ATAC's 100% owned 1,700 sq/km Rackla Gold Project in central Yukon. Conrad Lower Zone step out hole OS-14-277 extends high grade mineralization - 30.79 m of 9.50 g/t gold; Sunrise drilling extends mineralization to the west of 2013 drilling; and Anubis area surface exploration outlines pathfinder element+gold anomalies with 8 km cumulative strike length, similar in size and intensity to the Osiris area located 10 km to the east. The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 100% true widths. Carlin-type gold mineralization at the Conrad Zone is contained within several structural and stratigraphic settings. In the Conrad Upper Zone, gold mineralization occurs in an anticline fold hinge. The Upper Zone has been continuously traced by shallow drilling over a strike length of 800 m between Sections C100E and C900E. A 2012 drill hole (hole OS-12-103) in the Upper Zone above hole OS-14-227 returned 46.06 m of 11.24 g/t gold. Hole OS-14-227 is a step-out from previous holes that intersected the Conrad Lower Zone. Mineralization at the Lower Zone is open in all directions and has only been traced with limited drilling over a 300 m strike length below the core area of the Upper Zone. The Lower Zone is characterized by strong alteration and mineralization localized within and adjacent to several flat-lying faults that may be primary mineralizing fluid conduits. Drilling is ongoing at the Conrad Zone. Drilling in 2014 at the Sunrise Zone has successfully expanded the mineralized area to the west of two of the final 2013 holes that returned 19.81 m of 5.54 g/t gold (OS-13-214) and 16.76 m of 6.76 g/t gold (OS-13-217). The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 100% true widths. Hole OS-14-224 did not intersect significant mineralization. The higher grade part of the Sunrise Zone is a 100 to 150 m long, steeply south dipping and southwest-plunging body of stratabound, structurally controlled Carlin-type gold mineralization that remains open at depth.

ATAC Resources Ltd. Announces the Completion of Positive Preliminary Economic Assessment for the Rackla Gold Project

ATAC Resources Ltd. announced the completion of a positive preliminary economic assessment (PEA) for the oxide portion of the Tiger Deposit located at the western end of the company's 100% owned Rackla Gold Project, Yukon. The Tiger Deposit was discovered in 2007 and is distinct from the more recent larger scale Carlin-type discoveries located 100 km to the east, which remain the exploration focus of the company. PEA highlights: Conventional open-pit mining with single-stage, low intensity crushing followed by size classification - no grinding or agglomeration needed; Life of mine (LOM) production of 2.06 million tonnes of oxide material at an average diluted grade of 3.72 g/t gold; Overall gold recoveries of 89.8% from hybrid heap-leach (87.8% recovery) and agitated tank (91.0% recovery) carbon-in-leach (CIL) process; Four year, seasonal operation with LOM production of 221,558 ounces of gold; Pre-tax net present value (NPV) of $52.1 million at a 5% discount rate and internal rate of return (IRR) of 30% with an all-in sustaining cash cost of $626; At a $1,350 per ounce gold price the pre-tax NPV increases to $72.6 million at a 5% discount rate and IRR of 39.5%; and, Pit slope engineering, Tiger Deposit infill drilling and exploration of numerous untested nearby oxide targets have the potential to enhance the value of the project economics. The Tiger Deposit is located approximately 55 km northeast of Keno City, Yukon. Access to the Tiger Deposit would be by a proposed 51.6 km winter road that utilizes 24.6 km of the existing and permitted Wind River Winter Trail. The deposit is currently accessed by air via a 2,500 foot airstrip located 8 km from the deposit.

 

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