ATAC Announces Results from its Connaught Silver Property and Acquires Adjacent Stinger Claims
August28, 2018 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") is pleasedto announce exploration results and the acquisition of the TN claims adjacentto its wholly owned Connaught property, located at the head of the Sixty MilePlacer Gold Camp in west-central Yukon. The Connaught property hosts an extensive system of silver-lead-goldveins. It lies about 65 km due west of Dawson City, Yukon, and is accessed via theSixty Mile Road off the Top of the World Highway.
With the acquisition of theTN claims, the Connaught property is now 115.5 km2.The expanded property is available for optionas ATAC continues to focus on its Rackla Gold Property in north-central Yukon.
Connaught Project Highlights
2017geochemical survey identified the largest(~1 km2) coincident silver-lead anomaly with multi-gram silver todate, no follow up work completed; Roadaccessible project with over 20 distinctsilver-lead and gold veins; silver and lead veins grading up to 3,150 g/t silver and 64% lead; and,Additional claims acquired to cover the projected southernextension of the 1 km2 soil anomaly and anomalous ridge and spurgeochemical anomalies.“Connaught contains some of the highest grade silver-lead andgold veins in Yukon and is easily accessible from the Sixty Mile Road. Recent fieldwork resulted in the identification of a large coincident silver-lead soilanomaly and an area of alteration and mineralization that is indicative of ahigh level, copper-rich porphyry system,” stated President and CEO GrahamDowns."As the newly-identified soilanomaly was located on the southern boundary of the claim block, it wasimportant to acquire the TN claims, which host ridge and spur geochemicalanomalies indicating additional silver-lead vein potential."
Exploration programs in2015 and 2017 were carried out to fulfill assessment requirements and keep the Connaughtproperty in good standing.ATACcollected a total of 272 soil samples and results were highly encouraging.The 2017 sampling identified the largest, andstrongest, coincident silver and lead soil geochemical anomaly on the propertyto date, in an area with no known mineralization.The 2017 anomaly is 1,500 m long by 600 mwide and comprises very strongly anomalous lead and silver-in-soil valuesranging from 5 to 15.4 ppm silver and 500 to 2,000 ppm lead,respectively.
The Connaught property lieswithin a complex, northeast-trending fault system called the Sixty Mile-Pikafault system. This system is thought to have focused Late Cretaceous high gradeepithermal, porphyry and skarn style mineralization at many locations along its150 km length.To date, 20 major veinstructures have been identified on the Connaught property.Where exposed, the veins are typically 0.3 to2 m wide and grade between 100 and 3,150 g/t silver, 3 to 64% lead andbackground to 10.90 g/t gold.
The eastern part of theConnaught property is perspective for porphyry-style mineralization.The area is underlain by a stock of LateCretaceous granodiorite with a 'donut' magnetic low geophysical signatureflanked by creeks yielding elevated copper-in-silt values.Where mapped, the granodiorite hostsmagnetite veining within pervasively chlorite and epidote altered granodiorite,indicative of a high-level porphyry system. A specimen sample of the granodiorite returned 0.14% copper.
Stinger Property Purchase
Underthe terms of the property purchase agreement with Independence Gold Corp.("IGO"), ATAC will acquire a 100% interest in the TN 1 through 210 claims.The purchase price will consist of 60,000ATAC shares.IGO will also retain a 1% netsmelter return royalty interest in the TN claims.The transaction remains subject to TSXVenture Exchange acceptance.
QA/QC
Analyticalwork for all projects was done by ALS Minerals, with sample preparation inWhitehorse, Yukon and geochemical analyses in North Vancouver, BritishColumbia.All soil samples were analyzed forgold using fire assay fusion and inductively coupled plasma - atomic emissionspectrometry (Au-ICP21) and 51 other elements by four acid digestion andinductively coupled plasma-atomic emission spectroscopy (ME-MS41).
The technical information in this news release has been approved by HeatherBurrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981)Limited and a qualified person for the purposes of National Instrument 43-101.
About ATAC
ATACis a Yukon-based exploration company focused on developing Canada's onlyCarlin-type gold district at the Rackla Gold Property. Work on the ~1,700 km2property has resulted in an Osiris Project Inferred Mineral Resource of1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt) and apositive Preliminary Economic Assessment for the Tiger Gold Deposit within theRau Project. ATAC and Barrick have partnered to explore the Rackla GoldProperty's Orion Project, with Barrick having the option to earn up to 70% ofOrion by spending $55 million in exploration. ATAC is well-financed withapproximately $15 million in its treasury and is currently completing a $7million exploration program at the Osiris and Rau Projects (which are notsubject to Barrick's earn-in right), while concurrently working with Barrick toadvance the Orion Project.
On behalf of Management andthe Board of Directors of ATAC Resources Ltd.
Graham Downs, President andCEO
For further information, please contact:
Matthew Keevil, VP, Corporate Affairs
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
mkeevil@atacresources.com
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CN Property - Silver Soil Geochemistry