ATAC Resources (ATC-V) says it has discovered a third area with Carlin-type gold mineralization at its Pharaoh target in the Yukon. This find is the junior’s second gold discovery this year.
The new target is 13 km northeast of the company’s Conrad, Osiris, Isis and Isis East gold zones within the Nadaleen trend, and about 20 km northeast of its recently discovered Anubis target, also at Pharaoh.
Highlights from the new area include a grab sample of 79.4 grams gold collected from subcropping quartz veins with visible gold along stylolitic features, and limonitic quartz vein talus grab samples returning up to 49.60 grams gold.
The junior explorer also reported finding outcropping silicified breccias mineralized with the Carlin-type indicator minerals realgar, cinnabar and stibnite, as well as strongly anomalous antimony-arsenic-gold soil geochemical responses, intermittently along a 6 km strike length.
The company has staked an additional 206 claims northwest of the Pharaoh target to cover anomalous drainage basins in the area.
Pharaoh was first identified in 2011, as a mercury stream sediment anomaly.
Work at Pharoah this year has identified gold-bearing mineralization in several separate structures over an area of 1,300 by 600 metres.
Pharoah expands ATAC’s area of gold discoveries in the Rackla gold belt to more than 55 sq. km.
The Rackla gold belt, about 55 km northeast of Keno City, hosts two distinct trends: Nadaleen and Rau.
At press time, ATAC was trading at $2.50 per share within a 52-week range of $1.90 to $4.50. It has 98 million shares outstanding.
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