2010 Mining Explorers: Atac Resources Ltd.
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Last updated 10/31/2010 at Noon
ATC:TSX-V
President: Robert C. Carne, M.Sc., P.Geo.
Chief Executive Officer: Graham N. Downs
Ian J. Talbot: Chief Operating Officer
ATAC Resources Ltd., organized in 1998 in British Columbia, is a junior exploration company spawned by longtime Yukon mining consultant Archer Cathro Ltd. that is aggressively exploring has more than 16 exploration projects in Yukon Territory, Northwest Territories and British Columbia.
Atac is focused on exploring the Rau gold project situated at the northern edge of the Tintina Gold Belt in east-central Yukon.
In August, the junior increased its 2010 exploration budget for Rau to C$15 million to drill 15,000 meters, up from an 2010 initial drilling program of C$12.5 million for 12,500 meters.
The company had five drills operating in three camps on the 1,300 square-kilometer, or about 502-square-mile, property in early August, with an objective of demonstrating that Rau is a multimillion-ounce property.
In addition to work done at the Tiger zone where it discovered gold in 2008, Atac has identified six new surface gold zones by following up high values from grid and widely spaced reconnaissance soil sampling.
The best zones are in a 500-meter-wide belt, which lies 2-5 kilometers along strike to the northwest of the Tiger zone, in and adjacent to the northwest-striking structural corridor.
The junior Sept. 1 reported a new Carlin-type discovery at the Osiris Target on its Sten claim block, including a 31.3-meter interval averaging 9.26 grams per metric ton gold within a larger interval that averaged 4.65 g/t gold over 65.20 meters.
Atac said initial results of the exploration are very encouraging and numerous targets for follow-up work in 2011 have already been identified.
The junior also said drilling would continue this fall at the Osiris and Tiger zones and other new targets as long as weather permits."
Cash and short-term deposits: C$9.06 million (at June 30, 2010)
Working capital: C$14.0 million (at June 30, 2010) (raised C$22.07 million in private placements in August 2010)
Market capitalization: C$490.7 million
Suite 1016 - 510 West Hastings St.
Vancouver, British Columbia
Canada V6B 1L8
Tel: 604-687-2522
Fax: 604-688-2578
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