North of 60 Mining News - The mining newspaper for Alaska and Canada's North

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By A.J. Roan
Mining News 

Year looks bright for ATAC YT-BC projects

2023 reveals promising results from Catch, Connaught and PIL North of 60 Mining News – January 27, 2023


Last updated 3/2/2023 at 3:05pm

An ATAC helicopter flying through the beautiful mountainous valley's of Yukon.

ATAC Resources Ltd.

Although it has been advancing the substantial Rackla gold project, ATAC has also spread its attention to several new prospects throughout northwestern Canada.

ATAC Resources Ltd. Jan. 23 announced the results from its second phase of exploration at the company's Catch copper-gold property in central Yukon, which identified a high-grade copper and gold mineralized zone across a 500-meter extent.

Located in an underexplored part of southcentral Yukon, about 56 kilometers (35 miles) southeast of Carmacks, this 15.7-square-kilometer (3,880 acres) property is a previously undrilled discovery property prospective for significant copper and gold porphyry mineralization.

Optioning Catch at the onset of 2022 from a local geologist, ATAC quickly endeavored to crack open this highly prospective property.

Initiating its first phase in the latter half of the year, exploration consisted of prospecting, mapping, soil sampling, and geophysical surveys. This included the collection of 50 rock samples and 359 soil samples, and the completion of 10.1 line-kilometers of induced polarization and 49.3 line-kilometers of ground magnetic geophysical surveys.

Highlighted rock samples from this initial phase includes:

1.36% copper and 0.13 grams per metric ton gold.

1.01% copper and 1.03 g/t gold.

1.57% copper.

The second phase work program at Catch included the collection of 33 infill soil samples, 176 rock samples, and 473.97 meters of reverse circulation drilling in six holes.

"We continue to be impressed by the amount of surface mineralization present at Catch," said ATAC Resources President and CEO Graham Downs. "During the phase two program our crews continually discovered new areas of float and bedrock mineralization by following up on soil sample anomalies. We have now defined an extensive zone of high-grade copper and gold in altered and brecciated basalt at the main zone, and identified a mineralized diorite intrusion over two kilometers to the south."

The prospecting program was highly successful in identifying new zones of surface mineralization, and in expanding the footprint of the main zone. Numerous high-grade outcrop samples were collected, including 3.03% copper and 4.46 g/t gold; 2.83% copper and 6.07 g/t gold; and 0.42% copper and 14.6 g/t gold – all from the main zone.

ATAC says that mineralization throughout this area is extensive, with high-grade samples collected from outcrops across a 500 meter area, and float samples from this zone extend mineralization to a 400- by 600-meter area.

"This diorite-hosted discovery is critically important for the project, as it demonstrates that a copper-gold bearing intrusion is present at surface," said Downs.

In addition to the main mineralized zone discovery, a new zone with an outcropping diorite porphyry was also identified over 2,000 meters south of the main zone. Samples of the diorite returned 1.45% copper and 0.2 g/t gold; and 1.27% copper with 0.57 g/t gold and are coincident with a pronounced 600- by 600-meter magnetic low.

The company added that this outcrop was discovered by prospecting in the final days of the exploration program and thus had very limited sampling in the area.

"Unfortunately, subsurface conditions were more challenging than expected and the small fly RC drill rig we had on site was not able to test our geophysical targets at depth," the ATAC CEO said. "We plan to be back at Catch this summer with a larger diamond drill rig which will allow for evaluation of multiple targets areas across the property, including the first holes at the diorite zone."

Ultimately, nearly 500 meters of RC drilling was completed in six holes, however all the holes failed to reach target depth due to equipment limitations and poor ground conditions.

Nevertheless, with these robust grades and potential for additional associated porphyry-style copper and gold mineralization, this target area is being prioritized for additional work in early 2023.

Connaught update

Aside from the exciting initial results from Catch, ATAC announced Jan. 18 the results from its RC drilling and prospecting program at the Connaught property, as well as the second phase of work undertaken at PIL.

"The initial drill results from the porphyry targets at Connaught are encouraging," said Downs at the time of the release. "Identifying porphyry copper deposits often requires dozens of drill holes and the intersection of 0.10% copper from surface in our first drill hole confirms the porphyry potential on this large property."

Located about 65 kilometers (40 miles) west of Dawson City and 10 kilometers (six miles) east of the Alaska-Yukon border, the road-accessible Connaught became the deposit of ATAC's focus after setbacks on the company's flagship Rackla project were hampered by denial of a tote road that would connect this Carlin-style gold property to greater Yukon.

Nonetheless, the company decided to knuckle down on newer properties.

Exploration work at Connaught consisted of prospecting, mapping, and RC drilling. A total of 64 rock samples were collected, and eight RC holes were drilled for a total of 2,164.08 meters.

These were the first drill holes on the property aimed at targeting the copper porphyry mineralization, with six holes at Target Area A, and two holes at Target Area C.

The most significant result returned came from hole CNR-22-001, which cut 67.06 meters of 0.1% copper with 114 parts per million molybdenum from surface. Additional holes returned broad intervals of anomalous copper, silver, and molybdenum at the two target areas, which confirm multiple porphyry targets to exist on the project.

"Additional work is required to vector towards higher grade portions of the porphyry system," added Downs. "In addition to the porphyry targets, there is an extensive network of silver-lead-gold epithermal veins across the property that continue to deliver very high-grade results."

PIL update

Located further south within the province of British Columbia, the PIL property is found in the heart of the 90- by 20-kilometer northwest trending Toodoggone district in Northern BC, within the eastern part of the Stikine Terrane.

Map showing all of ATAC Resources' various northwestern Canadian properties.

ATAC Resources Ltd.

The phase two program at PIL had two objectives, the first was to conduct follow-up prospecting at the PIL South target, which included collection of samples averaging 0.7% copper; and 0.64% copper, 77 g/t silver, and 155 ppm molybdenum in an outcrop 700 meters north of the previously defined primary target area.

"As we continue our initial season of exploration at the PIL property in BC, the PIL South targets continues to produce strong copper and molybdenum values across a significant area," the CEO said. "We look forward to moving this target forward in the coming season as we continue to systematically evaluate this district-scale property in the heart of BC's Toodoggone region."

Follow-up sampling in the primary target area yielded samples returning 1.29% copper and 1.24% copper in outcrop. With the large extent of copper mineralization at PIL South in an area of very anomalous copper soil geochemistry, it is being prioritized for exploration in 2023.


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