Atac Resources grab samples up to 1.38% copper at Connaught project, Yukon
Atac Resources Ltd. [ATC-TSXV; ATADF-OTC] reported final results from the 2021 exploration work at its 137 km2 Connaught property near Dawson City, Yukon.
The road-accessible 100%-owned Connaught property, located at the head of the Sixty Mile placer gold camp, lies within the 150 km-long Sixtymile-Pika fault system that hosts porphyry, skarn and epithermal mineralization in Yukon and Alaska. Connaught demonstrates compelling copper-molybdenum plus or minus gold porphyry potential along a 13 km trend and hosts 26 distinct silver-lead-gold-copper epithermal veins. The 2021 exploration program focused on evaluating the previously untested copper porphyry potential.
Rock grab samples from trenches returned up to 1.38% copper within a quartz latite dyke and 0.25% copper with 205 ppm molybdenum in a brecciated quartz monzonite. Trench 21-E returned 724 ppm copper and 139 ppm molybdenum over 84 metres, including 0.12% copper and 503 ppm molybdenum over 12 metres. Eight trenches within a 400 x 200-metre area returned >325 ppm copper over lengths from 75 to 108 metres in areas where copper values were expected to be depleted due to surface leaching.
Induced Polarization (IP) and ground magnetic surveys revealed strong geophysical anomalies coincident with trench results. Contract in place for maiden 5,000-metre reverse circulation drill program in 2022.
“We are extremely encouraged by the strong trench response at Connaught. This work has so far tested only one of four copper porphyry target areas along a 13-km trend, which were revealed by geochemical and geophysical work this summer. As this is an unglaciated environment, we expected surface leaching and depletion of copper. The grades we are seeing are extremely exciting in this context,” stated President and CEO, Graham Downs. “With these results we have already finalized a drill contract for a maiden drill program targeting the porphyry in the coming exploration season. Work next season will evaluate all four target areas.”
The 2021 exploration program at Connaught consisted of ten trenches, 113 regional prospecting rock samples, 2,229 soil samples, a property-wide airborne LiDAR survey, 39 km of IP and 113 km of ground magnetics.
Trenches 21-A through J were completed across a pre-existing 1,100 x 500-metre copper- and molybdenum-in-soil anomaly, with 8 of 10 trenches returning >325 ppm copper over 75 – 108 metres. Results for all trenches are presented in the table below. No significant gold was encountered in the trenches.
Grab samples collected from a magnetite skarn 1,500 metres west of the trenching area returned 0.12% copper with 0.54 g/t gold. The skarn occurrence is located 130 metres upslope of an area with highly anomalous gold-in-soil response with values up to 0.43 g/t gold. Historical 1988 drill holes in this area reported multiple skarn intervals with anomalous gold, including 4.25 g/t gold over 1.68 metres in hole 88-006 and 7.30 g/t gold over 0.46 metres in hole 88-008.
Atac is well-financed with approximately $6 million in working capital. Grab samples collected from a magnetite skarn 1,500 metres west of the trenching area returned 0.12% copper with 0.54 g/t gold. The skarn occurrence is located 130 metres upslope of an area with highly anomalous gold-in-soil response with values up to 0.43 g/t gold. Historical 1988 drill holes in this area reported multiple skarn intervals with anomalous gold, including 4.25 g/t gold over 1.68 metres in hole 88-006 and 7.30 g/t gold over 0.46 metres in hole 88-008.