Atac Resources drills 0.1% copper over 67.06 metres at Connaught, Yukon

Atac Resources Ltd. [ATC-TSXV; ATADF-OTCQB] reported results of reverse circulation (RC) drilling and prospecting at the road-accessible Connaught property, Yukon. These results represent the first-ever drill holes targeting copper porphyry mineralization at Connaught. Results have also been received for phase two work at the PIL property in British Columbia, which included prospecting at the PIL South target and resampling of historical Atlas zone core.

Exploration Highlights: RC drill hole CNR-22-001 returned 67.06 metres of 0.10% copper with 114 ppm molybdenum from surface in the first ever drill hole targeting porphyry mineralization. Additional RC drill holes at Connaught returned broad intervals of anomalous copper, silver and molybdenum at two target areas, confirming multiple porphyry targets exist on the project.

Prospecting of silver-lead-gold-copper veins at Connaught returned the highest silver and lead grades to-date on the project in an underexplored area: 4,410 g/t silver with 76.2% lead, 1.04 g/t gold, and 0.23% copper; and 4,250 g/t silver with 82.5% lead, 0.18 g/t gold, and 0.17% copper.

Prospecting at the PIL South target on the PIL Property returned samples grading 0.70% copper and 0.64% copper in outcrop located 700 metres north of the previously defined target area.

“The initial drill results from the porphyry targets at Connaught are encouraging. 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. Additional work is required to vector towards higher grade portions of the porphyry system. 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,” stated ATAC’s president and CEO, Graham Downs. “As we continue our initial season of exploration at the PIL Property in BC, the PIL South target continues to produce strong copper and molybdenum values across a significant area. 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.”

Exploration work at Connaught consisted of prospecting, mapping and RC drilling. A total of 64 rock samples were collected, and 8 RC holes were drilled, totaling 2,164.08 m. These were the first drill holes on the property to target copper porphyry mineralization, with 6 holes at Target Area A, and 2 holes at Target Area C.

Holes CNR-22-001 through -006 were drilled at Target Area A, following up on surface trenching results and geophysical anomalies identified in 2021. Hole CNR-22-001 targeted an undercut of trench 21-E (which graded 0.07% copper with 139 ppm molybdenum over 84 metres) and returned 0.10% copper with 114 ppm molybdenum from surface to 67.06 metres depth.

Holes CNR-22-007 and -008 were drilled at Target Area C, to evaluate a strong molybdenum-in-soil anomaly coincident with copper anomalism. While these holes returned broad zones of elevated molybdenum, no significant copper mineralization was encountered.

Field crews also conducted prospecting while on-site, including follow-up on historical high-grade silver-lead-gold-copper veins. Samples collected from a vein located 500 mettres southeast of the camp returned the highest silver and lead grades to-date on the property, including 4,410 g/t silver with 76.2% lead, 1.04 g/t gold, 0.23% copper and 4,250 g/t silver with 82.5% lead, 0.18 g/t gold, and 0.17% copper.

Sampling at this vein also returned strong gold grades, including 695 g/t silver with 15.4% lead, 2.53 g/t gold, and 0.11% copper. This vein, along with the majority of the 26 known epithermal veins on the property, has not been explored with drilling or modern systematic trenching. Work is ongoing to digitize historical records and evaluate potential for additional high-grade vein-hosted mineralization across the property.

The phase two program at PIL had two objectives. The first was to conduct follow-up prospecting at the PIL South target, including collection of samples grading 0.70% copper, and 0.64% copper with 77 g/t silver and 155 ppm molybdenum in outcrop 700 m north of the previously defined primary target area. 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.

The road-accessible Connaught property is located at the head of the Sixty Mile placer camp near Dawson City, Yukon. The project hosts 26 distinct silver-lead-gold-copper epithermal veins and four copper-molybdenum porphyry targets along a 13 km trend.

The PIL Property is located in the in the heart of the 90 x 20 km NW trending Toodoggone district in northern British Columbia, within the eastern part of Stikine Terrane.

The property is under option from Finlay Minerals Ltd. [FYL-TSXV] and ATAC can earn a 70% interest in the project by making a series of staged payments and work expenditures.

ATAC is well-financed with approximately $5 million in working capital.