ATAC Resources (ATC-V) says it has discovered a third area with Carlin-type mineralization at its Pharoah target in the Yukon. The Pharoah gold discovery was 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 Pharoah.
Highlights from the new area include 79.4 grams gold collected from sub-cropping 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 strike length of six kilometres.
Now the company has staked an additional 206 claims northwest of the Pharoah target to cover anomalous drainage basins in the area. Pharoah was first identified in 2011 as a mercury stream sediment anomaly.
Work so far this year at Pharoah has identified gold-bearing mineralization in several separate structures over an areas of 1,300 metres 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. Located
At presstime ATAC was trading at $2.57 per share within a 52-week range of $1.90-$4.50 . It has about 98 million shares outstanding.
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