ATAC Resources Ltd. (TSXV:ATC) announced a maiden mineral resource estimate for its Osiris project at the Rackla gold property, Yukon.
Highlights are as follows:
Osiris Project Resource Highlights:
- Inferred mineral resource of 1,685,000 ounces gold at an average grade of 4.23 grams per tonne, including a pit-constrained mineral resource containing 1,055,000 ounces of gold at 4.08 grams per tonne;
- Globally competitive discovery cost of C$32 per ounce of gold; and,
- All zones outcrop at surface and remain open in multiple directions; a 10,000 metre drill program is currently underway to increase the Osiris resources.
Graham Downs, president and CEO, commented:
Defining a maiden resource with over one million pit-constrained ounces is a major development for the company and highlights the emerging high-grade open-pit potential. With only 78,614 metres used to define the resource we achieved an excellent discovery rate of over 21 ounces of gold for every metre drilled. Expansion drilling is in full-swing with two drills focused on step-out drilling at the eastern end of the Conrad zone. A total of five drills are now operating between Barrick’s Orion project earn-in and ATAC’s Osiris project, representing our largest drill campaign since 2012.
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