VANCOUVER, BC--(Marketwired - October 26, 2015) - ATAC Resources Ltd. (TSX VENTURE: ATC) (the “Company" or “ATAC”) announces that it has completed the 2015 work program at its Tiger Deposit which focused on completing optimization work recommended in the 2014 Preliminary Economic Assessment (“PEA”).
Key recommendations in the PEA included enhancing the project through further geotechnical, resource, infrastructure and mine plan studies. In view of the PEA recommendations and ongoing work, the Company is also evaluating the possibility of a year-round processing scenario accessed via an all-season road.
Moving to a year-round accessible, 100% agitated tank process has the potential to enhance the mine plan, improve recoveries and reduce project costs by:
- eliminating the heap-leach facility and associated conveyors;
- utilizing a more controllable and conventional agitated tank leach process;
- consolidating facilities closer to the pit to reduce the projects’ environmental footprint and haulage costs; and,
- improving access, operational logistics and project economics.
The Company has initiated a number of studies to support the PEA recommendations and investigate the newly envisioned year-round accessible agitated tank process. Tetra Tech EBA Inc., through their partnership with Nacho Nyak Dun (NELPCo), is conducting an all-season road and power line cost study. Knight Piésold Ltd. is providing a tailings and waste disposal trade-off study. Golder Associates Inc. is undertaking additional geotechnical testing and a revised pit-slope analysis. Archer, Cathro & Associates (1981) Limited is revising the geological model. Options for advancing the Tiger Deposit will be evaluated upon receipt and review of these studies.
A summary of the results from the PEA was announced on July 23, 2014. The report entitled “Preliminary Economic Assessment NI 43-101 Technical Report on the Tiger Gold Project Yukon Territory, Canada” can be viewed at www.sedar.com under the ATAC profile or on ATAC’s website at www.atacresources.com.
The technical information in this news release has been approved by Julia Lane, P.Geo., VP Exploration for ATAC and a qualified person for the purposes of National Instrument 43-101.
About ATAC
ATAC is developing Canada’s only Carlin-type gold district and additional mineral occurrences at its 100% owned, 1,700 sq/km, Rackla Gold Project in Yukon. Exploration on the project has resulted in a positive Preliminary Economic Assessment on the Tiger Gold Project, delineation of multiple high-grade Carlin-type gold zones, the discovery of significant silver-lead-zinc mineralization at Ocelot and the identification of numerous early-stage gold targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC is well-financed with approximately $17 million in its treasury.
On behalf of Management and the Board of Directors
of ATAC Resources Ltd.
Graham Downs, President & CEO
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