ATAC shares fall as Barrick terminates Yukon earn-in
Nearly two years since Barrick Gold partnered with junior ATAC Resources to advance part of the Racklan gold property in the Yukon Territory of north-west Canada, the gold major has terminated its option to acquire an interest in the Orion project.
ATAC president and CEO Graham Downs thanked its partner for the collaboration and sharing of knowledge of the Carlin-style systems over the past two years.
“Though early results from the Orion project may not meet the corporate thresholds at Barrick, the project remains a highly-prospective mineral asset in a top-tier jurisdiction. With over $10-million in working capital, ATAC remains well positioned to continue exploration in 2019 across the Rackla property, including the Orion project,” he said in a press statement.
The Rackla gold project comprises three projects, namely the 100%-owned Carlin-type gold Osiris project, which hosts the Conrad, Osiris, Sunrise and Ibis Carlin-type gold zones; the 100%-owned Rau project, which hosts the Tiger gold deposit; and the Orion project, which was under option to Barrick.
Work on the 1 700 km2 property has resulted in an Osiris project inferred mineral resource of 1.69-million ounces, at an average grade of 4.23 g/t and a positive preliminary economic assessment for the Tiger gold deposit.
In 2018, ATAC completed 7 410 m of diamond drilling in 16 holes, targeting a 15 km2 target area.
ATAC traded 24% lower at C$0.25 a share on Wednesday, giving it a market capitalisation of C$37.25-million.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
