GOLD: PEA for Tiger deposit at Rackla project is promising

YUKON – ATAC Resources of Vancouver has completed a positive preliminary economic assessment for the oxide portion of the Tiger gold deposit at the western end of its Rackla gold project 55 km northeast of Keno City. The Tiger deposit was discovered in 2007 and is, ATAC points out, distinct from the more recent, large scale Carlin-type discoveries 100 km to the east. The Carlin-type ground remains the focus of the company's exploration work.

Using a gold price of US$1,250/oz, the PEA examined a conventional open pit mine. Overall recovery is estimated at 89.8% from a hybrid heap leach, agitated tank and carbon-in-leach process. Tiger would be a seasonal operation that would over the course of four years recover 221,558 oz of gold from 2.06 million tonnes of ore at 3.72 g/t Au.

ATAC expects pre-production spending to be $92.3 million. The project carries a pre-tax net present value of $52.1 million (5% discount) and an internal rate of return of 30%. All-in sustaining cash costs will be $626/oz. (Should the price of gold rise to US$1,350/oz, the pre-tax NPV increases to $72.6 million and the IRR becomes 39.5%.)

For a map of the Rackla gold project, including the location of the Tiger deposit, visit ATACResources.com.