The Idaho Creek Property is located 14 km east of Western Copper and Gold's Casino gold-copper porphyry deposit
ATAC Resources Ltd. (TSX-V: ATC) (“ATAC”) is pleased to announce that it has optioned its Idaho Creek Property to Makara Mining Corp. (CSE: MAKA) (“Makara”). The Idaho Creek Property is located 14 km east of Western Copper and Gold’s Casino gold-copper porphyry deposit and adjacent to Makara’s Rude Creek gold project in central Yukon.
Grid soil sampling at the Idaho property has outlined anomalous gold, silver, lead, arsenic and zinc soil values in four main targets. The anomalous areas are up to 1,200 by 600 m in size and produced soil geochemical values ranging up to 6,550 ppb Au, 122 ppm Ag, 6,180 ppm Pb, 2,620 ppm As, 2,300 ppm Zn and 1,110 ppm Sb.
Property Option Terms
Makara can acquire a 100% interest in the Idaho Creek Property by making aggregate cash payments of C$150,000 and issuing ATAC an aggregate of 750,000 shares by July 1, 2024 and completing C$2,000,000 in work expenditures by December 1, 2024. A one-time milestone payment of C$1.00 per gold equivalent ounce will be paid to ATAC if a mineral resource is identified on the property. ATAC will also retain a 2% net smelter return on the property, one half of which can be purchased by Makara for C$1,000,000.
Source: Company Press Release