Announcement • Jul 10
ATAC Resources' Common Shares to Be Delisted from TSX Venture Exchange TSX Venture Exchange Inc. (Exchange) has accepted for filing documentation in connection with a plan of arrangement (Arrangement) pursuant to an arrangement agreement dated April 5, 2023 as amended by an agreement dated May 12, 2023 (Arrangement Agreement) among ATAC Resources Ltd. (ATAC), Hecla Mining Company (Hecla) and Alexco Resource Corp. (Alexco). Pursuant to the terms of the Arrangement Agreement, Hecla acquired all of the issued and outstanding shares of ATAC for consideration payable in shares of Hecla and in shares of a new exploration company, Cascadia Minerals Ltd. (Cascadia). ATAC, Hecla and Alexco closed the Arrangement on July 7, 2023. In conjunction with the closing of the Arrangement, ATAC has requested that its common shares be delisted. Accordingly, effective at the close of business, July 10, 2023, the common shares of ATAC will be delisted from the Exchange. Board Change • May 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Don Poirier was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 14
Victoria Gold Corp. (TSX:VGCX) cancelled the acquisition of ATAC Resources Ltd. (TSXV:ATC). Victoria Gold Corp. (TSX:VGCX) made a non-binding proposal to acquire ATAC Resources Ltd. (TSXV:ATC) for CAD 25.2 million on January 12, 2023. Victoria proposed to offer CAD 0.12 per ATAC share, payable in Victoria shares. ATAC engaged Stikeman Elliott LLP and Agentis Capital Mining Partners as legal and financial advisors, respectively, to evaluate the proposal.
Victoria Gold Corp. (TSX:VGCX) cancelled the acquisition of ATAC Resources Ltd. (TSXV:ATC) on January 17, 2023. ATAC Board of Directors declined Victoria’s proposal on January 17, 2023. ATAC indicated that it was willing to engage in further discussions with Victoria related to a transaction that more fairly valued ATAC. To provide ATAC’s Board of Directors time to reconsider its prior rejection of Victoria’s offer, Victoria is extending its offer until February 17, 2023. Following this, Victoria’s proposal to acquire ATAC will expire. Victoria has no intention of commencing a hostile take-over offer. Announcement • Jan 24
ATAC Resources Ltd. Discovers Additional High-Grade Copper and Gold Mineralization at Catch Property, Yukon ATAC Resources Ltd. announce results of phase two exploration work at the Catch copper-gold property in central Yukon ("the Property"). Phase two work included additional prospecting and mapping, as well as a maiden reverse circulation ("RC") drill program. Exploration Overview: High-grade copper and gold mineralization was identified in outcrop at the main zone across a 500 m extent, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold; Samples from an outcrop of diorite porphyry located 2 km south of the main zone returned 1.45% copper with 0.20 g/t gold, and 1.27% copper with 0.57 g/t gold; 473.97 m of RC drilling was completed in 6 holes, however all holes failed to reach target depth due to equipment limitations and poor ground conditions. Planning is underway to return to the Property with a diamond drill in summer 2023. Catch Exploration Summary: The phase two work program at Catch included collection of 33 infill soil samples, 176 rock samples, and 473.97 m of RC drilling in 6 holes. The prospecting program was highly successful in identifying new zones of surface mineralization, and in expanding the footprint of the main zone. Numerous high-grade outcrop samples were collected, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold – all from the main zone. Mineralization throughout this area is extensive, with high-grade samples collected from outcrops across a 500 m area. Float samples from this zone extend mineralization to a 400 x 600 m area. A new zone with an outcropping diorite porphyry was also identified over 2 km south of the main zone. Samples of the diorite returned 1.45% copper with 0.20 g/t gold and 1.27% copper with 0.57 g/t gold and are coincident with a pronounced 600 x 600 m magnetic low. This outcrop was discovered by prospecting in the final days of the exploration program and very limited sampling has been conducted in this area to-date. With these robust grades and potential for additional associated porphyry-style copper and gold mineralization, this target area is being prioritized for additional work in early 2023. Initial petrographic studies show mineralization at the main zone is dominantly associated with propylitic to sericitic alteration of basalt, hydrothermal breccias and rare diorite host rocks. Petrography of the diorite zone shows dominantly sericitic alteration of diorite and lesser hydrothermal breccia host rocks. RC drilling was aimed at evaluating coincident copper-gold geochemistry at surface and induced polarization ("IP") chargeability at depth within the main zone. Unfortunately, ground conditions proved more challenging than anticipated and the heli-portable RC rig was not able to reach target depth in any hole. Anomalous copper and gold were intersected in multiple holes; however, no significant intercepts were returned. The primary IP target remains untested, and numerous other areas on the Property with high-grade copper and gold in rock have yet to be evaluated by drilling, including the diorite zone. Property Geology and Mineralization: The Property lies within the Stikine Terrane and is immediately adjacent to the 1,000+ km long, deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines. The Property is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km regional magnetic high. Mineralization is associated with propylitic to sericitic alteration of basalt and lesser diorite host rocks. Locally there is intense silicification, brecciation and up to 10% disseminated to blebby pyrite, chalcopyrite and trace bornite and pyrrhotite. Secondary copper minerals including malachite, azurite and tenorite are widespread at surface, and coat fracture surfaces, and are often associated with gypsum. The geology, alteration and mineralization observed throughout the Property are all indicative of a nearby copper-gold ± molybdenum bearing porphyry system. The Property is under option from a Yukon prospector, and ATAC can earn up to a 100% interest in the Property. Announcement • Jan 19
ATAC Resources Ltd. Announces Results of Copper-Gold Exploration At Its Connaught and PIL Properties ATAC Resources Ltd. announce results of reverse circulation ("RC") drilling and prospecting at the road-accessible Connaught Property ("Connaught") in Yukon. These results represent the first-ever drill holes targeting copper porphyry mineralization at Connaught. Results have also been received for phase two work at the PIL Property in BC, which included prospecting at the PIL South target and resampling of historical Atlas zone core. Exploration work at Connaught consisted of prospecting, mapping and RC drilling. A total of 64 rock samples were collected, and 8 RC holes were drilled, totaling 2,164.08 m. These were the first drill holes on the property to target copper porphyry mineralization, with 6 holes at Target Area A, and 2 holes at Target Area C. Holes CNR-22-001 through -006 were drilled at Target Area A, following up on surface trenching results and geophysical anomalies identified in 2021. Hole CNR-22-001 targeted an undercut of trench 21-E (which graded 0.07% copper with 139 ppm molybdenum over 84 m) and returned 0.10% copper with 114 ppm molybdenum from surface to 67.06 m depth. Holes CNR-22-007 and -008 were drilled at Target Area C, to evaluate a strong molybdenum-in-soil anomaly coincident with copper anomalism. While these holes returned broad zones of elevated molybdenum, no significant copper mineralization was encountered. Field crews also conducted prospecting while on-site, including follow-up on historical high-grade silver-lead-gold-copper veins. Samples collected from a vein located 500 m southeast of the camp, returned the highest silver and lead grades to-date on the property, including 4,410 g/t silver with 76.2% lead, 1.04 g/t gold, 0.23% copper and 4,250 g/t silver with 82.5% lead, 0.18 g/t gold, and 0.17% copper. Sampling at this vein also returned strong gold grades, including 695 g/t silver with 15.4% lead, 2.53 g/t gold, and 0.11% copper. This vein, along with the majority of the 26 known epithermal veins on the property,has not been explored with drilling or modern systematic trenching. Work is ongoing to digitize historical records and evaluate potential for additional high-grade vein-hosted mineralization across the property. The phase two program at PIL had two objectives. The first was to conduct follow-up prospecting at the PIL South target, including collection of samples grading 0.70% copper, and 0.64% copper with 77 g/t silver and 155 ppm molybdenum in outcrop 700 m north of the previously defined primary target area. Follow-up sampling in the primary target area yielded samples returning 1.29% copper and 1.24% copper in outcrop. With the large extent of copper mineralization at PIL South in an area of very anomalous copper soil geochemistry, it is being prioritized for exploration in 2023. Crews also sawed and assayed previously unsampled sections of historical drill core from the Atlas zone core, an epithermal gold-silver target. A total of 567.70 m of core, from holes AE-07-001 and AE-07-003 (3.33 g/t gold with 52 g/t silver over 10.0 m previously reported), was sawn and sent for assay. While elevated gold and silver were returned in these newly sampled areas, the resample yielded no significant additional intersections. The completed geochemical data is being used to refine modeling of trends to better target future drillholes. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Don Poirier was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
