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ATAC Extends Letter of Intent with Hecla Mining Company
ATAC Extends Letter of Intent with Hecla Mining Company Canada NewsWire VAN...
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[{"type":"text","content":"\n \n \n \n ATAC Extends Letter of Intent with Hecla Mining Company\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 14, 2023\n \n \n /CNW/ - ATAC Resources Ltd. (\"ATAC\") (TSXV: ATC) (OTCQB: ATADF) announces that it has extended the effective period of a Letter of Intent, including the exclusivity provisions, with Hecla Mining Company from\n \n March 15, 2023\n \n to the earlier of: (i) the date a definitive agreement is executed, or (ii)\n \n April 14, 2023\n \n .\n \n \n \n \n \n \n \n \n \n The extension is to allow for the completion of ongoing due diligence work by both companies and the completion of a definitive and binding agreement in connection with the proposed transaction. No other amendments to the Letter of Intent have been made.\n \n \n For further details on the proposed transaction, please see ATAC's news release dated\n \n February 21, 2023\n \n .\n \n \n \n About ATAC\n \n \n \n ATAC is a Canadian exploration company focused on exploring for gold and copper in\n \n Yukon\n \n , BC and\n \n Nevada\n \n . Work on its ~1,700 km\n \n 2\n \n Rackla Gold Property in\n \n Yukon\n \n has resulted in the Osiris Deposit Indicated Resource of 732,000 oz of gold at 4.12 g/t (in 5.5 Mt) and Inferred Resource of 1,044,000 oz of gold at 3.47 g/t (in 9.4 Mt), the Tiger Deposit Measured & Indicated Resource of 464,000 oz of gold at an average grade of 3.19 g/t (in 4.5 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of\n \n $118.2M\n \n and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC is well-financed with approximately\n \n $4.5 million\n \n in working capital.\n \n \n The technical information in this news release has been approved by\n \n Andrew Carne\n \n , M.Eng., P.Eng., VP Corporate & Project Development for ATAC and a qualified person for the purposes of National Instrument 43-101.\n \n \n On behalf of ATAC Resources Ltd.\n \n \n \n Graham Downs\n \n , President, C...