• Wide spaced soil sampling identifies ten new Tier 1 Carlin-type pathfinder±gold anomalies within the Nadaleen Trend;
  • Follow-up exploration of two 2011 Nadaleen Trend anomalies late in the 2012 field season resulted in the drill discovery of the Anubis and Sunrise Zones (Anubis discovery hole AN-12-001 intersected 8.51 m of 19.85 g/t gold and Sunrise discovery hole OS-12-114 intersected 14.86 m of 10.54 g/t gold);
  • Detailed follow-up work at the Pharaoh target 13 km northeast of the Osiris area identified Carlin-type mineralization and quartz veins with visible gold. Grab samples from the quartz vein material returned grades up to 79.40 g/t gold;
  • Prospecting of a 5.6 km long intermittent gold geochemical anomaly 3 km south of the Tiger Deposit in the Rau Trend resulted in the discovery of the Bengal Showing where outcrop channel samples returned grades greater than 3 g/t gold;
  • Property-wide stream sediment geochemical surveys have identified 21 anomalous drainages on the property outside the Nadaleen and Rau Trends for follow-up in 2013; and,
  • Reconnaissance stream silt sampling and geological interpretation beyond the property boundary led to the staking of 84 sq/km of unexplored anomalous drainage basins with favourable Carlin-style geology.

"The ability to consistently make significant new discoveries like Anubis, Pharaoh, Sunrise and Bengal is testimony to the district-scale potential of both trends," states Graham Downs, ATAC's CEO. "With virtually no historical gold exploration along the Rackla Gold Belt and only approximately 16% of the belt having now been geochemically surveyed, we are very optimistic that our ongoing systematic exploration will continue to produce additional discoveries."

From the above it appears that we are up to our A-- in Alligators in the form of:
1) wide spread soil sampling
2) follow up exploration
3) detailed follow up work
4)  property-wide stream sediment geological surveys
5) reconaisance stream silt sampling and geological interpretation
6) expending about 70 MM shares of capital expended on exploration of 16% of the belt
This seems to have evolved into an academic study for a PhD thesis, rather than an attempt to make money (that is to say, drain the swamp).
It appears that it is time to bring in partners to develop the best candidate(s), or to adopt the Altius founding equity stake model and spin these projects out via IPOs while retaining a large portion (~30-40%) of the equity and a royalty on each.  Otherwise I see another 400 MM shares being issued to complete the academic study, and the investors will be further behind than they otherwise should.
Good luck to all including MGT.
I've been in this for ~8 years and I like the technical competence of management, but I think it is time to refocus on draining the swamp,