Altan Nevada Announces Encouraging Results at North Star Gold Project in Nevada, Partner Withdraws

company news | Projects : North Star
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May 21, 2015 – Vancouver, British Columbia – Altan Nevada Minerals Ltd. (TSX.V: ANE) (“Altan Nevada” or the “Company”) announces that Teck American Incorporated (“Teck”) has withdrawn from North Star project (“North Star” or the “Property”) located in Elko County, Nevada.  Teck has transmitted a report and all pertinent data to the Company subsequent to the completion of the 2014 exploration program. A brief summary of the project and results follows.

Altan Nevada’s management is strongly encouraged by the results of this first round of deep exploration drilling at North Star, which we believe reinforces our view that the entire southeastern half of the uplifted horst block is prospective for the discovery of a major Carlin-type ore body.

The Company is currently evaluating the data from drilling in detail. As a part of this effort, the Company is scheduling a third-party review of the core and data by an independent consultant with demonstrated expertise in Carlin Trend exploration geology.

Provisions for carrying the project forward will be formed subsequent to receipt of the results from the third-party review, which we expect before the end of the second quarter or early in the third quarter.

Program Summary

During the autumn of 2104, Teck drilled a single vertical core hole at the project. A key objective of the drill program was to test for favorable Lower Plate strata at reasonable depths. The hole was collared in the Upper Plate Vinini Formation. At a depth of 559 meters, the hole passed through a 10 meter thick shear zone and into a distinctly different lithologic unit consisting of mudstone, siltstone, calcareous siltstone, chert, laminated siliceous mudstone, and dolomitic siltstone. Teck’s geologic staff logged these strata as Devonian Rodeo Creek Formation, an important Lower Plate unit on the Carlin Trend, after recognizing similarities between rocks intersected below 559 meters and published descriptions of the unit on the Carlin Trend. Their logging of the core indicates that zones of silicification and decalcification are present in this rock package. This lower rock unit contains several zones strongly anomalous in mercury (+1 ppm), an important pathfinder element in Carlin-type gold systems. These anomalous zones included a continuous interval of 1 to 3.9 ppm mercury from 614.5 meters to 654.5 meters. The hole terminated at 902 meters in siliceous mudstone after passing through a 58.7 meter interval of breccia, calcareous siltstone and dolomitic siltstone.

Teck conducted a program of micropaleontology sampling in an effort to corroborate their preliminary stratigraphic interpretation, however it proved impossible to obtain fossils which would yield any conclusive information on the age of the lower rock package.

nstar

Gravity anomaly map of the Carlin Trend, showing position of the North Star project relative to major producing gold mines.

5_15 NS PR DH Section

North Star

North Star is an underexplored gold project located at the northern extent of prospective Paleozoic rock exposures along the strike of the Carlin Trend.  The project is 55 km north-northwest of Barrick’s Goldstrike operation (52 Moz past production plus current reserves).

Gravity data compiled by Altan Nevada’s geophysical consultant indicates that North Star occupies part of an upthrown block of Paleozoic sedimentary rocks. Previous explorers conducted important geochemical and geophysical surveys, including four lines of CSAMT profiling and a number of shallow reverse circulation holes which bottomed in Upper Plate strata of the Roberts Mountains Thrust projected to overlie favorable Carlin Trend host rocks (Lower Plate). Hydrothermal alteration at surface is characteristic of Carlin-type deposits, with local jasperoidal silicification and anomalous gold and other associated elements. Altered rocks carry up to 1059 ppb Au, 457 ppm As, 14 ppm Sb and 3.6 ppm Hg. Geochemical sampling and trenching delineated a 2 kilometer long NNE-striking Au-As-Sb anomaly associated with a major fault. These anomalies are typical of the geochemical signature of Carlin-type gold deposits.

The property consists of 163 lode mining claims, comprising 1276 hectares, 44 claims 100% owned by Altan Nevada with the balance held under option from Genesis Gold Corp, a private Utah Corporation.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total approximately 8,350 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada.

Competent Person Statement

Altan Nevada’s Exploration Director, Brion Theriault, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Property.

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:
Evan Jones
Altan Nevada Minerals Limited
Tel: +1 604 495 8374
Email: [email protected]
Web: www.altnev.com


This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces Partner Commences Drilling at the Radar Gold Project, Paradise Peak District, Nevada

company news | Projects : Radar
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March 18, 2015 – Vancouver, British Colombia – Altan Nevada Minerals Limited (TSX-V: ANE) (“Altan Nevada” or the “Company”) is pleased to announce that partner Gold Resource Corp. (NYSE MKT:GORO) (“Gold Resource”) has commenced a 1780 meter Phase I diamond drill program at the Company’s Radar gold-silver project (“Radar” or the “Property”) located in the Paradise Peak district, Mineral and Nye Counties, Nevada.

The program is designed to test six new high-grade epithermal vein targets generated by Gold Resource’s geological staff following completion of new detailed mapping program and the compilation of Altan Nevada’s extensive geological, geochemical, geophysical and drill data. Gold Resource plans to drill 6 holes to depths of between 250 and 340 meters. Falcon Drilling Inc. is under contract to operate the program, which is expected to complete in Q2.

Targets are located approximately 1.4 to 3.4 kilometers south of drilling completed at the Property in 2014 by Avidian Gold Inc (“Avidian”), a private Nevada corporation. Previously announced mineralized intercepts from Avidian’s program included 35.0 meters grading 0.641 g/t Au (including 6.1 meters grading 1.39 g/t Au) from 56.4 meters to 91.4 meters in drill hole CLD-17 and 48.7 meters grading 0.387 g/t Au from 36.6 meters to 85.3 meters in CLD-18.

Radar

Radar consists of 204 unpatented mining claims located in the productive Walker Lane mineral belt in western Nevada. There are 26 claims leased to Avidian. In 2014 Altan Nevada concluded a separate lease agreement with Gold Resource for the remaining 178 claims.

Radar is a high-sulfidation epithermal precious metals target hosted by highly altered Miocene volcanic rocks. The property is adjacent to the past-producing Paradise Peak open pit Au-Ag mine (1.53 million ounces Au, 40.7 million ounces Ag, 1986 -1993) and is located 2 kilometers from the main pit and mill, with satellite pits as close as 75 meters from the property boundary.

Altan Nevada has spent over $US 1.1 million to develop targets at the Radar project since 2006. Targeting included detailed geologic mapping, geochemistry, geophysics and first-pass drilling.

Prospective targets include near-surface porphyry stockworks as well as high-grade veins similar to those mined in the Goldfield district, located in the Walker Lane approximately 132 kilometers southeast of the Property. The Goldfield district is a classic high-sulfidation epithermal vein system with historic bonanza grades over 600 g/t Au. Structural zones at Radar with strong alteration and gold-pathfinder element anomalies are compelling targets for this style of mineralization.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total approximately 8,350 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in western Nevada.

Competent Person Statement

Altan Nevada’s Exploration Director, Brion Theriault, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Property.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:
Evan Jones
Altan Nevada Minerals Limited
Tel: +1 604 495 8374
Email: [email protected]
Web: www.altnev.com


This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Provides update on Radar Project and General Update, Nevada

company news | Projects : North Star, Radar, Venus
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February 4, 2015 – Vancouver, British Columbia – Altan Nevada Minerals Limited (TSX.V:ANE) (“Altan Nevada” or the “Company”) (TSX-V: ANE) is pleased to announce that partner Avidian Gold US Inc. (“Avidian”), a private Nevada corporation, has reported results of its’ 2014 reverse-circulation drilling program at the Company’s Radar gold-silver project (“Radar” or the “Property”) located in the Paradise Peak district, Mineral and Nye Counties, Nevada. Results include 35m grading 0.641 g/t Au.

Furthermore, Altan Nevada’s other partner at Radar, Gold Resource Corporation (“Gold Resource”), has acquired an adjoining claim block in an area where prior drilling intercepted mineralized material. These claims have been included in the Radar project.

Brion Theriault, Altan Nevada’s Exploration Manager, commented:

“The early stage drilling by Avidian corroborates our view that the Paradise Peak district is substantially underexplored and that the Radar project incorporates some of the most highly prospective ground therein. These results demonstrate that there is potential for the discovery of bulk-minable ore bodies at Radar in addition to high-grade vein targets.”

And further commented:

“The addition of the Goose claims in the same highly altered and anomalous area, a little over 2 kilometers from the original Paradise Peak pit, provides a significant opportunity to upgrade the previously identified mineralized material. We look forward to receiving further news this season from Gold Resource as they evaluate this exciting new exploration target.”

Radar

Avidian completed 292.6 meters of RC drilling in three holes during late October 2014. The drilling, part of Avidian’s County Line project, took place approximately 850 meters southeast of the past-producing County Line open pit deposit and approximately 400 meters south of the past-producing East Zone pit (Figure 1). The County Line and East Zone pits were part of FMC Gold’s Paradise Peak mine, operated during the mid-80’s to early 90’s, with total production of 1.46 Moz Au and 38.9 Moz Ag. The County Line deposit had a published historic reserve of 2.38 Mt grading 1.06 g/t Au, hosted by silicified welded ash flow tuffs, while the East Zone deposit had a historic reserve of 0.393 Mt grading 0.58 g/t Au, hosted by quartz stockworks in andesite flows.

Mineralized intercepts in Avidian’s drill holes included 35.0 meters grading 0.641 g/t Au (including 6.1 meters grading 1.39 g/t Au) from 56.4 meters to 91.4 meters in drill hole CLD-17 and 48.7 meters grading 0.387 g/t Au from 36.6 meters to 85.3 meters in CLD-18. The intercept in CLD-17 bottomed in mineralized material. Significant assays are detailed in Table 1.

These intercepts were in moderately to strongly quartz-sericite-pyrite altered dacite porphyry. Depth of oxidation ranged from 13 to 36.6 meters. There were no significant silver intercepts. The holes were collared within a roughly 4.5 square kilometer gold-in-soil anomaly present in the northern part of the Radar property (Figure 1).

Avidian 2014 County Line Zone Significant Drill Hole Intercepts Table 1 – Avidian 2014 County Line Zone Significant Drill Hole Intercepts

Radar Project, Showing Drill Hole Collars, Goose Property and Soil Au Geochemistry. Figure 1: Radar Project, Showing Drill Hole Collars, Goose Property and Soil Au Geochemistry.

The Company is also pleased to announce that it’s partner on the remainder of the property, Gold Resource entered into a lease option agreement on December 18th, 2014 with Nevada Eagle LLC to acquire the Goose claims, which adjoin the Radar project to the northeast (Figure 1). The Goose property, comprising approximately 40.5 hectares, covers a portion of the Newman Ridge area. An unpublished report obtained by the Company states that drilling by FMC Gold in the Newman Ridge area in 1988 intercepted mineralized material in 17 shallow holes, with gold grades up to 2.19 g/t, including 15.2 meters at 1.13 g/t Au in drill hole N-115. The Company has not independently verified this data.”

Under the terms of the lease agreement signed between the Company and Gold Resource on September 8th, 2014 covering the entire portion of the Radar property not leased to Avidian, the Goose property becomes subject to the terms and conditions of that agreement.

The Radar property consists of 204 unpatented mining claims and is located in the productive Walker Lane mineral belt in western Nevada. There are 26 claims leased to Avidian (Figure 1). In 2014 Altan Nevada concluded a separate lease agreement with Gold Resource Corporation (“Gold Resource”) (GORO: NYSE MKT) for the remaining 178 claims. Radar is a high-sulfidation epithermal precious metals target hosted by highly altered Miocene volcanic rocks. The property is approximately 2 kilometers from the Paradise Peak mill, currently in care and maintenance and available for purchase. Altan Nevada has spent over $US 1.1 million to develop targets at the Radar project since 2006, including detailed geologic mapping, geochemistry, geophysics and first-pass drilling.

In addition to the near-surface porphyry stockwork targets which Avidian is exploring, mineralized structures at Radar are prospective hosts for high-grade veins similar to those mined in the Goldfield district, located in the Walker Lane approximately 132 kilometers southeast of Radar. The Goldfield district is a classic high-sulfidation epithermal vein system with historic bonanza grades over 600 g/t Au. NW- and NNW-striking structural zones at Radar with strong alteration and gold-pathfinder element anomalies (including Ag, As and Hg) are compelling targets for this style of mineralization.

North Star Project

A wholly owned subsidiary of Teck Resources Limited, Canada’s largest diversified resources company (“Teck”), Altan Nevada’s partner at its North Star project in Elko County, Nevada, completed a 902 meter diamond drill hole at the property in November, 2014. Altan Nevada is awaiting a final report on the 2014 drill program from Teck. The North Star property occupies a gravity high and block of exposed, hydrothermally altered Paleozoic rock along the projection of the Carlin Trend, approximately 55 km north-northwest of Barrick’s Goldstrike mine (52 Moz past production plus current reserves).

Venus Project

Altan Nevada’s management was encouraged to learn that on December 30th, 2014 Nevada Copper Corp. announced a US$200 million senior secured loan facility to advance their Pumpkin Hollow copper-gold project to production. Pumpkin Hollow, which hosts proven and probable reserves of 5.2 billion pounds of copper and 989,000 ounces of gold, is directly adjacent to Altan Nevada’s Venus project in the Yerington district, Lyon County, Nevada. The confidence expressed by Nevada Copper’s investors draws attention to the extraordinary mineral potential of the Yerington district and reflects the increased significance of Altan Nevada’s 8.8 square kilometer land position near the headframe of what will be a major mine.

Evan Jones, President & CEO commented “Venus should now properly be considered a brownfields opportunity. The Company is actively seeking a partner to explore the project.”

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total approximately 8,350 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in western Nevada.

Competent Person Statement

Altan Nevada’s Exploration Director, Brion Theriault, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Property.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:
Evan Jones
Altan Nevada Minerals Limited
Tel: +1 604 495 8374
Email: [email protected]
Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces Partner Commences Drilling at the North Star Gold Project in Nevada

company news | Projects : North Star
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October 06, 2014 – Vancouver, British Columbia – Altan Nevada Minerals Ltd. (TSX.V: ANE) (“Altan Nevada” or the “Company”) is pleased to announce that a wholly owned subsidiary of Teck Resources Limited (“Teck”), Canada’s largest diversified resource company, has commenced drilling on the North Star gold property (“North Star” or the “Property”) located in Elko County, Nevada.

The program is designed to test for favorable Lower Plate host rocks and Carlin-style gold mineralization and alteration at North Star, which lies on the northern extension of the prolific Carlin Trend mineral belt.

Brion Theriault, Altan Nevada’s Exploration Manager stated, “Teck’s drill program will be the highlight of the first integrated exploration program at North Star designed to test the same regional stratigraphic section which hosts Newmont’s and Barrick’s multimillion ounce gold deposits located to the south on the Carlin Trend. Intersecting Lower Plate strata in a setting with such pronounced geologic, geochemical and geophysical similarities to the Carlin gold systems would open the door to the possibility of a discovery of exceptional significance.“

Evan Jones, Altan Nevada’s President & CEO, commented, “I am pleased that our pivot towards attracting partners on a project level has afforded our shareholders exploration upside on a project that we otherwise may not have been in a position to evaluate for some time.”

North Star

North Star is an underexplored gold project located at the northern extent of prospective Paleozoic rock exposures along the strike of the Carlin Trend. The Property is 55 km north-northwest of Barrick’s Goldstrike operation (52 Moz past production plus current reserves).

Gravity data compiled by Altan Nevada shows that North Star occupies part of an upthrown block of Paleozoic sedimentary rocks. The gravity field displays steep gradients within and on the margins of the horst block, suggesting the presence of large structures similar to those which act as major ore controlling features in Carlin-type ore bodies. Previous explorers conducted significant geochemical and geophysical surveys, including four lines of CSAMT profiling. Historic drilling focused on near-surface targets, and the critical Lower Plate stratigraphic section which hosts major gold ore bodies on the Carlin Trend, the target of the current drilling, has not previously been tested. Drilling south of North Star, however, intersected interpreted Lower Plate host rocks at 490 meters. Hydrothermal alteration including structurally controlled jasperoids, is present at surface and accompanied by a coincident 2 kilometer long NNE-striking anomalous Au-As-Sb-Hg geochemical signature associated with the Separator Fault. Trenching by Altan Nevada in 2012 exposed up to 3 meters at 1.06 g/t gold.

As such, North Star is considered by Altan Nevada to be a compelling target.

Gravity map of Carlin Trend.

Figure 1. Gravity map of Carlin Trend, illustrating proximity of North Star to producing mines, including Goldstrike.

North Star trench location on geology background.

Figure 2. North Star trench location on geology background showing soil arsenic anomaly and gold results from trench samples.

Under the terms of the December 2013 Option / JV Agreement Teck can earn an undivided 70% interest in the Property by incurring $5,000,000 in expenditures on the project. The Property consists of 163 lode mining claims, comprising 1276 hectares, 44 claims 100% owned by Altan Nevada with the balance held under option from Genesis Gold Corp, a private Utah Corporation.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total approximately 8,350 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada.

Competent Person Statement

Altan Nevada’s Exploration Director, Brion Theriault, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Property.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

Altan Nevada Minerals Limited

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces Lease Agreement with Gold Resource Corporation on Radar Property in Nevada

company news | Projects : Radar
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September 10, 2014 – Vancouver, British Columbia – Altan Nevada Minerals Ltd. (TSX.V: ANE) (“Altan Nevada” or the “Company”) is pleased to announce that it has entered into an Agreement with  a wholly owned subsidiary of  Gold Resource Corporation (NYSE MKT: GORO), a low-cost gold producer with operations in Mexico  (“Gold Resource Corp”), on 178 out of 204 unpatented lode mining claims covering approximately 88.7% (3,550 acres) of Company’s Radar Gold-Silver Project (the “Property” or “Radar”) situated in Mineral and Nye Counties, Nevada, whereby  Gold Resource Corp, subject to meeting certain annual payment and work expenditure requirements,  has the option to purchase a 100% interest in the Property for $US 1,500,000, with Altan Nevada retaining a 3% Net Smelter Return royalty.

Evan Jones, Altan Nevada’s President & CEO, stated: “We are delighted to have partnered with a well-resourced and low cost producer to advance Radar.”

“As shareholders will be aware, the ability for junior explorers such as Altan Nevada to raise capital to fund a significant drilling program is prohibitively dilutive in the current market environment. As such, by entering into this agreement, our shareholders will be able to participate in the drilling of a project that we otherwise may not have been in a position to evaluate for some time.”

“This is the second property that Altan Nevada has secured a partner to advance in the past twelve months. This independently validates our view that the company’s exploration portfolio is compelling.”

 Radar

Radar is a high-sulfidation epithermal precious metals project located in the productive Walker Lane mineral belt in western Nevada. The project covers an area of approximately 4,070 acres directly adjacent to the past producing Paradise Peak gold-silver mine and approximately 2 km from the Paradise Peak mill, currently in care and maintenance. FMC Gold Company operated Paradise Peak from 1986 to 1993, producing 1.53 million ounces of gold and 40.7 million ounces of silver from several open pits. The ore deposit was a Miocene high-sulfidation epithermal gold-silver system hosted by silicified ash-flow tuff.

Altan Nevada has spent over $US 1.1 million in exploration at the Property since 2006 including detailed geologic mapping, geochemistry, geophysics and first-pass drilling. Mineralized structures at Radar are prospective hosts for high-grade vein systems similar to those historically mined in the Goldfield district, located in the Walker Lane approximately 132 km southeast of Radar. The Goldfield district is a classic high-sulfidation epithermal vein system with bonanza gold grades over 600 g/t. NW- and NNW-striking structural zones at Radar with strong alteration and gold- pathfinder element anomalies (including Ag, As, and Hg) are compelling targets for this style of mineralization.

Brion Theriault, Altan Nevada’s Exploration Manager, stated “We are very excited to be bringing Gold Resource Corporation in as our partner at Radar. They have proven expertise in epithermal systems evident from their success in discovering and delineating high-grade veins in Mexico. We look forward to working with their geologic staff in formulating an ambitious exploration program.”

 

Aerial photo of Radar property, showing Paradise Peak mine pits in foreground.

Aerial photo of Radar property, showing Paradise Peak mine pits in foreground.

Under the terms of the Agreement, dated September 8th, 2014 (the “Effective Date”), Gold Resource Corp shall make the following payments:

Date Amount
On the Effective Date $50,000
First anniversary of  the Effective Date $100,000
Second anniversary of  the Effective Date $150,000
Third anniversary of  the Effective Date $200,000
Fourth anniversary and each subsequent anniversary of  the Effective Date of  the Effective Date $250,000

In addition, in order to maintain the Agreement in good standing, Gold Resource Corp shall meet work commitments within the one year period following the Effective Date and each anniversary of the Effective Date in the minimum amount of $250,000.

At any time during the term of the Agreement, the Property can be purchased, at the election of Gold Resource Corporation, for a one-time payment of $1,500,000. Altan Nevada then becomes entitled to receive a royalty equal to 3% of the Net Smelter Returns (“NSR”) from the production of minerals on the Property, which can be reduced to a 2% NSR royalty by way of a one-time payment by Gold Resource Corporation of $1,000,000.

About Gold Resource Corporation

Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital.  The Company has: a 100% interest in six potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca; a demonstrated ability to fast track development; and is capitalized at over $300 million.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 15,002 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada.

Competent Person Statement

Altan Nevada’s Exploration Director, Brion Theriault, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Property.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

Altan Nevada Minerals Limited

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Northern Miner – Altan CEO gets creative to finance greenfield exploration

3rd party media | Projects : North Star
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
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For further information on any of the articles, please contact the authors directly.

VOL. 100, NO. 5 • SINCE 1915

BY MATTHEW KEEVIL VANCOUVER — It has been a lean two years for mineral explorers, and Evan Jones has seen just how tough capital markets have been on juniors, having guided sister companies Altan Rio Minerals (TSXV: AMO) and Altan Nevada Minerals (TSXV: ANE; US-OTC:ATNVF) to advance early stage assets on opposite sides of the globe.

But to start 2014, president and CEO Jones and his team have closed two deals that should see the drills turning again later this year. These aren’t traditional retail placements, but two creative-financing options that juniors could use to advance greenfield properties.

Altan Rio is a prospective area play in Mongolia that houses a speculative copper porphyry target, along with two gold projects. Two years ago Altan Rio had been focused on its 825 sq. km Chandman–Yol copper property in Mongolia’s western Khovd province.

“To get active at Chandman again, I think we really need to go in there with a larger budget,” Jones says during an interview. “Even if the money was available to do justice to the project it would simply be too dilutive. We’re thinking the most attractive way to advance Chandman is through a joint venture.”

Altan Rio has shifted its attention for this season to the Khavchuu orogenic lode gold target in the country’s Tov province, which lies 10 km west of Centerra Gold’s (TSX: CG; US-OTC:CAGDF) Boroo gold mine and mill complex. In 2012 the company completed a 1,900-metre, scout-drill program at Khavchuu. The best intersection was in hole 5, which cut 11.5 grams gold per tonne over 1 metre in a structurally complicated area on the edge of a large Boroo complex granitoid.

Khavchuu played a large part in attracting the European Bank for Reconstruction and Development (EBRD) to Altan Rio, with the bank offering the company an equity facility in January that could be worth $10 million.

To start, the EBRD will buy 16.7 million shares in Altan Rio at 6¢ per share. Under the agreement, the EBRD has committed to invest a minimum of $5 million and a maximum of $10 million in share purchases, in minimum tranches of $1 million.

“We’re really happy they’ve backed the team to move things forward . . . when we raise future money from arm’s length third parties, they’ll match the terms,” Jones says. “We’ll be stepping out from our discovery hole at Khavchuu and look to hit some economic widths. The location would make it a really attractive place to find oxide ore, given its proximity to an existing mill.”

Jones sees “some really good things happening in Mongolia” in terms of mining legislation. He says there is optimism surrounding Turquoise Hill Resources’ (TSX: TRQ; NYSE: TRQ) Oyu Tolgoi (OT) underground copper–gold mine, and that the government has recognized “a number of issues” in its mineral policy that it will address with amendments to the country’s mining legislation.

“They are looking at finalizing the adjustments to the mining law and removing the moratorium on exploration licences. Last season was tough and not a lot of companies did much work, but moving forward I sense a lot of optimism amongst Mongolian insiders,” he adds. “Assuming that OT moves forward and the policy landscape is cleared up, we should see an improvement, and I’m optimistic that will come to pass.”

Altan Rio has traded within a 52- week window of 2¢ to 12¢, and closed at 7¢ per share at press time. The company has 52 million shares outstanding for a $3.7-million market capitalization.

Meanwhile, Altan Nevada is another speculative land play that encompasses 150 sq. km in Nevada. The company had been advancing a variety of copper and gold prospects across the state when punishing markets stymied exploration efforts.

Enter Teck Resources (TSX:TCK.B; NYSE: TCK) at the end of 2013. Altan Nevada announced an option agreement with a wholly owned subsidiary of Teck on its North Star gold project that could see the Canadian major earn a 70% interest in the property by spending $5 million on exploration.

With permitting already in place, drilling at North Star is to begin by mid-year. The companies will work together to define drill targets in the intervening period, with Altan Nevada pitching in some technical expertise and Teck acting as operator.

“They actually looked at the project a few years ago. It’s north of the known extent of the Carlin trend, but we believe it could be an extension. We have some interesting Carlin-flavour geochemical anomalies above what we interpret to be a separated fault,” Jones says, noting that the property sits 55km northwest of Barrick Gold’s (TSX:ABX; NYSE: ABX) Goldstrike gold mine in Elko County.

“Teck took a much closer look after we completed our trenching, which outlined a leakage anomaly with some very high-grade results,” he adds.

In 2010 Altan Nevada completed a deep-looking, induced-polarization geophysical survey that identified a large displacement structure, leaking Carlin-style geochemistry to surface and creating a 2 km long arsenic zone encompassing an 800-metre-long gold anomaly. Follow-up trenching revealed gold values at surface that ran up to 1.06 grams gold.

Altan Nevada has moved within a 52-week range of 2¢ and 17¢, and closed at 4¢ per share at press time. The company has 37 million shares outstanding for a $1.5-million market capitalization.

Australia’s Paydirt Regional Roundup – Altan Nevada secures major partner

3rd party media | Projects : North Star
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Teck America – a subsidiary of Teck Resources Ltd – has entered into a JV with Altan Nevada Minerals Ltd over the North Star gold project in Nevada. The deal is being hailed by TSX-listed junior Altan Nevada as proof of the compelling nature of the project.

Teck – one of North America’s largest diversified miners – can earn a 70% interest in North Star, situated on the Carlin Trend in northern Nevada, by spending $5 million in exploration on the project. The project is 55km north-north-west and along strike of the 50 moz Goldstrike mine, owned by Barrick Gold Corp.

Altan Nevada chief executive Evan Jones said Teck’s entry was a glowing endorsement of the project’s prospectivity.

“Altan Nevada has been working on this deal for a while,” Jones said. “It has been a very challenging period for junior companies and so we are delighted to bring in a company of Teck’s calibre.”

Altan Nevada has been exploring the project since 2011 with mapping and sampling campaigns followed up by an IP survey. In 2012 the company excavated two exploration trenches, encountering intercepts of 3m @ 1.06 g/t gold within wider gold-bearing zones of up to 63m wide. The trenches also returned anomalous arsenic, antimony and thallium readings, confirming the presence of Carlin-type alteration and mineralisation.

With permitting already approved by the Nevada Mines Department, Jones said drilling at North Star was expected to start towards the middle of 2014. The two companies will work together to finalise drill targets in the intervening period.
Jones said without such a deal, Altan Nevada would have been unable to undertake any drilling in 2014.

“In this climate there are three options for a junior; undertake a placement that dilutes existing shareholders massively; sit on the project or try to encourage a partner to come in, that is what we have done.

“In this market, it is difficult to see a junior company carrying out a large work programme. And to do it within striking distance of some the US’s largest deposits is also a bonus.”

Nevada’s gold production is dominated by industry heavyweights Barrick and Newmont Mining Corp but Jones believes there are plenty of opportunities for smaller players in the Carlin district.

“Nevada produces nearly as much gold annually as Australia from a much smaller area and at the same time Altan Rio considers it to be relatively under-explored. It is home of Barrick and Newmont although most majors predominantly focus on brownfield targets. We were able to stake seven of our eight projects some of which are adjacent to existing mines. That is difficult to do in Australia, I believe there is a real opportunity for good, grassroots exploration in Nevada.”

Altan Nevada has a further seven projects in the State and Jones said the company was trying to conjure up similar JV agreements for those. The company’s holdings in Nevada currently total more than 15,000ha. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada.

“Altan Nevada is not a one project company, a lot of potential remains in the portfolio. We have developed and permitted drill targets on at least five of our projects.

“We will wait to see how the market plays out in the first quarter but we are actively seeking partners for our other projects. If market conditions change we would like to step up generative work and mobilise a drill rig ourselves although not in the current environment.”

Under the terms of the North Star JV Teck can earn an initial 55% interest by spending $2.5 million over four years with a further $2.5 million securing it the full 70% interest. Teck is obligated to spend $400,000 by the end of 2014.

– Dominic Piper

Article courtesy of Australia’s Paydirt. If you would like to subscribe to Australia’s Paydirt please visit www.paydirt.com.au/subscriptions

Altan Nevada Announces Changes to Board of Directors

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January 23, 2014 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) announces the appointment of Brion Theriault and Aidan Nania to the board of directors (“the Board”) and the resignation of Kelly Cluer and Michael Doggett from the Board.

Mr. Nania is an Investment Banker and Managing Director of Element Capital Partners, an investment arm of Element Commodities Group, with interests in mining, oil, and gas. Mr. Nania was previously Head of Investment Banking in Australia for Casimir Capital L.P., a natural resources focused investment bank. Mr. Nania is also the President and CEO of Archean Star Resources Inc.

Mr. Theriault serves as Exploration Manager for Altan Nevada Minerals Limited. He is a Certified Professional Geologist and Qualified Person and has over 20 years of experience in precious metals exploration, development, and production including substantial experience in Nevada on the Carlin, Battle Mountain-Eureka, and Independence Trends. Mr. Theriault has consulted to successful juniors and served on the staffs of AngloGold and Newmont.  Notably, at Premier Gold Mines he managed the exploration office and designed and supervised their deep-drilling program to explore and delineate the Saddle gold deposit on the Carlin Trend; and at Newmont, he discovered an extension of the Lone Tree deposit and developed the stratigraphic model which led directly to the discovery of the Barrel deposit on the Carlin Trend.

The Company wishes to thank Mr. Cluer and Mr. Doggett for their contribution to the Company over the past years and wishes them well with future endeavors.

The Company also announces that it has granted to directors, officers, consultants and management of the Company, stock options (the “Options”) to purchase a total of 1,430,000 common shares at a price of $0.10 per common share. The Options are exercisable for a period of 5 years ending January 23st, 2019 and have been granted in accordance with the terms of the Company’s current stock option plan.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 15,002 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

 

For more information please contact:

Evan Jones

Altan Nevada Minerals Limited

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announce North Star Gold Project, Carlin Trend, Nevada Earn-in Option with Teck Resources Limited

company news | Projects : North Star
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December 16, 2013 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) is pleased to announce that it has entered into an agreement with a wholly owned subsidiary of Teck Resources Limited, Canada’s largest diversified resources company (“Teck”), to further explore the Company’s North Star Gold Project (the “Project”) situated on the Carlin Trend, northern Nevada , whereby Teck has the option to earn up to an undivided 70% interest in the North Star Property (the “Property”) and participate as joint venturers by incurring $5,000,000 in expenditure on the project (the “Agreement”).

Mr Evan Jones, President & CEO of Altan Nevada commented:

“We are delighted to be moving this project forward with a company of the caliber of Teck. This independently validates Altan Nevada’s view that North Star is a compelling target.

“As shareholders will be aware, the ability for junior explorers such as Altan Nevada to raise capital to fund a significant drilling program is somewhat limited in the current market environment. As such, by entering into this agreement, Altan Nevada will be able to participate in the drilling of a project that we otherwise may not have been in a position to evaluate for some time.

With permitting already in place, drilling at North Star is expected to commence towards the middle of 2014. Altan Nevada and Teck will work together to finalize drill targets in the intervening period.

North Star

North Star is an under-explored gold play situated at the northern end of the Carlin Trend, one of the world’s major gold districts with cumulative gold production to date of in excess of 80 million ounces. The project is situated approximately 55 km north-northwest and along strike from Barrick Gold Corporation’s Goldstrike mine, which has cumulative gold production to date of approximately 40 million ounces and current proven and probable reserves of approximately 12 million ounces.

24

Figure 1 – Gravity map of Carlin Trend, illustrating proximity of North Star to producing mines, including Goldstrike.

Altan Nevada’s interest in the Project, which covers an area of 3,152 acres, consists of 163 lode mining claims, 44 of which are owned by the Company, with the balance held under option from Genesis Gold Corp, a Utah Corporation (“Underlying Option Agreement”).

In 2011, a mapping and sampling campaign was undertaken for the purpose of verifying previous geochemistry profiling and identifying targets. A follow-up deep looking IP profile obtained in 2011 demonstrated the presence of a major structure associated with a chargeability feature at depth. Following the excavation of two exploratory trenches in late 2012, the Company announced encouraging assay results including gold values up to 1.06 g/t over 3 m within much broader gold bearing zones ranging from 18 m wide in Trench 3 up to 63 m wide in Trench 2. Within the gold bearing zones, geochemical anomalies of arsenic, antimony and thallium confirmed the presence of Carlin-type alteration and mineralization.

As such, North Star is considered by Altan Nevada to be a compelling target.

NS-Figure-2-e1387381350667

Figure 2 – North Star trench location on geology background showing soil arsenic anomaly and gold results from trench samples.

The Agreement

Pursuant to the Agreement (key terms of which are summarised in the following discussion), Teck can earn an undivided interest of up to 70% in North Star pursuant to two options.

Under the first option, Teck can earn a 55% interest by:

  • Incurring aggregate expenditure of $2.5 million on or in respect of the Project over four years, in accordance with the following schedule:

On or before                                      Cumulative Aggregate Expenditures

December 31, 2014                            $400,000

December 31, 2015                            $1,000,000

December 31, 2017                            $2,500,000

  • Making payments when due per the Underlying Option Agreement

It is noted that:

  • Teck is obligated to spend the amount of $400,000 by December 31, 2014
  • Unless Teck fulfills its obligations under the first option, it will have no ongoing interest in the Project

Upon satisfying its obligations under the first option, Teck is entitled to nominate its intention to exercise the second option, pursuant to which it can earn an additional 15% interest in the Project (for an aggregate 70% interest) by:

  • Incurring further expenditure of $2.5 million on or in respect of the Project (for aggregate expenditure of $5 million) by December 31, 2019
  • Making payments when due per the Underlying Option Agreement

If Teck nominates its intention to exercise the second option but fails to meet its obligations thereunder, its ongoing interest in the Project shall be 55%.

Pursuant to the Agreement, the North Star Joint Venture is deemed to be formed at the later of:

  • The date Teck fulfills its requirements under the first option
  • The date the second option terminates or expires unexercised, in the event it should do so (and providing Teck so nominates in the first instance)
  • The date Teck fulfills its requirements under the second option

From the date of formation of the Joint Venture, both Altan Nevada and Teck are responsible for costs in proportion to their respective pro-rata interests.

The Joint Venture agreement is to include provisions consistent with an agreement of this type, including as it relates to such matters as project management, production decision, calculation of costs and dilution.

It is noted that claims held under option from Genesis are the subject of a Net Smelter Royalty payable on the commencement of production.

Altan Nevada Exploration Manager, Brion Theriault, a Certified Professional Geologist (AIPG), is the “qualified person” under National Instrument 43-101 who has reviewed the technical disclosure in this news release and is responsible for the technical information contained in this release.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 15,002 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada.

On behalf of Altan Nevada Minerals Limited, 

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:

Altan Nevada Minerals Limited

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces Appointment of New CFO

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June 3rd, 2013 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) announces the appointment of Anthony Jackson as Chief Financial Officer of the Company. Mr. Jackson is a Principal of BridgeMark Financial Corp. (“BridgeMark”) and a founder of Jackson & Company Chartered Accountants, a company that assists private and public companies with their accounting and tax requirements. As part of an ongoing overhead reduction initiative, BridgeMark has been engaged to provide back office and management services. BridgeMark already provides accounting and financial services including administrative, compliance, reporting and finance functions to a number of TSX Venture listed mineral exploration businesses. Prior to his time at BridgeMark, Mr. Jackson spent a number of years at Ernst & Young LLP before working as a senior analyst at a boutique investment banking firm. During this time he provided services to a broad range of public and private companies in a variety of industries including the mining and minerals sector. Mr. Jackson earned a Bachelor of Business Administration degree from Simon Fraser University, and holds the professional designation of Chartered Accountant (CA), where he is a member of the BC and Canadian Institute of Chartered Accountants. Mr. Jackson has had extensive experience as a Director and CFO of numerous publicly traded corporations in the metals and mining industry. Mr. Jackson replaces Robert Scott as the Company’s Chief Financial Officer. The Company wishes to thank Mr. Scott, CFO of Corex Management Inc., for his contribution to the Company over the past years and wishes him well with future endeavors. About Altan Nevada Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 15,002 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada. On behalf of Altan Nevada Minerals Limited, “Evan Jones” Evan Jones, President & CEO For more information please contact: Altan Nevada Minerals Limited Tel: +1 604 495 8374 Email: [email protected] Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces up to 1.06 g/t Gold from Trenching at North Star Project, Carlin Trend, Nevada

company news | Projects : North Star
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February 27th, 2013 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) today announces encouraging assay results from a recently completed trenching program at the Company’s North Star Gold Project (100%) (“North Star”) located on the Carlin Trend, Nevada.

Highlights

  • Two exploratory trenches were excavated across a promising northerly trending structural corridor previously shown to be anomalous in gold, arsenic and antimony – key elements in Carlin-style gold deposits – to gain structural data in order to precisely aim drill holes at depth
  • Results from trench samples revealed gold values up to 1.06 g/t over 3 m within much broader gold bearing zones ranging from 18 m wide in Trench 3 up to 63 m wide in Trench 2
  • Within the gold bearing zones, geochemical associations of arsenic, antimony and thallium confirm the presence of Carlin-type alteration and mineralization
  • Coupled with IP Resistivity surveys previously completed by the Company, compelling drill targets are verified and enhanced

Mr. Kelly Cluer, Altan Nevada’s Director of Exploration, stated “These new results from trenching at North Star have revealed gold values up to six times higher than any previous sampling on the project. The strong geochemistry encountered justifies our belief that a Carlin-type system is present on the project. Drilling is required to test these upgraded targets, as a significant zone of gold mineralization may exist at relatively shallow depths.

North Star Trench Results

A total of 1,541 m of linear excavation was completed in two trenches by Envirotech Drilling of Winnemucca, Nevada. The program was focused on a prominent north-south trending structural corridor that was previously shown by the Company’s soil grid geochemical survey to be anomalous in gold, arsenic and antimony over a 2 km strike length. The trenches were successful in exposing bedrock for sampling and geological structures for mapping.

A Carlin-type gold system is present on the project, and focused within the “Au-As-Sb Corridor” as highlighted on the map below (Figure 1). The new trenching data verifies the presence of Carlin geochemical elements with a strong gold (798 ppb), arsenic (575 ppm), antimony (12.8 ppm) and thallium (0.45 ppm) association across a width of 63 m in the corridor of Trench 2. A similar geochemical system is indicated in Trench 3, approximately 600 m north of Trench 2, over a width of 18 m. The highest gold sample in the program of 3 m @ 1.06 g/t Au was obtained within this Trench 3 zone.

Gold mineralization is hosted within the Au-As-Sb Corridor along a contact zone between Paleozoic sedimentary rocks and Tertiary volcanic rocks, largely within the volcanic rocks where they exhibit strong argillic alteration, a geological context commonly found in productive districts along the Carlin Trend. This structural corridor is now shown to represent a large Carlin-type geochemical leakage anomaly. Such leakage anomalies overlie known gold deposits elsewhere along the Carlin Trend and are recognized as first-order guides to drill targeting.

North-Star-Trench-Loction-Map

Figure 1. North Star trench location on geology background showing soil arsenic anomaly and gold results from trench samples. Note excellent correlation of mapped structural zone and gold intersections, particularly in Trench 2.

North-Star-Cross-Section

Figure 2. A Dipole-Dipole IP Resistivity profile near Trench 2. Note excellent correlation of the Au-As-Sb Corridor leakage anomaly at (near) surface with IP Resistivity features persisting at depth. A conceptual drill hole is shown for reference.

The new trench results coupled with a Dipole-Dipole IP Resistivity profile over the Au-As-Sb Corridor completed in 2011 (see Figure 2 above), show compelling drill targets in the 400 to 600 m depth range.

Trench samples were surveyed by Altan Nevada geologists on a 3 m interval, with minor infill sampling on tighter intervals as dictated by local geology, and then cut, logged and marked. American Assay Labs performed all sample preparation and gold and trace element assays pertaining to the drill cutting samples highlighted in the text and table above. Gold was analyzed by fire assay; all other elements were analyzed using aqua regia digestion and ICPMS measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field and pulp duplicates.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 17,500 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada. To date, over US$5M has been spent acquiring and exploring highly prospective projects and identifying drill targets.

Competent Person Statement

Altan Nevada’s Exploration Director, J. Kelly Cluer, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the North Star Project.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:

Kelly Earle, Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374 x 220

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Northern Miner – Altan on the trail for Nevada’s next gold discovery

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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
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February 18-24, 2013 • VOL. 99, NO. 1 • SINCE 1915 • B Section by Matthew Keevil

“CARSON CITY, NEVADA — Driving along a broad stretch of freeway on the outskirts of Reno, it is obvious that Altan Nevada’s (ANE-V) director of exploration Kelly Cluer calls Nevada home. He spent the first 10 years of his career here before work with Centerra Gold (CG-T) took him to the far reaches of the Mongolian steppes. Now back at home in Carson City, Cluer is ready to take principles he rediscovered during a decade away, and apply them to his old stomping grounds…”

Kelly-Cluer-Altan-Nevada’s-director-of-exploration-inspects-a-sample-at-the-Radar-gold-silver-property-in-Nevada

Kelly Cluer, Altan Nevada’s director of exploration, inspects a sample at the Radar gold-silver property in Nevada

© 1915 – 2013 The Northern Miner. All Rights Reserved.

Altan Nevada Enters Into Mining Lease and Option to Purchase Agreement for Radar Project Claims

company news | Projects : Radar
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February 5th, 2013 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) announces that it has entered into a twenty year Mining Lease and Option to Purchase Agreement (the “Agreement”) with Avidian Gold US Inc. (“Avidian”), a private Nevada corporation actively engaged in the exploration of intrusive-related gold-copper deposits in Nevada, on 25 out of 204 unpatented lode mining claims covering approximately 11.3% of Altan Nevada’s Radar gold-silver project (the “Radar Claims”) located in Nye and Minerals Counties, Nevada.

Under the terms of the Agreement, dated January 1st, 2013 (the “Effective Date”), Altan Nevada will receive the following payments:

                                                                                                        

Date Amount
On the Effective Date $10,000
First anniversary of the Effective Date $15,000
Second anniversary of the Effective Date $20,000
Third anniversary of the Effective Date $25,000
Fourth and each subsequent anniversary of the Effective Date $30,000

The following work commitments must be met within the one year period following the Effective Date and each anniversary of the Effective Date (“Lease Year”):

$50,000 annually during each of the second through fifth Lease Years;

$100,000 annually during each of the sixth through tenth Lease Years; and

$200,000 annually during each of the remaining Lease Years

At any time during the term of the Agreement, the Radar Claims can be purchased, at the election of Avidian, for a one time payment of $500,000. The Company then becomes entitled to receive a royalty equal to 3% of the Net Smelter Returns (“NSR”) from the production of minerals on the Radar Claims, which can be reduced to a 1.5% NSR royalty by way of a one-time payment by Avidian of $1,500,000.

About Altan Nevada

Altan Nevada is an exploration company focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The company is currently exploring holdings in Nevada totaling more than 14,670 hectares. Projects include potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale epithermal volcanic-hosted precious metal systems. To date, over US$5M has been spent acquiring and exploring highly prospective projects and identifying targets.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones,

President & CEO

For more information please contact:

Kelly Earle

Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces First-pass Drill Results from Black Top and Identifies New Target Zone

company news | Projects : Black Top
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August 22nd, 2012 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) today announces encouraging geological results from the reconnaissance drill program at the Company’s Black Top gold project (100%) (“Black Top”) located in Nye County, Nevada.

Highlights

  • 8 wide spaced reverse circulation (RC) drill holes for 3,177.5 m were completed, designed to focus future efforts in the most highly prospective portions of the large 36.6 km2 project
  • 6 of the 8 holes encountered anomalous levels of gold and pathfinder elements including arsenic, antimony, mercury, tellurium and thallium, substantiating the presence of a large epithermal gold system
  • Down-hole geochemical results confirm the low-sulfidation nature of the gold system, similar geochemically to Barrick Gold’s Round Mountain deposit
  • Down-hole multi-element geochemical data have now been modeled and point to a possible source region for gold fluids in a large concealed and untested resistivity anomaly of the Rachel Grade zone
  • Targeted follow-up drilling to identify an ore body is planned

Mr. Kelly Cluer, Altan Nevada’s Director of Exploration, stated “For a modest first round program of wide-spaced drilling, the presence of low level gold and highly elevated arsenic and mercury values over a large area at Black Top are very encouraging. A large epithermal gold system is present at Black Top; we just need to find the ore body. With these new reconnaissance drill results in hand we can see geological and geochemical vectors that point directly toward the large Rachel Grade resistivity anomaly which can now be modeled as a potential source region for gold-bearing fluids. The large size of this feature warrants 4 to 5 first-pass exploratory holes.”

Black Top Drill Results

A total of 3,177.5 m of RC drilling was completed in 8 holes by Envirotech Drilling of Winnemucca, Nevada. Holes ranged in depth from 262.1 to 609.6 meters. All holes were completed to target depth.

An epithermal gold system is present over a broad area with the highest value intersected being 0.109 g/t Au over 6.1 m in BT-006. Anomalous gold was encountered in 6 of 8 holes (see Table 1). Importantly, all anomalous gold is associated with a robust epithermal trace element suite present in all 8 holes that includes arsenic, antimony, bismuth, mercury, tellurium and thallium.

combined

Figure 1. Black Top drill hole location map (with Nevada location map inset) showing three main target areas tested and the concealed resistivity target at Rachel Grade. Note line of section for Figure 2.

Elevated arsenic values were present in all 8 holes, commonly exceeding 500 ppm with the highest value being 919 ppm over 6.1 m in BT-006.  Additionally in hole BT-001 a cumulative 91.4 m at 324.2 ppm arsenic was intersected (using a 50 ppm As lower cut-off), which is considered to be robust arsenic mineralization in the context of an epithermal gold system.

A very long run of mercury mineralization (170.7 m @ 1.83 ppm Hg) with values up to 3.71 ppm over 6.1 m was intersected in hole BT-003, largely confined to the rhyolite volcanic package, and suggests good formational characteristics for the development of an ore body.

Jasperoids were encountered at the Tertiary volcanic / Paleozoic sedimentary rock contact zone (see Figure 2) where receptive “silty” carbonate units contain high thallium, up to 13 ppm over 6.1 m in BT-007, and highly elevated antimony, up to 360 ppm over 1.5 m in BT-002.

Only trace levels of silver were reported which, in conjunction with the low-sulfidation nature of the system, is considered positive, being similar geochemically to the 10 million+ Au ounce Round Mountain Gold Mine some 140 kilometers along strike to the northwest.

The elevated gold, arsenic, mercury, bismuth, antimony, tellurium and thallium values are typical of epithermal gold geochemistry and the extensive nature of geochemical anomalies confirms the presence of a large-scale system.

At Rachel Grade the Phase I drill program was focused on IP chargeability features. Going forward, the Company will re-double its efforts on the high resistivity portion of Rachel Grade geophysical target, where an intriguing anomaly has been imaged at depth. The Rachel Grade resistivity feature is modeled as a potential source region for gold-bearing fluids, occurring immediately down-plunge of the drill intersected mineralization of the Middle Domain zone (see Figure 1). This IP resistivity target has not yet been tested and will require 4 to 5 holes in a Phase II drill campaign. The target here is large, and its location within the overall mineral system is compelling (see Figure 2).

ANE_Black-Top_2012-Drill-Table

Table 1. Summary results for Phase I Black Top drill program

BT_cartoon_section_X

Figure 2. Conceptual section looking northeast showing modeled results of drilling and geophysical surveys, indicating large target associated with the Rachel Grade Resistivity high feature. Tv = Tertiary volcanic rocks, Pz = Paleozoic sedimentary rocks; the unconformity between these two units is considered a primary epithermal fluid pathway.

Drill samples were logged and marked by Altan Nevada geologists and submitted to American Assay Labs (Sparks, Nevada) for sample preparation and assay work. Some original five-foot (1.5 m) drill sample intervals were used for assay, while all other samples were composited from the original five-foot interval into a twenty-foot (6.1 m) interval by the lab for assay. American Assay Labs performed all gold and trace element assays pertaining to the drill cutting samples highlighted in the text and table above. Gold was analyzed by fire assay; all other elements were analyzed using aqua regia digestion and ICPMS measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field and pulp duplicates.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 17,500 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada. To date, over US$5M has been spent acquiring and exploring highly prospective projects and identifying drill targets.

Competent Person Statement

Altan Nevada’s Exploration Director, J. Kelly Cluer, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Black Top Project.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:

Kelly Earle, Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374 x 220

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Announces up to 6 g/t Au from Grab Sampling at Venus and up to 26 g/t Au Over 0.6 m from Trenching at Montelle

company news | Projects : Black Top, Montelle, Venus
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July 31st, 2012 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) is pleased to announce results from a recently completed rock sampling campaign at the Venus copper-gold project (“Venus”) and from the inaugural trenching program at the Montelle gold project (“Montelle”), both of which are located in the Yerington District of western Nevada and are 100%-owned. Targets at both Venus and Montelle have been upgraded, with field work to continue throughout the summer. The Company is also pleased to announce that the inaugural drilling program at the Company’s 100%-owned Black Top gold project (“Black Top”) has been completed, with results expected in coming weeks.

  Altan Nevada Venus

Altan Nevada’s projects in Nevada with Venus, Montelle & Black Top highlighted

 Highlights

  • New zone of copper mineralization discovered at Venus with grab sample assay results of up to 6 g/t Au and 0.86% Cu in a large altered granite dike swarm, considered a prime target for initial drilling, being adjacent to Nevada Copper’s Pumpkin Hollow project.
  • Trench sampling at Montelle assayed up to 26 g/t Au and 9.7 g/t Ag in a 0.6 m wide interval in trench T-12, confirming the project’s potential for high grade gold mineralization.

VENUS PROJECT – ROCK SAMPLING RESULTS

18 rock samples were recently collected over the Venus project in an area of known gold-telluride veins along the northern border, and to the south in the central part of the project where a new zone of copper-stained granite dikes was discovered (Figure 1). Assays confirmed previous high gold, copper and tellurium results, and highlighted silver values up to 193 g/t along the northern border from grab samples. Moreover, a newly discovered altered granite dike zone was assayed with high copper (up to 0.86%) and gold (up to 6 g/t) in grab samples. These results confirm that robust mineralization extends southward from the rapidly developing Pumpkin Hollow deposits, rendering Altan Nevada’s ground a prime target for an initial drilling program.

Venus-Project

Figure 1. Venus project in relation to Pumpkin Hollow, showing recent high-grade grab sampling results up to 6.04 g/t Au and location of Yerington-stage dikes and Au-Te quartz veins

About the Venus Project

The Venus project consists of 111 unpatented mining claims, covering an area of 876 hectares. The project is adjacent to the southern boundary of Nevada Copper’s cluster of Cu-Fe-Ag-Au skarn deposits known as Pumpkin Hollow, for which proven and probable reserves include 4.29 billion pounds of contained copper and approximately 1 million ounces of gold. Since 2007, Altan Nevada has completed rock chip and soil sampling, mapping and ground geophysical surveys on the property, exploring for copper-iron (Au, Ag) skarns and copper porphyry intrusion targets. The project is fully permitted for drilling and the recent positive rock sampling results have further defined drill targets.

 

MONTELLE PROJECT – TRENCHING RESULTS

All assay data from the trenching program completed at Montelle earlier this year has now been received. Approximately 732 linear meters were excavated and 237 channel samples were collected and assayed over two main target zones. Complexly faulted zones with strong alteration, favorable geochemistry and locally elevated gold contents were revealed by trenching. Sericitic alteration and mesothermal-style veining and mineral associations were also noted, all of which are indicative of orogenic-style precious metal mineralization. Mineral grades of up to 26 g/t Au and 9.7 g/t Ag were received from a 0.6 m wide interval in trench T-12, within a 7.5 m wide anomalous zone (Au-Ag-Cu-Bi assemblage) (Figure 2).

These initial results from a modest trenching program are quite encouraging, confirming the source of previously announced high grade gold values from grab samples (at surface). With the feature having an apparent strike length of approximately 1 km and with local gold grades exceeding 20 g/t, the Company believes that a geophysics program aimed at identifying additional mineralization in coalescing structural zones is warranted.

Montelle_oblique_aerial_2012Trench_Au_6in

Figure 2. Montelle project showing recent trenching results with values up to 26 g/t Au and 9.7 g/t Ag over a 0.6 m width within a 2 km long alteration zone

For a complete table of Montelle trenching results, please visit the Company’s website at www.altnev.com/projects/montelle/.

About the Montelle Project

Montelle is a reconnaissance-generated project covered by 60 unpatented mining claims encompassing 490 hectares with high grade gold bearing quartz veins and shear zones in a Yerington stage granitoid. The high grade veins have been largely overlooked in the modern era of Nevada exploration. The project is 100%-owned by the Company.

Rock and trench samples were collected, recorded and marked by Altan Nevada geologists and submitted to American Assay Labs (Sparks, Nevada) for sample preparation and assay work. American Assay Labs performed all silver, gold and copper assays pertaining to the samples highlighted in the text above. Gold was analyzed by fire assay. Silver and other elements were analyzed using aqua regia digestion and ICPMS measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field and pulp duplicates.

About Altan Nevada

Altan Nevada is a grassroots exploration company focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company’s holdings in Nevada currently total more than 17,500 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada. To date, over US$4.8M has been spent acquiring and exploring highly prospective projects and identifying targets.

 

Competent Person Statement

Altan Nevada’s Exploration Director, J. Kelly Cluer, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Venus, Montelle and Black Top Projects.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:

Kelly Earle, Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374 x 220

Email: [email protected]

Web: www.altnev.com

Nevada: The Next American Gold Rush

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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
READING THIS PAGE IS AT YOUR OWN RISK
For further information on any of the articles, please contact the authors directly.

nevada-infographic-ane-version

Financial Press – Exploration Insight With Kelly Cluer: An Interview with Altan Nevada’s Director of Exploration

3rd party media | Projects : Black Top, Montelle, North Star, Radar, Yellow Cone
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
READING THIS PAGE IS AT YOUR OWN RISK
For further information on any of the articles, please contact the authors directly.

Financial Press

By Nathan Pearson

May 31, 2012

Nevada State, home to three quarters of the Gold production in the US is the 4th largest gold producing entity in the world rivalled only by the countries of South Africa, China and Australia.  Nevada has produced 200 million ounces of gold since 1981 and a further 81 million ounces are on reserve alone.  Investors and miners alike will continue to look to Nevada to satisfy a significant portion of the world’s appetite for gold.

With investors continuing their search for companies in the area with a high prospect for a million ounce plus deposit discovery, the key to realization lies in the acquisition of world class prospects managed by veteran management teams.  Altan Nevada’s management team has a proven track record of success and the ability and funding to execute discoveries in a timely, efficient manner. The company is currently drilling world class projects with the hopes of releasing an investor palpable resource calculation. Drills continue to turn, and a steady stream of company news and milestones will be released.

Work programs are well underway on three of the company’s eight prospects, with subsequent news planned for the summer and fall months. Assays are scheduled to be released to the market later this year concerning Black Top, while Montelle’s trenching results are due back in the near term and further exploration is underway at Yellow Cone. The 3000 metre drill program about to begin at Black Top is of significant attention. The Black Top gold project is on the same regional structure that hosts the 20 Moz Round Mountain epithermal gold mammoth. Operated jointly by Kinross and Barrick, Round Mountain’s regional structure is more than an attractive piece of land to share.

Black_Top_NWstructures_09jun2011_IMG_04412

Northwest trending structures visible on Altan Nevada’s Black Top project.

With more than 40 years actuality discovering gold deposits in Nevada, Altan Nevada’s exploration team is led by Director of Exploration Kelly Cluer. In a recent May 26th interview with Financial Press (FP), Kelly Cluer (KC) shared his insight on the benefits of operating a budding gold exploration company in one of the most prolific gold regions in the world.

FP: Why is Nevada one of the best jurisdictions in the world for junior miners and miners alike?

KC: Nevada is a friendly state for exploration and mining, with a long history of mineral production, and continuing large new discoveries. It is very safe, nearly the entire state is accessible by truck, and you are never very far from roads, food or power. The overall value of mineral and energy production in Nevada in 2010 was $7.7 billion, the highest ranked state in the US. Mining employs a lot of people in Nevada and the government is fully aware of the economic benefits it brings to the state.

Mining has also been a part of Nevada’s history since the 1800s, and with good reason: Nevada is extremely rich in gold, silver, copper and molybdenum. There were 23 active mines in 2010 producing these precious and base metals.

FP: Why is there so much Gold in Nevada? Is there a specific geological anomaly as to why so much gold has been produced in the state?

KC: Nevada’s Basin and Range province with its vast gold endowment really is a geological anomaly. Nevada’s total gold production is approximately 200 million ounces, 85% of which has been produced during the current boom from 1981 to present.

Geologically, extremely favourable conditions throughout the last 750 million years have created the mineralogical wealth in Nevada. It began when an ocean basin formed over what is now Nevada about 750 million years ago when Antarctica and Australia drifted away from North America. This ocean basin filled with siltstones, limestones and other favourable host rocks. Then around 350 million years ago island arcs formed to the west and thick layers of deep water sediments were thrust over the shallower sands and limestones. These lower plate siltstones and limestones are chemically favourable for gold precipitation and the contact between the upper and lower plates is an important boundary when exploring for gold.

Around 200 million years ago the ocean floor started subducting beneath the sedimentary rocks that are now Nevada, which produced volcanoes, granitic rocks, and large-scale structures, that would eventually act as conduits for ore bearing fluids. Finally around 40 million years ago, the western US started to pull apart, stretching and thinning, which caused deep cracks in the crust. These deep cracks acted as conduits for volcanic and intrusive rocks and moved fluids through the favourable sedimentary rocks. Pressure, temperature and chemical conditions were right and gold precipitated in the sedimentary host rocks. These deep cracks and aligned intrusions are now the major gold trends in Nevada such as the Carlin and Cortez.

Even though 200 million ounces have already been produced, Nevada still had 81.0 million ounces of gold reserves reported in 2010. So there is still a great deal of gold left to mine in Nevada and even more left to discover.

FP: In terms of MGMT playing a key role in advancing any junior resource company, are there any successes MGMT has been involved with in Nevada to date? If so, what are those successes and how do they pertain to Altan Nevada?

KC: Yes, I was involved with the discovery of the Ren deposit on the Carlin trend when I was with Uranerz USA which subsequently became Cameco Gold and then Centerra Gold. Ren is considered to be a deep extension to Barrick’s Goldstrike Mine and it currently contains a 2.2 Moz gold resource.

Altan Nevada’s North Star project on the Carlin trend is not far from the Ren deposit, so we know the geology quite well in that area. We definitely have experience in Nevada, with our geologists collectively having 40+ years of experience working in the state. It’s this past experience that has led to Altan Nevada picking up some key projects, like Black Top, where we are looking for a Round Mountain-type analog and Radar, which is in the Paradise Peak gold-silver district.

FP: Altan Nevada recently announced a 3000 meter drill program at the Black Top Gold project, a staking program completed at Yellow Cone and a trenching program announced at the Montelle prospect. Is there a timetable of events the investment community will want to pay attention to in the coming weeks and months?

KC: Drilling should commence at the Black Top project within the next several weeks and will go into the summer, with assays later in the year. Trenching results from the Montelle project should be expected shortly and we will continue our work at the Yellow Cone prospect. It will be a busy field season for Altan Nevada and we should have news throughout the summer and into the fall.

Follow the company’s progress at: http://www.altnev.com.

Financial Press – Altan Nevada Begins First-Pass Drill Program Along Trend from World Class Deposit at Black Top

3rd party media | Projects : Black Top, Montelle, North Star, Radar, Yellow Cone
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
READING THIS PAGE IS AT YOUR OWN RISK
For further information on any of the articles, please contact the authors directly.

Financial Press

By Nathan Pearson

Canada-based Altan Nevada Minerals Limited (TSX Venture: ANE) has announced the staking of a new project and details of upcoming work programs on two of its projects in resource abundant Nevada. The company’s exploration portfolio now totals more than 17,400 hectares (43,000 acres), making them a top 20 claim holder in the state.

On April 10th 2012, the company announced 3,000 meters of reverse circulation drilling to commence in early May, 2012, at the company’s Black Top gold project located in Nye County, Nevada. The Black Top gold project is on the same regional structure that hosts the Round Mountain gold mine, a 20 Moz epithermal gold giant operated jointly by Kinross and Barrick, located approximately 140km northwest of Black Top. Black Top is dominated by Miocene volcanic geology, which is a similar in age and geology to that of Round Mountain and is anomalous in gold (from 0.1 g/t up to 3 g/t), silver and epithermal pathfinder elements (As, Hg, S, Tl, Sb), also typical of epithermal-type gold systems.

The substantial size and un-explored nature of the Black Top gold system make a compelling exploration play.

For a map of the area, see figure 1.1 below.

Nevada-with-Black-Top-and-YC-highlighted1

Figure 1.1(Source: Altan Nevada Website) Black Top in the Round Mountain structural corridor.

Getting Down to Business: 3000 Meter RC Drilling Program: The Targets

First pass drilling will focus on three target areas including Oswald East, Middle Domain and Rachel Grade (see figure 1.2 below). These large target areas have not previously been drill tested, being recently identified through innovative and systematic exploration by Altan Nevada.

Oswald East – Recent soil results highlight a robust Au-As-Sb anomaly 1 km in diameter that coincides with a strong near surface IP anomaly. IP surveys show a very intriguing structural setting and geochemistry confirms alteration features typical of epithermal gold systems. Because the zone is shallow, it is a first priority target.

Middle Domain – Rock chip and soil geochemical sampling delineate a well-developed Au-As-S-Tl anomaly, 1+ km long, in an area with numerous shallow prospect shafts and pits, locally with high mercury values. This anomaly coincides with strong IP chargeability features at depth. The zone is relatively shallow and represents a solid target with high tonnage potential.

Rachel Grade – The large gradient array IP survey also identified a large (1.5 km long), high-amplitude chargeability feature at depth in the eastern sector of the project, which may be a feeder zone to the widespread gold system. The Rachel Grade target has the potential to be very large in size and is only shallowly covered on its western edge, making it a high priority target with relatively low drilling cost.

Drill-target-location-map-final2

Figure 1.2 (Source: Altan Nevada Website)

YELLOW CONE

In other news, Altan Nevada’s ongoing generative program continues to yield results. The company recently announced the staking of anew project – Yellow Cone. The Yellow Cone project is a large volcanic hosted copper-gold-silver system that has seen very little modern-era exploration and has the potential to deliver big results. It consists of approximately 503 newly located mining claims, 100% owned by the company, and covers an area of approximately 10,000 acres.

Yellow Cone was identified through regional geophysics as a structurally-controlled magnetic low astride a regional gravity high. An extensive quartz vein system was historically developed through a number of shafts and produced several thousand ounces of gold early in the 20th century. Recent rock sampling showed anomalies ranging from 1 g/t Au to 26 g/t Au, 10 g/t Ag to 880 g/t Ag, and 0.1% Cu to +5% Cu. Reconnaissance-scale IP geophysical surveys have yielded very promising results, and additional planned work programs for 2012 are expected to deliver drill targets before year end.

MONTELLE TRENCHING PROGRAM

The company has also commenced trenching at Montelle. The program is designed to expose high-grade gold-controlling structures. The plan is for approximately eight trenches for an aggregate 670 m over a strike length of 1.2 km. The highest priority trenches are being cut across zones that have yielded numerous assays greater than 5 g/t Au (up 23.7 g/t Au) from surface grab samples of quartz veins and quartz vein gouge during recent reconnaissance efforts by Altan Nevada.

Montelle is a reconnaissance-generated project with high grade copper-gold bearing quartz veins and shear zones in a Yerington stage granitoid that has been largely overlooked in the modern era of Nevada exploration. The information obtained from the trenching and sampling program is designed to deliver a number of new drill targets.

A FIRM GRIP ON MANAGEMENT, AN ALL STAR CAST IN NEVADA

Altan Nevada Chairman and Director, John L.C. Jones has been a prominent player in the international mining sector for forty years, accumulating a long list of successes including a guiding involvement in four companies leading to the discovery of four deposits and the development of eight mines.

Mr. Jones states “It is our firm belief that future large gold deposits in Nevada will be delivered by seamless exploration-finance-management teams like Altan Nevada’s that can quickly identify and evaluate concealed metal systems using the Company’s unique blend of leading edge technology and Nevada-based discovery experience, and that important new discoveries will be achieved by explorers like us that are driven to succeed.”

Key to that success is Kelly Cluer, Altan Nevada’s Director of Exploration. Mr. Cluer played a significant role as Senior Geologist of Uranerz and Cameco Gold in the discovery of the Ren Deposit (1.6 Moz Au at a grade of 10.29 g/t) located on the Carlin Trend (just 60km from Altan’s North Star project) and has been successfully exploring in Nevada for more than 20 years.

Altan Nevada boasts a veteran management team that has a track record of success in the mining industry, and discovery credit in Nevada. With a market cap of only $7.7 million and a highly prospective portfolio developed through $4.8M in exploration expenditure over the past 5 years, Altan Nevada is a company investors will want to keep on their radar as projects advance through additional aggressive exploration programs in 2012.

Follow the company’s progress at http://www.altnev.com

Altan Nevada Begins First-pass Drill Program at Black Top and Announces New Project, Yellow Cone

company news | Projects : Black Top, Yellow Cone
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Location-Map1-773x1024

April 10th, 2012 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) is pleased to report the initiation of the first ever drilling campaign, approximately 3,000 m of reverse circulation drilling scheduled to begin in early May, at the Company’s Black Top gold project (100%) (“Black Top”), located in Nye County, Nevada. The Company is also pleased to announce the staking of the Yellow Cone copper-gold-silver project (100%) (“Yellow Cone”), also located in Nye County.

BLACK TOP

  • · Black Top is dominated by Miocene volcanic geology that is very similar to Round Mountain, a 20 Moz gold giant operated jointly by Kinross and Barrick, located some 140 km to the north-west
  • · The alteration is anomalous in gold (from 0.1 g/t up to 3 g/t), silver and epithermal pathfinder elements (As, Hg, S, Tl, Sb) typical of Round Mountain-type systems
  • · The main targets are large and have never been drilled

Drill Targets

Three main targets for Phase I drilling have been identified based on geophysics and multi-element soil anomalies (Figure 1).

Oswald East – Recent soil results highlight a near-surface, robust Au-As-Sb anomaly, 1 km in diameter, that coincides with a strong gradient array IP anomaly. Follow-up detailed IP shows very interesting structural and possible alteration features typical of epithermal gold systems. Because the zone is shallow, it is a first priority target.

Middle Domain – Rock chip and soil geochemical sampling delineate a well-developed Au-As-S-Tl anomaly, 1+ km long, in an area with numerous shallow prospect shafts and pits, locally with high mercury values. This anomaly coincides with strong IP chargeability features at depth. The zone is relatively shallow and represents a solid target with high tonnage potential.

Rachel Grade – The large gradient array IP survey also identified a large (1.5 km long), high-amplitude chargeability feature at depth in the eastern sector of the project which may be a feeder zone to the widespread gold system. The Rachel Grade target has the potential to be very large in size and is only shallowly covered on its western edge, making it a relatively low cost drill target.

Detailed cross-sections and further geological information for Black Top can be found on the Company’s website at www.altnev.com/projects/blacktop/.

Drill-target-location-map-final-1024x768

Figure 1. Soil and rock geochemical anomalies showing current drill targets. IP chargeability section inset at Rachel Grade target to scale, showing planned drill holes.

Altan Nevada generated the Black Top project in 2009 by combining satellite image interpretation with regional geophysics and targeted rock sampling. It consists of 471 lode mining claims covering 9,430 acres that are 100% owned by the Company. The metal system meets the Company’s criteria for large size and robust alteration zonation. Rock and soil samples over a 3 x 7 km area show anomalous values ranging from 0.1 g/t Au to 3 g/t Au, 0.5 ppm Ag to 10.3 ppm Ag, 100 ppm As to 2,500+ ppm As and 1 ppm Hg to >1,000 ppm Hg.

Mr. John Jones, Altan Nevada’s Chairman, has said of the Black Top project: “It is our firm belief that future large gold deposits in Nevada will be delivered by seamless exploration-finance-management teams like Altan Nevada’s that can quickly identify and evaluate concealed metal systems using the Company’s unique blend of leading edge technology and Nevada-based discovery experience, and that important new discoveries will be achieved by explorers like us that are driven to succeed.”

YELLOW CONE PROJECT

Altan Nevada is also pleased to announce the staking of a new project. The Yellow Cone project is a large volcanic hosted copper-gold-silver system that has seen very little modern-era exploration. It consists of approximately 500 newly located mining claims, 100% owned by the Company, and covers an area of approximately 10,000 acres.

Yellow Cone was identified through regional geophysics as a structurally-controlled magnetic low astride a regional gravity high. An extensive quartz vein system was historically developed through a number of shafts and produced several thousand ounces of gold early in the 20th century. Recent rock sampling showed anomalies ranging from 1 g/t Au to 26 g/t Au, 10 g/t Ag to 880 g/t Ag, and 0.1% Cu to +5% Cu.

Preliminary deep-looking IP-Resistivity profiles have produced very interesting results, and the company is quite excited to further the exploration program in the 2012 season with additional geophysical and geochemical surveys. For more information on Yellow Cone please visit the Company’s website at www.altnev.com/projects/yellowcone/.

About Altan Nevada

Altan Nevada is a leading exploration innovator focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company is actively exploring holdings in Nevada totaling more than 43,000 acres. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada. To date, over US$4.8M has been spent acquiring and exploring highly prospective projects and identifying targets.

Competent Person Statement

Altan Nevada’s Exploration Director, J. Kelly Cluer, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Black Top and Yellow Cone projects.

All sample preparation and assay work was completed by American Assay Labs and Inspectorate, both located in Sparks, Nevada. Gold was analyzed by fire assay. Silver and other elements were analyzed using aqua regia digestion and ICPMS measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field and pulp duplicates.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones, President & CEO

For more information please contact:

Kelly Earle, Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374 x 220

Email: [email protected]

Web: www.altnev.com

Altan Nevada Provides Drill Results for Radar Project and Announces Trenching Program at Montelle Project

company news | Projects : Montelle, Radar
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March, 30th, 2012 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or the “Company”) is pleased to report that the current drilling program has been completed at the Radar gold-silver project (100%) (“Radar”), located in Nye and Mineral Counties, Nevada, and that all assays have been received. The Company also reports initiation of a trenching program at the Montelle gold project (100%) (“Montelle”) in Lyon County, Nevada.

Nevada-Map3

RADAR DRILL RESULTS

The Phase I Drill Program at Radar consisted of four holes for 1,949 m of diamond drilling. The four drill holes tested geophysical anomalies in a relatively small area (1 x 1.5 km) near the center of the project. All precious metal and major pathfinder element assay results have been received.

Precious metal values were lower than anticipated, but suggestively anomalous in holes RA-003 and RA-004 (see table below).

Table 1. Summary of Radar Phase I exploration drilling gold and silver results

Table-1

Pyrite mineralization elevated in precious metals and pathfinder elements such as arsenic, copper, and molybdenum was encountered in RA-003 below 261.82 m. Pyrite in this geochemically anomalous zone occurs in concentrations that are frequently greater than 5% to as much as 15%. Most of the sulfide is disseminated but also occurs in wispy concentrations, thin veinlets, and hydrothermal breccias. The elevated precious metal and pathfinder elements (50-60 ppb Au, 4 ppm Ag, 80 ppm As, 100+ ppm Cu, and 30-70 ppm Mo) intersected at the bottom of RA-003 are strongly indicative of proximity to precious metal concentrations in high sulfidation epithermal systems.

Figure-1

Figure 1.  The major drill targets and drill hole locations on the Radar project, based on geochemistry, geophysics and geology

Altan Nevada’s Exploration Director, J. K. Cluer has observed “The fact that we have intersected elevated gold, silver and associated elements at depth is encouraging as we started this hole in essentially barren volcanic – targeting only geophysical features at depth. This is a positive upgrade to the overall target concept.  We remain bullish on Radar’s ability to produce commercial intersections with further targeted drilling.”

Drill samples were logged and marked by Altan Nevada geologists and submitted to American Assay Labs (Sparks, Nevada) for core cutting, sample preparation and assay work. American Assay Labs performed all silver and gold assays pertaining to the drill-core samples highlighted in the text and table above. Gold was analyzed by fire assay. Silver and other elements were analyzed using aqua regia digestion and ICPMS measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field and pulp duplicates.

Radar Project – Further Evaluation

The geophysical targets that have been upgraded by drill-indicated geochemical halos need to be pursued with further drilling. Additionally, there are at least five prospective targets that were not tested in this initial drill campaign.  These targets comprise geochemical anomalies associated with low level Au + Ag along the eastern side of the project and structural/geochemical targets north of the Phase I drilling array (see map above). Targeted geophysics may be used to further refine any future drilling plans. Future drilling at Radar will be prioritized with respect to the Company’s other seven projects in Nevada, two of which are scheduled for drilling in 2012.

 

MONTELLE TRENCHING PROGRAM

A trenching program designed to expose high grade gold-controlling structures was initiated in early March. The plan is for approximately eight trenches for an aggregate 670 m over a strike length of 1.2 km to be completed by end of March. The highest priority trenches are being cut across zones that have yielded numerous assays greater than 5 g/t Au (up 23.7 g/t Au) from surface grab samples of quartz veins and quartz vein gouge during recent reconnaissance efforts by Altan Nevada.

The information obtained from the trenching and sampling program is designed to deliver a number of new drill targets.

About the Montelle Project

Montelle is a reconnaissance-generated project with high grade copper-gold bearing quartz veins and shear zones in a Yerington stage granitoid that has been largely overlooked in the modern era of Nevada exploration. The project is 100% owned by the Company.

Figure-2

Figure 4.  Oblique photo of the Montelle project area, looking south, showing projection of main alteration zone and bounding shear structures with selected (1+ g/t Au) samples and planned trenches (not all are visible as they trend off the photo to right). Note old underground workings visible in lower right

About Altan Nevada

Altan Nevada is a grassroots exploration company focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company is currently exploring holdings in Nevada totaling more than 15,710 hectares. Projects include two potential district-scale extensions to the north Carlin Gold Trend, three Yerington District copper-gold targets and three large-scale gold alteration systems along the Walker Lane lineament in central Nevada. To date, over US$4.8M has been spent acquiring and exploring highly prospective projects and identifying targets.

Competent Person Statement

Altan Nevada’s Exploration Director, J. Kelly Cluer, a Certified Professional Geologist (AIPG) and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Radar and Montelle Project.

On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones,

President & CEO

For more information please contact:

Kelly Earle

Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374 x 220

Email: [email protected]

Web: www.altnev.com

Resource World – Altan Rio and Altan Nevada target Mongolia and Nevada

3rd party media | Projects : Black Top, Radar
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
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Resource World – MARCH 2012

by Jennifer S. Getsinger, PhD, PGeo

The company, Altan Rio, established in 2006, explored for precious metal and copper in Mongolia and gold in Nevada. Working with excellent geological and geophysical research, so far, they have identified several promising projects in both places. According to President and CEO, Evan Jones, interviewed by Resource World in Altan’s Vancouver office, Altan recently went public, joining with CPCs (capital pool companies) to form two new entities, Altan Rio Minerals Ltd. [AMO-TSXV] and Altan Nevada Minerals Ltd. [ANE-TSXV].

The two Altan companies share top-level management and technical teams, including a well-known Australian mining family, Evan C.C. Jones and his father, John L.C. Jones, Chairman, with a successful history that includes four discoveries and eight mines developed. John L.C. Jones was formerly chairman of Troy Resources during development from a junior exploration company to a gold producer. Altan Rio’s Director of Exploration, J. Kelly Cluer, helped discover Centerra’s Boroo Gold Mine in northern Mongolia before guiding Altan Rio to the nearby prospect of Khavchuu.

In Mongolian, the word Altan means golden. Three golden prospects from east to west are the Onon, the Khavchuu, and the Chandman-Yol projects. The Onon Project shows promise with geochemical anomalies in an epithermal gold-arsenic-silver dominated system in jasperoidal sedimentary rocks, with associated antimony, mercury, copper, tellurium, and thallium. However, results from Altan Rio’s modest 2011 drill program are, so far, unimpressive, so Onon has been placed on the back burner.

Altan Rio’s Director of Exploration, Kelly Cluer, worked at the Boroo Mine of Centerra in a well-known area of northern Mongolia, and now offers invaluable expertise to the nearby Khavchuu Project, believed to be a similar type of lode gold (+arsenic) deposit. Lower Paleozoic metasedimentary rocks host quartz-sericite-sulphides, mainly pyrite and arsenopyrite mineralization and visible gold. An exploration program is planned for 2012 that includes geological, geochemical, and geophysical studies.

The most exciting area in Altan Rio’s Mongolian holdings is the Chandman-Yol property, encompassing an entire mountain range, virtually unexplored by modern methods. Chandman means buried treasure, and Altan Rio has exclusive license to look for it in 1,402 km2 (346,441 acres). They have identified seven significant zones of interest along the 50-km range. Still in early days of exploration, what is known as the KY intrusive system (granodiorite) porphyry, copper-gold target, in known geochemical anomalies is at least as big as Utah’s Bingham pit, some 4 km across. North of the main KY porphyry intrusion, geological and geophysical surveys (especially IP) show promising prospects such as the Ovoot chargeability anomaly; an epizonal pluton with copper-gold mineralization; and the Takhilt copper-gold skarns. To the southeast, lies the Bumbat North (gold anomaly) and Bumbat (copper anomaly), and the Tana high-grade gold veins.

Some of Altan Rio’s half-dozen Mongolian geologists have also contributed to the exploration programs of Altan Nevada where they have eight properties, 100%-controlled, making the company one of the top 20 mineral land holders in the state. Two projects are in the Carlin trend gold belt, two on either side of Barrick’s Round Mountain Gold Mine, and the rest in the Yerington District near Reno with gold-copper prospects.

Altan Nevada is concentrating on the two properties closest to Round Mountain: Radar and Black Top, large epithermal gold deposit types of 16.5 and 36.6 km2 respectively. Radar is a high-sulphidation, epithermal, gold target adjacent to the Paradise Peak Mine, which produced 1.6 million ounces of gold, and has a good mill in operating condition. Recent work shows high-temperature, stockwork-style (network of veins) gold mineralization with values such as 0.63 ppm gold, 0.53 ppm silver, 0.31 ppm mercury, and 221 ppm molybdenum (same as g/t).

Geophysical studies suggest sulphides and silicification; five high-priority drill holes are underway with results expected soon. The Black Top property consists of a major Miocene epithermal, gold system in the southeastern Round Mountain corridor, with anomalies covering 3 km by 7 km, and results up to 0.73 ppm gold, 10.3 ppm silver, 2500 ppm arsenic, and <1,000 ppm mercury. Altan Nevada believes the bulk of the ore body (on a similar scale to the Round Mountain pit) lies southeast of mineralized outcrop samples and down-gradient on carbonate basement as indicated by geophysical studies.

Altan Rio and Altan Nevada got a head start as they were well-funded, privately, in the early days when other companies were struggling. Cash on hand at year-end 2011 was $1.6 million.

Altan Nevada Grants Options

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 February 3rd, 2012 – Vancouver, British Columbia – The Board of Directors of Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or “the Company”) has authorized the Company to grant 1,837,100 stock options (“Options”) to certain directors, officers and consultants of the Company. The Options will: (i) vest over an 18 month period for directors with 33.3% vesting every 6 months and over a 12 month period for officers and consultants with 25% vesting every 3 months; (ii) be exercisable to acquire one common share of Altan Nevada at CA$0.40 per share; and (iii) expire February 1st, 2017.

Options are granted subject to the terms and conditions of the Company’s Stock Option Plan (filed on SEDAR) and are subject to TSX.V approval. Options are administered by the Board of Directors who may authorize the Company to make allocations to eligible persons after considering their present and future potential contributions and value to the Company.

About Altan Nevada

Altan Nevada is an exploration company focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company is currently exploring holdings in Nevada totaling more than 13,710 hectares. Projects include potential district-scale extensions to the north Carlin Gold Trend and three Yerington District copper-gold targets.

On behalf of The Board of Directors of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones,

President & CEO

For more information please contact:

Kelly Earle

Corporate Communications Manager

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Altan Nevada Commences Drilling at Radar Project

company news | Projects : Radar
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December 22nd, 2011 – Vancouver, British Columbia – Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or “The Company”) is pleased to report that drilling has commenced at the Radar (100%) gold-silver project (“Radar”), located in Nye and Mineral Counties, western Nevada, USA.

The Phase I Drill Program at Radar will consist of 5 holes (approximately 2500 m) of diamond drilling, to be completed by KB Drilling of Nevada. The program is expected to be finished in early February, 2012.

The objective of the program is to test robust IP anomalies at depth, particularly those down-system from surface mercury mineralization and historic mines. The targeted zones are large (1+ km) and could represent high tonnage potential. Initial assay results can be expected in early 2012.

About the Radar Project

Radar is an early stage gold-silver conceptual exploration target, located immediately adjacent to the former gold-silver-mercury Paradise Peak mine. It consists of 204 unpatented mining claims owned 100% by Altan Nevada.

A soil geochemical sampling grid along with ground gravity; magnetic and deep-looking Induced Polarization (IP) geophysical surveys; and, geological mapping were completed over the period 2007 to 2009, with further rock sampling completed in 2010. This work identified structures and anomalous geochemistry that, combined with geophysical anomalies, defined drill targets within a structural fabric similar to Paradise Peak. Specific targets include high IP chargeability zones with dimensions of the order of 1 x 1 km.

The character of mineralization sought at Radar is high-sulfidation gold-silver zones.  Anomalous Au, Hg, Ag, Bi, Mo and As observed in rocks and soils on the project are hallmarks of the intense high-sulfidation alteration focused along the main structural features. Geophysically-imaged target zones occur at depths from 250 to 700 m and have not been tested by the shallow historic drilling campaigns on the property.

Altan Nevada Drilling at Radar Project

Planned drill holes at Altan Nevada’s Radar Project, in Nye and Mineral Counties, western Nevada

About Altan Nevada

Altan Nevada is an exploration company focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The company is currently exploring holdings in Nevada totaling more than 13,710 hectares. Projects include potential district-scale extensions to the north Carlin Gold Trend and three Yerington District copper-gold targets. To date, over US$4.4M has been spent acquiring and exploring highly prospective projects and identifying targets.

Competent Person Statement

J. Kelly Cluer, a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Radar Project.

 

 On behalf of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones,

President & CEO

For more information please contact:

Kelly Earle

Corporate Communications Manager

Altan Nevada Minerals Limited

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com




This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Closing of $1 Million Brokered Financing, Completion of Qualifying Transaction, Consolidation and Name Change

company news | Projects : Radar, Star Lake
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Vancouver, British Columbia – Altan Nevada Minerals Limited (fka “VLM Ventures Ltd.”) (“VLM”)(TSX VENTURE: VVL.P), a former Capital Pool Company (“CPC”) trading on the TSX Venture Exchange (the “Exchange”), is pleased to announce the closing on December 15, 2011 of its previously announced Qualifying Transaction, consisting of the acquisition of all of the issued and outstanding securities of Altan Nevada Minerals Limited, a privately held company incorporated under the Business Corporations Act (“Altan NV”) (see the Corporation’s press release dated June 22, 2011 (“June Release”) and its Filing Statement dated October 31, 2011 for further details) and the completion of a concurrent brokered private placement by the Corporation for aggregate gross proceeds of $1 million (the “Financing”).

Name Change and Share Consolidation

As set out in the June Release and Filing Statement, immediately prior to effecting the Qualifying Transaction, the Corporation effected a consolidation of its issued and outstanding common shares on a one (1) new for two point five (2.5) old basis as well as a name change to “Altan Nevada Minerals Limited.” Shareholder approval for the consolidation was obtained at the annual general and special meeting of shareholders of the Corporation held on August 19, 2011. The name change and the consolidation took effect on December 15, 2011.

Resumption of Trading

The TSX Venture Exchange (“Exchange”) granted conditional approval on November 9, 2011 to the listing of the common shares of the Corporation resulting from the Qualifying Transaction, subject to receipt of final submission documents. Pending satisfactory review of such final materials by the Exchange, it is expected that the common shares of the Corporation will commence trading under the new symbol “ANE” one day after the publication by the Exchange of its final listing Bulletin which is expected to occur early next week.

Three-Cornered Amalgamation

In connection with the completion of the Qualifying Transaction, the Corporation has completed a threecornered
amalgamation (the “Amalgamation”) between its wholly-owned subsidiary 0912570 B.C. Ltd. and Altan NV, and has issued an aggregate of 32,500,000 common shares and 8,633,293 common share purchase warrants to the former holders of Altan NV securities. For a complete summary of such securities and their principal terms, please refer to the Corporation’s Filing Statement dated October 31, 2011, a copy of which can be accessed via the Corporation’s corporate profile at ww.sedar.com.

Financing

In conjunction with the Qualifying Transaction, the Corporation has completed a brokered private placement of 2,500,000 units of the Corporation (each, a “Unit”) at a price of $0.40 per Unit for gross total proceeds of $1,000,000. Haywood Securities Inc. acted as the agent (the “Agent”). Each Unit was comprised of one common share and one-half of one common share purchase warrant (the “Warrant”). Each whole Warrant entitles the holder to acquire one common share at the exercise price of $0.50 for a period of two years from the date of closing (December 15, 2013). The Warrants are subject to an accelerated expiry provision whereby should the shares of the Corporation trade on the Exchange at a volume weighted average price in excess of $0.80 over a period of 30 consecutive trading days, the Warrants will expire 30 days following the date that notice of such event is given to the warrantholders.

The Agent’s compensation was paid by way of a cash commission of 7% of the gross proceeds of the Financing and 175,000 agent’s warrants. Each agent’s warrant entitles the holder to purchase one additional common share of the Corporation at a price of $0.50 for a period of two years from the date of closing (December 15, 2013). A corporate finance fee consisting of 50,000 common shares was also paid to Haywood Securities Inc. The Corporation also reimbursed the Agent for reasonable fees and expenses incurred in connection with the private placement. The securities issued pursuant to the Financing and the Agent’s compensation are subject to four month hold periods expiring April 16, 2012.

Capital Structure

After giving effect to the Qualifying Transaction (and having regard to the previously outstanding securities of the Corporation being, post-consolidation, an aggregate of 1,979,600 common shares), the total issued and outstanding capital of the Corporation consists of 37,029,600 common shares, 9,913,293 common share purchase warrants and 175,000 agent’s warrants. 16,833,633 of the foregoing shares are subject to a surplus security escrow agreement, whereby a 36-
month escrow period applies, with ten percent (10%) being releasable on receipt of final approval of the Exchange and fifteen percent (15%) being releasable every 6 months thereafter.

The foregoing escrowed securities are in addition to the escrowed securities that were deposited under a CPC escrow agreement at the time of completion of the Corporation’s initial public offering. A further 960,000 common shares are held under that agreement, with ten percent (10%) being releasable on receipt of final Exchange approval and fifteen percent (15%) being releasable every six months thereafter.

Appointment of New Directors and Officers

On closing the Amalgamation, the following individuals have been appointed as directors and officers of the Corporation: Evan C. Jones (President, Chief Executive Officer and a Director); Robert Scott (Chief Financial Officer and Corporate Secretary); Kelly Cluer (Vice-President, Exploration and a Director);

John L.C. Jones (Chairman and Director); Murray Seitz (Director); and Michael Doggett (Director).

About Altan Nevada

The Corporation is a mineral exploration company focused on exploring and developing mineral concessions located in Nevada. Altan NV brings to the Corporation five Nevada mineral exploration properties focused on gold and approximately $3 million cash. The Corporation’s primary focus over the 12 months following the Qualifying Transaction will be the Radar Project (the “Radar Project”) and Star Lake Gold Project (“Star Lake Project”), Nevada.

Details regarding the Radar Project and the Star Lake Project are available in the Filing Statement of the Corporation that was filed on October 31, 2011 and is available under the Corporation’s profile at www.sedar.com. The Corporation has also filed on SEDAR a technical report dated August 19, 2011, effective June 10, 2011 entitled “NI 43-101 Technical Report Radar Gold Exploration Project Mineral County Nevada” and a technical report dated August 19, 2011, effective June 10, 2011 entitled “NI 43-101 Technical Report Star Lake Gold Exploration Project Elko and Humboldt Counties Nevada, USA” both by Allan V. Moran, RG (Oregon), CPG (AIPG), of SRK Consulting, prepared for VLM. Mr. Moran is independent of the Corporation.

Further Information

For further details regarding the Qualifying Transaction, including detailed profiles of the individuals that have been appointed officers and directors of the Corporation, readers are encouraged to make reference to the Filing Statement of the Corporation that was filed on October 31, 2011 and is available under the Corporation’s profile at www.sedar.com.

Contact

For further information, contact Kelly Earle, Corporate Communications Manager, at:
Telephone: (604) 639-5899 x 220.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in filings by the Corporation with Canadian securities regulators, which filings are available under the Corporation’s profile at www.sedar.com.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release).

Filing Statement

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See attached.