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.
- 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.
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, 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]
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.
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