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.
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,
President & CEO
For more information please contact:
Corporate Communications Manager
Altan Nevada Minerals Limited
Tel: +1 604 495 8374
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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