Black Top

Target: Black Top is a large low-sulfidation epithermal system hosted by Tertiary felsic volcanic flows. The target is a large tonnage, bulk-minable Round Mountain (18 Moz Au) analog.

Area: 102 mining claims covering ~2,047 acres

Location: The project is located in the Walker Lane mineral belt in southern Nye County, Nevada along Highway 375, 17 km from Rachel.

Ownership: The Black Top Project consists of 102 unpatented mining claims owned by100% by Altan Nevada, all on Bureau of Land Management lands.

Overview – Large Epithermal System with Untested Gold Targets

Altan Nevada staked the ground in 2011 after performing rock chip sampling in a regional exploration effort. Mining in the project area began around the late 1920s with the discovery of mercury in silicified volcanics and sediments. Modern exploration for precious metals in the district began around 1980 with the recognition of mercury as a pathfinder element for gold mineralization; however several major features were not previously recognized and represent significant targets with truly large tonnage potential.
Regional location map of the Black Top project, showing position of Yellow Cone project and Round Mountain mine (Barrick-Kinross)
Regional location map of the Black Top project, showing position of Yellow Cone project and Round Mountain mine (Barrick-Kinross)
Dashed lines show northern edge zone of the Walker Lane mineral belt.

Overview – Robust Alteration and Geochemical Anomalies

The metal system at Black Top meets the company’s criteria for large size and robust alteration. Gold and pathfinder geochemical anomalies are present over a 3 x 7 km area, with values up to 0.73 ppm Au, 10.3 ppm Ag, 2,500+ ppm As and >1,000 ppm Hg. Altan Nevada has conducted IP, gravity, magnetics and soil geochemistry surveys and completed 3,177.5 meters of first-pass drilling in August 2012.
Black Top rock chip gold samples
Black Top rock chip gold samples

Geology – Stratigraphy and Structure

Rocks exposed at surface consist of late Oligocene/early Miocene rhyolitic welded crystal ash-flow tuffs, regionally correlated with the Monotony Valley and/or Shingle Pass Tuffs. At depth, these rocks unconformably overlie Ordovician carbonates and quartzite of the Ely Springs Dolomite, Eureka Quartzite and Pogonip Group. Tertiary rhyolite porphyry and granodiorite stocks locally intrude the section. NE-, NW- and NS to NNW-striking faults constitute the three major structural elements of the project area.
Geologic map of the Black Top project area
Geologic map of the Black Top project area
Pink/reddish units are Tertiary welded tuffs. Blue units are Ordovician sedimentary rocks. Dashed blue lines are faults. Red denotes silicification. Light pink colored tuffs on map are argillized. Grid squares are 1 square kilometer.

Geology – Hydrothermal System

Moderate to strong argillic alteration is pervasive in the tuffs over broad areas. Silicified ribs and jasperoid are locally present in volcanic and sedimentary rocks respectively. Au, Ag, As, Hg and Tl anomalies are broadly developed in rocks and soil. This geochemical signature is consistent with a low-sulfidation epithermal system. Hg-bearing jasperoids developed in carbonate rocks on the northwest margin of the system seem to be a distal lower temperature expression of hydrothermal flow along the sedimentary-volcanic contact.

Background : Multistage silicified breccia

image: "Multistage silicified breccia"

Drilling – First Pass Test of IP Anomalies Confirms Large System with Strong Pathfinder Signature

Altan Nevada completed 3,177.5 m of RC drilling in 8 holes in 2012. Holes ranging in depth from 262.1 to 609.6 meters mostly tested IP chargeability anomalies. Anomalous gold (up to 0.109 g/t Au over 6.1 m) was encountered in most holes. Arsenic values commonly exceeded 500 ppm with a cumulative maximum 91.4 m at 324.2 ppm. BT-003 intercepted 170.7 m of 1.83 ppm Hg. At the volcanic/sedimentary rock contact there was up to 13 ppm thallium over 6.1 m and 360 ppm antimony over 1.5 m. These anomalies are typical of epithermal gold deposits and their extensive nature confirms the presence of a large system.
Aerial photo of the Black Top project area showing soil and rock chip geochem anomalies and drill hole locations
Aerial photo of the Black Top project area showing soil and rock chip geochem anomalies and drill hole locations
Blue dashed lines are structures. Barred line is 2012 property boundary.

Target – Large Resistivity Feature in Favorable Downdip Location.

At the Rachel Grade area, the Phase I drill program was focused on IP chargeability features. Going forward, the company will focus on the high resistivity portion of the Rachel Grade geophysical target. This resistivity feature is modeled as a potential source region for gold-bearing fluids, being present directly downdip of the strong pathfinder anomalies intercepted in the Middle Domain area drilling. The target at Rachel Grade is large and its location within the overall hydrothermal system is compelling.
Conceptual section illustrating target for Phase II drill program at Black Top
Conceptual section illustrating target for Phase II drill program at Black Top.
Plan view of IP resistivity data showing position of conceptual target section relative to IP resistivity anomaly
Plan view of IP resistivity data showing position of conceptual target section relative to IP resistivity anomaly.
White/light blue colors denote high resistivity

Recent Work - Reduced claim package to cover new target zone, decrease holding costs

Following first round drilling in 2012, Altan Nevada reduced their land position at Black Top to cover the most promising portion of the Rachel Grade geophysical target. The Rachel Grade resistivity anomaly is very large and only shallowly covered on its western edge, making it a relatively low cost drill target. The company will save approximately $50,000 each year on claim fees through this action, while continuing to pursue exploration of this important target zone.
Black Top project area, showing adjustments to land position and Rachel Grade resistivity target
Black Top project area, showing adjustments to land position and Rachel Grade resistivity target
Green and black barred line is old property outline. Red and white barred line is current land position.

What’s Next –Rachel Grade Anomaly is Priority Target for Next Round of Drilling

Interpretation of 2012 drill data suggests possible up-gradient flow of epithermal fluids likely sourced near the Rachel Grade resistivity anomaly. Altan Nevada management believes a 2,000 meter RC drill program can effectively test this target for approximately $300,000. The company is actively seeking a partner for the project.
image: "Black Top Drilling"


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