North Star

Targets: Carlin-style gold mineralization associated with structures along the edges of the North Star horst block.

Area: ~3,152 acres, or ~12.76 km2.

Location: North-western extension of Carlin Trend, northern Nevada, USA.

Ownership: 145 lode mining claims owned 100% by Altan Nevada & 18 claims with an option to obtain 100% interest.

Overview – Underexplored exposure of Paleozoic rocks on the northern end of the Carlin Trend

North Star is an underexplored gold project at the northern extent of Paleozoic rock exposures along the Carlin Trend, located 55 km north-northwest of Barrick’s Goldstrike mine (52 Moz past production plus current reserves). It consists of 163 lode mining claims, with 145 100% owned by Altan Nevada and the remaining 18 claims owned by Genesis Gold Corp. and subject to a purchase option agreement allowing Altan Nevada to obtain a 100% interest.
Location of North Star project along the Carlin Trend
Location of North Star project along the Carlin Trend.
Gravity image showing gravity highs in yellow/ light orange. Crossed shovel symbol denotes mines.

Overview – No drill test of projected Carlin host strata

Previous explorers conducted important geochemical and geophysical surveys, including four lines of CSAMT profiling and a number of shallow reverse circulation holes, the deepest being 219 meters and bottoming in Upper Plate strata projected to overlie favorable Carlin Trend host rocks. Drilling south of North Star intersected interpreted favorable host rocks at 490 meters. Combined, previous operators drilled 33 holes aimed at near-surface targets but there has been no test of the ore host Lower Plate stratigraphic section.

image: "North Star project area, looking west"

Geology – Stratigraphy

North Star occupies part of an upthrown horst of Paleozoic sedimentary rocks along the northern projection of the Carlin Trend. These include chart, siltstone, sandstone and limestone of the Ordovician Vinini Formation. Calcareous rocks along the western side of the horst contain Carboniferous fossils and belong to the Strathearn Formation. In addition, small intermediate intrusive stocks and Tertiary basalt flows crop out in the eastern part of the project. A dated Eocene granodiorite is present south of the property.

image: "North Star Soil Sampling"

Geology – Structures

Gravity data compiled by Altan Nevada’s geophysical consultant displays steep gradients present within and on the margins of the horst. The gravity shows the horst is separated into two major blocks termed the Upper and Lower horsts. Separating the two is a north-northeast striking structure termed the Separator Fault. Surface mapping indicates that this structure separates Vinini Formation sedimentary rocks and Tertiary mafic volcanic rocks to the east from Strathearn Formation rocks to the west.
North Star gravity data showing uplifted horst block and interpreted structures
North Star gravity data showing uplifted horst block and interpreted structures.
Dashed black lines are interpreted structures. Solid black lines show project outline. Colored dashed lines are geochemical anomalies.

Geology – Hydrothermal System

Alteration is characteristic of Carlin-type deposits, with local jasperoidal silicification, widespread decalcification and anomalous gold and other associated elements. Altered rocks carry up to 1059 ppb Au, 457 ppm As, 14 ppm Sb, 3.6 ppm Hg and 2.6 ppm Tl. Geochemical sampling and trenching delineated a 2 kilometer long NNE-striking Au-As-Sb anomaly associated with the Separator Fault. A Zn halo is also present. These anomalies are typical of the geochemical signature of Carlin-type gold deposits.
Map showing Carlin-style geochemical anomalies along the Separator Fault
Map showing Carlin-style geochemical anomalies along the Separator Fault.

Targets – Major gravity high similar to Carlin Trend North Area

The combination of geology, geophysics and geochemistry indicates that North Star is highly prospective for Carlin-type gold deposits. The property occupies a gravity high and block of exposed Paleozoic rocks along the projection of the Carlin Trend. Structurally uplifted blocks of Paleozoic sedimentary rocks host major gold deposits to the south in North Area. Major gravity highs define these blocks. The gravity signature of North Star bears a remarkable similarity to that of North Area on the Carlin Trend.
Regional gravity map showing locations of North Star, Carlin Trend North Area and Star Lake gravity high anomalies.
Regional gravity map showing locations of North Star, Carlin Trend North Area and Star Lake gravity high anomalies.
overview_04
Carlin Trend North Area residual gravity, structures and ore bodies.
Ore body shapes shown in solid red. Structures shown as black dashed lines.

Targets – Geochemistry and IP suggest Carlin-type gold system at drillable depth

Soil sampling shows a 2 km long Au-As-Sb anomaly along the Separator Fault. Trenching by Altan Nevada in late 2012 confirmed the presence of extensive structurally controlled anomalies in bedrock (including up to 1.06 g/t Au over 3 meters in Trench 3). Arsenic and antimony are important Carlin gold pathfinders and this geochemical signature is consistent with the presence of a Carlin-type gold system. IP data displays features suggesting the presence of Lower Plate host rock at economically mineable depths.
Map of soil and rock geochemical gold anomalies along the Separator Fault
Map of soil and rock geochemical gold anomalies along the Separator Fault.
IP resistivity section displaying conceptual drill target and positions of resistivity contrasts and geochemical anomalies along the Separator Fault
IP resistivity section displaying conceptual drill target and positions of resistivity contrasts and geochemical anomalies along the Separator Fault.

Recent Work – Partnership With Teck Resources

In December 2013, Altan Nevada concluded an agreement with Teck Resources Ltd., Canada’s largest diversified resource company, to explore the property. Under the terms, Teck has the option to earn up to an undivided 70% interest in the North Star property and participate as joint venture partner by incurring $5,000,000 in expenditures on the project.
Recent Work on North Star

What's Next

As operator of the project, Teck plans an ambitious drill program to fulfill their $400,000 work commitment for the first year of the agreement. Compilation of Altan Nevada and earlier geological, geochemical and geophysical data by the company’s Vancouver staff is complete and first-pass drill targets have been selected in consultation with Altan Nevada. Drill contracts and revised permitting are in process. Teck expects to commence drilling sometime in the summer of 2014.

image: "North Star Trench 2, Looking West."


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