Radar

Targets: High-sulfidation epithermal gold-silver mineralization

Area: ~4,070 acres, or ~16.5 km2

Location: Paradise Peak gold-silver district, western Nevada, USA

Ownership: 100%

Partners: 

Gold Resource Corp, subject to meeting certain annual payment and work expenditure requirements, has the option to purchase a 100% interest in 88.7% (3,550 acres) of the Property for $US 1,500,000, with Altan Nevada retaining a 3% NSR

Avidian Gold (US) Inc, subject to meeting certain annual payment and work expenditure requirements, has the option to purchase a 100% interest in 11.3% (520 acres) of the Property for $US 500,000, with Altan Nevada retaining a 3% NSR

Overview

Large land position adjacent to past producer

Radar is an early stage high-sulfidation epithermal precious metals exploration project located directly adjacent to the past producing Paradise Peak gold-silver mine in Mineral County, western Nevada. It consists of 204 unpatented mining claims owned 100% by Altan Nevada, with a Mining Lease and Option to Purchase Agreement on 26 of the 204 claims with Avidian Gold US Inc., a private Nevada corporation.

Radar_Claims

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

   
High-grade vein potential 2 km from existing mill

Paradise Peak operated from 1986 to 1993, producing 1.7 million ounces of gold and 44.3 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. Rader is located approximately 2 km from the Paradise Peak mill, currently in care and maintenance and available for purchase. Exploration at the Radar project, including detailed geologic mapping, geochemistry, geophysics and first-pass drilling has defined untested targets including high grade Goldfield-type veins.

Radar_Paradise_Peak

Paradise Peak mine and mill.

Geology

Setting and Stratigraphy
Radar is located in the Walker Lane mineral belt, an approximately 500 km long mineral trend which runs along the Nevada-California border and hosts numerous historic and modern precious metals mines and districts. Tertiary volcanic rocks underlie the property, locally covered by Quaternary gravels. These rocks are Oligocene to Miocene in age and consist of rhyolitic tuffs and flows overlain by trachyandesite, dacite and andesite porphyry. Latitic to dacitic porphyries locally intrude the section.      

Radar Geology

Map of the Walker Lane mineral belt, showing location of Paradise Peak mine.

From Sillitoe and Lorson, 1994, Economic Geology, v. 89, no. 6

Radar Geology

Geologic section through the Radar project showing stratigraphy, structure and alteration

Geology

Structure and Alteration
NW-striking high angle structures host major zones of alteration and pathfinder element anomalies. These structures cross-cut and offset older NE- and NNW-striking faults. The majority of the faults encountered in drill holes are apparently low-angle detachment faults that commonly separate individual flows. Alteration present at Radar includes widespread argillization with local zones of pervasive chalcedonic to opaline silicification, commonly associated with multiphase hydrothermal breccias. Kaolinite, dickite, jarosite and alunite are present in strongly argillized structural zones.  

Radar_Geology3

 Geologic Map of the Radar project

image: "Paradise Peak Mill, currently in care and maintenance located 2KM from the Radar Project."

Drilling

First Four Holes Tested Geophysical Targets
Altan Nevada completed a first-pass drill program at Radar in 2012, consisting of four holes for 1,949 meters of diamond drilling. The holes tested geophysical anomalies near the center of the project. Tests of chargeability anomalies intercepted strong pyrite mineralization, but only weakly anomalous precious metals enrichment. One hole was lost just above the target and returned elevated Au and pathfinder elements above the bottom of the hole. These anomalies may indicate proximity to ore and the target remains untested.
image: "Radar Drilling"

Targets

Goldfield-type High Grade Veins

Mineralized structures at Radar are prospective hosts for high-grade vein systems similar to those historically mined in the Goldfield district, located approximately 132km southeast of Radar. The Goldfield district is a classic high-sulfidation epithermal precious metals system with historic gold grades in narrow veins averaging over 660 g/t. NW- and NNW-striking structural zones with strong alteration and gold- pathfinder element anomalies (including Ag, As, and Hg) are compelling targets for this style of mineralization.

Radar Targtet

Schematic model of the Paradise Peak district, illustrating potential for structurally controlled narrow vein ore bodies. From Silitoe and Lorson, 1994, Economic Geology, v. 89, no. 6

Radar Targtet

Radar Structural-Geochemical Targets, showing targets defined by arsenic anomalies Green hachured shapes show position of coincident gravity and IP anomalies

Targets

Coincident Gravity/IP Anomaly Remains Untested

Gravity and IP surveys by Altan Nevada during 2007-2009 revealed the presence of an annular gravity low coincident with IP chargeability and resistivity anomalies. This target was addressed in the first round of drilling with drill hole RA-03. It was necessary to abandon the hole above the target because of adverse drilling conditions, but the last 50 meters returned elevated gold and pathfinder elements. The target remains untested.

Radar Targtet

Geologic section through gravity-IP anomaly target area

Recent Work

Spectrometric Analysis Supports Further Tests of Large Structural Target
Altan Nevada received results of spectrometric analyses of samples collected at Radar in 2014. These came from strongly altered rock in a 1.8 kilometer long structural zone with strongly anomalous mercury. The results show kaolinite as a dominant alteration mineral. At Paradise Peak and other high-sulfidation deposits, kaolinite is part of a mineral zonation which surrounds ore. This structure received limited drilling of a geophysical target in 2012 and downdip potential for high-grade Goldfield-type veins remains untested.
Structurally controlled mercury-in-soil anomaly
Structurally controlled mercury-in-soil anomaly
Altered rock along this structure contains abundant kaolinite, part of an ore-related mineral zonation.

What's Next

Numerous Drill Targets Remain

Testing of the gravity-IP feature near the center of the project remains a priority. Additionally, there are at least five structural-geochemical targets not tested in the initial drilling. Focused geophysics and detailed mapping may be necessary to further refine future drill targets.

Results from Avidian Gold and Gold Resource Corporation led exploration programs are highly anticipated.

image: "Radar Drilling"


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