VANCOUVER, BC, Canada (August 01, 2019) – Altan Nevada Minerals Limited (TSXV: ANE) (the “Company”) is pleased to announce the acquisition of an additional 97 claims covering 2004 acres expanding the company’s existing tenure over the Venus copper gold target., Yerington District, Nevada, USA (Figure 1)
- Additional 2004 Acres of Federal land staked
- Immediately adjacent and along trend from the Venus Drill Targets
- Soil Sampling program completed and submission of assays pending
The decision to expand the current landholding of 111 claims was based on a review of the regional airborne and geological data. Several old workings have also been identified within the new claim area. 176 new soil samples have been collected on a 600ft (~180m) x 1500ft (~450m) sample spacing. The soils will be submitted when drilling commences at Venus.
The Venus Project, which is 100% owned by Altan Nevada, is located within the Yerington copper porphyry district in the Walker Lane mineralized belt in Nevada. It is approximately six miles east-south-east of the Yerington township, and easily accessible by both paved and dirt roads. Altan Nevada’s decision to advance exploration at the Venus Project coincides with the recommencement of development at Nevada Copper Corp.’s (TSX:NCU) (“Nevada Copper”) Pumpkin Hollow Copper Mine immediately to the north and less than one mile from the tenement boundary.
Pumpkin Hollow, 100%-owned by Nevada Copper, is a fully permitted project, encompassing both underground and open cut mines, and is expected to produce an average 50 million pounds of copper annually over 23 years commencing mid-2019. Located on-strike from Pumpkin Hollow, Altan Nevada’s Venus Project now consists of 208 unpatented mining claims covering approximately 4,169 acres (~16.9 km²), all situated on Bureau of Land Management (Federal) land.
In summary, Venus is considered to have good potential for the discovery of new deposits of similar size and grade to Pumpkin Hollow. It also has the potential for discovery of buried porphyry-style copper mineralization with characteristics similar to the Yerington Mine.
Further exploration work is about to commence at the Venus Project, with a drill rig scheduled to arrive on the property on August 17, 2019.
Figure 1 – Altan Nevada new Venus South claims shown in blue and existing claims in black. Results of government regional airborne magnetic data shown as colour image. Also shown are Nevada Copper’s deposit locations (red) with mapped structures in black and Altan Nevada’s proposed drilling locations (blue dots) with IP targets in pink/red.
On behalf of Altan Nevada Minerals Limited
For more information contact:
John L C Jones AM – Chairman
|Email: [email protected]
+61 9322 1788
Paul Stephen – CEO
Email: [email protected]
+61 9322 1788
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release
The technical and scientific information in this news release has been reviewed and approved by Barry Bourne, the Company’s VP Exploration, Mr. Bourne is a Qualified Person as defined in National Instrument 43-101 of the Canadian Securities Administrators, and a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves.