Altan Nevada Minerals Ltd (Altan) is pleased to announce the results of its recent IP survey combined
with ground magnetic interpretation to identify high value targets directly along strike from the
Pumkin Hollow Copper project.
➢ 3D IP/resistivity survey processing and interpretation complete
➢ Magnetic and IP targets identified along strike from the Pumpkin Hollow Cu, Au, Ag deposits
➢ High priority drill targets identified beneath untested copper, gold and silver surface
VANCOUVER, February 1, 2019 – Altan Nevada Minerals Ltd. (TSX.V ANE) (“Altan Nevada” or the
“Company”) is pleased to announce the processing and interpretation of the 3D Induced Polarization (IP)/
resistivity survey at the Company’s Venus Project, Yerington District, Nevada, USA has been completed.
The Venus Project is within the Yerington copper porphyry district located in the Walker Lane mineralized
belt in Nevada. It is approximately six miles east-south-east of the Yerington Township. Altan Nevada’s
decision to advance exploration at the Venus Project coincides with the development at the Pumpkin
Hollow Copper Mine immediately to the north and less than one mile from the tenement boundary (Figure
Figure 1 – Aerial view of Altan Nevada’s Venus Project and Nevada Copper’s Pumpkin Hollow Project with deposit locations.
Located on-strike from Pumpkin Hollow, Altan Nevada’s Venus Project consists of 111 unpatented mining
claims covering approximately 2,165 acres (~8.76 km2), all situated on Bureau of Land Management
Altan Nevada commissioned leading geo-scientific exploration consultants, Terra Resources Pty Ltd, to
supervise acquisition and interpretation of the 3D IP/resistivity survey. As the Pumpkin Hollow deposits
are high grade IOCG chalcopyrite-magnetite skarn, magnetics and IP/resistivity was used to identify the
location of possible mineralisation under cover.
Figure 2 – The 3D IP survey plan (left) and surface geochemistry (right). The IP transmitter locations shown in red and the
receiver locations shown in blue. Geochemical target areas are shown (right). Also shown are Nevada Copper’s deposit
The 3D IP/resistivity survey was acquired in east-west survey configuration with 500m spaced transmitter
lines and 250m spaced receiver lines. The transmitter and receiver spacing along lines are 100m.
Transmitter lines have end-of-line offset for increase depth penetration. The survey has been designed to
see up to ~500m deep. The 2008 dipole-dipole data was added to the 3D IP survey data and included in
the processing and interpretation.
The 3D IP/ resistivity survey, which has successfully mapped down to 500m, has identified chargeable
zones which could be attributed to sulphide mineralisation. These zones are shown in red in Figure 3.
Some of the chargeable zones have coincident magnetic (magnetite) and geochemical responses (Cu,
Au and Ag) and are considered high priority targets (Figure 3 in blue). Approximately 2500m of drilling
has been proposed (Figure 4). Targets range in depth from 100m to 250m below surface.
Figure 3 – The 3DIP chargeable zones (red) and 3D magnetic highs (blue) with proposed drilling.
Figure 4 – 3D view of 3DIP chargeable zones (red) and 3D magnetic highs (blue) with proposed drilling.
Venus is now considered to have ever better potential than previously thought 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.
The next stage of the exploration program is to site the drill locations and prepare for a drill program in
Q1 of 2019.
Altan Nevada looks forward to providing additional information as site works progress.
John Jones AM (Chairman)
Phone: +61 9322 1788
Email: [email protected]
Altan Nevada Minerals Ltd
800-1199 West Hastings Street
Vancouver BC Canada V6E-3T5
Competent Person Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr
Barry Bourne, who is employed as a Consultant to the Company through geophysical consultancy Terra
Resources Pty Ltd. Mr Bourne is a fellow of the Australian Institute of Geoscientists and a member of the
Australian Society of Exploration Geophysicists and has sufficient experience of relevance to the styles of
mineralisation and the types of deposits under consideration, and activities undertaken, to qualify as a
Competent Person as defined in the 2012 Edition of the Joint Ore reserves Committee (JORC) Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mt Bourne consents to
the inclusion in the report of matters based on information in the form and context in which it appears.