VANCOUVER, Feb. 27, 2013 /CNW/ - Altan Nevada Minerals Limited, TSX.V: ANE ("Altan Nevada" or the "Company") today announces encouraging assay results from a recently completed
trenching program at the Company's North Star Gold Project (100%) ("North Star") located on the Carlin Trend, Nevada.
Highlights
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Two exploratory trenches were excavated across a promising northerly
trending structural corridor previously shown to be anomalous in gold,
arsenic and antimony - key elements in Carlin-style gold deposits - to
gain structural data in order to precisely aim drill holes at depth
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Results from trench samples revealed gold values up to 1.06 g/t over 3 m
within much broader gold bearing zones ranging from 18 m wide in Trench
3 up to 63 m wide in Trench 2
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Within the gold bearing zones, geochemical associations of arsenic,
antimony and thallium confirm the presence of Carlin-type alteration
and mineralization
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Coupled with IP Resistivity surveys previously completed by the Company,
compelling drill targets are verified and enhanced
Mr. Kelly Cluer, Altan Nevada's Director of Exploration, stated "These new results from trenching at North Star have revealed gold values
up to six times higher than any previous sampling on the project. The
strong geochemistry encountered justifies our belief that a Carlin-type
system is present on the project. Drilling is required to test these
upgraded targets, as a significant zone of gold mineralization may
exist at relatively shallow depths."
North Star Trench Results
A total of 1,541 m of linear excavation was completed in two trenches by
Envirotech Drilling of Winnemucca, Nevada. The program was focused on a
prominent north-south trending structural corridor that was previously
shown by the Company's soil grid geochemical survey to be anomalous in
gold, arsenic and antimony over a 2 km strike length. The trenches were
successful in exposing bedrock for sampling and geological structures
for mapping.
A Carlin-type gold system is present on the project, and focused within
the "Au-As-Sb Corridor" as highlighted on the map below (Figure 1). The
new trenching data verifies the presence of Carlin geochemical elements
with a strong gold (798 ppb), arsenic (575 ppm), antimony (12.8 ppm)
and thallium (0.45 ppm) association across a width of 63 m in the
corridor of Trench 2. A similar geochemical system is indicated in
Trench 3, approximately 600 m north of Trench 2, over a width of 18 m.
The highest gold sample in the program of 3 m @ 1.06 g/t Au was
obtained within this Trench 3 zone.
Gold mineralization is hosted within the Au-As-Sb Corridor along a
contact zone between Paleozoic sedimentary rocks and Tertiary volcanic
rocks, largely within the volcanic rocks where they exhibit strong
argillic alteration, a geological context commonly found in productive
districts along the Carlin Trend. This structural corridor is now shown
to represent a large Carlin-type geochemical leakage anomaly. Such
leakage anomalies overlie known gold deposits elsewhere along the
Carlin Trend and are recognized as first-order guides to drill
targeting.
The new trench results coupled with a Dipole-Dipole IP Resistivity
profile over the Au-As-Sb Corridor completed in 2011 (see Figure 2
above), show compelling drill targets in the 400 to 600 m depth range.
Trench samples were surveyed by Altan Nevada geologists on a 3 m
interval, with minor infill sampling on tighter intervals as dictated
by local geology, and then cut, logged and marked. American Assay Labs
performed all sample preparation and gold and trace element assays
pertaining to the drill cutting samples highlighted in the text and
table above. Gold was analyzed by fire assay; all other elements
were analyzed using aqua regia digestion and ICPMS measurement. The
Company maintains a QA-QC program regarding the preparation, shipping,
and checking of all samples, including the use of certified standard
reference materials, blanks, as well as field and pulp duplicates.
About Altan Nevada
Altan Nevada is a leading exploration innovator focused on the discovery
of large-scale ore systems in under-explored districts of Nevada, USA.
The Company's holdings in Nevada currently total more than 17,500
hectares. Projects include two potential district-scale extensions to
the north Carlin Gold Trend, three Yerington District copper-gold
targets and three large-scale gold alteration systems along the Walker
Lane lineament in central Nevada. To date, over US$5M has been spent
acquiring and exploring highly prospective projects and identifying
drill targets.
Competent Person Statement
Altan Nevada's Exploration Director, J. Kelly Cluer, a Certified
Professional Geologist (AIPG) and a Qualified Person as defined by
National Instrument 43-101, has reviewed the preparation of the
scientific and technical information in this press release in respect
to the North Star Project.
On behalf of Altan Nevada Minerals Limited,
"Evan Jones"
Evan Jones, President & CEO
This press release may contain forward looking statements including
those describing Altan Nevada's future plans and the expectations of
management that a stated result or condition will occur. Any statement
addressing future events or conditions necessarily involves inherent
risk and uncertainty. Actual results can differ materially from those
anticipated by management at the time of writing due to many factors,
the majority of which are beyond the control of Altan Nevada and its
management.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Image with caption: "Figure 1. North Star trench location on geology background showing soil arsenic anomaly and gold results from trench samples. Note excellent correlation of mapped structural zone and gold intersections, particularly in Trench 2. (CNW Group/Altan Nevada Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20130227_C8708_PHOTO_EN_24084.jpg
Image with caption: "Figure 2. A Dipole-Dipole IP Resistivity profile near Trench 2. Note excellent correlation of the Au-As-Sb Corridor leakage anomaly at (near) surface with IP Resistivity features persisting at depth. A conceptual drill hole is shown for reference. (CNW Group/Altan Nevada Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20130227_C8708_PHOTO_EN_24085.jpg
SOURCE: Altan Nevada Minerals Limited
