Altan Nevada’s Exploration Review Reveals Drill Targets at Venus Project
Altan Nevada’s Exploration Review Reveals Drill Targets at Venus Project
Highlights
Along strike from Nevada Copper’s Pumpkin Hollow Cu, Au, Ag deposits
Untested copper, gold and silver surface geochemical anomalies
Magnetic targets within 200m of surface
Induced polarisation anomalies adjacent to the Graben Fault
VANCOUVER, August 7, 2018 - Altan Nevada Minerals Ltd. (TSX .V ANE) (“Altan Nevada ” or the
“Company”) is pleased to announce its decision to advance exploration at the Company’s Venus Project,
Yerington District, Nevada, USA.
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 d irt roads. Altan Nevada’s
decision to advance exploration at th e Venus Project coincides with the recommencement of
development at Nevada Coppe r Corp.'s (TSX:NCU) (“Nevada Copper”) Pumpkin Hollow Copper Mine
immediately to the north and less than one mile from the tenement boundary (Figure 1).
Figure 1 - Aerial view of Altan Nevada’s Venus Project and Nevada Copper’s Pumpkin Hollow Project with deposit locations.
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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 consists of 111 unpatented mining claims covering approximately 2,165 acres (~8.76 km²),
all situated on Bureau of Land Management (Federal) land.
Altan Nevada recently commissioned leading geo-scientific exploration consultants, Terra Resources Pty
Ltd, to undertake a review of the Venus Project and its potential to host shallow mineralised targets .
The review included both previous work undertaken by Altan Nevada and public information from
Pumpkin Hollow across a number of geo -scientific disciplines including regional geology , surface
geochemistry, ground magnetics, gravity and Induced Polarization (IP) surveys.
As the Pumpkin Hollow deposit s are high grade IOCG chalcopyrite -magnetite skarn, magnetics and
IP/resistivity have been useful in identifying the location of mineralisation under cover. Previously,
Altan Nevada conducted ground geophysical surveys including gravity, magnetics and IP over part of the
Venus project . The ground magnetics has directly identified zones which are interpreted to be
associated with magnetite. Recent 3D modelling suggests the depth to the top of these target areas are
all less than 200m (Figure 2).
Figure 2 - Results of the ground magnetic survey (left) and 3D magnetic modelling. Depth slices at ~150m below surface
(right) with potential target areas. Also shown are Nevada Copper’s deposit locations. The Nevada Copper deposits are
associated with magnetic highs.
Rock chip and soil sampling activities were also conducted, both along the northern border in an area of
gold-telluride veins and further south in a zone of copper -stained granitic dikes (Figure 3) . Assays
confirmed elevated gold, copper and tellurium to the north and demonstrated that a dike zone carries
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copper (0.86%) and gold (6.04 g/t), supporting potential for the occurrence of high grade copper -
precious metals veins. Moreover, evidence at surface of anomalous cop per, silver and gold leakage
along structures suggests that geological targets may exist similar to the known mineralization at
Pumpkin Hollow.
Figure 3 - Results of surface geochemical sampling for copper (left) and gold (right). Also shown are Nevada Copper’s deposit
locations.
Venus presents as a porphyry/ skarn Cu (Au, Ag, Fe) target with the IP survey (Figure 4) producing a
good response at shallow depth adjacent to the Graben Fault and strong gold anomalies (6.8 g/t). Drill-
ready targets over robust Cu/ Au anomalies associated with potassic alteration and a zo ne of porphyry
dikes, are present as well as evidence for deeper magnetite sources in the ground magnetics.
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Figure 4 - Results from two lines of IP (left) and surface geochemistry (right). The IP depth sections plotted underneath the
acquisition location (blue line), shows two good targets adjacent to the Graben Fault. The se represent standalone drill
targets. Geochemical target areas are shown (right). Also shown are Nevada Copper’s deposit locations.
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.
The next stage of the exploration program at the Venus Project is to prioritize and further ground truth
existing targets with a view to commence drill testing late in 2018.
Contact:
John Jones AM (Chairman)
Perth, Australia
Phone: +61 9322 1788
Email: [email protected]
Altan Nevada Minerals Ltd
800-1199 West Hastings Street
Vancouver BC Canada V6E-3T5
NI 43-101 Statement
The scientific and technical information in this news release has been reviewed and approved 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
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Australian Society of Exploration Geophysicists , and a Qualified Person under the terms of National
Instrument 43-101. Mr. Bourne has verified the technical data disclosed in this news release.
Cautionary Statement on Forward-Looking Information
Certain statements in this release constitute “forward -looking statements” or “forward- looking
information” within the meaning of applicable securities laws, including without limitation, statements
regarding commencing drill testing in late 2018, and statements regarding good potential for the
discovery of new deposits at the Venus Project.
Such statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the company, or industry results, to be materially
different from any future results, performance or achievements expressed or implied by such forward-
looking statements or information. Such statements can be identified by the use of words such as “may”,
“would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the
company’s current expectations regarding future events, performance and results and speak only as of
the date of this release.
All such forward- looking information and statements are based on certain assumptions and analyses
made by Altan Nevada's management in light of their experience and perception of historical trends,
current conditions and expected future developments, as well as other factors management believe are
appropriate in the circumstances. These statements, however, are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to differ materially from those
projected in the forward- looking information or statements including, but not limited to, unexpected
changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties
to contracts to perform as agreed; social or labour unrest; changes in commodity prices; and the failure
of exploration programs or other studies to deliver anticipated results or results that would justify and
support continued studies and exploration.
Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward- looking statements contained in this news release are based upon what
management of Altan Nevada believes are reasonable assumptions, the company cannot assure
investors that actual results will be consistent with these forward- looking statements. These forward -
looking statements are made as of the date of this news release and are expressly qualified in their
entirety by this cautionary statement. Subject to applicable securities laws, the company does not
assume any obligation to update or revise the forward- looking statements contained herein to reflect
events or circumstances occurring after the date of this news release.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this news release.