Altan Nevada identifies Pumpkin Hollow Strike Extension Targets
Altan Nevada identifies Pumpkin Hollow Strike Extension Targets
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.
Highlights
➢ 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
geochemical anomalies
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
1).
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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), al l situated on Bureau of Land Management
(Federal) land.
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
locations.
The 3D IP/resistivity survey was acquired in east-west survey configuration with 500m spaced transmitter
lines and 250m spaced receiver lines. The transmitte r 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.
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Figure 3 – The 3DIP chargeable zones (red) and 3D magnetic highs (blue) with proposed drilling.
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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 pr ogram 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.
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
National Instrument 43-101 statement
The scientific and technical information in this news release has been reviewed and
approved by Barry Bourne, who is employed as a consultant to the company through
geophysical consultancy Terra Resources. Mr. Bourne is a fellow of the Australian Institute
of Geoscientists and a member of the 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.