TSX.V: ANE
VANCOUVER, March 18, 2015 /CNW/ - Altan Nevada Minerals
Limited (TSX-V: ANE) ("Altan Nevada" or the
"Company") is pleased to announce that partner Gold Resource
Corp. (NYSE MKT:GORO) ("Gold Resource") has commenced a 1780
meter Phase I diamond drill program at the Company's Radar
gold-silver project ("Radar" or the "Property") located in the
Paradise Peak district, Mineral
and Nye Counties, Nevada.
The program is designed to test six new high-grade epithermal
vein targets generated by Gold Resource's geological staff
following completion of new detailed mapping program and the
compilation of Altan Nevada's extensive geological, geochemical,
geophysical and drill data. Gold Resource plans to drill 6
holes to depths of between 250 and 340 meters. Falcon Drilling Inc.
is under contract to operate the program, which is expected to
complete in Q2.
Targets are located approximately 1.4 to 3.4 kilometers south of
drilling completed at the Property in 2014 by Avidian Gold Inc
("Avidian"), a private Nevada corporation. Previously announced
mineralized intercepts from Avidian's program included 35.0 meters
grading 0.641 g/t Au (including 6.1 meters grading 1.39 g/t Au)
from 56.4 meters to 91.4 meters in drill hole CLD-17 and 48.7
meters grading 0.387 g/t Au from 36.6 meters to 85.3 meters in
CLD-18.
Radar
Radar consists of 204 unpatented mining claims located in the
productive Walker Lane mineral belt in western Nevada. There are 26 claims leased to Avidian.
In 2014 Altan Nevada concluded a separate lease agreement with Gold
Resource for the remaining 178 claims.
Radar is a high-sulfidation epithermal precious metals target
hosted by highly altered Miocene volcanic rocks. The property is
adjacent to the past-producing Paradise Peak open pit Au-Ag mine
(1.53 million ounces Au, 40.7 million ounces Ag, 1986 -1993) and is
located 2 kilometers from the main pit and mill, with satellite
pits as close as 75 meters from the property boundary.
Altan Nevada has spent over $US 1.1
million to develop targets at the Radar project since 2006.
Targeting included detailed geologic mapping, geochemistry,
geophysics and first-pass drilling.
Prospective targets include near-surface porphyry stockworks as
well as high-grade veins similar to those mined in the Goldfield district, located in the Walker Lane
approximately 132 kilometers southeast of the Property. The
Goldfield district is a classic
high-sulfidation epithermal vein system with historic bonanza
grades over 600 g/t Au. Structural zones at Radar with strong
alteration and gold-pathfinder element anomalies are compelling
targets for this style of mineralization.
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
approximately 8,350 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 western Nevada.
Competent Person Statement
Altan Nevada's Exploration Director, Brion Theriault, 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
Property.
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.
SOURCE Altan Nevada Minerals Limited
