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Altan Nevada Announces Encouraging Results at North Star Gold Project in Nevada, Partner Withdraws
VANCOUVER , May 22, 2015 /CNW/ - Altan Nevada Minerals Ltd. (TSX.V: ANE) (" Altan...
About this update from Helius Minerals Limited
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, May 22, 2015 /CNW/ - Altan Nevada Minerals Ltd. (TSX.V: ANE) (\"Altan Nevada\" or the \"Company\") announces that Teck American Incorporated (\"Teck\") has withdrawn from North Star project (\"North Star\" or the \"Property\") located in Elko County, Nevada. Teck has transmitted a report and all pertinent data to the Company subsequent to the completion of the 2014 exploration program. A brief summary of the project and results follows. \n\nAltan Nevada's management is strongly encouraged by the results of this first round of deep exploration drilling at North Star, which we believe reinforces our view that the entire southeastern half of the uplifted horst block is prospective for the discovery of a major Carlin-type ore body. \n\nThe Company is currently evaluating the data from drilling in detail. As a part of this effort, the Company is scheduling a third-party review of the core and data by an independent consultant with demonstrated expertise in Carlin Trend exploration geology. \n\nProvisions for carrying the project forward will be formed subsequent to receipt of the results from the third-party review, which we expect before the end of the second quarter or early in the third quarter.\n\nProgram Summary\n\nDuring the autumn of 2104, Teck drilled a single vertical core hole at the project. A key objective of the drill program was to test for favorable Lower Plate strata at reasonable depths. The hole was collared in the Upper Plate Vinini Formation. At a depth of 559 meters, the hole passed through a 10 meter thick shear zone and into a distinctly different lithologic unit consisting of mudstone, siltstone, calcareous siltstone, chert, laminated siliceous mudstone, and dolomitic siltstone. Teck's geologic staff logged these strata as Devonian Rodeo Creek Formation, an important Lower Plate unit on the Carlin Trend, after recognizing similarities between rocks intersected below 559 meters and published descriptions of the unit on the Carlin Trend. Their logging of the core indicates that zones of silicification and decalcification are present in this rock package. This lower rock unit contains several zones strongly anomalous in mercury (+1 ppm), an important pathfinder element in Carlin-type gold systems. These anomalous zones included a continuous interval of 1 to 3.9 ppm mercury from 614.5 met...