Altan Rio Intersects 1.77 g/t gold over 8.05 m at Chandman-Yol, Mongolia

Figure 1.  Takhilt drill hole location map showing magnetics draped over geology, geochemical and geophysical anomalies and rock sample gold results. A prospective target that requires further drilling is present in the area of the words "Copper-Gold bearing granite system". (CNW Group/Altan Rio Minerals Limited)

TSX.V: AMO 

VANCOUVER, Jan. 18, 2013 /CNW/ - Altan Rio Minerals Limited, (TSXV: AMO) ("Altan Rio" or the "Company") is pleased to announce results from the recently completed drilling program at the Company's 1,402 km2 100%-owned Chandman-Yol copper-gold porphyry project ("Chandman-Yol") in western Mongolia, including 8.05 m at 1.77 g/t gold only 16.30 m from surface, at the recently discovered Takhilt target.

Highlights:

  • Completion of seven diamond core holes for 3,030.35 m under a contract that allows the Company to pay for approximately 60% of the invoice cost in shares (subject to TSX.V approval).
  • Two main target areas were tested: the large concealed Ovoot IP anomaly and the extensive partly-exposed mineral system at Takhilt.
  • At Takhilt, 17 km NNW of the major KY copper-gold porphyry system, five moderately wide spaced holes were completed and several new zones of gold and copper mineralization were intersected, including a shallow intercept beginning at 16.30 m from surface of 8.05 m at 1.77 g/t gold, including 2.5 m @ 5.38 g/t gold. These zones are open down dip and along strike and warrant follow-up drilling along the entire 1.5 km extent of the Takhilt structure.

               

Hole ID

T.D.
(m)

Az
(°)

Dip
(°)

Easting
(UTM, m)

Northing
(UTM, m)

Elev (m)

Intercept ≥0.1 g/t Au or ≥0.1 % Cu*
From (m) To (m) Width (m)≈ Au g/t Cu %

TK-01
Takhilt
zone

603.00

360

-50

486081

5266207

1847

46.85
151.75
184.50
194.75
241.00
328.35
341.70
378.50
573.65

51.40
169.50
190.50
203.75
246.70
332.70
344.70
386.10
577.20

4.55
17.75
6.00
9.00
5.70
4.35
3.00
7.60
3.60

0.10
0.13
0.12
0.18
0.11
0.20
0.10
0.54
0.10




0.10
0.12

0.23

TK-02
Takhilt
zone

400.65

0

-90

486663

5267002

1811

No significant result

TK-03
Takhilt
zone

306.00

165

-50

486598

5266560

1799

No significant result

TK-04
Takhilt
zone

204.00

180

-50

486720

5266244

1794

59.10
98.75

64.10
99.60

5.00
0.85

0.16
0.68

 

TK-05
Takhilt
zone

128.00

360

-50

486729

5266096

1796

16.30

31.80
119.00

24.35

35.50
120.90

8.05
Incl. 2.5 m
3.70
1.90

1.77
5.38
0.14
0.22

 

OT-01
Ovoot
zone

788.70

330

-80

488030

5255293

2136

692.10

693.70

1.60

0.12

 

OT-02
Ovoot
zone

600.00

280

-65

489908

5254924

2130

74.50

76.05

1.55

 

0.11

 

 

 

 

 

 

 

 

 

 

 

 

Total

3,030.35

 

 

 

 

 

 

 

 

 

 

*Assay by Actlabs Asia (Ulaanbaatar) for Au by fire assay and hand-held Delta XRF analyzer for Cu
≈The width stated is actual drill core length. True width is likely between and 50% and 100% of drill core length, but additional drilling is required to determine true width

Takhilt is a copper-gold system including skarn and intrusion-hosted mineralization situated in the northern region of the Chandman-Yol project. The zone, identified by geology, magnetics and IP-Resistivity, is of substantial size, being of the order of 3 km long and 1 km wide.  Previous work has identified robust copper anomalies in soil and gold values of up to 30 g/t in rock chip samples.

This program represents the first time that Takhilt had been drill-tested, with five holes completed. All drilling was targeted on specific IP-Resistivity features on only two geophysics profiles. Drilling encountered variably altered volcaniclastic flow rocks and granite-granodiorite-diorite system intrusive rocks which hosted many of the gold and copper intersections. The granodiorite is known to be extensive across the target area. Some of the more prospective gold rock sample zones are situated between IP profiles and have not yet been drilled. Based on the recent results at Takhilt, further drilling is warranted to follow gold-dominant intercepts both along strike and down dip. A second phase of drilling would target potentially shallow resources along the southern edge of the IP domain, in contact with the copper-gold bearing granite system, a compelling target that is more than 1 km long.

In the Ovoot zone 11 km south of Takhilt two holes were drilled, 1.8 km apart, to test two concealed but coincident IP and magnetic anomalies. Both holes encountered only low-level gold and copper anomalies. Further drilling is warranted at Ovoot, though of lesser priority than Takhilt, to test areas of coincident geochemical and IP-Magnetic anomalies. The Ovoot structure is large - 2+ km long, 2+ km wide - and cannot be considered adequately tested with only two wide-spaced reconnaissance holes.

In addition, the Company remains encouraged on testing some of the deeper IP targets within the KY copper-gold porphyry intrusion, the main mineralized system on the project, which was last drilled in 2011 and remains a top priority. Chandman-Yol is a target-rich land package with much drill testing remaining to be done.

About Altan Rio
Altan Rio, founded in 2007, is based in Vancouver BC, Canada. Using innovative exploration targeting techniques and leveraging long-term in-country experience, the company explores large-scale gold and copper projects in Mongolia, one of the world's most prospective mineral regions. The Company's license holdings in Mongolia, which total more than 153,310 hectares (378,873 acres), contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.

Competent Person Statement
J. Kelly Cluer, 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 Chandman-Yol Project.

On behalf of Altan Rio Minerals Limited,

"Evan Jones"

Evan Jones
President & CEO

For more information please contact:


This press release may contain forward looking statements including those describing Altan Rio'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 Rio 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.  Takhilt drill hole location map showing magnetics draped over geology, geochemical and geophysical anomalies and rock sample gold results. A prospective target that requires further drilling is present in the area of the words "Copper-Gold bearing granite system". (CNW Group/Altan Rio Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20130118_C6859_PHOTO_EN_22680.jpg

SOURCE: Altan Rio Minerals Limited

For further information:

Kelly Earle
Corporate Communications Manager
Altan Rio Minerals Limited
Tel: +1 604 639 5899 ext. 220
Email: info@altanrio.com
Web: www.altanrio.com