Vancouver, BC – September 10, 2012: Altair Ventures Incorporated (TSX-V: AVX; “Altair” or “the Company”) is pleased to announce the results of holes 12KG03 through 12KG08 from the Kena Gold Zone (“KGZ”) and holes 12GM01 and 12GM02 of the Gold Mountain Zone (“GMZ”), all located on its Kena Property in southeastern British Columbia.
Overall, results from the eight drill holes are in line with values expected from these zones, with wide intercepts containing consistent gold values. While the first hole at Gold Mountain, 12GM01, was planned to twin historic hole 01GM-03, which returned 1.87 g/t Au over 116.05 metres, all other holes were drilled as step-outs from the existing gold resource blocks and were designed to increase the current Kena property resource estimate (see Altair News Release dated June 25, 2012).
“A July 2012 research report by Natural Resource Holdings helps to put the Kena Gold deposit into a global context. According to the report, there are only 164 undeveloped gold deposits globally with over 1 million ounces of gold in all categories that are owned by non-major mining companies. Of these deposits, 52 are in Canada and 18 are in British Columbia. With the NI 43-101 report that was filed in May 2012, the Kena gold deposit is now part of this elite group of gold deposits.
Noteworthy is the fact that the average grade of all deposits over 1 million ounces globally is 0.66 g/t, which is in line with the grades at Kena,” stated Fayyaz Alimohamed, Altair’s President and CEO.
Altair previously released the results from the first 2 diamond drill holes (12KG01 and 12KG02) at the KGZ, which returned long intercepts of consistent gold mineralization containing shorter intervals of ‘bonanza’ grade values, including 32.9g/t Au over 2.95 metres (47.55m to 50.5m) in 12KG02. Significant results from the first two drill holes are tabled below (from Altair News Release dated August 20, 2012):
| Hole ID | From (m) | To (m) | Length (m) | Au (g/t) |
|---|---|---|---|---|
|
12KG01 includes: |
10.31
11.75 |
128.05
29.26 |
117.74
17.51 |
1.04
0.97 |
|
12KG02 includes: |
15.20
44.50 |
100.30
86.15 |
85.10
41.65 |
2.07
3.76 |
*Note: True widths of intercepts are unknown at this time. True widths may be less than core lengths reported.
Holes 12KG03 to 12KG08, also completed at the KGZ, were designed as step-outs from the first 2 holes. Hole 12KG06 was drilled outside of the mineralized zone but all other holes intersected wide zones of gold mineralization with grades that are in line with the current resource estimate – those being 0.77g/t Au in the Measured category, 0.60g/t Au in the Indicated category and 0.70g/t Au in the Inferred category (all at a 0.30g/t Au cut-off). As such, the new holes have the potential to expand upon the current resource. The six holes were drilled at step-outs of approximately 50, 100 and 150 metres west from holes 12KG01 and 12KG02. Drilling depths ranged from 150 to 185 metres.
Significant results from the new drill holes completed on the Kena Gold Zone are tabled below:
| Hole ID | From (m) | To (m) | Length (m) | Au (g/t) |
|---|---|---|---|---|
|
12KG03 |
6.09 | 77.97 | 71.88 | 0.53 |
|
12KG04 includes: |
4.88
82.85 |
137.47
90.87 |
132.59
8.02 |
0.42
1.52 |
|
12KG05 includes: |
3.05
14.33 |
154.53
42.68 |
151.48
28.35 |
0.61
1.06 |
|
12KG07 includes: |
20.15
20.15 |
95.47
41.08 |
75.32
20.93 |
0.64
0.88 |
|
12KG08 includes: |
3.00
32.20 |
154.84
55.58 |
151.84
23.38 |
0.58
0.89 |
*Note: True widths of intercepts are unknown at this time. True widths may be less than core lengths reported.
Significant results from the first two drill holes completed on the Gold Mountain Zone are tabled below:
| Hole ID | From (m) | To (m) | Length (m) | Au (g/t) |
|---|---|---|---|---|
|
12GM-01 includes: |
10.97
21.25 |
106.32
44.34 |
95.35
23.09 |
1.37
2.66 |
|
12GM-01 includes: |
100.80
137.50 |
156.97
150.88 |
56.17
13.38 |
0.55
0.74 |
*Note: True widths of intercepts are unknown at this time. True widths may be less than core lengths reported.
The first two holes completed on the Gold Mountain Zone returned significant widths of strong gold mineralization, highlighted by drill hole 12GM01 which intersected a 95.35 metre width averaging 1.37g/t Au.
Altair has now completed step-out drilling from the central zone at Gold Mountain, with nine more holes drilled along the zone to the southeast. These holes were interspersed over a distance of approximately 1,000 metres from holes 12GM01 and 12GM02, with an average 110 metre interval between holes. Core samples from these holes are now being analyzed, with results expected within the next 3 weeks.
“The results of these first step-out holes indicate how consistent the gold mineralization is on the Kena property. With continuity comes the capability to add ounces to the current resource,” stated Fayyaz Alimohamed, Altair’s President & CEO.
Altair is currently conducting surface sampling (soil and rock) and continued data compilation to define areas to expand upon the current gold resources. The second phase of the 2012 drill program will commence by early October.
Core samples are being shipped to Acme Laboratories in Vancouver, BC, where they are analyzed by a 36-element ICP-MS process, with elevated gold samples analyzed by a Fire Assay-AA or Gravimetric process. The Company follows a strict quality control protocol that includes the insertion of standards and blanks.
The Qualified Person for the Kena Property is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair Ventures Inc.
For further information please contact Justin Schroenn at (604) 780-1371, or [email protected].
ON BEHALF OF THE BOARD
“Fayyaz Alimohamed”
Fayyaz Alimohamed, President & CEO
Neither 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.
