VANCOUVER, June 22, 2017 /CNW/ - ALTAIR RESOURCES INC.
("Altair" or the "Company") (TSXV: AVX; Germany FRA: 90A;
ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. Harold (Roy) Shipes is pleased to announce
addition of 77 unpatented mining claims comprising 1,540 acres to
the Pan American Mine, Comet Mining District, Lincoln County, Nevada, USA. The staking of
these claims more than doubles the Altair holding in the area, and
protects the mine from encroachment while possible extensions are
explored.
The Pan American Mine is a fully developed room and pillar mine
previously and lastly operated by Bunker Hill Mining at a rate of
1500 tons per day. Output from the mine was processed in the
Caselton Mill, 16 miles from the mine, averaging 2.7% zinc, 1.8%
lead, 1.6 ounces of silver per ton and 8.6% manganese. Bunker
Hill records indicate an historical resource of 1.7 million tons,
of which 732,000 tons were developed for mining. Workings are
currently flooded. Permitting of mine dewatering and mine
planning with a view to permitting re-start of mining will commence
immediately. The reader is cautioned that there are no
current reserves or resources on the property under National
Instrument 43-101. Dewatering and resampling of the mine
mineralization and broken rock will be required to establish a
resource and there can be no assurance that when established that
such resource will be economically recoverable. This historic
estimate was prepared by Bunker Hill and was completed in 1978/1979
and there was limited activity after the preparation of this
historic estimate. There has not been a Preliminary Economic
Evaluation or feasibility conducted on the project and a qualified
person has not done sufficient work to classify the historical
estimate as current mineral resources or mineral reserves; and the
issuer is not treating the historical estimate as current mineral
resources or mineral reserves.
Rehabilitation and permitting activities have begun on the
recently purchased Caselton Concentrator mentioned above, located
16 miles from the Pan American Mine, where the Pan American
material was trucked for processing by Bunker Hill. The plant hosts
a three stage mill for the flotation of zinc and lead/silver
concentrates. It includes two stage closed circuit crushing, three
grinding mills with closed circuit classification and three circuit
flotation to produce both zinc and lead/silver concentrates
(including thickening and filtration). The mill has all required
infrastructure for operations, including electric power, water,
warehouses and shops. It was last operated in 1979 by Bunker Hill
with an average throughput of 1500 tpd. The mill has a nominal
capacity of 2000 tpd. Design and permitting of a new tailings
dam will also begin immediately.
In addition, the Company recently acquired an Exploration Lease
and Option to Purchase the Prince Mine located one mile from the
concentrator (News Release 5/25/17). The Prince Mine produced for
over fifty years and still hosts significant mineralization, some
of which has not yet been developed following discovery by
exploration two years ago. Altair Mining preserved all drill
cuttings from that program for further evaluation, and plans
sufficient additional drilling this year with the aim to report a
current resource supported by a NI 43-101 report on the
project.
The technical information In this release has been reviewed and
approved by Dr. Stewart A. Jackson,
PGeo., a Qualified Person and Technical Advisor to the Company.
Altair anticipates that the Prince and Pan Am Mines will be
instrumental in the future development of the Company to achieve
its objective of becoming a serious zinc producer in the shortest
possible time.
To learn more about Altair, please visit
http://altairresources.com.
ON BEHALF OF THE BOARD,
"Harold Roy Shipes"
Harold Roy Shipes
President and 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.
SOURCE Altair Resources
