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VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) -- ALTAIR RESOURCES INC. (“ALTAIR” or the “Company”) (TSX-V: AVX; OTC: AAEEF; Frankfurt: “90AA”; ISIN: CA02137W2004; WKN: WKN A2ALMP) is pleased to announce the appointment of Dorian L. (Dusty) Nicol as Vice President of Exploration. Mr. Nicol is an experienced professional geologist with an excellent track record in the mining industry. Mr. Nicol has a B.Sc. degree in Earth Science from M.I.T. and an M.A. degree in geology from Indiana University. Dusty has over 45 years of world-wide experience in gold exploration and mining. He has designed and managed successful gold exploration programs throughout North and South America, Africa, Russia and the Former Soviet Union, and Papua New Guinea. He has also designed and managed generative gold exploration programs in Africa and Europe. At Jerritt Canyon, Nevada, he designed and managed the exploration program which discovered over 1.5 million ounces of gold at a discovery cost of about $18/ounce over a 5-year period. His exploration program at the Tulkubash oxide deposit, Kyrgyzstan, added over 600,000 ounces of gold to M&I Resource in the first year, at a discovery cost of $11.40/ounce.
His experience spans the spectrum of virtually every type of gold deposit in a variety of geologic settings. Dusty has also efficiently managed due diligence of gold projects at every stage of exploration, development, and production for investment funds and corporate acquisitions. In addition to his exploration experience, he has managed the construction, development, and operation of open pit and underground gold mines in Nevada and Mexico.
Dusty has held senior corporate positions on several publicly listed companies (TSX, TSX-V, ASX, AIM, and ASE), having served as a CEO / President, VP-Exploration, Technical Director, and Independent Director. Dusty speaks six languages fluently.
George S. Young, President and CEO, stated, "We are very pleased to welcome Dusty as our Vice President of Exploration to move our projects forward in expanding resources and enhancing our production profiles. He brings a rare combination of hands-on exploration experience and a long string of successful exploration programs, coupled with significant and relevant corporate development and management experience. We are excited to unleash his experience and insight onto our projects in West Africa and Central Asia to catapult them forward with his tremendous background of project advancement.”
Altair is also pleased to announce the appointment of Lawrence Roulston to its Advisory Board. Mr. Roulston has a geology background and nearly 40 years of diverse hands-on experience in the mining industry including management positions with juniors and larger companies as well as a US investment advisory firm. For several years he wrote a highly regarded industry newsletter and currently serves as a director of several other companies listed on the TSX Venture Exchange and the New York Stock Exchange.
George S. Young, President and CEO, stated, "We are very pleased to welcome Lawrence to our team. He brings a wealth of knowledge and experience in geological evaluation and market savvy, along with a host of financial and industry connections that will serve Altair well. His guidance and advice will help raise the profile of the Company and open doors to strategic relationships as we move forward with the acquisitions in Kazakhstan and with development in Burkina Faso.”
Altair is also pleased to announce that a lengthy due diligence report prepared by its counsel in Kazakhstan has been completed and the Company has discussed its findings with the Sellers of the properties. A number of issues have been discussed and are being addressed by the Sellers relating to the tenements and the permit status of the properties, as well as the governmental approvals that will be necessary for the transaction to close. Altair has sent to representatives of the Sellers a notice to proceed with the transaction subject to the resolution of such matters, and the Sellers are proceeding to provide more information and to take actions to address the issues.
About Altair Resources Inc.
Altair is an emerging mid-tier gold and precious metal company rapidly progressing toward production. Altair recently announced the signing of a binding agreement for the purchase of the Marbera 2 permits in Burkina Faso, hosting historic resources of over 1.3 million ounces of gold as shown by over 387,000 meters of drilling and 294,000 samples.
The company also recently announced an agreement for the acquisition of two gold-producing properties in Kazakhstan containing a total historic indicated resource of 947,900 ounces of gold, open pit and underground, and a total historic inferred resource of 892,600 oz of gold, open pit and underground, with current aggregate gold production at the two properties of approximately 21,000 ounces of gold per year from the oxide zones of each property. The in situ acquisition cost of these gold-producing assets is $58 per ounce.
Altair also has rights to acquire a 65 percent interest in the Simon gold and silver property located in the state of Nevada. A past producer, the Simon property presents an excellent opportunity for adding value, employing low-cost exploration activities to identify prime drilling sites in six anomalous zones previously identified with gold, silver and copper mineralization. The Simon property lies within the region that hosts the prolific Tonopah district, the Round Mountain gold mine and numerous other successful mining projects.
For further information:
George S. Young
Chairman, CEO, Altair Resources Inc. +1 (806) 886- 3317
Investor Relations, Altair Resources Inc. +1 (416) 274-3195
Media Relations, Altair Resources Inc. +1 (778) 434-2241
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This press release contains forward-looking statements with respect to the Company. By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements.
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