Allied Nevada Drills 233 Meters Grading 2.02 g/t Gold Equivalent1
in the Vortex Zone at Hycroft
November 23, 2010 – Reno, Nevada – Allied Nevada Gold Corp. (“Allied Nevada” or the “Company”) (TSX: ANV; NYSE-A: ANV) is pleased to provide an update to recent Vortex Zone drilling, including highlights from two newly drilled holes at its wholly owned Hycroft mine located near Winnemucca, Nevada. Highlights from the these holes include 233 meters grading 2.02 g/t AuEq2 (0.73 g/t Au and 67 g/t Ag), and 192 meters grading 0.93 g/t AuEq (0.53 g/t Au and 20.89 g/t Ag).
“We continue to see impressively long runs of mineralization with higher grade silver values in the Vortex Zone,” comments Dave Flint, Vice President Exploration for Allied Nevada. “As we near the end of the successful 2010 exploration program, we are confident that the data collected through this infill program at Vortex will show a positive impact to the year-end resource estimate.”
The Vortex Zone currently has been defined by exploration drilling over a 950 by 850 meter area, and with mineralization encountered to depths of 650 meters. A higher grade zone of mineralization within the Vortex Zone has been intersected in 30 holes over a strike length of 600 meters and a vertical range of 400 meters. The thickness of the higher grade zone, which occurs above the East Fault, is as much as 100 meters. Vortex gold and silver mineralization is associated with a hydrothermal breccia and the silver mineralization is primarily contained within the mineral pyrargyrite. Drilling at the Vortex Zone indicates that the mineralization is contiguous with both the Brimstone and Central deposits. The Vortex Zone mineralization remains largely open along strike to the north, south, west and at depth.
Core hole H10D-3896 (233 meters grading 2.02 g/t AuEq) was part of the recently completed definition drill program at Vortex. Core hole H10D-3503 is a step-out hole drilled in northeast region of the Vortex area. Mineralization encountered in this drillhole (192.3 meters grading 0.93 g/t AuEq), remains open to the north and west. Follow up drilling will be conducted during 2010 and the first quarter of 2011.
Year to date 366 infill and exploration holes totaling 93,200 meters have been drilled. The Vortex Zone infill program for 2010 was completed during the first half of November. The remainder of the 2010 drill program for Hycroft will focus on infill drilling of the Central and Brimstone pits, step out drilling along the northern portion of Vortex and west of the Central Pit, and property wide exploration. A total of 25-30 additional holes are planned for the remainder of 2010.
Allied Nevada maintains a strict quality control program at all of its projects. Drill samples are picked up on site and validated by Allied Nevada and Scott E. Wilson Consulting, Inc. geologists to be shipped to ALS Chemex's assaying laboratories in Reno, Nevada. Gold and silver analyses are conducted on 1-assay ton prepped samples with gold and silver determined using industry standard fire assay methods with a gravimetric finish.
