Florence Lake Ni-Cu-PGE Project (NL, Canada)
- High-grade Ni values from historic, shallow drilling
No drilling, modern geophysical survey, or significant work in 20+ years
The property comprises 109 map-staked claims covering 2,725 hectares, and is held 100% by Altius Resources Inc.
Located about 75 km SW of the coastal community of Hopedale in central Labrador (15 km from tide water of Ugjoktok Bay), and ~180 km SSE of Voisey’s Bay.
The property is underlain by Archean mafic to ultramafic rocks of the Florence Lake greenstone belt, potential host to komatiite associated Ni-Cu ± PGE deposits, plus VMS and mesothermal lode gold deposits.
The property hosts several Ni showings, including the Baikie Showing, were diamond drilling has returned up to 2.19% Ni, 0.22% Cu, 0.16% Co over 11.32 m (grab samples grading up to 9.22% Ni, 0.49% Cu, 0.23% Co, and 1718 ppb Pd+Pt).
Other occurrences include the DCP Showing (0.68% Ni over 2.23 m from channels) and the Boomerang Showing (2.10% Ni and 0.14% Cu from grabs).
Historic work by Brinex (1960-63) and Falconbridge/Tapestry (1990-97) includes rock/channel sampling, line cutting, ground geophysical surveys (Mag/VLF, HLEM, MaxMin, IP, and transient EM), a 1220 line-kilometre airborne EM survey, diamond drilling (45 ddh totaling ~6250 metres), and a borehole TEM survey (7 drill holes).
Only 6 of the historic drill holes tested below 150 metres vertical depth, and only one of which was greater than 200 metres vertical depth (279.26m).
Continuity of the mineralized UM unit hosting the Baikie mineralization has been proven over 110 metres of strike length and to a vertical depth of at least 150 metres. The zone remains open to the west and down dip.
Ni-Cu ± PGE mineralization on the Florence Lake Property is thought to represent a Kambalda-type, peridotite-hosted deposit model. Sulphide bearing sediments (sulphur source) are widespread within the Florence Lake area and are closely associated with the ultramafic layers.
Altius is seeking a partner to advance the Florence Lake Ni-Cu-PGE project for the 2018 exploration season.
NOTE: All quoted assays are historic, non 43-101 compliant.
Jeff Morgan, P.Geo., is the qualified person, as defined by NI 43-101, who prepared the technical data presented here.