Altius

Lynx Diamond Project (Manitoba, Canada)

OVERVIEW

  • In early 2017 Altius acquired a 100% interest in the Lynx Project from a consortium of landowners.
  • Represents a new discovery of diamonds in Manitoba, the first in the province.
  • The geology of the project presents a unique and unconventional diamondiferous occurrence, defined as extensive volcaniclastic units in an Archean greenstone belt.
  • Multiple diamondiferous units identified.
  • At the Eastern Bay zone, a total of 1,149 micro-diamonds in the +0.106 mm to +0.850 mm size fraction were recovered from 11 samples collectively totaling 176 kg. Eight of the diamonds are considered macros with a dimension of at least 0.5 mm, with the largest stone having a long axis of 1.42 mm.
  • Descriptions for all stones larger than 0.3 mm (42 micro-diamonds) indicate that 24% of the stones are white/colourless and 45% are off-white while 17% are octahedral.
  • Mineral exploration licenses cover 60,816 ha, with an additional 60,268 ha of mineral exploration licenses under application.
  • Three additional rock samples collected at Eastern Bay in early October returned micro-diamond counts ranging from 115 to 198. Additionally, 67 micro-diamonds were returned from an outcrop located inland approximately 1.4 km southeast of Eastern Bay (sample 11426).
  • SRK Consulting has been engaged to provide support and complete a NI 43-101 technical report for the project, which is expected to be delivered in early 2018.
  • The Company will continue to assess the potential of this new discovery over the coming weeks with indicator mineral abundance and composition studies, as well as petrography. Planning is also underway for an airborne magnetic survey and potential diamond drilling / mini-bulk sampling for the purposes of recovering possible macro-diamonds.
  • Altius is pleased to announce that it has entered into a landmark exploration agreement with the Bunibonibee Cree Nation on February 16th, 2018. Click here to view the news release.

RESULTS

During June-July 2017, Altius collected 23 outcrop channel and grab samples (sixteen kilograms each) from various parts of the Project and submitted these for micro-diamond analysis (“MiDA”) (refer to map 1). All 11 of the samples collected from the Eastern Bay zone were diamondiferous – yielding between 34 and 303 micro-diamonds per sample (note that grab and channel samples reported here are selective and may not be representative of the mineralization on this property).

From these 11 Eastern Bay zone samples a total of 1,149 micro-diamonds in the +0.106 mm to +0.850 mm size fraction were recovered from a total of 176 kg of outcrop sample material. Eight of the diamonds are considered macros with a dimension of at least 0.5 mm, with the largest stone having a long axis of 1.42 mm. Descriptions for all stones larger than 0.3 mm indicate that 24% of the stones are white/colourless and 45% are off-white while 17% are octahedral. Summarized data for diamond bearing samples, including follow-up samples collected in October, is shown in Table 1; full sample summary shown in Table 2.

REGIONAL AND PROPERTY SCALE GEOLOGY

The following excerpt is taken from Anderson, 2016 (http://www.manitoba.ca/iem/geo/field/roa16pdfs/GS-2.pdf).

“On the basis of field characteristics and whole-rock geochemistry, alkaline rocks in the Oxford Lake–Knee Lake greenstone belt are defined herein to include six distinct types: 1) syenitic plutons (Cinder Lake alkaline intrusive complex); 2) carbonatite dikes; 3) lamprophyre dikes; 4) shoshonitic lava flows, cryptodomes and subvolcanic sills; 5) ultramafic volcanic conglomerate and sandstone; and 6) ultramafic volcaniclastic rocks.

Ultramafic volcanic conglomerate and sandstone, exposed in the south basin of Knee Lake, are some of the most distinctive rocks in the entire Oxford Lake– Knee Lake belt, primarily due to their bright olive-green, sculpted weathered surfaces. These rocks belong to the ‘ultramafic facies association’ of Anderson et al. (2015b) and are exposed in several locations, but the best exposures are found in two small bays in the southeast corner of the lake. Despite a spatial association with major high-strain zones, the rocks at these localities are characterized by spectacular preservation of primary sedimentary features. The ultramafic volcanic conglomerate is polymictic and forms poorly sorted to unsorted beds that range up to more than 10 m in thickness (see Photo 1).

Of particular note in the volcanic conglomerate is a distinct population of near-spherical pebbles, which consist of a lithic core of highly variable texture and composition mantled by a rim of very fine grained, dark green lithic material. These composite particles vary in abundance from bed to bed but locally account for close to 5% of the clast population and range up to several centimetres in diameter (See Photo 2). Similar particles, referred to as ‘pelletal lapilli’, are common features of diatreme pipes formed by high-intensity explosive eruptions of volatile charged melts, including kimberlites and other types of alkaline volcanic rocks. Recent work on pelletal lapilli from kimberlite pipes in South Africa indicates that these particles form when volatile-rich melts are emplaced into unconsolidated volcaniclastic material near the root zones of diatreme pipes and undergo intensive degassing, leading to a process referred to as ‘fluidized spray granulation’ (Gernon et al., 2012). Coupled with the unusual chemistry of the ultramafic volcanic conglomerate, the pelletal lapilli may indicate an associated alkaline volcanic centre that included one or more diatreme pipes.”

REFERENCES

Anderson, S.D. 2016: Alkaline rocks at Oxford Lake and Knee Lake, northwestern Superior province, Manitoba (NTS 53L13, 14, 15): preliminary results of new bedrock mapping and lithogeochemistry; in Report of Activities 2016, Manitoba Growth, Enterprise and Trade, Manitoba Geological Survey, p. 16–27.

QA/QC

Sample collection was done under the supervision of Altius personnel and shipped in sealed containers. Caustic fusion/chemical processing, diamond observation, weighing, description and photography (MiDA) was performed by SRC in Saskatoon, Saskatchewan, an independent mineral process laboratory facility. SRC provided descriptions for all stones larger than 0.3 mm. This method is ISO/IEC 7025:2005 Accredited by the Standards Council of Canada.

Lawrence Winter, Ph.D., P.Geo., Vice‐President of Exploration for Altius, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this material. Field work and sampling was supervised by Jeff Morgan, B.Sc., P.Geo., Exploration Manager for Altius.

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