Natashquan Ni-Cu-PGE Project
Altius' has been advancing the Natashquan nickel-copper-cobalt-platinum-palladium project in southern Labrador, since 2008 following upon historically identified platinum mineralization reported by the Newfoundland & Labrador Geological Survey.
In July 2013, Altius entered into a joint venture (“JV”) agreement with Anglo American with respect to the project allowing Anglo the option to earn a 66% interest in the project, through staged expenditures of $20 million over a five year period, including an initial spend of $650,000 in 2013. Upon declaring a JV, Altius will also be granted a 1% net smelter returns (NSR) royalty. Anglo American will be the operator during the earn-in phase and the initial manager to the JV. Plans are in progress to commence a multifaceted field program in July.
Multiple seasons of recce prospecting programs by Altius at Natashquan have resulted in the discovery of several high grade copper-nickel-platinum occurrences associated with EM conductors and magnetic anomalies generated by an AeroTEM II/Magnetic survey flown over the property in 2008.
Some exploration highlights include: - 2.68g/t combined Pt, Pd and Au (grab) - 6.14% Cu and 388ppb Pt - 1.04g/t combined Pt, Pd, Au and 1.06% Cu over 1.30m (channel) - 1.04 combined Pt, Pd, Au and 3.92% Cu over 1.00m (channel) - 2.49g/t combined Pt, Pd and Au and 1.07% Ni (grab) - several grab samples >7% Cu - soil samples up to 26,000ppb Cu
The Natashquan Property represents a new Ni-Cu-Co-PGE discovery in a frontier area of Labrador.
Lawrence Winter, Ph.D., P.Geo., Vice‐President of Exploration for Altius, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein and has reviewed and approved this release. Jeff Morgan, B.Sc., P.Geo., is the qualified person, as defined by NI 43-101, responsible for project management and quality assurance/quality control at Natashquan. Complete technical details for this program including analytical procedures are described via the following link - QA/QC.