Notakwanon Uranium Project (NL, Canada)
Altius has maintained its mineral rights to the Notakwanon uranium project since 2006 because it has identified in excess of twenty (20) new uranium prospects on the property. The mineralization includes high grade uraninite representing a unique style of mineralization in Labrador.
Three of the discovered uranium prospects have generated assays of greater than 1% U3O8 while grab samples from one of the new high-grade prospects has yielded a highest assay of 3.49% U3O8 and a channel sample returned 0.48% U3O8 over 2.5 metres.
The property is underlain by Paleoproterozoic gneiss and Mesoproterozoic intrusive rocks and the new prospects appear to be shear zone-hosted while resembling basement-hosted uranium mineralization as in the Athabasca Basin in Saskatchewan, Canada.
Altius is seeking a partner for this drill ready project.
Lawrence Winter, P.Geo., Vice-President Exploration, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.