Central NL Regional Gold (NL, Canada)
In March 2017, Antler Gold optioned six prospective gold projects in Central NL from Altius controlling 90 km of a regional structural corridor with recently reemphasized significance to gold mineralization. The structure hosts gold deposits and prospects from Cape Ray to Moosehead, including newly defined resources at Marathon’s Valentine Lake camp (1.4 million oz. (M&I) at 1.91 g/t Au and 766,500 oz. (Inferred) at 2.24 g/t Au).
In consideration Altius is to receive an additional 980,000 Antler common shares (increasing Altius's total shareholding in Antler to 5,480,000 shares or 19.9%) while retaining 2% NSR royalties over the new projects. Antler has committed to fund a minimum of $300,000 in exploration expenditures on the additional projects within the first year.
The regional land package is focused on the structural contact between Silurian sedimentary rocks and Cambro-Ordovican or older basement rocks, both of which have been demonstrated recently to host high grade gold mineralization along the regional structure.
These new projects also contain known prospects and historic indications of gold mineralization that warrant further follow up:
• The Crystal Lake project hosts 29 km of newly recognized extensions of the Silurian Rogerson’s Lake Conglomerate along the mapped contact with the Crippleback Lake intrusion, a
similar geological scenario to that at Valentine Lake. There is also a historic report of high values of gold in lake sediment anomalies on the project which has not been
• The Island K project contains a reported quartz vein where historic grab samples assayed 24 g/t Au and 140 g/t Ag along the Red Indian Line, a splay off the target structure
• The Victoria Lake project includes 3 km of a significant structural splay (the Red Indian Line) which has seen limited gold exploration
• The Victoria River project includes 9.5 km of the Victoria Lake Shear Zone and the parallel Red Indian Line and has seen only cursory gold exploration.
• The Intersection Project includes 39 km of the Cape Ray Fault and with historic reported values up to 7.57 g/t Au in outcrop grab samples and boulders to 25 g/t Au.
• The Cape Ray project contains 15 km of the Cape Ray Fault hosts significant occurrences from historic reports and include grab samples of quartz veins assaying up to 57 g/t Au, panned stream sediments assaying up to 71 g/t Au and gold in HMC till anomalies and outlined soil anomalies.
Bob Patey, P.Geo., Geologist 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 the publication of this material. References to historic information in this release have not been independently verified.