Altius

Sail Pond Cu-Ag-Pb-Zn Property (NL, Canada)

The Sail Pond property features high-grade copper, zinc, lead and silver mineralization within a quartz-calcite vein system and dissolution breccias [refer to South and North Trend rock photos].

The mineralization is coincident to the White Arm Window anticline and westward directed thrust faults. The host lithology is a silica (± sericite) altered, recrystallized, Early to Mid Ordovician-age dolomite [refer to the Sail Pond regional map].

Mineralization has been identified over two trends (South and North), within a span of 10 km. Altius collected several rock grab samples in late 2016 from these trends and the results are shown in Tables 1 and 2.

There has been no modern geophysical surveys or drilling in the area of the South and North trends, and the mineralization remains wide open for expansion and discovery. Potential analogues are the Kipushi Deposit in the DRC, and the Storm Copper project in Nunavut.

The newly acquired 18,225 Ha property is located on Newfoundland’s Great Northern Peninsula. The property is easily accessible by a series of roads that transverse the center of the property.

For 2017, Altius is planning for an airborne magnetics and electromagnetic survey, followed by a property-scale soil survey in conjunction with prospecting, mapping, and trenching.

Table 1: Altius’ grab samples collected within the South Trend.

Sample No. Ag (ppm) Ag (g/t) Cu (ppm) Cu (%) Pb (ppm) Pb (%) Zn (ppm) Zn (%) Au (ppb)
8329 >6.0 390 >10000 5.24 >2200 7.6 >2200 2.32 304
8330 >6.0 114 4301 --- >2200 0.84 >2200 1.02 15
8331 >6.0 139 4867 --- >2200 0.38 >2200 1.29 28
8332 >6.0 421 >10000 2.18 >2200 4.44 >2200 2.20 55
8333 >6.0 557 >10000 2.33 >2200 4.23 >2200 3.08 530

Table 2: Altius’ grab samples collected within the North Trend.

Sample No. Ag (ppm) Ag (g/t) Cu (ppm) Cu (%) Pb (ppm) Pb (%) Zn (ppm) Zn (%) Au (ppb)
8335 >6.0 30 872 --- 240 --- 159 --- <5
8336 >6.0 127 5565 --- >2200 0.30 1020 --- 8
8337 >6.0 516 >10000 3.35 >2200 0.84 >2200 0.45 103

Roderick Smith, P.Geo., Project Geologist, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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