Seal Lake Copper Project (NL, Canada)
The 25,535 ha Seal Lake Copper project, located in central Labrador, is underlain by sedimentary, volcanic and mafic intrusive rocks of the Mesoproterozoic Seal Lake Group. The entire Seal Lake Group hosts over 250 documented copper occurrences. The style of copper mineralization and geological setting suggests a favorable environment for hosting sediment-hosted copper deposits. The project comprises 1,021 map staked claims and is 100% held by Altius.
Observations from localities within the Seal Lake Group demonstrate the validity of the sediment-hosted copper model whereby the most significant copper concentrations are within the grey beds. Copper mineralization is epigenetic and likely associated with deformation during the Grenville Orogeny. The mineralization occurs as veinlets and disseminations in close association with quartz-carbonate vein systems, lithological contacts, and zones of structural weakening associated with folding and shearing.
Copper mineralization occurs in two settings: 1) Native copper-bearing quartz-carbonate veins within red slate and/or strongly hematized basalt units, and 2) Chalcocite ± bornite ± chalcopyrite stringers and quartz-carbonate veins grey, green to black shales, arenite and phyllite (reduced “grey beds”) and locally in diabase and basalt. The grey bed hosted copper mineralization, typical of stratiform sediment-hosted copper (SSC) deposits, constitutes Altius’ primary target. The analogue for such deposits includes those of the Central African Copperbelt.
Significant intercepts of mineralized grey beds from historic diamond drilling on the property are summarized below.
|Drill Hole||From (m)||To (m)||Width (m)||Cu %||Ag g/t||Company (year)|
|SL-11-10||90.6||98.5||7.9||1.76||56.2||Playfair Mining PLC (2011)|
(click company name to view company report)
Samples collected by Altius in 2015 confirmed the presence of significant copper-silver mineralization throughout the Seal Lake area with grab samples of mineralized (chalcocite-bornite), reduced grey beds yielding up to 5.33% Cu and 55.6 g/t Ag. Channel samples of mineralized grey beds yielded results similar to those reported in the historic drilling with up to 1.81% Cu and 32.7 g/t Ag over 2.5 m.
- Large land position in an underexplored Mesoproterozoic supracrustal sequence with well documented SSC-type copper occurrences.
- Antiquated exploration campaigns at Seal Lake sought a different deposit model (small, very high grade) as evidenced by shallow drilling and short step outs; more recent programs lacked any sustained effort or were targeting other commodities.
- Compilation of historic work and a preliminary field program has identified several target areas with the potential to host a significant copper resource that have not been adequately tested by previous exploration programs.
Carol Seymour, P.Geo., Senior Geologist is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.