Altius

Taylor Brook Nickel Property (NL, Canada)

The wholly-owned Taylor Brook Ni-Cu-Co-PGE project is located approximately 60 km NNE of the town of Deer Lake in western Newfoundland, and is host to the high grade, road accessible Layden Prospect. Eleven separate grab samples from the Layden Prospect returned average values of 5.4% Ni, 1.05% Cu, 0.10% Co, 112 ppb Pt, 232 ppb Pd and 416 ppb Au (individual assays of up to 7.9% Ni).

Disseminated to semi-massive/massive sulphide mineralization (pyrrhotite, pentlandite, chalcopyrite, and pyrite) occurs on the property in association with mafic to ultramafic host rocks over an area exceeding 800 x 300 metres in size. The mineralized zones are associated with coincident magnetic anomalies/EM conductors identified from helicopter-borne AeroTEM II EM-MAG surveys carried out in 2006 (and expanded in 2010).

Seventeen shallow diamond drill holes (totaling 2,636 metres) tested four of these anomalies, and intersected mineralization grading up to 1.7% Ni, 0.13% Cu and 0.028% Co over 4.15 metres, including 4.5% Ni, 0.16% Cu and 0.073% Co over 0.95 metres. A fifth coincident airborne magnetic/EM anomaly remains to be drill tested. Highlights from the 2008 diamond drilling program are provided in the following table.

Hole From To Width (m) Ni % Cu% Co%
08TB-09 42.00 46.15 4.15 1.71 0.13 0.028
including 42.60 42.90 0.30 4.70 0.17 0.071
including 43.40 44.35 0.95 4.50 0.16 0.073
08TB-10 95.95 97.40 1.45 1.35 0.32 0.023
08TB-14 132.75 133.75 1.00 0.34 0.14 0.048
and 137.30 138.30 1.00 0.09 0.15 0.022
08TB-16 86.60 90.80 4.20 0.03 0.25 0.008
including 89.30 90.30 1.00 0.06 0.54 0.010
08TB-17 0.00 4.25 4.25 1.63 0.36 0.027
including 0.20 0.45 0.25 4.00 1.86 0.051
including 4.00 4.25 0.25 6.10 0.17 0.111

Recent re-interpretation of data from a Crone Pulse EM downhole survey conducted on two of the 2008 diamond drill holes identified a small but high quality off hole conductor, suggestive of well connected to semi-massive sulphides, in one of the holes. It was recommended that this conductor be drill tested, and that a downhole Pulse EM survey be completed on the majority of the other 2008 diamond drill holes as well. Re-interpretation of the AeroTEM II geophysical survey data also identified numerous other, mainly single line anomalies that were also recommended for follow-up ground truthing and prospecting.

Altius believes that the geologic setting and style of mineralization at the Taylor Brook property is broadly analogous to Manitoba’s Thompson Ni Belt, and is currently seeking a partner to advance this very accessible, underexplored project. For further information please contact Chad Wells at cwells@altiusminerals.com.

Jeff Morgan, P.Geo., Exploration Manager, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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