Wing Pond Gold Project
The Wing Pond gold property comprises 31 map-staked claims covering 775 hectares approximately 35 km northeast of Gander in central Newfoundland. The property is situated within an area of anomalous gold-arsenic-antimony values identified from a government regional lake sediment survey and is host to gold mineralization grading up to 12.2 g/t Au from grab samples and 9.8 g /t Au over 1.0m from channel samples. Gold mineralization has been identified over a strike length of 500m on the property, and recently constructed logging roads provide direct access to the main showings.
Limited trenching/stripping by Altius in the fall of 2010 exposed mineralized quartz breccia veins up to at least 3m wide and 30m long at the main showing, where gold mineralization is associated with variable pyrite, stibnite and galena, along with minor sphalerite and chalcopyrite. Just north of the main showing, a newly exposed quartz breccia vein at least 45m long and up to at least 1m wide returned values up to 1.49 g/t Au from grab samples and 0.92 g/t Au over 1.05m from channel samples.
Additional trenching along the 500m long trend of mineralization is planned for 2012. Targets on the property have yet to be drill tested.