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St. George's Potash
In early 2008 Altius assembled a large land package covering several known
potash occurrences within the St. Georges Basin in southwestern Newfoundland.
The St. Georges project consists of 1,372 claims (34,300 hectares) to cover four
primary target areas for potash deposits. These targets feature historical
potash drill intercepts, gravity low anomalies and salt springs that are
underlain by a relatively unexplored evaporite sequence. The St. George's Basin
is geologically analogous to the Moncton sub-basin in nearby New Brunswick that
hosts significant potash production.
The 2008/09 program was funded by *Sprott Resources and involved a comprehensive
evaluation and compilation of existing data generated from limited petroleum and
salt exploration in the basin. Of particular note was better definition of a
significant gravity anomaly at Fischell's Brook that is being assessed as a
potential drill target in 2010. Thorough review of the archived drill core also
reaffirmed the presence of significant potash intercepts in the region.
The St. Georges Sub-basin is considered prospective but under-explored for
potash deposits. The 2008-2009 exploration program has indentified priority
target areas for the next phase of exploration.
*relinquished their earn in option on the project in December 2009