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The Taylor Brook Nickel Project in western Newfoundland features the high grade Layden Prospect which yields an average grade of 5.38% nickel, 1.05% copper, 0.10% cobalt, 112 ppb platinum, 232 ppb palladium and 416 gold from eleven grab samples.
This wholly-owned 185 square kilometer project hosts high grade nickel-copper-PGE mineralization where recent drilling by a third party under an option agreement revealed that four of five airborne EM conductors tested were due to separate occurrences of nickel-bearing sulphides. Total drilling on was 2626 m in 17 holes.
| Hole | from | To | Width (m) | Ni % | Cu% | Co% |
|---|---|---|---|---|---|---|
| 08TB-09 | 42.0 | 46.15 | 4.15 | 1.71 | 0.13 | 0.028 |
| including | 42.6 | 42.9 | 0.3 | 4.7 | 0.17 | 0.071 |
| including | 43.4 | 44.35 | 0.95 | 4.5 | 0.16 | 0.073 |
| 08TB-10 | 95.95 | 97.4 | 1.45 | 1.35 | 0.32 | 0.023 |
| 08TB-14 | 132.75 | 133.75 | 1 | 0.34 | 0.14 | 0.048 |
| and | 137.3 | 138.3 | 1 | 0.09 | 0.15 | 0.022 |
| 08TB-16 | 86.6 | 90.8 | 4.2 | 0.03 | 0.25 | 0.008 |
| including | 89.3 | 90.3 | 1 | 0.06 | 0.54 | 0.01 |
| 08TB-17 | 0 | 4.25 | 4.25 | 1.63 | 0.36 | 0.027 |
| including | 0.2 | 0.45 | 0.25 | 4.0 | 1.86 | 0.051 |
| including | 4.0 | 4.25 | 0.25 | 6.1 | 0.17 | 0.111 |
Table 3. Summary of significant intercepts from the 2008 drill program
The four zones of Ni-Cu-Co mineralization occur within an area exceeding 300 meters by 800 meters, and all four zones remain open for expansion and delineation. Based on the prior success of airborne EM in this area, Altius is planning a broader 2100 km airborne EM-Mag survey over the recently expanded claim block (the previous airborne survey was only with 148 line km). The Company will conduct ground truthing of any additional anomalies later this summer with the goal of identifying new prospects at surface.
Altius believes that this original prospect and the newly discovered zones of nickel mineralization may be indicative of a hitherto unrecognized belt with geological attributes that are broadly analogous to Manitoba's Thompson Nickel Belt.
Altius is seeking a partner to advance this wholly-owned project.
