Florence Lake

Commodities
Nickel, copper, PGE

Target
Komatiite-hosted massive sulphide

Location
Labrador, Canada; helicopter accessible

Property
100% Altius-owned; 1,250 Ha

Highlights

  • The project is centered above the north-east trending Baikie sub-belt of the circa 3.0 Ga Archean Florence Lake greenstone belt (FLGB).
  • Several surface nickel sulphide mineral occurrences, with elevated Cu, Co and PGE contents, are located on the project; hosted dominantly by belts of variably altered and locally serpentinized ultramafic rocks, including komatiitic flows, interlayered with mafic volcanics and sulphidic pelitic sediments.
  • Five ultramafic-mafic belts have been mapped by the Geological Survey of Newfoundland in the project area with individual belts up to 25 meters wide and 8 km long.
  • Exploration work on the FLGB, initiated in the late 1950s, has been intermittent to present day; comprising a variety of piecemeal airborne, ground and borehole geophysical surveys (magnetics, EM, IP), mapping, geochemistry and drilling (~ 6,100 m of total drill meterage in 52 diamond drill holes - majority of drill holes < 150 m).
  • The Baikie showing is the most significant Ni-Cu-Co (± PGE) sulphide occurrence recognized on the project thus far, and subsequently has been the focus of historic exploration work. Historic grab samples from the showing assayed up to 9.22% Ni, 0.49% Cu, 0.23% Co, and 1718 ppb Pd + Pt, and drill results of 2.2% Ni over 11.32 m from FLK-92-02.
  • Sulphide mineralization at Baikie, hosted by ultramafics and mafic volcanics, is characterized by “shoots or channels” of disseminated, semi-massive and massive pyrrhotite, pentlandite and minor chalcopyrite, and the continuity was proven over 110 metres of strike length and to a vertical depth of at least 150 metres but remains open at depth.

Contact

Chad Wells, VP Business Development (cwells@altiusminerals.com)

QP Statement

Roderick Smith, M.Sc., P.Geo., Chief Geologist for Altius, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this project summary.