Altius Minerals (ALS-V) has begun a diamond drilling program on its Robert’s Arm volcanogenic massive-sulphide (VMS) property in central Newfoundland.
At least two holes will test for extensions of the Bumble Bee Bight zone, where a previous intersection of 4.4% copper over a 4.4-metre core length remains open both along strike and downdip.
Under Newfoundland’s junior company exploration assistance program, an award of up to $100,000 will be applied against drilling at Robert’s Arm.
Inmet Mining (IMN-T) can earn up to a 55% interest in the property by funding exploration and making cash payments over a five-year period. Altius is the operator.
Altius has also acquired an option to purchase a mining lease contiguous with the northern boundary of Robert’s Arm from Energold Minerals (EGD-V). This property is host to several VMS-style prospects. Previous work reported 3.9% copper and 12.4% zinc over 4.6 metres from a trench at the Bull Road showing. Diamond drilling just north of current drilling returned 5.3% copper over 4.4 metres and a separate zone grading 4.5% zinc and 5 grams gold per tonne over 5.2 metres at shallow depths.
Altius can acquire the lease at any time over the next three years for $400,000. In order to maintain its option, it must keep the lease in good standing with the government of Newfoundland and Labrador by completing exploration programs.
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