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The Boxey Point uranium project is subject of an earn-in agreement with
Kirrin Resources. Kirrin may earn a 60% interest in the Boxey Point property by
spending $1,000,000 on exploration over 4 years, and issuing 2,000,000 Kirrin
shares to Altius.
Kirrin recently completed a proposed 1,500 metre, 6-hole drilling program at
Boxey Point for which results are pending. The drilling program targeted a zone
of uranium mineralized sandstone exposed in a sea cliff that also featured a
consistent soil geochemical anomaly extending ~1.5 km inland.
The property is underlain by Carboniferous sandstones and conglomerates and
subordinate rhyolites intruded by mafic sills. Uranium mineralization is exposed
in sea cliffs and is hosted within the altered sedimentary rocks, ranging up to
0.18% U3O8.