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Altius holds 100% interest in two property groups comprising 128 claims (3,200Ha) in the Botwood Basin area of Newfoundland. These are the Miguel's Trend and Mustang Trend Properties.
The Botwood Basin refers to an area of north-central Newfoundland that is underlain by shallow marine to terrestrial sedimentary rocks and mafic to felsic subaerial volcanic rocks of late Silurian to Early Devonian age. Gold mineralization occurs along a structural corridor and is best described as a high-level orogenic-style gold mineralization with epithermal affinities.
Miguel's Trend
Mineralization represents the upper, near-surface levels of an epithermal system with gold values up to 0.6 oz/t and is associated with arsenic and antimony.
Mustang Trend
Gold values of approximately 1 g/t are typical, though higher values up to 12 g/t appear to be associated with breccia bodies. Intense hydrobrecciation textures, vuggy quartz vein stockwork and up to 3% stibnite mineralization characterize the prospect. Up to 278 g/t Ag is associated with barite mineralization. Limited, shallow drilling (12 holes totaling 1007 metres) encountered anomalous gold mineralization over widths of ten metres.
In 2009, a program of prospecting, rock sampling, line cutting and induced polarization / resistivity and magnetics was completed on specific mineral licenses. The program resulted in highlighting seven high priority gold targets in the property package for advancement in 2010.
