Partner
NUIKLAVIK URANIUM PROJECT
In August 2007 Altius consummated and exploration earn-in agreement with Golden Cross Resources (GCR:ASX) whereby GCR may earn a 50 percent interest in the Notakwanon and Nuiklavik uranium projects in central Labrador. Altius retains a 2-percent gross sales royalty on uranium.
The property is underlain by alkaline to peralkaline Proterozoic volcanics that host numerous rare earth element (REE) and base-metal occurrences identified by government geologists. The Nuiklavik Uranium Project represents a new exploration concept in an area not previously explored for uranium.
The 2007 work program consisted of a high resolution airborne magnetics and radiometrics survey, reconnaissance geological mapping, prospecting and rock sampling. Several new occurrences of radioelement mineralization, including anomalous U, as well as F, Mo, Cu occurrences and REE-rich zones were identified.
The 2008 work program is planned to include:
- a detailed in-house analysis of the airborne geophysics data
- prospecting and follow-up of targets
- stream sediment sampling
