Altius cranks up drills

Altius Minerals (ALS-V) has begun sinking holes on the Moosehead gold property in central Newfoundland’s Botwood Basin.

The drilling is being funded by Sudbury Contact Mines (SUD-T) as part of its option to earn an initial 51% stake in the property.

The holes are aimed at following up on previous drilling, which cut shallow intercepts highlighted by two 1.5-metre intervals running 70 grams gold and 170 grams gold per tonne. About 35 holes are planned to test the down-dip and strike extent of the high-grade intersections.

A series of scout holes are also planned to test ground geophysical anomalies identified earlier this year near un-sourced, high-grade boulders. Altius believes the anomalies represent fault or fracture zones similar to those hosting mineralized veins carrying up to 414 grams gold over 0.6 metre elsewhere on the property.

In all about 4,000 metres of drilling are planned.

Meanwhile, at Altius’ Robert’s Arm base metal property in the Buchans-Robert’s Arm volcanic belt of central Newfoundland, Inmet Mining (IMN-T) is funding ongoing drilling as it works toward earning an initial 55% interest in the property.

Late last year, drilling by the partners came up dry. On new hole sunk to test 200 metres east of a previously cut 4.4-metre interval running 4.4% copper failed to cut any significant mineralization. A deepening of a previously drilled hole encountered 200 metres of strongly altered volcanics averaging 10% disseminated pyrite and lesser amounts of base metals. In some places, massive sulphides returned up to 1.3% zinc over 6 metres.

The current program will focus on an area about 450 metres northeast of the previous intersection.