ADELINE COPPER PROJECT - Labrador, Canada Copper, Silver JANUARY 2021 - Altius Minerals
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ADELINE COPPER PROJECT Labrador, Canada Copper, Silver JANUARY 2021
DISCLAIMER AND QUALIFIED PERSON
Forward Looking Statements
This document includes certain statements that constitute “forward‐looking statements” and “forward-looking information”
within the meaning of applicable securities laws (collectively, “forward‐looking statements”). Forward-looking statements
include statements regarding Altius Minerals Corporation’s (“Altius”) intent, or the beliefs or current expectations of Altius’
officers and directors. Such forward-looking statements are typically identified by words such as “believe”, “anticipate”,
“estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “contemplate”, “possible”, “attempts”,
“seeks” and similar expressions. Forward‐looking statements may relate to future outlook and anticipated events or results.
By their very nature, forward‐looking statements involve numerous assumptions, inherent risks and uncertainties, both
general and specific, and the risk that predictions and other forward‐looking statements will not prove to be accurate. Do not
unduly rely on forward‐looking statements, as a number of important factors, many of which are beyond Altius’ control,
could cause actual results to differ materially from the estimates and intentions expressed in such forward‐looking
statements.
Forward‐looking statements speak only as of the date those statements are made. Except as required by applicable law,
Altius does not assume any obligation to update, or to publicly announce the results of any change to, any forward‐looking
statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in
other factors affecting the forward‐looking statements.
Qualified Person’s Statement
Roderick Smith, M.Sc., P.Geo., Chief Geologist for Altius, is the Qualified Person as defined by National Instrument 43-101,
Standards of Disclosure for Mineral Projects. Mr. Smith is responsible for the scientific and technical data presented herein
and has reviewed and approved this project summary. Of note, historical results reported herein have not been verified by
Altius personnel. Surface grab samples are selective by nature and are unlikely to represent average grades of the
mineralization found on the property.
2
SUMMARY OBSERVATIONS
The Seal Lake Group is clearly prospective for large sediment-hosted
stratiform copper deposits but is underexplored
• Located in a Mesoproterozoic (1270-1225 Ma) supracrustal
sequence with well documented SSC-type copper
occurrences.
• Mineralization is structurally controlled yet generally
stratiform.
• Reduced grey beds host the most significant copper
occurrences.
District-scale comprehensive evaluation has not been conducted
since 1970’s
• Previous exploration programs lacked sustained effort or
suffered from poor targeting techniques.
• Historical drilling characterized by very shallow, closely
spaced drill holes.
Altius has identified and acquired four target areas
• Recent evaluation suggests an overlooked opportunity.
• Prospective copper-bearing horizons have not been
adequately tested.
• Altius is the sole owner of mineral rights in the area. Representative mineralized grab samples from the Ellis Prospect
3
LABRADOR MINING DISTRICTS
The Adeline Copper project is located within the
Central Mineral Belt (CMB) in the province of
Newfoundland Labrador, Canada – 145 km NW of the
community of Happy Valley-Goose Bay, Labrador.
A hydro access road is within 70 km of the project.
The province is politically stable with a transparent
permitting process, established mining and taxation
laws, and with mining-knowledgeable First Nations
groups. ADELINE
COPPER
PROJECT
World-class, large-scale mining operations located in
northern Labrador at Vale’s Voisey’s Bay Ni-Cu-Co
mine and western Labrador at Rio Tinto’s Carol Lake
Fe mine - supported by a network of roads, rail, deep
water ports, airports, service centers, hydroelectric
power, and a skilled workforce.
4
CENTRAL MINERAL BELT OF LABRADOR
• The Central Mineral Belt (CMB) consists of six
successive Proterozoic supracrustal
sequences and associated Archean basement
rocks that occupy an area of 260 by 75 km in
central Labrador.
- Aillik Group
- Post Hill Group
- Moran Lake group
- Bruce River Group
- Letitia Lake Group
- Seal Lake Group
• Records multiple magmatic and hydrothermal Cu
events between ca. 1800 Ma and 1330 Ma. U
• The Seal Lake Group is the youngest
supracrustal sequence in the CMB and hosts
the majority of the copper occurrences
known throughout the belt.
Van Nostrand & MacFarlane, 2011
5
CENTRAL MINERAL BELT OF LABRADOR
• The CMB is a globally significant Cu-U province.
• 260 km long belt endowed with hundreds of copper, uranium, silver, REE and molybdenum showings.
• Intense uranium exploration in east a decade ago but the west was ignored because no uranium occurrences
were known.
• The western part of the CMB is dominated by copper occurrences hosted within the Seal Lake Group.
Nain
Province
Churchill
Province Ni-Cu-Co
REE
Fe
U Makkovik
Superior
Cu Province
Province
Fe Happy Valley-
Goose Bay Michelin Deposit -
Paladin Energy Ltd
(Uranium)
250 km
6
REGIONAL TECTONIC ELEMENTS
Orogenic activity and continental re-aggregation between 1.3
and 1.0 Ga (Grenville Orogeny) formed copper deposits White Pine / Katanga
associated with sedimentation and basaltic volcanism in intra- Keweenawan
continental rifts.
Seal Lake
Rodinia 1070 Ma
7
REGIONAL TECTONIC ELEMENTS
Deposition, volcanism and intrusion in the Seal Lake
Group were broadly coeval with the Laurentia-wide
rifting, such as that exhibited by the Mid-continental Rift
System (MRS) of North America.
Seal Lake
Otish Basin
MRS
White Pine / Keweenawan
8
REGIONAL TECTONIC ELEMENTS
Seal Lake Group - Geology
• ~10,000 km2 in central Labrador (outlined in blue)
• Mesoproterozoic supracrustal sequence
• Argillite, arenite
• Basalt flows
• Gabbro sills
• Triple junction of the Churchill, Nain and Grenville
provinces
• The Seal Lake Group formed as a result of extensive
continental sedimentation during a rift related cycle
of uplift and erosion.
9
LAND TENURE
Altius Map Staked Claims
• Altius is the sole tenement holder covering prospective stratigraphy
• 12,925 Ha (129.3 km2) in five contiguous map-staked mineral licenses (517 claims; all first year)
• CDN $103,400 in exploration expenditures required in 2021
• One aboriginal group with a formal land claim
• No parks, ecological reserves or restricted land use areas
10REGIONAL COPPER MINERALIZATION
250 copper occurrences
120 km long – 45 km wide
• Hosted primarily by the middle formations of the
Mesoproterozoic Seal Lake Group
• Copper mineralization is structurally controlled, epigenetic
and likely associated with the Grenville Orogeny (ca. 1.0 Ga.) Chalcocite mineralization in grey beds at Adeline Island
Copper occurs in two settings:
1. Chalcocite and/or bornite stringers and quartz-carbonate
veins in diabase, basalt, or grey to black shales, arenite and
phyllite (reduced “grey beds”) Primary Target
2. Native copper-bearing quartz-carbonate veins within red
slate and/or strongly hematitic basalt units.
Native copper mineralization in basalt at Salmon Lake Main
11PROSPECTIVE STRATIGRAPHY
Ellis: Brian Prospect:
4.9% Cu, 192 g/t Ag 0.3% Cu, 8.5 g/t Ag Duck Lake East & Brandy Lake:
South 2.3% Cu, 6.6 g/t Ag
Ellis Pond #75:
4.9% Cu, 192 g/t Ag
Adeline River:
1.2% Cu, 8.9 g/t Ag
Adeline Island:
5.3% Cu, 55.6 g/t Ag East Seal Lake #68 & 206:
38.8% Cu, 24.9 g/t Ag
Seal Lake No. 1: South Adeline Mountain:
26.9% Cu, 16.5 g/t Ag 13.6% Cu, 199 g/t Ag Whiskey Lake:
Salmon Lake Main: 5.5% Cu, 135 g/t Ag
5.6% Cu, 15.2 g/t Ag
Seal Lake Group
• The Adeline Island Formation of the Seal Lake Group is the main
host to the grey-bed hosted copper mineralization.
• Comprises interbedded slate, phyllite and quartzite having
subordinate calcareous rocks, basalt flows and thin gabbro sills.
12PROSPECTIVE STRATIGRAPHY
Mineralization Seal Lake Group Major Prospects
Copper Sulphide (after Van Nostrand, 2011) (see previous map for locations)
Native Copper
No known copper occurrences
Chalcocite Adeline Island Ellis
Primary Target
Bornite Adeline Island West Duck Lake East
Horizon
Chalcopyrite Adeline River Brian Prospect
Pyrite Adeline Lake North Shore 1 Brandy Lake
Molybdenite Adeline Lake North Shore 2
Sphalerite? Adeline Lake North Shore 3
Native Copper Ellis 75
Chalcocite Seal Lake Main
Bornite East Seal Lake 68 & 206
Chalcopyrite Salmon Lake Main
Pyrite Seal Lake #1
Molybdenite Whiskey Lake
Native Copper
Chalcopyrite
Chalcocite South Adeline Mountain
Bornite
13STRUCTURAL MODEL
• The Seal Lake Group is complexly folded into an east-trending, doubly plunging syncline
• The southern limb of the syncline has been overturned and thrust northward during Grenvillian deformation (ca. 1.0 Ga)
• Deformation has created ‘structural traps’ that host copper mineralization
The claim outline denoted in blue is outdated and the reader should refer to slide 10 (“Land Tenure”) for the current property outline.
14STRUCTURAL MODEL
Copper mineralization is epigenetic, likely attributed to deformation
associated with the Grenville Orogeny.
The mineralization occurs as veins and replacements along contact
zones and deformation zones associated with folds and faults.
Evident at all scales.
Small scale F2 fold in drill hole K-1 at 63ft (Adeline Island)
Schematic of ‘structural trap“ at Cupric Canyon Capital’s Zone 5 deposit in with bornite and chalcocite mineralization along the S1
Botswana (Kalahari Copper Belt) hosted by Meso- Neo- Proterozoic rocks. foliation.
15ALTIUS PROGRAM SUMMARY
Comprehensive Digital Compilation
• Exploration and government data (drilling, geology,
geochemical surveys).
Field and Laboratory studies
• Geological mapping
• Rock and soil geochemistry
• Core re-logging
• Laboratory based studies (petrography, SEM,
geochronology)
Data analysis
• Integration and interpretation of all digitized data
• Identified target areas with resource potential.
16EXPLORATION HISTORY
Time Company Drill Methods Comments
1951-1956 Frobisher 27 drill Geochemistry 200+ copper showings discovered
Kennco holes Prospecting
Ellis 4.3m @ 1.69% Cu, 46 ppm Ag
1743 m 3.5m @ 1.85% Cu, 41 ppm Ag
Adeline 2.4m @ 2.45% Cu, 10 ppm Ag
S Adeline Mt. 6.1m @ 0.14% Cu, 2.7 ppm Ag
1967-1972 Brinex 15 drill Geochemistry Minor drill intercepts indicated widespread copper
Bethlehem holes Geophysics mineralization
Steel 1219 m Geology
1992 Noranda - Geophysics
AEM
Geochemistry
2005-2006 Silver Spruce - Geophysics Uranium focused exploration
Mega Heliborne
Magnetics-Gamma
Uranium Survey
2011 Playfair 24 drill Satellite Widely spaced wildcat drilling of favorable Adeline
Mining holes Imagery Formation, confirmed widespread reduced grey
beds.
4355 m
Improved grades at Ellis (Target 3)
7.9m @ 1.76% Cu, 56.2ppm Ag
17TARGET AREAS
There are two broad target areas each located on a limb of a regional
scale fold:
South Limb North Limb
1. Adele 2. Adeline
3. Ellis
4. Duck
20SSC MODEL
SSC Model Criteria (Reduced Facies Subtype)
✓ Rock Type: Host rocks are reduced facies marine or
lacustrine rocks such as green, black, or gray shale,
siltstone, thinly laminated tidal facies, or reefoid carbonate
rocks, and dolomitic shales.
✓ Age Range: Most deposits favor Middle and Late
Proterozoic rocks worldwide.
✓ Depositional Environment: Continental clastic sedimentary
basins succeeded by epicontinental shallow-marine or
lacustrine basin within 30° of the paleoequator.
✓ Tectonic Setting: An intracontinental rift or aulacogen
✓ Mineralogy: Chalcocite and other Cu2S-CuS minerals +
bornite.
✓ Deposits may be zoned with centers of chalcocite-
bornite, outer zones of chalcopyrite-pyrite, and
peripheral galena-sphalerite.
27EXPLORATION OPPORTUNITY
Recommended 2021 program
• Prospecting
• Soil geochemistry
• Core re-logging
• Detailed geological/structural mapping
• Select drill targets
Estimated first year program budget C$400K
28CONTACT INFORMATION
Chad Wells
Vice-President, Business Development
CW 29 Phone: (709) 579-8271
Email: Chad@altiusminerals.com
Lawrence Winter
LW Vice-President, Exploration
Phone: (709) 579-8278
Email: Lawrence@altiusminerals.com
Altius Resources Inc.
2nd Floor, 38 Duffy Place
ALS St. John’s, NL, A1B 4M5
Main: (709) 576-3440
Fax: (709) 576-3441
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