CENTRAL LABRADOR The 50-50 joint venture of FRONTEER DEVELOPMENT and ALTIUS MINERALS has expanded its claim holdings in the Central Mineral Belt.
The Central Mineral Belt contains rocks of the right age and demonstrates many of the key characteristics of the Olympic Dam deposit in Australia, which contains over 700 million tonnes of reserves grading 1.7% Cu, 0.6 kg/t U3O8 in rocks of Middle Proterozoic age. The Olympic Dam mine is owned by WMC Resources Inc., and more information is available at WMC in the "About Us" section.
Fronteer and Altius have now staked 22,375 hectares. They cover the Michelin property containing a uranium deposit that has attracted previous exploration and development expenditures of $30 million; the Post Hill property which contains uranium and copper; the Emben property with copper, silver, uranium and molybdenite mineralization; the Storm property with showings of uranium, silver and copper; the Croteau property with areas of anomalous copper and uranium values, and the Letitia property which has a large sericite-hematite alteration zone with disseminated suphides and abundant rare earth elements.