NEWFOUNDLAND - The former Rambler copper-gold property near Baie Verte is yielding its secrets to ALTIUS MINERALS of St. John's. The company reports that two drillholes testing the nearby Ming footwall zone have cut copper mineralization over broad intervals. Moreover, grades improve with depth.
The Ming footwall zone, a large VMS-style stringer system, lies structurally beneath and subparallel to the Ming massive sulphide deposit, from which most of the historic production on the property was derived. Drilling by Altius in late 2003 intersected the Ming massive sulphide deposit approximately 1,476 ft down-dip from the limit of past mining, which ceased at a former property boundary within the presently consolidated land position. The grade and thickness encountered was comparable to historical mine averages.
Historic drill testing of the Ming footwall zone from intermediate levels of the Ming mine resulted in the estimation of an inferred resource of approximately 21 million tons at 1% Cu and 0.012 oz/ton Au between the 1,200-ft level and the 3,000-ft level. This estimate, completed by mine staff in 1982 based on 36 underground drill holes, is not National Instrument 43-101 compliant and therefore should not be relied upon.
Additional information, including photos, maps, drillhole particulars and a table outlining sample and analytical data can be found at www.AltiusMinerals.com.
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