BAIE VERTE, Newfoundland Junior exploration company ALTIUS MINERALS is drilling at the Rambler property with an eye toward earning a 100% interest. This is a former producer of copper, gold and silver.
The Ming deposit and the Footwall zone look promising, according to Altius. The Ming deposit was mined from 1971-82. It yielded 2.1 million tonnes of ore grading 3.5% Cu, 2.4 g/t Au and 20.6 g/t Ag. High grade (31 g//t and 17.2 g/t Au) samples of native gold were recovered several hundred metres from the active mining areas shortly before the mine closed. About the same time, high grade copper was drilled in the Footwall zone. Both areas are believed to be open at depth.
The Footwall zone and the Ming deposit appear to be converging with depth, says Altius, and may ultimately be connected. It is possible therefore that that the high-grade Ming deposit represents a portion of a potentially larger massive sulphide body that has
been sheared or transposed upward along a fault zone. Given the noted increase in alteration intensity and copper content, it is further postulated that the large Footwall zone may represent the feeder zone to this massive sulphide body.
The current drill program consists of a single 1,350-m hole designed to test extensions of the Ming deposit 600 m down plunge beyond the limits of previous mining. The hole is planned to reach and test the Footwall zone as well. High-grade mineralization on the property is conductive, so borehole TEM geophysical surveying is planned.
More information on the Rambler program is available from president and CEO Brian Dalton or VP and CFO Roland Butler at 709-567-3440. Or go to www.altliusminerals.com to learn about all the properties of interest to Altius.