Altius and Fronteer Advance Eight Large Uranium Targets in Labrador, Canada.ST. JOHN'S, Newfoundland And Labrador Newfoundland and Labrador, province, Canada Newfoundland and Labrador (ny  `fənlənd, ny -- Altius Minerals Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002)TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. ) and Fronteer Development Group (FRG-TSX / FTDGF-OTC) are pleased to announce that they have identified widespread surface mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in eight target areas on their properties in the Central Mineral Belt of Labrador, Canada. The 2004 exploration program involved a 13,000 line kilometer airborne magnetic and radiometric survey, followed by four weeks of geological mapping, prospecting, and the collection of 350 rock samples and 265 soil samples. Rock samples assayed up to 13.33% U3O8, and returned an average grade of 0.20% U3O8. The exploration program confirmed widespread uranium mineralization, in association with radiometric anomalies identified from the airborne survey. The program identified Otter Lake Otter Lake may refer to:
The program also examined the Michelin, Post Hill, White Bear Lake and Melody Hill project areas. These areas have all seen previous exploration work, which identified several deposits in the Michelin and Post Hill areas that have historical resource estimates. Altius and Fronteer believe that each of these areas exhibit excellent potential for further uranium discoveries. The eastern part of the Central Mineral Belt is a uranium-rich example of an Iron-Oxide-Copper-Gold District with potential for large tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, directs that to ascertain the tonnage of any ship or vessel, the surveyor, &c. , breccia-style uranium deposits. Please visit the Altius website (www.altiusminerals.com) for a direct link to our detailed project map. Sample highlights and descriptions of the eight project areas are listed below: Otter Lake The project area is situated around the largest radiometric anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. in the district. The Otter Lake anomaly is a strong circular feature with an area covering 4 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones and have returned some exceptional uranium values. This project area has never been drilled. Sample highlights include: - 4.36% U3O8 , 0.62 g/t gold, 80.4 g/t silver, 0.63 g/t palladium palladium, chemical element palladium [Gr. Pallas, goddess of wisdom], metallic chemical element; symbol Pd; at. no. 46; at. wt. 106.42; m.p. 1,554°C;; b.p. 2,970°C;; sp. gr. 12.02 at 20°C;; valence +2, +3, or +4. and 4.0% lead from grab sample Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole of brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec volcanic rock - 2.02% U3O8 over a 1.0 metre chip sample - 0.55% U3O8, 0.42 g/t gold and 87.6 g/t silver from grab sample of brecciated volcanic rock - 0.54% U3O8 average grade of the 65 radiometric rock samples assayed Jacque's Lake The project area includes the second largest radiometric anomaly in the district. The Jacque's Lake anomaly has a strike length of 5,000 metres, and a width of up to 500 metres. It is defined on the ground by mineralized boulders and limited mineralized outcrop, which may reflect a corridor of underlying in-situ uranium mineralization. Targets in this area have never been drilled. Sample highlights are as follows: - 0.40% U3O8 was the maximum value returned - 0.10% U3O8 was the average grade of the 54 rock samples assayed - 170 boulders were measured with radiometric readings in the range 1,000 to 15,000 counts per second along a strike length of five kilometres Burnt Brook The project area encompasses a circular anomaly measuring 500 metres in diameter, and corresponds with widespread uranium mineralization in outcrop, and large, locally derived, uranium-copper bearing boulders. Targets in this area have never been drilled. Sample highlights include: - 0.54% U3O8 was the maximum value returned - 0.14% U3O8 was the average grade of the 18 samples assayed - 0.15% U3O8 over 1.4 metre chip sample Birch Brook The project area features linear radiometric anomalies that occur over a distance of approximately 1,800 metres, and correspond to uranium mineralization in bedrock. Targets in this area have never been drilled. Results of sampling include: - 13.3% U3O8 was the maximum value returned and included 0.42% copper and 2.8% lead - 0.79% U3O8 was the average grade of the 11 samples assayed Michelin The Michelin deposit has seen partial underground development and a historic resource defined by approximately 300 drill holes over a strike length of 1,000 metres. Mineralization is open below a depth of 150 metres. This project area includes: - A historical resource of 6.4 million tonnes @ 0.13% U3O8. - The Rainbow deposit which has a historical resource of 0.27 million tonnes @ 0.10% U3O8, and lies 2,500 metres southwest of the Michelin deposit Post Hill The Post Hill Belt includes three small deposits with historically defined resources including - Nash Lake historical resource of 0.23 million tonnes @ 0.22% U3O8, - Inda Lake historical resource of 0.50 million tonnes @ 0.16% U3O8 - Gear Lake also includes a small defined historic resource Melody Hill Melody Hill features a high-grade boulder train that seem to end in nearby Melody Lake - Samples assayed up to 28.2% U3O8 from the boulder train. - A historic drill hole from this target area returned 0.14% U3O8 over 6.0 metres White Bear Lake Several uranium prospects including one with a modest, near surface resource define this project. The potential for exploration near known uranium deposits is being evaluated using models constructed from historical drill information. Compilation of previous work and analytical results continues, and will be reported in future releases on a project area basis. Future releases will also include details of planned exploration activities for 2005. Altius and Fronteer are equal partners in the Central Mineral Belt with mineral claims covering an area of 200,000 acres (780 square kilometres). Richard Hall Ph.D., P.Eng., is the Qualified Person for Altius and Fronteer on this project. Uranium resources referred to for the Post Hill, Michelin, and other deposits are historical in nature, and were estimated prior to NI 43-101. Altius or Fronteer has not undertaken an independent investigation of the resource estimate or independently analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. the results of the previous exploration work in order to verify the classification of the resources, and therefore the historical estimates should not be relied upon. Samples were analyzed by ALS Chemex and also the Saskatchewan Research Council The Saskatchewan Research Council is a Saskatchewan, Canada technology corporation, owned by the province. It provides contract research, technology transfer and analytical services to companies in Saskatchewan and around the world. . Altius Minerals Corporation has a royalty interest royalty interest The proportional ownership interest by the owner of oil and gas rights in income produced by the asset. See also overriding royalty interest. in the Voisey's Bay Ni-Cu-Co deposit in Labrador, Canada, from which first production is expected next year. Altius also has exposure to gold, base metals, and uranium through a focused exploration portfolio that is largely funded by senior joint venture partners. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. Altius Minerals Corporation (TSX VENTURE:ALS) |
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