Altius Royalty and Stream New Discoveries Update
Altius Minerals Corporation (ATUSF) has reported significant mineral exploration discoveries related to its Chapada 3.7% copper stream interest and Silicon 1.5% NSR royalty. Lundin Mining's recent drill results from its Chapada operation in Brazil revealed high-grade copper and gold discoveries at the Saúva site, with grades exceeding current ore being processed. Meanwhile, AngloGold Ashanti announced a maiden inferred resource of 3.37 million ounces of gold at the Silicon Project in Nevada. These developments may influence production and expansion strategies for Altius.
- High-grade copper and gold discovery at Saúva with grades significantly higher than current ore.
- Maiden inferred resource of 3.37 million ounces of gold at the Silicon Project.
- Potential for increased processing capacity at Chapada from 24 Mt to 32 Mt per annum.
- Copper stream rate payable to Altius will decrease from 3.7% to 2.65% if copper production increases by more than 33%.
ST. JOHN’S,
Chapada
On
Published drill result highlights included:
-
Hole FOR-113: 55.48 m at
0.88% Cu and 1.15 g/t Au or1.72% CuEq1, from 6.52 m
including: 27.26 m at1.30% Cu and 1.89 g/t Au or2.68% CuEq, from 33.74 m -
Hole FOR-115: 65.45 m at
0.61% Cu and 0.70 g/t Au or1.12% CuEq, from 23.55 m
including: 18.41 m at1.26% Cu and 1.92 g/t Au or2.66% CuEq, from 50.43 m -
Hole FOR-123: 64.25 m at
0.72% Cu and 1.10 g/t Au or1.51% CuEq, from 158.45 m
including: 43.25 m at0.90% Cu and 1.52 g/t Au or2.01% CuEq, from 158.45 m
and: 70.40 m at0.42% Cu and 0.11 g/t Au or0.50% CuEq, from 248.70 m
including: 8.56 m at1.04% Cu and 0.16 g/t Au or1.16% CuEq, from 248.70 m -
Hole FOR-135: 57.31 m at
0.79% Cu and 1.06 g/t Au or1.56% CuEq, from 8.29 m
including: 17.95 m at1.27% Cu and 1.98 g/t Au or2.71% CuEq, from 32.05 m
and: 12.80 m at0.44% Cu and 0.11 g/t Au or0.52% CuEq, from 189.20 m -
Hole FOR-148: 74.06 m at
0.81% Cu and 1.27 g/t Au or1.74% CuEq, from 116.00 m
including: 19.39 m at1.80% Cu and 3.61 g/t Au or4.43% CuEq, from 149.61 m
1Copper equivalent grades (CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be
Lundin Mining further commented during its Q4 and Full Year 2021 Financial Results webcast that the prospect remains open for expansion in all directions and that the copper and gold grades encountered in initial drilling at Saúva are significantly higher than the current ore being processed at Chapada. It added that as delineation and other evaluation work continues it will consider implications of the discovery related to its ongoing expansion studies at Chapada, with these potentially including options for new dedicated processing facilities for Saúva or the incorporation of ore trucking to the existing mine processing facilities.
Lundin Mining also commented that Chapada expansion studies are ongoing, including evaluation of a scenario which would potentially increase annual processing capacity to 32 Mt per annum from the current 24 Mt per annum. Altius advises that under its copper streaming agreement dated
Silicon
On
Altius holds a
In conjunction with its Central-Silicon resource estimate announcement, AGA provided an illustrative outline (see Slide 14 of AGA’s Year End 2021 Results presentation) of its plans for the project as part of a consolidated regional development strategy. This highlighted the potential for more than 300,000 ounces of gold production per year beginning in approximately three years. Initial mining of oxide gold resources is expected from the North Bullfrog area followed by the Central-Silicon deposit and then potentially from the Merlin/Lynnda Strip target area, which is located immediately south of the Central-Silicon deposit. The resource announced by AGA for the Central-Silicon Deposit does not incorporate results obtained to date from drilling of the Merlin target area, for which a concept study is reportedly planned. The North Bullfrog and Lynnda Strip portion of the Merlin target were recently consolidated to form a contiguous land package with the Silicon project as a result of AGA’s acquisition of Corvus Gold.
Further details concerning the maiden resource estimate for Central-Silicon as well as AGA’s Nevada Strategy can be found in the investor material accompanying its year end 2021 results dated
Qualified Person
The technical information disclosed in this news release has been reviewed and verified by
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,175,595 common shares issued and outstanding that are listed on Canada’s
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Email: Cwells@altiusminerals.com
Tel: 1.877.576.2209
Email: Fwood@altiusminerals.com
Tel: 1.877.576.2209
Direct: +1(416)346.9020
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FAQ
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