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James Bay Altius JV

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Press release:

Midland and Altius provide an update on their Shire (Zinc) and Moria (Nickel) projects. (November 30, 2017)

Midland and Altius identify highly prospective electromagnetic anomalies on the Moria (NI-CU-CO) and Shire (ZN-CO) discoveries. (November 1, 2017)

Localisation:

  • The strategic exploration alliance covers an area of more than 200,000 square km in the James Bay area.

Properties:

  • 5 newly staked claims blocks, for a total of 330 claims covering 164.5 square km (Elrond, Minas Tirith, Isengard, Gondor and Helm’s Deep projects).
  • New Shire (Zn) project with 538 claims covering 300 square km.
  • New Moria (Ni-Cu-Co) project with 104 claims covering 58 square km

Highlights:

-Discovery of a new zinc-bearing greenstone belt on the Shire project

  • New zinc showing of the volcanogenic massive sulfide type, yielding 4.85% Zn over 1.17m, and up to 7.53% Zn in grab samples. Massive pyrrhotite-pyrite-sphalerite sulfides, and quartz-sphalerite exhalite. Massive sulfides are open along strike to the east and across strike to the north.
  • Regional exhalative horizon formed by a continuous string of VTEM anomalies at least 15 km long, on which the O’Connor showing is found
  • Massive Po-Py sulfides were observed in several other areas along that horizon, indicating that is it a major exhalative sulfide horizon
  • Newly discovered greenstone belt that is at least 50 km long, never explored previously.

-Discovery of series of Ni-Cu-Co mineralized meta-pyroxenite intrusions, Moria project

  • Up to 1.07% Ni, 0.24% Cu, 0.09% Co in grab samples, and 0.8% Ni / 0.8m in channels (Gimli showing); 0.78% Ni in grab samples (Gloin showing).
  • Host rock: weakly mineralized (Po) iron-rich meta-pyroxenite
  • Ni tenors (recalculated to 100% sulfides) very high, between 10% Ni and 15% Ni and up to 2% Cu.
  • At least 3 meta-pyroxenite dykes, each at least 100m large, and several kilometers in length, identified by geophysics and mapping
  • Unexplained EM anomalies along these dykes could be semi-massive to massive Ni sulfides
  • Least explored area, previously mapped as a large dioritic intrusion

-Discovery of new gold showings on the Elrond project: 

  • 4.52 g/t Au, 1.81 g/t Au in grab samples, in amphibolites mineralized in arsenopyrite-pyrrhotite
  • 0.89 g/t Au, 0.43 g/t Au, 0.38 g/t Au in grab samples of mineralized in sulfides, indicating a strong potential for Cheechoo-type, intrusion-related gold deposits

-Discovery of a new gold showing on the Minas Tirith project: 

  • 5.23 g/t Au in grab sample. Wacke with Eleonore-type biotite/calc-silicates alterations.

-Discovery of a new gold showing on the Helm’s Deep project

  • 2.42 g/t Au in a sandstone.
  • Abundant Eleonore-type alterations observed on the project (proximal biotite-tourmaline, distal calc-silicates).
  • Timiskaming-type polygenic conglomerates observed, similar to Eleonore mine.

-Strategic alliance for the generation of new gold exploration projects in James Bay

-Covers several Archean geological subprovinces of James Bay, a region recognized for its high gold potential (ex: Goldcorp Eleonore mine)

-Shared expertise between two excellent exploration teams.

Partnership:

  • Joint-Venture 50% Midland and 50% Altius Minerals.





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