Business
Altius Minerals Provides 2020 Year-End Project Generation Update
ST. JOHN’S, Newfoundland and Labrador / Jan 12, 2021 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is p
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / Jan 12, 2021 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is pleased to update its Project Generation (“PG”) business activities and its public junior equities portfolio. The market value of the junior equities portfolio at December 31, 2020 was $52.2 million, compared to $45.5 million at September 30, 2020 and $54.1 million at December 31, 2019. These amounts do not include net positive cash generation from sales of $6.7 million for the year ($5.2 million in Q4 2020) or the value of warrants or property based milestone share payments yet to be received. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities. In total, approximately $150 million in third party capital financing was completed by portfolio companies in 2020. These funds will further the advancement of various mineral projects in which Altius has exposure through royalties and/or equity interests. During the year new equity positions were added to the portfolio from the option/sale of several projects, including: the Sail Pond silver project to Sterling Metals Inc. (SAG:TSX-V), the Golden Baie gold project to Canstar Resources Inc. (ROX:TSX-V), and the Wilding Lake gold project to Canterra Minerals Inc. (CTM:TSX-V). In each of these transactions, Altius has also retained certain underlying project royalty interests. New Projects Generated Altius continues to assemble new projects for which it is seeking partners in the year ahead. Brief descriptions of these projects are outlined below, while detailed profiles of each project can be accessed at https://altiusminerals.com/projects. The Adeline copper-silver project in Labrador features a large land position in an underexplored Mesoproterozoic supracrustal sequence with well documented sediment-hosted copper-silver occurrences that shares potential geologic affinities with copper deposits of the Zambian Copperbelt. Historical drilling yielded 7.9 m of 1.76% copper and 56.2 g/t silver*. A portfolio of nickel sulphide projects in Labrador, including Florence Lake (historical drill results of 11.32 m of 2.2% nickel, including 1.36m of 8.49% nickel, 0.48% copper, 0.23% cobalt, 1.4 g/t palladium and 0.38 g/t platinum*), the Natashquan Project, ...