Altius hinted drilling in the Botwood Basin later this year
05/22/2003 NR: Altius Receives $500,000 In Proceeds as a result of the exercise of common share purchase warrants.
It states, "2003 is set to become the most active year of exploration yet for Altius. Altius will operate significant, fully partner funded, exploration programs at Moosehead (Sudbury Contact Mines), Mustang Trend (Barrick), Robert's Arm (Inmet), Rocky Brook (Cameco). Most of these programs will include a significant amount of drilling to test key targets. Altius continues discussions with potential partners for certain of its wholly owned projects..."
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While it is not being explicit here, it is generally expected Barrick will drill this year in the Mustang Gold trend properties where Barrick Gold and Altius Minerals are looking for sediment hosted (Carlin-Nevada style) gold mineralization. Grayd Resources (GYD on TSX-V), with John McCluskey (Alamo Gold) as director and Marc Prefontaine as President (Hunter Dickenson Group alumni active in South Africa), has property just next to the Altius/ABX ground, thought to have "same geological setting".
So far results from the Botwood Basin have not matched earlier exuberant expectation stemmed from Barrick's seemingly very generous deal going into the JV with Altius. We shall see if any salvation should Altius/ABX become successful...
