EXPLORATION & DEVELOPMENT

New explorer gains on high-grade samples in BC

Altum rises on results from Adam West

Staff reporter
 Altum Resource Corp’s Adam West property on Vancouver Island

Altum Resource Corp’s Adam West property on Vancouver Island

Altum (CSE: ALTM) had listed on the Canadian Securities Exchange in late March after completing its C$350,000 IPO by issuing 3.5 million shares at 10c.

CEO James Walchuck said the company was pleased with the results of the field programme.

"The area of anomalous copper has been significantly expanded, and an important new copper occurrence [the Sisters Copper showing] has been discovered," he said.

"The high-grade gold-copper-silver mineralisation at the Lucky Jim occurrence is now better understood and better documented."

Altum recently expanded the property to 4,687ha.

The company also has the option to acquire the Rio Loa and Coya "promising gold projects" in Chile.

It had net working capital of about $175,000 at April 30, then raised almost $580,000 in a non-brokered placement at 10c per unit earlier this month.

Its shares, which had dipped as low as 6c in May, closed up more than 7% yesterday to a high of 30c to capitalise it about $4.2 million (US$3 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.