Altum Reports Results of 16.55 g/t Au, 46.4% Cu and 144 g/t Ag from its 2020 Adam West Exploration Program
ALTUM RESOURCE CORP.
#2300 – 1177 West Hastings Street
Vancouver, British Columbia,
V6E 2K3
Altum Reports Results of 16.55 g/t Au, 46.4% Cu and 144 g/t Ag from its 2020
Adam West Exploration Program
Vancouver, British Columbia, June 29, 2020 – Altum Resource Cor p. (“Altum” or the
“Company”) (CSE: ALTM) is pleased to report the results from th e first phase of its 2020
exploration program on its Adam We st property (the "Property") on northern Vancouver Island.
After the positive results from 2019 exploration (see news rele ase of March 31, 2020), the
Company acquired an additional 1,589 hectares of ground to expa nd the Property to its present
4,687 hectare (46.87 km 2) size. Historical exploration and work completed in 2019 uncov ered a
gold-silver-base metal occurren ce at Lucky Jim, and widespread anomalous (>0.25%) copper ±
silver at the Boyes Creek, Adam West and Eloise areas (Figs. 1 and 2). The 2019 NI 43-101
compliant Technical Report on the Property can be accessed via SEDAR. One hundred and nine
grab samples and two hundred soil samples were collected during this exploration program.
Highlights from the 2020 program include:
Delineation of a 5 km long by >500 m wide zone at Boyes Creek c ontaining abundant
anomalous copper. A total of 147 grab samples were taken in this zone during 2019/2020
and 102 returned values >0.25% Cu with 32 exceeding >2.5% Cu;
Discovery of the Sisters Copper showing, with peak values of 46.4% Cu and 144 g/t Ag;
Extension of Adam West copper zone; and
Mapping of the Lucky Jim gold showing identified a dilational z one within a north-
trending fault system. Sampling in 2020 returned up to 16.55 g/t Au.
James Walchuck, CEO of Altum commented “We are pleased with the results of this field
program. The area of anomalous copper has been significantly expanded, and an important
new copper occurrence has been discovered. The high-grade gold-copper-silver mineralization
at the Lucky Jim occurrence is now better understood and better documented.
The Company has identified the following specific areas of the claim that require further
investigation:
Boyes Creek
The copper anomaly at Boyes Creek consists of bornite veins wit hin an east-trending shear zone
striking 600 m, which has been offset by later faulting. There are at least four discrete bornite-
rich veins and numerous veinlets associated with this shear zone, which dips steeply to the south.
Mineralization is up to 4 m wide and includes discrete veins up to 25 cm wide.
The Sisters
The 20 m wide Sisters Copper showing exhibits abundant malachit e, chalcopyrite and bornite on
thin shears and fractures. The central portion of this structur e includes a 2 m wide, strongly
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News Release 2 June 29, 2020
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silicified, steeply dipping, west-northwest-trending shear zone with discontinuous internal
bornite veinlets and stringers. Te n grab samples were collected from this showing and returned
1.36% to 46.4% copper and silver from 2.7 to 144 g/t . A parallel associated zone 100 m north
of the Sisters Copper showing was traced for 1200 m to the nort hwest and consists of copper
mineralization (<12%) and anomalous gold values (<2.5 g/t) with in and along shallow veins and
amygdules.
Adam West
At Adam West, chalcopyrite, bornite and malachite occur on frac tures, in irregular quartz veins,
and in amygdules in massive basa lt flows immediately below a th in limestone horizon.
Mapping/prospecting in 2020 extend ed the strike of this zone fr o m 1 4 0 m t o 7 5 0 m . H i g h
copper values in soils in areas of no outcrop between Boyes Cre ek and Adam West suggest that
more mineralization is present than is evident in surface outcrops.
Lucky Jim
This gold ± silver-copper-zinc occurrence comprises five distin ct mineralized areas over a
combined strike length of approxi mately 150 m along the Adam Ri ver and occurs within
structural dilation along a dextral north-trending fault zone. Mineralization is within and adjacent
to veins within sheared basalt at or proximal to the contact wi th a capping limestone cap (Fig. 3).
The basalt-limestone contact has been folded at Lucky Jim into a Z pattern, which may have
repeated the mineralization. Eight samples were collected in 20 20; these returned peak values as
high as 16.55 g/t Au, 21.1 g/t Ag, 1.55% Cu and 0.96% Zn (different samples). A total of 54
grab samples from this zone collected over the past two years r eturned 25 with gold values in
excess of 1 g/t Au and peak values of 69.4 g/t Au, 129 g/t Ag, 9.54% Cu and 2.19% Zn.
In general anomalous gold is rare on the Property other than th e Lucky Jim occurrence. Two
samples of epidote altered amygdaloidal basalt associated with flat copper-bearing veins in the
northwest part of the Property returned results of 1.93 and 2.52 g/t Au ; these results are
intriguing because flat veins typically would not be well repre sented in outcrops. A pyrite-rich
shear discovered this season west of Boyes Creek ran 1.67 g/t Au, but it is not clear how far this
can be traced.
Additional exploration is planned for the continued evaluation of the property before drill-
testing.
It should be noted that, due to their selecti ve nature, assay results from grab samples noted
above may not be representative of the overall grade and extent of mineralization on the subject
areas.
Quality Control/Quality Assurance
Sampling included insertion of blanks into the stream of sample s for chemical analysis. Every
twentieth sample was a blank. Rock samples were delivered by Al tum consultants to ALS
Global’s laboratory in Vancouver, where they were processed. An alysis for gold was completed
by fire assay and for other elements by ICP analysis. ALS is a certified and accredited laboratory
service. Gold results varied fro m below detection to a high of 16.55 g/t, silver from below
detection to 144 g/t, copper from 56 ppm to 46.4%, lead from be low detection to 36 ppm and
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News Release 3 June 29, 2020
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zinc from 2 ppm to 0.96%. Soil samples were delivered to Aztec Geoscience Inc. in Comox,
where they were dried at ambient temperatures for nine to twelv e days, sieved through a 4 mm
mesh screen and analyzed with a C Series Vanta TM handheld XRF (X-Ray Fluorescence)
analyzer. Copper was the main ele ment of interest; results rang ed from below detection to 548
ppm.
The technical information contai ned in this news release has be en approved by Dr. Tom
Setterfield, P.Geo., who is a Qualified Person as defined in Na tional Instrument 43-101-
Standards of Disclosure for Mineral Projects.
About Altum Resource Corp.
Altum is a mineral exploration and resource development company focused on identifying
economically viable resource opportunities in the Americas.
On behalf of the Board of Directors
James Walchuck,
Chief Executive Officer and Director
T: 604.259-7707
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-
looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the
United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical
fact, included herein including, without limitation, the intended use of the proceeds received from the Offering, the
possible acquisition of the Projects, th e Company's expectation that it will be successful in enacting its business
plans, and the anticipated business plans and timing of future activities of the Company, are forward-looking
statements. Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are typically identified by words such as:
"believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may ", "should", "potential",
"scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking
statements in this news release, the Company has a pplied several material assu mptions, including without
limitation, that investor interest will be sufficient to close the Offering, and th e receipt of any necessary regulatory
or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in
future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of
any necessary permits, licenses and regulatory approvals in connection with the future exploration and development
of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and
development of the Company's projects an d the Company's ability to comply with environm ental, health and safety
laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future
results or performance, and that actual results may differ materially from those in forward-looking statements as a
result of various factors, including, operating and technical difficulties in connection with mineral exploration and
development activities, actual results of exploration activities, the estimation or realization of mineral reserves and
mineral resources, the inability of the Company to obtain th e necessary financing required to conduct its business
and affairs, as currently contemplated, the inability to clos e the Offering, the inability of the Company to enter into
definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and
amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the
development of new deposits, requiremen ts for additional capital, future prices of preci ous metals, changes in
Altum Resource Corp.
News Release 4 June 29, 2020
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general economic conditions, changes in the financial markets and in the demand and market price for commodities,
lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry,
delays in obtaining governmental approvals, permits or financing or in the completion of development or
construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the
inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the
Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks
related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim
Management's Discussion and Analysis and filed with cer tain securities commissions in Canada. All of the
Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review
these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no
obligation to update any of the forward-looking statements. The Company undertakes no obligation to update any of
the forward-looking statements in this news release or incorporated by reference herein, except as otherwise
required by law.
Figure 1: Interpreted Geology of the Adam West Property
Figure 2: Altum's Grab Sample Copper Results from 2019 and 2020 Programs
Figure 3: Geology of the Lucky Jim Occurrence