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Altus Strategies commences drilling at Tabakorole Gold Project

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Global Mining Review,

Altus Strategies Plc has announced the commencement of a combined 35 000 m reverse circulation (RC), air core (AC), and auger drilling programme at the Tabakorole gold project located in southern Mali. Tabakorole is subject to a joint venture (JV) with Marvel Gold Limited. Altus holds a 49% equity interest and 2.5% net smelter return (NSR) royalty on the project. Exploration activities at Tabakorole are being funded by Marvel.


  • Significant drilling programme underway at the Tabakorole gold project in southern Mali.
  • 5000 m RC drilling to infill the north-west extension of the deposit and test priority targets.
  • 15 000 m AC and 15 000 m auger programmes to test additional targets.
  • Tabakorole hosts a mineral deposit for which an mineral resources estimate (MRE) has been generated comprising:
    • 17.3 million t at 1.2 g/t gold (Au) for 665 000 oz in the inferred category.
    • 9.2 million t at 1.2 g/t Au for 360 000 oz in the indicated category.
    • 70% of the MRE is situated within 150 m of the surface.
    • MRE remains open in parallel zones and at depth.
    • Preliminary high metallurgical recoveries indicate simple processing flowsheet.
  • Altus holds 49% of the Project and a 2.5% NSR royalty on Tabakorole gold production.

Steven Poulton, Chief Executive of Altus, commented: “The Tabakorole gold project in southern Mali is being advanced aggressively by Marvel Gold, our ASX listed JV partner. A combined 35 000 m RC, AC and auger drilling programme has commenced to test the potential north-west extension to the mineral resource area as well as numerous other targets across the project.

“Last month, we announced that the Tabakorole deposit has grown to over a million ounces in all categories. Drilling undertaken this year has continued to demonstrate consistent thicknesses and grades over the project's 3.2 km strike length and also resulted in the discovery of two shallow, higher-grade zones of mineralisation adjacent to the existing deposit. With excellent initial metallurgical gold recoveries averaging 97%, Tabakorole is shaping up as a significant potential gold development project in west Africa with substantial upside. I look forward to updating shareholders on the outcomes of the current drill programmes in due course.”

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African mining news Gold mining news