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Altus Strategies announces updated Tabakorole MRE

Published by
Global Mining Review,


Altus Strategies Plc has announced that an updated independent mineral resource estimate (MRE) has been prepared in accordance with the JORC Code, for the Tabakorole gold project located in southern Mali. Tabakorole is subject to a joint venture (JV) with Marvel Gold Ltd. 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.

Highlights

  • Updated independent MRE for Tabakorole JV gold project in southern Mali.
  • Tabakorole hosts a mineral deposit for which an 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.
    • 24% increase in indicated ounces and 7% increase in inferred ounces.
    • 70% of the MRE is situated within 150 m of the surface.
    • Preliminary high metallurgical recoveries indicate simple processing flowsheet.
    • Shallow, higher-grade parallel zones have contributed to upgraded MRE.
    • MRE remains open in parallel zones and at depth.
  • Resource expansion drilling programme planned to commence in 4Q21.
  • Altus holds 49% of the project and a 2.5% NSR royalty on Tabakorole gold production.

Steven Poulton, Chief Executive of Altus, commented: “We are pleased to report on the upgraded mineral resource at the Tabakorole gold project in southern Mali. Drilling undertaken by our JV partner, Marvel Gold, this year has continued to demonstrate consistent thicknesses and grades over the project's 3.2 km strike length, as well as the discovery of two new shallow, higher-grade zones of mineralisation adjacent to the existing deposit. These parallel zones may potentially provide some excellent low-strip starter pit options for any eventual mining operation.

“With 70% of the upgraded MRE now within 150 m of surface, with the deposit growing to over a million ounces in all categories and with high metallurgical gold recoveries averaging 97%, Tabakorole is shaping up as a significant potential development project in west Africa with substantial up-side. The next stages of exploration at Tabakorole will include resource expansion and infill drilling, as well as programmes to test a number of high-conviction targets across the project. I look forward to updating shareholders on the outcomes of this work in due course.”

Read the article online at: https://www.globalminingreview.com/exploration-development/05102021/altus-strategies-announces-updated-tabakorole-mre/

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African mining news Gold mining news