Altus Strategies Plc has announced the commencement of a 3800 m drilling programme at its Lakanfla gold project in western Mali. The programme is being funded by Marvel Gold Limited under the joint venture (JV) with Altus.
Highlights:
- JV-financed 3800 m drill programme underway at the Lakanfla project in western Mali.
- Targeting a karst-style target analogous to Yatela and the FE3 / FE4 deposits at Sadiola.
- Lakanfla hosts extensive hard rock artisanal gold workings.
- Historic drilling has returned high grade intersections, including (not true widths of interval):
- 5.1 g/t Au over 26 m from 32 m.
- 4.3 g/t Au over 18 m from 34 m.
- Passive seismic geophysical survey across karst-style targets to commence shortly.
- Marvel is earning an initial 33% interest in the project under the JV.
- Altus holds a 2.5% Net Smelter Return (NSR) gold royalty on Lakanfla.
Steven Poulton, Chief Executive of Altus, commented: "We are excited to announce the commencement of a 3,800 m drilling programme at our Lakanfla gold project in western Mali. The drilling is targeting a karst-style geological model, defined by an approximate 7 km long gravity-low that surrounds a granite intrusion. Lakanfla hosts extensive hard rock artisanal gold workings and historic shallow drilling has intersected up to 5.1 g/t Au over 26 m. The karst-style model represents an exciting target at Lakanfla and is analogous to certain pits at Sadiola and the former Yatela gold mine, located 6 km and 30 km to the northwest respectively.
"The programme is being funded by our ASX-listed JV partner Marvel Gold, which is earning an initial 33% interest in the project. We look forward to updating shareholders on the results from the drilling in due course."