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Altus Strategies announces further Tabakorole Gold drilling results

Published by
Global Mining Review,


Altus Strategies Plc has announced further encouraging drilling results from its joint venture (JV) at the Tabakorole gold project located in southern Mali. 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 Gold Ltd under its JV with Altus.

Highlights

  • Further encouraging drilling results from the Tabakorole gold project in southern Mali.
  • 19 hole diamond drilling (DD) programme, totalling 3400 m, is underway.
  • Results from first 6 holes received to date for 1126 m include (not true width of intervals):
    • 2 g/t gold (Au) over 13 m from 174 m.
    • 3.9 g/t Au over 4 m from 110 m.
    • 2.8 g/t Au over 4 m from 29 m.
  • 177 hole air core drilling (AC) programme completed, totalling 5148 m.
  • Results from AC drilling include (not true width of intervals):
    • 2.7 g/t over 4 m from 20 m.
    • 1.3 g/t Au over 4 m from 8 m.
  • AC holes drilled approximately 3 km southeast of the main Tabakorole deposit.
  • The project hosts a mineral deposit for which a mineral resource estimate (MRE) has been generated, comprising:
    • 16.6 million t at 1.2 g/t Au for 620 000 oz in the inferred category.
    • 7.3 million t at 1.2 g/t Au for 290 000 oz in the indicated category.
  • MRE to be updated with the results from the recent and planned drilling programmes.
  • 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 delighted to announce further drill holes returning encouraging grades over good widths within the main deposit of the Tabakorole gold project in southern Mali. Of particular significance, is the discovery of a new zone of mineralisation 3 km to the southeast of the main deposit. This discovery represents just one of numerous targets that have been defined to date, based on soil and geophysical anomalies, and underscores our confidence that the deposit at Tabakorole will continue to grow. Marvel Gold, our ASX-listed JV partner, is aggressively advancing the project through a number of drilling programmes and these are expected to contribute to an updated MRE later in the year. We look forward to keeping shareholders up to date with further results as they are received."

Update on drill programmes

Marvel Gold expects to have completed approximately 9000 m of DD and reverse circulation drilling (RC) at the project by August 2021. A 3400 m DD programme is currently in process. This programme is designed to infill mineralisation in the central zone of the deposit and provide further definition in the northwest zone. Altus understands that Marvel Gold expects to incorporate the results from this programme and the previous 5400 m RC drilling and 900 m DD programmes into an updated resource statement (in accordance with the JORC code) later this year.

Marvel Gold has also completed a 5148 m AC programme, to test potential extensions to the Tabakorole deposit, as well as potential satellite targets as defined by historical soil geochemistry and ground magnetic anomalies. This programme has confirmed mineralisation approximately 3 km southeast of the main deposit. The area hosts a number of hard rock artisanal gold workings and a historic drill hole (2005) undertaken by a previous operator, which intersected 1.2 g/t Au over 12 m (not true width of interval). Results from the AC programme completed by Marvel Gold include 1.3 g/t Au over 4 m at (from 8 m) and 2.7 g/t Au over 4 m (from 20 m) with the hole ending in mineralisation (not true width of intervals). The artisanal workings reinforce the potential prospectivity of this target. It is also noted that numerous additional targets exist within the licence that have even stronger multi-element signatures than this discovery area.

Read the article online at: https://www.globalminingreview.com/exploration-development/08072021/altus-strategies-announces-further-tabakorole-gold-drilling-results/

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