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Altus Strategies announces new discovery at Diba Gold Project

Published by
Global Mining Review,


Altus Strategies Plc has announced the delineation of a significant and coherent, shallow-dipping and near-surface potential gold deposit (Diba NW), located approximately 1.5 km northwest of the primary deposit at its 100% owned Diba gold project in western Mali. Diba NW has been defined from the combination of results from the recently completed 10 308 m reverse circulation (RC) drilling programme and historical project data.

Highlights

  • Shallow dipping gold discovery 1.5 km northwest of the Diba Deposit in western Mali.
  • Diba NW is currently 550 m long, 150 m wide and open along strike and down dip.
  • Intersections at Diba NW include (down-the-hole and not true widths):
    • 1.45 g/t gold (Au) over 22 m from 55 m downhole.
    • 1.87 g/t Au over 10 m from 8 m downhole.
  • Further encouraging intersections also received from the Diba Deposit include:
    • 8.50 g/t Au over 8 m from 107 m downhole.
    • 2.30 g/t Au over 11 m from 7 m downhole.
  • The current mineral resource estimate (MRE) for the Diba Deposit (see news release dated 8 July 2020) comprises:
    • 4 834 000 t at 1.39 g/t Au for 217 000 oz in the indicated category.
    • 5 479 000 t at 1.06 g/t Au for 187 000 oz in the inferred category.
  • Ground geophysics and follow up drilling at Diba are being planned.
  • Diba is strategically located in a world-famous gold belt that hosts numerous opencast mines.

Steven Poulton, Chief Executive of Altus, commented: "We are delighted to announce the definition of a coherent series of shallow-dipping near-surface lenses of gold mineralisation at Diba NW in western Mali. The prospect is located just 1.5 km northwest of the existing Diba Deposit. Intersections at Diba NW include 1.45 g/t Au over 22 m (not true width) from 55 m downhole, within an area that is currently 550 m long by 150 m wide. The highest grades appear to be situated on the northern margin of an igneous intrusion, which is interpreted to be up to 1.5 km long. Diba NW remains open along strike and down dip.

"The proximity of Diba NW to the existing Diba Deposit is highly encouraging. Further drilling will be undertaken in order to determine if a resource can be defined at Diba NW.

"Furthermore, we are pleased to report additional and encouraging results from the final batch of assay data from drilling at the Diba Deposit, including 8.50 g/t Au over 8 m from 107 m downhole and 2.30 g/t Au over 11 m from 7 m downhole. The results from the recent drilling programme at the Diba Deposit will be incorporated into a future updated MRE and preliminary economic assessment. Our technical team is currently planning a ground magnetic survey to guide the next phase of drilling at Diba. We look forward to updating shareholders as we advance the project."

Diba drilling programme

The RC drilling programme was completed by Capital Drilling Ltd and comprises a total of 10 308 m (114 holes). A total of 4932 m was drilled (57 holes) in and around the Diba Deposit testing potential up dip, down dip and along strike extensions, as well as infilling areas within the MRE envelope to increase confidence in the MRE. A further 5376 m was drilled (57 holes) to test a number of prospects located within 3 km of the Diba Deposit, including 40 holes for 3725 m at the Diba NW prospect. All of the drill holes in the programme were drilled at -60° inclination and ranged between 50 m to 270 m in length. Drilling has been orientated perpendicular to the strike of the Diba Deposit and the interpreted structural orientation of the target areas.

Diba NW: drilling results

The Diba NW drill target was established from a detailed review of historic data by the company's technical team, which included historic soil, termite mound and auger sampling and limited rotary air blast (RAB), RC and diamond drilling (DD). A significant gold anomaly exists at surface across an approximate 1.5 km by 0.9 km area at Diba NW. The anomaly correlates to the approximate extent of the intrusion, as interpreted from historic ground induced polarisation/resistivity survey.

In total, 40 holes for 3725 m of drilling were completed by the company at Diba NW. Results from the final nine RC drill holes (900 m) have been received and are detailed in this news release and include (intersections are down-the-hole and not true widths):

  • 1.45 g/t Au over 22 m from 55 m downhole (20KSRC-086).
  • 1.87 g/t Au over 10 m from 8 m downhole (20KSRC-088).
  • 0.89 g/t Au over 12 m from 24 m downhole (20KSRC-087).
  • 0.80 g/t Au over 8 m from 1 m downhole (20KSRC-089).

Read the article online at: https://www.globalminingreview.com/exploration-development/11022021/altus-strategies-announces-new-discovery-at-diba-gold-project/

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