Altus Strategies provides Agdz exploration update

Highlights:

• Environmental Impact Assessment (EIA') approved at Agdz silver (Ag) and copper (Cu) project.
• Approval of Ministry of Interior represents a key milestone in conversion to mining licence.
• Further silver and copper targets defined by BRGM predictive mapping programme.
• Previously announced rock chip and grab samples results include:
  • 448 g/t Ag and 4.56 % Cu and 287 g/t Ag and 2.01 % Cu from Makarn Prospect.
  • 152 g/t Ag and 4.73 % Cu and 2.96 g/t Au from Daoud Prospect.
  • 190 g/t Ag and 1.90 % Cu and 134 g/t Ag and 4.82 % Cu from Amzwaro Prospect.
  • 12.90 g/t Ag and 13.05 % Cu from Minière Prospect.
• Mapping and Induced Polarisation geophysical survey (IP) to be undertaken.

Steven Poulton, Chief Executive of Altus, commented: "We are pleased to report the successful approval of our EIA and baseline study at our Agdz silver and copper project in Morocco. This approval represents a key milestone in the process of converting the current exploration licence into a mining licence.

"Separately, Altus has been working in partnership with the University of Orléans and the BRGM in France to generate new targets based on cutting edge predictive mapping techniques. This work has defined a 1 km long, northeast striking priority target in the vicinity of the Makarn Prospect, where sampling by the company has yielded multiple high-grade silver and copper results, including 448 g/t Ag and 8.0 % Cu from outcrop. This target will be the next priority for our field team to assess, along with the Minière Prospect, where sampling of spoil from historic mine shafts, adits and exploratory pits has returned grades of up to 13.0 % Cu.

"Morocco is highly prospective for the discovery of silver and copper deposits and Agdz is located just 14 km from a hard rock silver and copper mine, operated by the Moroccan state mining group Managem. We look forward to advancing Agdz and to updating our shareholders on the resumption of our exploration activities."

Agdz Project: EIA

Altus commissioned an independent Moroccan environmental consultancy to undertake the EIA for Agdz. The EIA specifies the baseline environmental conditions and details considerations relevant to a potential conversion of the current exploration permit into a mining licence. The EIA was completed in 1Q20 and, following public consultation, was accepted and approved by the Ministry of the Interior, Administrator of the Draa Tafilalet Region and Regional Centre of Investment. The approval is valid for a period of 5 years and is renewable thereafter. Attainment of the approval of an EIA is a key milestone for the granting of a future mining licence and to undertaking mining activities thereafter.

Agdz Project: Priority Prospects

A predictive mapping programme for Agdz was completed at the University of Orléans 'BRGM Campus' in France. Analysis was undertaken on all surface data compiled by Altus to date, including surface rock and trench results, mapping data and gamma spectrometry and ground magnetic survey results.

The predictive mapping programme was designed to delineate targets in areas of shallow soil cover and where surface weathering or desert varnishing effects may mask the surface expression of mineralisation below. A number of broad targets were identified from the study, encompassing parts of the Amzwaro and Makarn Prospects. One of the priority targets is approximately 1 km long and strikes in a north easterly direction in the northern portion of the Makarn Prospect.

The prospects identified at Agdz to date include:

• The Amzwaro Prospect: Multiple NNE and NNW trending structures within a zone up to 2 km in length and 200 m wide, bound by extensional structures. Historical results include rock chip grades of 4.82 % Cu, 189 g/t Ag and 1.91 g/t Au.
• The Makarn Prospect: A swarm of mineralised dykes, shears and veins which strike NNE over a distance of 2.8 km. Historical results include rock chip grades of 8.00 % Cu and 448 g/t Ag.
• The Minière Prospect: A 150 m long and 90 m wide area of historical underground artisanal mining, exploiting multiple sub-parallel copper bearing zones of alteration. Historical results include rock chip and spoil sample grades of 13.05 % Cu, 12.90 g/t Ag and 0.49 g/t Au.
• The Daoud Prospect: A series of NNW striking quartz veins and pervasive silicification, mapped discontinuously over a 700 m strike length transected by ENE striking chlorite rich alteration zones. Historical results include rock chip grades of 2.71 % Cu, 152 g/t Ag and 2.96 g/t Au.

Read the article online at: https://www.globalminingreview.com/exploration-development/13082020/altus-strategies-provides-agdz-exploration-update/