Altus Strategies provides exploration update

Highlights

• 5000 m of trenching underway at Laboum gold project in Cameroon.
• Rock chip sampling of quartz vein discovery has returned a best grade of 36.20 g/t Au.
• 17 km long shear zone within Birimian-age metavolcanic and metasedimentary formations.
• Four gold prospects defined by exploration surveys and artisanal gold workings.
• Results from trenching to guide maiden drilling programme.

Steven Poulton, Chief Executive of Altus, commented: "Laboum is an exciting gold system that has never been drilled tested. The Project comprises a 17 km long gold-bearing shear zone within Birimian age metavolcanic and metasedimentary formations that hosts a number of hard-rock and alluvial artisanal gold workings. Exploration by Altus to date has included high density stream, soil and geophysical surveys. This work has defined four priority gold prospects, of between 1.6 km and 7.0 km in length. Altus has recently discovered a quartz vein array at the Tapare prospect, which has returned a highest grade of 36.20 g/t Au from rock chip sampling. Previous sampling of sheared metasediments rocks at the Landou Prospect has returned a best grade of 6.86 g/t Au.

"This 5000 m trenching programme will test the hard rock potential of several key prospects at Laboum, ahead of a maiden drilling programme planned for 2021. We look forward to updating shareholders on this current phase of work."

Trench sampling programme

Altus has commenced a systematic reconnaissance trenching and sampling programme, with 13 trenches totalling approximately 5000 m being planned. The trenches are orientated perpendicular to the general north-easterly trend of the Laboum shear zone and associated gold-in-soil anomalies. The trenches will be between 50 m and 500 m in length and excavated to bedrock, which is anticipated to be at between 1 m and 1.5 m depth. The walls of the trenches will be geologically mapped and then channel sampled.

Quartz vein discovery at Tapare Prospect

As part of the current phase of exploration at Laboum, the company's field teams have discovered a significant new array of quartz veins at the Tapare prospect. The discovery comprises 21 quartz veins, ranging from between 10 m to 345 m in length, within a 150 m wide zone. The veins are hosted in metasiltstone and metagreywacke formations. A total of 141 reconnaissance samples have been collected as part of the current field programme at Laboum of which 27 samples were collected from the Tapare discovery, including vein samples which returned grades of up to 36.20 g/t Au and 1.13 g/t Au.

Priority exploration prospects

Four priority prospects have been identified to date at Laboum including:

The Landou Prospect

A 4.8 km long and northeast striking gold in soil geochemical anomaly. Rock chip assay results from quartz veins include grades of 24.50 g/t Au and 16.15 g/t Au with 6.86 g/t Au returned from a sample of metasedimentary host rock. Cross-cutting northeast, east and northwest striking structures have been interpreted from ground magnetics. Hard rock and alluvial artisanal gold workings are present within the prospect.

The Kalardje Prospect

A 2.5 km long and northeast striking gold in soil geochemical anomaly. Rock chip assay results of quartz veins include grades of 2.37 g/t Au, 2.03 g/t Au and 1.15 g/t Au. The gold in soil anomaly follows a major sheared and altered metasedimentary contact, coincident with a strong ground magnetics anomaly.

The Tapare Prospect

A 7 km long and northeast striking gold in soil geochemical anomaly. Rock chip assay results of quartz veins include grades of 36.20 g/t Au and 1.13 g/t Au. The gold in soil anomaly is coincident with a mylonite-metasediment contact. The prospect hosts a 345 m long northeast striking zone of quartz veining which has been mapped as up to 150 m wide. Cross-cutting northeast, east and northwest striking structures have been interpreted from ground magnetics.

The Rey Prospect

A 1.6 km long and northeast striking prospect, defined by the strike of hard rock and alluvial gold workings, proximal to a granite-metasediment contact. Cross-cutting northeast and northwest striking structures are interpreted from ground magnetics. The prospect is outside of the area previously explored by soil sampling.

Read the article online at: https://www.globalminingreview.com/exploration-development/13102020/altus-strategies-provides-exploration-update/