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Altus Strategies announces further Tabakorole 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 Limited under its JV with Altus.

Highlights

  • Further encouraging drilling results from the Tabakorole gold project in southern Mali.
  • Results from five diamond drill (DD) holes (totalling 997 m) from the central zone.
  • Multiple shallow intersections outside of the mineral deposit for which a mineral resource estimate (MRE) has been modelled.
  • Intersections include (not true width of intervals):
    • 2.6 g/t gold (Au) over 21 m from 70 m.
    • 1.3 g/t Au over 9 m from 8 m.
    • 1.9 g/t Au over 8 m from 80 m.
  • Results are expected to increase the volume and grade of the resource in the central zone.
  • Further results pending from seven DD holes (totalling 1115 m) in the north-west zone.
  • Tabakorole hosts a mineral deposit for which an MRE has been generated (see news release dated 30 September 2020), 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.
  • Upgraded MRE for Tabakorole expected to be prepared in September 2021.
  • Altus holds 49% of the project and a 2.5% NSR royalty on Tabakorole gold production.

Steven Poulton, Chief Executive of Altus, commented: "Further encouraging drilling results have been received from the Tabakorole gold project in southern Mali. Of particular significance, is the continued shallow and higher-grade intersections from the central zone of the deposit. Marvel Gold, our ASX-listed JV partner, is aggressively advancing Tabakorole through a number of drilling programmes, which are expected to contribute to an updated mineral resource estimate in late September. We look forward to updating shareholders with further drilling results as they are received."

Drill programmes update

In early 2021, Marvel completed 5400m of reverse circulation (RC) drilling and 900 m of DD designed to expand the current MRE. These programs successfully extended the strike length of the Tabakorole deposit to approximately 3.2 km. Marvel has recently completed a further 3240 m of DD to follow up on the encouraging results from the central zone and improve the understanding of the north-west zone. Drill results have been received for the final 997 m of drilling in the central zone, with the best new intercept being 2.6 g/t Au over 21 m from 70 m (hole 21TBKDD014). These results have exceeded the previous results from this area, which form part of the current MRE. In addition, a number of holes in the central zone intersected shallow, higher-grade mineralisation which sits outside the current MRE.

Results are currently pending from seven DD holes (totalling 1115 m) in the north-west zone, where (as previously reported by the company) drilling by Marvel intersected 2 g/t Au over 16 m from 75 m and 5.8 g/t Au over 6 m from 61 m. The combined 9745 m of RC/DD undertaken by Marvel in 2021 will feed into an updated resource statement (in accordance with the JORC code), which is expected to be completed in late September 2021.

Read the article online at: https://www.globalminingreview.com/exploration-development/16082021/altus-strategies-announces-further-tabakorole-drilling-results/

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