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Altus Strategies announces strategic review of Bikoila Iron Project

Published by
Global Mining Review,


Altus Strategies Plc has announced the completion of a strategic review by independent consultants Mining Plus UK Ltd on the company's 97% owned high-grade Bikoula iron (Fe) project located in southern Cameroon. The strategic review will be used to determine the next steps for the development of the project.

Highlights

  • Strategic review of high-grade Bikoula iron project in southern Cameroon.
  • Processing, product specification, development and shipment options reviewed.
  • Historical drilling includes 30.8 m at 57.9% Fe from 3.8 m (potential true width of interval).
  • Bikoula hosts a deposit with a historic independent JORC compliant mineral resource estimate of 46 million t at 44% Fe.
  • At least 75% of the 13 km long priority target area remains untested.
  • Prior metallurgical test-work yielded 62.26% Fe concentrate using gravity separation.
  • Bikoula is located approximately 350 km by road from recently completed deep water port.
  • Environmental and social impact assessment study has been completed.

Steven Poulton, Chief Executive of Altus, commented: "We are pleased to report that independent consulting firm Mining Plus has completed a strategic economic review of the company's high grade Bikoula iron project in southern Cameroon. The project hosts a substantial colluvial iron weathered blanket, which rests above a primary iron deposit. The strategic review examined the processing, product specification and transportation options for Bikoula and will assist the company in advancing the project through next stages of development.

''As previously reported, preliminary metallurgical test-work on representative samples from Bikoula has yielded a high grade 62.26% Fe concentrate, using gravity separation alone. With only 25% of the 13 km long strike length of Bikoula having been tested to date, we believe the project has considerable exploration upside potential. Recent infrastructure improvements in the region, including a containerised deep-water port at Kribi as well as significant road improvements, are expected to further enhance the economics of the project.

"The project's economics are supported by the price of iron ore, which has traded above US$100/t since June 2020. The company believes Bikoula represents an attractive standalone iron asset and we look forward to providing an update on the project in due course."

Read the article online at: https://www.globalminingreview.com/exploration-development/17032021/altus-strategies-announces-strategic-review-of-bikoila-iron-project/

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African mining news Iron ore mining news