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Altus Strategies extends drilling at Tabakorole gold project

Published by
Global Mining Review,


Altus Strategies Plc has announced that reverse circulation (RC) drilling has extended the strike length of the FT Prospect by at least 150 m, to beyond 3 km 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 Ltd under its joint venture (JV) with Altus.

Highlights

  • FT Prospect extended to over 3 km at the Tabakorole gold project, southern Mali.
  • Intersections include (down-the-hole and not true width):
    • 2 g/t over 23 m from 178 m.
    • 1.24 g/t over 24 m from 13 m.0.81 g/t over 25 m from surface.
  • Initial results from first 8 of 39 holes of 6300 m RC programme received to date.
  • Air-core (AC) drilling to test potential 1.3 km long northwest extension to commence shortly.
  • High resolution ground magnetic survey underway.
  • Altus holds a 2.5% NSR royalty on Tabakorole gold production.

Steven Poulton, Chief Executive of Altus, commented: "The Tabakorole project in southern Mali currently hosts a significant gold resource which is open along strike in both directions, and at depth. These are very encouraging initial drilling results from the resource expansion programme. They extend the potential strike of the FT Prospect to the southeast by at least 150 m, to more than 3 km. The results from the balance of the drilling programme, which also includes the potential northwest strike extension, are expected over the coming weeks.

"In the meantime, our JV partner on the project, ASX-listed Marvel Gold, has already commenced a high-resolution magnetic survey and will shortly commence an AC drilling programme. These programmes are designed to define further potential strike extensions, as well as potential parallel targets. We look forward to updating shareholders once the final results from the current drilling programme are received."

Tabakorole resource expansion drill programme

The 6300m RC drilling programme at Tabakorole has been undertaken by Marvel Gold as part of the JV Stage-3 earn-in. The programme is designed to increase the existing resource by extending gold mineralisation along strike in both directions (to the northwest and the southeast). There are also a number of holes within the known strike length of the FT Prospect which are designed to increase resource confidence or further delineate the interpreted high-grade plunging shoots within the orebody.

Drill hole 21TBKRC-001 intersected 2 g/t gold (Au) over 23 m, confirming the continuity of the deposit to the southeast, whilst also terminating in mineralisation. Holes drilled in the central parts of the deposit included intercepts of 1.2 g/t Au over 24 m from 13 m (hole 20TBKRC-002), 0.8 g/t Au over 25 m from 4 m (hole 20TBKRC-002A) and 0.8 g/t Au over 14 m from 17 m (hole 20TBKRC-003). These holes have improved the understanding of the south-eastern and near surface portion of the deposit.

Marvel Gold has planned an AC drilling programme to test the continuation of mineralisation to the southeast as well as a diamond drilling program to infill the area between the end of the resource and hole 21TBKRC-001.

Read the article online at: https://www.globalminingreview.com/exploration-development/18022021/altus-strategies-extends-drilling-at-tabakorole-gold-project/

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African mining news Gold mining news