Altus Strategies Plc has reported results from its recently completed reconnaissance exploration programme at its 100% owned 412km2 Daro licence (Daro project) located in the Tigray Regional State of northern Ethiopia.
The company has indicated that there is potential for volcanogenic massive sulphide (VMS) discovery with a 2 kg float sample returning 34.3% Cu and 0.54g/t Au.
Hard rock gold workings and copper bearing gossans were defined at 2.5km long Teklil prospect. There is a significant artisanal alluvial gold mining area covering approximately 900 m x 500 m.
Steven Poulton, Chief Executive of Altus, commented: “A 2kg sample of gossanous float returning 34.3% copper and 0.54 g/t gold from our initial reconnaissance programme at Daro is highly encouraging. As is the presence of such extensive alluvial, as well as a number of hard rock, artisanal gold mining sites. Furthermore, the discovery of high grade copper mineralised gossans by our field team suggests that the local geology at Daro is prospective for VMS style orebodies. Regionally Daro is located in the ‘Nakfa Terrane’, which hosts a number of significant VMS base metal and gold deposits and mines, including Bisha, a polymetallic mine operated by Nevsun Resources Ltd (TSX: NSU) 190 km north west of Daro, the Harvest and Adyabo projects, being advanced by East Africa Metals Inc. (TSX-V: EAM) 35 km west of Daro and the Asmara project being advanced by Sichuan Road & Bridge Mining Investment Corp Ltd 100 km north of Daro.”
Altus noted that a follow up stream sediment sampling programme across 165 km2 of Daro is now underway.