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Altus Strategies announces final drilling results

Published by
Global Mining Review,


Altus Strategies Plc has announced the final results from a 6300 m reverse circulation (RC) drilling programme at the Tabakorole gold project located in southern Mali. The results include the discovery of a potential new parallel zone of mineralisation, as well as an extension of the current strike length of the project. 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

  • RC drilling discovers potential parallel zone at Tabakorole gold project in southern Mali.
  • Intersections from 20 RC holes (2760 m) including (down-the-hole and not true width):
    • 2 g/t over 16 m from 75 m (potential new parallel zone, 50 m east of the deposit).
    • 5.8 g/t over 6m from 61 m (anticipated to improve the modelled grade of the deposit).
    • 2 g/t over 15 m from 25 m (extending the deposit strike length to the northwest).
    • 1.5 g/t over 28 m from 121 m.
  • Project hosts a mineral deposit for which a mineral resource estimate (MRE) has been generated (see news release dated 30 September 2020), comprising:
    • 16 600 000 t at 1.2 g/t gold (Au) for 620 000 oz in the inferred category.
    • 7 300 000 t at 1.2 g/t Au for 290 000 oz in the indicated category.
  • Results from an additional five diamond drill holes to infill the MRE are expected in April.
  • 6000 m aircore (AC) drilling programme underway to test potential strike extension.
  • Altus holds a 2.5% NSR royalty on Tabakorole gold production.

Steven Poulton, Chief Executive of Altus, commented: "These drilling results from the Tabakorole gold project in southern Mali are excellent. An intersection of 2 g/t over 16m from 75 m located approximately 50 m east of the current deposit is significant as it represents the discovery of a potential new and parallel gold zone. Other results from this programme have successfully increased the strike length of the known deposit. Tabakorole currently hosts a significant gold resource, which remains open along strike in both directions as well as at depth.

"Our JV partner, ASX-listed Marvel Gold, is currently undertaking a five hole diamond drilling programme and a 6000 m AC programme, in the southeast of the deposit, to infill the current MRE and test potential strike extensions respectively. We look forward to updating shareholders with the results from these programmes when they are received."

Read the article online at: https://www.globalminingreview.com/exploration-development/23032021/altus-strategies-announces-final-drilling-results/

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African mining news Gold mining news