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Altus Strategies announces high-grade drilling results at Diba NW

Published by
Global Mining Review,


Altus Strategies Plc has announced the intersection of high gold grades from reverse circulation (RC) drilling at the Diba NW prospect, which forms part of the company's 100% owned, 105 km2 combined Diba & Lakanfla gold project in western Mali. The project hosts numerous gold prospects including a shallow-dipping, near-surface gold deposit (the Diba deposit) and the Diba NW prospect located on the Diba licence, as well as the Lakanfla Central and Lakanfla West prospects, located on the Lakanfla licence, approximately 5 km east of the Diba licence.

Highlights

  • High gold (Au) grades from RC drilling at the Diba NW prospect in western Mali including:
    • 8.74 g/t Au over 7 m from 119 m (not true width).
    • 4.76 g/t Au over 12 m from 102 m (not true width).
    • 1.16 g/t Au over 29 m from 126 m (not true width).
  • Programme of approximately 10 000 m of RC and diamond drilling (DD) in progress to:
    • Test the strike and down-dip potential of the Diba NW prospect.
    • Test the extent of the high-grade zone within the Diba Deposit.
    • Test the potential of the Lakanfla Central prospect.
    • Expand the current mineral resource estimate (MRE) of the Diba Deposit.
    • Potentially generate a maiden MRE at the Diba NW prospect.
    • Potentially generate a maiden MRE at the Lakanfla Central prospect.
  • Project MRE and preliminary economic assessment (PEA) to be updated with results.
  • Diba is strategically located in a world-famous gold belt that hosts numerous opencast mines.

Steven Poulton, Chief Executive of Altus, commented: “We are delighted to report on these high-grade results from the Diba NW prospect. Intersections of 4.76 g/t Au over 12 m from 102 m and 8.74 g/t Au over 7 m from 119 m (not true widths) are excellent. Diba NW is located 0.5 km northwest of the Diba Deposit and is modelled as a coherent series of shallow-dipping, near-surface lenses of gold mineralisation along a discontinuous strike length of approximately 1.5 km. These new high-grade intersections indicate the presence of potentially enriched zones, or sub vertical mineralised structures, at Diba NW which will be the subject of follow-up exploration.

“The current drilling programme comprises up to 10 000 m of DD and RC and is designed to test the potential down-dip and along-strike extensions of the Diba Deposit and the Diba NW prospect. Drilling is also planned at the Lakanfla Central prospect at the company's 100% owned Lakanfla licence, located approximately 5 km east of the Diba licence. Once completed, the drilling results will feed into an updated MRE for the Diba Deposit and a potential maiden MRE for the Diba NW and Lakanfla Central prospects. This work will be followed by an updated Preliminary Economic Assessment for the project. We look forward to updating shareholders as further results are received.”

Diba licence: drilling programme

The drilling programme is being undertaken by Capital Drilling Limited and comprises up to 10 000 m of DD and RC across the Diba Deposit, the Diba NW prospect and the Lakanfla Central prospect. To date, approximately 5400 m of RC and 1360 m of DD has been completed.

The DD programme is primarily testing the extent of the high-grade zone of mineralisation within the current Diba Deposit, as well as the down-dip extension of the mineralised lenses. In addition, the DD programme is producing orientated core to enable a better structural understanding of the Diba Deposit and samples for density measurements, to better understand any variations between the oxide, transitional and fresh rock domains.

The RC programme is primarily targeting on strike and down-dip extensions of the known lenses of mineralisation at both the Diba Deposit and Diba NW prospect. In addition, RC holes will test the potential of the Lakanfla Central prospect.

Read the article online at: https://www.globalminingreview.com/exploration-development/28012022/altus-strategies-announces-high-grade-drilling-results-at-diba-nw/

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