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Altus Strategies announces further Tabakorole targets

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Global Mining Review,

Altus Strategies Plc has announced the definition of multiple further targets 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 Limited under its joint venture (JV) with Altus.


  • Multiple further targets defined at the Tabakorole gold project in southern Mali.
  • Soil and magnetic anomalies defined with similar signatures to the Tabakorole deposit.
  • 3000 m diamond drilling (DD) programme near completion with results pending.
  • The project hosts a mineral deposit for which a mineral resource estimate (MRE) has been generated (see Altus' news release dated 30 September 2020), comprising:
    • 16.6 million t at 1.2 g/t gold (Au) for 620 000 oz in the inferred category.
    • 7.3 million t at 1.2 g/t Au for 290 000 oz in the indicated category.
  • MRE to be updated with the results from the recent and planned drilling programmes.
  • Altus holds 49% of the project and a 2.5% NSR royalty on Tabakorole gold production.

Steven Poulton, Chief Executive of Altus, commented: "Ground magnetic and soil sampling surveys have successfully defined numerous additional targets at the Tabakorole gold project in southern Mali. Marvel Gold, our ASX listed JV partner, is aggressively advancing the project, with drilling currently targeting near-surface, high-grade intercepts that fall outside of the previously modelled mineralisation. These programmes are expected to contribute to an updated MRE later this year. We look forward to updating shareholders with the results from the current programmes when they are received."

Soil sampling and ground magnetic programmes

Marvel Gold has collected 4267 soil samples and completed 5300 line km of high resolution ground magnetics as part of its ongoing regional exploration programme which includes Tabakorole. All soil samples were subjected to a fire assay for gold and an ultra-low detection 48-element analysis to establish the pathfinder elements in the broader Tabakorole structural corridor.

Selected mineralised pulp samples from the recent Tabakorole drill programmes have been analysed using a portable XRF to better determine the geochemical signature of the deposit. As well as gold, mineralisation at the Tabakorole deposit exhibits anomalism for arsenic (As), tungsten (W) and tellurium (Te). The identification of these pathfinders has helped prioritise the targets defined by the regional soil geochemical programme.

The soil and magnetic programmes have defined three new priority trends at Tabakorole, each of which host numerous targets. These targets are summarised as follows:

  1. Tabakorole Deposit targets: located in close proximity to the existing Tabakorole MRE and exhibiting similar signatures.
  2. Approximately 6 km long Groot Trend: located in the same structural trend as the Tabakorole deposit, with significant Au, W and Te anomalies.
  3. Approximately 5 km long Asgard Trend: located on the southern boundary of the Tabakorole structural corridor, with significant As, W and Te anomalies.

It is notable that historic reverse circulation (RC) drilling by previous operators at Tabakorole within the newly defined Asgard trend reportedly returned a best intersect of 9.8 g/t Au over 14 m (not true width of interval).

The targets generated from the soil sampling and high-resolution ground magnetic programmes will now be followed up with mapping and rock chip sampling, where outcrop is encountered. This work along with the structural data, interpreted from the ground magnetics, will be used to prioritise drilling targets later this year.

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