Exploration Expanded At Southern Mali Gold Project
Altus Strategies Plc (AIM: ALS, TSXV: ALTS, OTCQX: ALTUF) has defined multiple additional 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 (ASX: MVL) under its joint venture with Altus.
Highlights:
- Multiple further targets defined at the Tabakorole gold project in southern Mali
- Soil and magnetic anomalies defined with similar signatures to the Tabakorole deposit
- 3,000m 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 comprises:
- 16,600,000 tonnes at 1.2 g/t Au for 620,000 ounces in the Inferred category
- 7,300,000 tonnes at 1.2 g/t Au for 290,000 ounces 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.
“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,” Chief Executive, Steven Poulton, said.
“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.”
Marvel Gold has collected 4,267 soil samples and completed 5,300 line kilometres of high resolution ground magnetics as part of its ongoing regional exploration programme which includes Tabakorole.
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, tungsten and tellurium. 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:
- “Tabakorole Deposit” targets – located in close proximity to the existing Tabakorole MRE and exhibiting similar signatures
- Approximately 6km long “Groot Trend” – located in the same structural trend as the Tabakorole deposit, with significant Au, W and Te anomalies
- Approximately 5km 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 14m (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.
Update on drill programmes
Marvel Gold expects to has completed approximately 9,000m of RC and DD by August 2021. To date, approximately 2,100m of the planned 3,000m DD programme has been completed, with assay results pending. Altus understands that Marvel Gold expects to release an upgraded resource statement in accordance with the JORC code at Tabakorole later this year.
For further information please visit: https://www.altus-strategies.com/
