Altus Strategies: Significant Gold Resource at Diba Project, Mali
Significant Gold Resource at Diba Project, Western Mali
Altus Strategies Plc (AIM: ALS & TSX-V: ALTS) (”Altus” or the ”Company”), the mining royalty company generating a diversified and precious metal focused portfolio of assets through discovery, investment and acquisition, announces the results of an independent Mineral Resource Estimate (“MRE”) at the Company’s 100% owned Diba gold project (“Diba” or the “Project”). Diba is strategically located 13km south of the multi-million ounce Sadiola gold mine, in the world famous ‘Kenieba Window’ in western Mali (” Mali “). The MRE has been prepared by independent consultants Mining Plus UK Ltd (“Mining Plus”) and is reported in accordance with National Instrument 43-101 (“NI 43-101”), as part of an ongoing Preliminary Economic Assessment (“PEA”) for an open-pit heap-leach gold mine at the Project.
- Diba gold project hosts a Mineral Resource in western Mali comprising:
- 4,834,000 tonnes at 1.39 g/t Au for 217,000 ounces in the Indicated category
- 5,479,000 tonnes at 1.06 g/t Au for 187,000 ounces in the Inferred category
- Oxide-hosted ounces represent more than 50% of the MRE
- 637% increase in Inferred Resource in MRE from previous historic resource
- Mining Plus is finalising a PEA to assess the potential for an open-pit gold mine
- Shallow-dipping, near-surface resource covering a compact area of 700m x 700m
- Drill results include 5.36 g/t Au over 13.0m and 9.60 g/t Au over 8.0m (not true widths)
- Resource is open down dip with seven further prospects yet to be systematically drill tested
Steven Poulton, Chief Executive of Altus, commented:
“We are delighted to announce this significant initial Mineral Resource at our Diba gold project in western Mali, with more than 50% being classified as oxide material. Mineralisation at Diba consists of a series of shallow-dipping stacked lenses within a compact footprint of approximately 700m by 700m. The mineralisation is hosted in an area of elevated topography and typically starts within 8m of the surface and has been modelled to a depth of 225m, where it remains open down dip. Substantial exploration potential exists for further discoveries at Diba, with seven priority prospects defined to date which have yet to be systematically drill tested. All these prospects are located within 7km of the current Mineral Resource.
“Following the recent strategic investment in Altus by La Mancha, we will now accelerate our exploration programmes at Diba to test the significant potential to grow the project’s resource. In the meantime, a Preliminary Economic Assessment for an open-pit oxide gold mine on the current resource is underway. We look forward to updating shareholders in due course.”