Altus Strategies: Increase in Gold Resource at Tabakorole Project

30th September 2020

Substantial Increase in Gold Resource at Tabakorole Project, Southern Mali

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF), announces the results of a Mineral Resource Estimate (“MRE”) at the Company’s Tabakorole gold project (“Tabakorole” or the “Project”) in southern Mali. The MRE was prepared in accordance with the JORC Code, an acceptable foreign code for the purposes of NI 43-101 (see Glossary at end), and was commissioned by Marvel Gold Limited (ASX: MVL) (“Marvel”) under the joint venture (“JV”) with Altus.

Highlights:

  • FT Prospect at Tabakorole hosts a Mineral Resource Estimate comprising:
    • 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
    • 54% increase in ounces and 20% increase in grade from historical mineral resource
    • 43% of the MRE situated within 100m of the surface
    • Gold mineralisation remains open along strike and at depth
  • Preliminary metallurgical studies to be undertaken
  • Drilling to test multiple resource expansion targets to commence in Q4 2020
  • Marvel is earning an initial 33% interest in the Project under the JV
  • Altus holds a 2.5% NSR gold royalty on Tabakorole

Steven Poulton, Chief Executive of Altus, commented:

“We are delighted to announce this substantial gold resource at the Tabakorole gold project in southern Mali. The recent drilling undertaken by Marvel, as part of their phase-1 earn-in on the Project, has resulted in a 54% increase in gold ounces and a 20% higher grade than the previous historical resource.

“The MRE is located on the 2.9km long FT Prospect, which remains open along strike and at depth. Recently reported aircore drill results, including 6.2 g/t over 6m from 14m indicate the clear potential for the strike length of the FT Prospect to be extended and for the resource to grow. Marvel have advised that they intend to drill these and other targets as the JV moves in to phase-2 in the fourth quarter of this year.

“Tabakorole represents a significant regional gold discovery and we look forward to updating shareholders with further news as the JV progresses.”

We recently interview Altus CEO Steve Poulton about the company’s recent progress and forward looking strategy.

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