Mining Royalty Business Encouraged by Gold Drilling Results

18th February 2021 | Altus Strategies PLC

Mining royalties business Altus Strategies has published encouraging drilling results from its investment in Tabakorole, Mali. The results extend the potential strike of the prospect by at least 150m, to more than 3km. Altus holds a 49% equity interest and 2.5% Net Smelter Return (“NSR”) royalty on the Project.

AIM-listed Altus Strategies is a Project & Royalty Generator in the mining sector with a focus on Africa. The film below was shot in late 2020 and provides an overview of the business and its unique strategy.

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Announcement in full:

 

Drilling Extends Tabakorole Gold Deposit, Southern Mali

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces that reverse circulation (“RC”) drilling has extended the strike length of the FT Prospect by at least 150m, to beyond 3km at the Tabakorole gold project (“Tabakorole” or the “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) (“Marvel Gold”) under its joint venture (“JV”) with Altus.

Highlights:

  • FT Prospect extended to over 3km at the Tabakorole gold project, southern Mali
  • Intersections include (down-the-hole and not true width):
    • 2.0 g/t over 23m from 178m
    • 1.24 g/t over 24m from 13m
    • 0.81 g/t over 25m from surface
  • Initial results from first 8 of 39 holes of 6,300m RC programme received to date
  • Air-core (“AC”) drilling to test potential 1.3km long northwest extension to commence shortly
  • High resolution ground magnetic survey underway
  • Altus holds a 2.5% NSR royalty on Tabakorole gold production

Steven Poulton, Chief Executive of Altus, commented:

“The Tabakorole project in southern Mali currently hosts a significant gold resource which is open along strike in both directions, and at depth. These are very encouraging initial drilling results from the resource expansion programme. They extend the potential strike of the FT Prospect to the southeast by at least 150m, to more than 3km. The results from the balance of the drilling programme, which also includes the potential northwest strike extension, are expected over the coming weeks.

“In the meantime, our JV partner on the project, ASX-listed Marvel Gold, has already commenced a high resolution magnetic survey and will shortly commence an AC drilling programme. These programmes are designed to define further potential strike extensions, as well as potential parallel targets. We look forward to updating shareholders once the final results from the current drilling programme are received.”

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