Identifies Four High Priority Exploration Targets
Altus Strategies Plc (AIM:ALS, TSX-V:ALTS) has used remote sensing technology to unveil numerous high priority gold targets across all four of its projects in the Eastern Desert of Egypt.
Covering 1,565 sq. km, the Projects were recently awarded to the company’s 100% owned subsidiary Akh Gold Ltd as part of a competitive international bid round undertaken by the Egyptian Mineral Resource Authority (EMRA).
The remote sensing studies of satellite imagery identified major historical gold mining camps identified, including the Bakriyah mining district and more than 100 potential hard rock gold workings.
Chief Executive, Steven Poulton, said a field team is being assembled to commence systematic exploration in Q2 2021
“We are delighted to report the identification of numerous high priority gold exploration targets across all four of our recently granted Projects, which total 1,565 sq. km in the prospective Eastern Desert of Egypt,” Mr Poulton said.
“The remote sensing programme was undertaken by the Altus team and has defined over 100 interpreted historical hard rock gold workings, including at least two major historical mining camps,” Mr Poulton said.
“One of these camps is at Bakriyah, where historical reports indicate that mining activities extended discontinuously across a significant area. Some of the interpreted hard rock gold workings are clearly visible in the satellite imagery, as arrays of pits and trenches, which can be up to 375m long.
‘’We are currently establishing our technical team in Egypt and plan to commence fieldwork shortly to follow up on these priority targets. I look forward to updating shareholders on these programmes in due course.”
The priority targets are:
- Wadi Jundi Gold Project (696 sq. km):
- Hosts an historical gold mine, mapped by EMRA
- 28 potential hard rock gold workings and seven mapped gold occurrences
- Located within a 10 km long mapped ophiolite belt
- Bakriyah Gold Project (348 sq. km)
- Located in the historical ‘Bakriyah’ gold mining district
- 49 potential hard rock gold workings and eight mapped gold occurrences
- Located within and proximal to numerous mapped granitic intrusions
- Abu Diwan Gold Project(346 sq. km):
- 24 potential hard rock gold working and three mapped gold occurrences
- Potential vein workings up to 375m in strike length
- Locate in a mapped ophiolite belt
- Wadi Dubur Gold Project(175 sq. km):
- 39 potential hard rock gold working and one mapped gold occurrence
- Potential vein workings up to 240m length
- Located in mapped ophiolite belt with granitic intrusions and strike-slip structures.
