Altus Strategies Plc (AIM: ALS) (TSX-V: ALTS) has identified new exploration targets at Tabakoorole Gold Project in Mali after completing a comprehensive review of historical exploration data.
A number of priority drill targets have been defined both within the main NW-SE trend of the existing FT prospect as well as potential extensions to the northeast.
The study uncovered several historical drill holes which intersected mineralisation off the main trend of the FT prospect, including 12m at 3.40 g/t Au and 28m at 1.01 g/t Au, which Altus says represent priority areas for follow up.
Chief Executive, Steven Poulton, said a new, approximately 2.5 km long prospect – located 600m to the south of and parallel to the FT prospect – has also been defined from historical airborne magnetic data.
Elsewhere on the Tabakorole licence a number of priority targets for follow up trenching and auger drilling have been defined by the historical geophysical and surface geochemical data. The next phase of work at Tabakorole is expected to include drilling across new targets, as well as further resource definition drilling.
Mr Poulton added that in the meantime, Altus has commenced a high-resolution ground magnetic survey at Tabakorole.
The survey is being completed by Altus personnel under the joint venture between Glomin Services Ltd and Altus.
“Exploration is being accelerated at the company’s Tabakorole gold project in southern Mali under the JV with Glomin,” Mr Poulton said.
“Our field teams have commenced a ground magnetic programme which targets potential structural extensions to the historical resource, in an area where previous soil sampling returned encouraging results.
“Results from this survey will be analysed alongside those of the ongoing aircore drilling and the historical data, in order to guide the next phases of drilling under the JV.
“The aircore programme is progressing well, with over 1,100m completed to date of the planned 2,000m. We look forward to updating shareholders on the results from exploration at Tabakorole in due course.”
The Tabakorole project is located on the Massagui gold belt in southern Mali, approximately 100 km south-west of the formerly multi-million ounce Morila gold mine owned by Barrick Gold Corporation.