Altus Strategies Plc (AIM: ALS, TSXV: ALTS, OTCQX: ALTUF) has discovered numerous hard rock artisanal gold workings from field reconnaissance at the company’s Gabal om Ourada (346 sq. km) and Wadi Dubur (175 sq. km) projects, located in the Eastern Desert of Egypt.
The company’s 100% owned subsidiary Akh Gold Ltd holds gold exploration licences totalling 1,565 sq. km in Egypt.
The Licences were granted this year as part of a competitive international bid round undertaken by the Egyptian Mineral Resources Authority (EMRA).
Highlights:
- 37 hard rock artisanal gold workings discovered across two Projects in Egypt
- Longest working mapped for over 370 m, with five others mapped for over 100 m
- Less than 50% of Company’s Licences have been visited to date
- The discoveries validate the Company’s target generation process
- A full technical and operational team has been established in Cairo
- Comprehensive exploration programmes are anticipated to commence in Q4 2021
“We are pleased to report that our Egyptian field team has discovered numerous hard rock artisanal gold workings from initial reconnaissance at the first two of our four Projects in the Eastern Desert of Egypt,” Chief Executive, Steven Poulton, said.
“Reconnaissance has focused on areas identified by our in-house target generation techniques that integrate remote sensing and historical data.
“The field programmes have validated the power of this approach and underscored the prospectivity of the Licences. At least 37 hard rock workings have been discovered to date, the largest of which has been mapped for over 370 m in length.
Many of the gold workings have undergone extensive mechanised activity, indicating the potential for significant mineralisation. Further reconnaissance will commence shortly across the two remaining Projects, which cover the majority of the 1,550 km2 area held by Altus in Egypt.
“We have rapidly established a high calibre technical and operational team in Egypt, allowing us to aggressively advance our field programmes. I look forward to updating shareholders on the results of this work in due course.”
Hard Rock Workings: Gabal Om Ourada Licence (346 sq. km)
- Four of 12 high priority targets as defined by desktop studies have been visited
- Numerous historical artisanal hard rock workings discovered
- Workings traced for up to 375 m, in sheeted systems within breccia or fault zones
- Quartz-vein style gold mineralisation (orogenic gold) both fault and intrusion hosted
- Hydrothermal alteration (silica, carbonate, iron oxide and clay) and visible sulphide mineralisation observed
- Priority targets for follow-up work delineated with numerous other targets to be assessed
Hard Rock Workings: Wadi Dubur Licence (175 sq. km)
- Four of 10 high priority targets as defined by desktop studies have been visited
- Numerous historical artisanal hard rock workings (mechanised and smaller scale)
- Workings traced for up to 250 m, in sheeted systems within mafic-ultramafic hosts
- Quartz-vein style gold mineralisation (orogenic gold) both fault and intrusion hosted
- Hydrothermal alteration with silica and/or carbonate alteration and sulphide (pyrite, galena) mineralisation observed
- Visible gold identified in hand samples
- Priority targets for follow-up work delineated with numerous other targets to be assessed
Next Phase of Reconnaissance
Field reconnaissance will commence shortly at the Wadi Jundi (696sq. km) and Gabal Al-Shalul (348 sq. km) Projects which together cover 1,044 sq. km in the Eastern Desert.
On completion of the reconnaissance programmes, detailed exploration, including geological mapping and sampling, is anticipated to commence in Q4 2021, once the necessary field permits are in place.
For further information please visit: https://www.altus-strategies.com/
