Numbers Exceed One Million Ounces In Southern Mali
Altus Strategies Plc (AIM: ALS, TSXV: ALTS) has unveiled an updated independent Mineral Resource Estimate (MRE) for the Tabakorole gold project in southern Mali.
Tabakorole is subject to a Joint Venture (JV) with Marvel Gold Limited. 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.
Highlights:
- Updated independent MRE for Tabakorole JV gold project in southern Mali
- Tabakorole hosts a mineral deposit for which an MRE has been generated comprising:
- 17,300,000 tonnes at 1.2 g/t gold for 665,000 ounces in the Inferred category
- 9,200,000 tonnes at 1.2 g/t Au for 360,000 ounces in the Indicated category
- 24% increase in indicated ounces and 7% increase in inferred ounces
- 70% of the MRE is situated within 150m of the surface
- Preliminary high metallurgical recoveries indicate simple processing flowsheet
- Shallow, higher-grade parallel zones have contributed to upgraded MRE
- MRE remains open in parallel zones and at depth
Chief Executive, Steven Poulton, said a resource expansion drilling programme is planned to commence in Q4 2021
“We are pleased to report on the upgraded Mineral Resource at the Tabakorole gold project in southern Mali,” Mr Poulton said.
“Drilling undertaken by our JV partner, Marvel Gold, this year has continued to demonstrate consistent thicknesses and grades over the Project’s 3.2km strike length, as well as the discovery of two new shallow, higher-grade zones of mineralisation adjacent to the existing deposit. These parallel zones may potentially provide some excellent low-strip starter pit options for any eventual mining operation.
“With 70% of the upgraded MRE now within 150m of surface, with the deposit growing to over a million ounces in all categories and with high metallurgical gold recoveries averaging 97%, Tabakorole is shaping up as a significant potential development project in west Africa with substantial upside.
“The next stages of exploration at Tabakorole will include resource expansion and infill drilling, as well as programmes to test a number of high-conviction targets across the Project. I look forward to updating shareholders on the outcomes of this work in due course.”
For further information please visit: https://www.altus-strategies.com/
