Altus Strategies announces high grade drilling results from the FT Prospect at the Company's Tabakorole gold projectin southern Mali.
The drilling was completed by Graphex Mining Limited under the joint venture with Altus.
Highlights:
·Results from an eight-hole (1,544m) diamond drilling programme at Tabakorole
·Intersections include 4.7 g/t Au over 14.0m and 1.2 g/t over 31.0m (not true widths)
·Potential 600m long north-west extension confirmed with 1.2 g/t Au over 12m
·Project remains open along strike and down dip
·Updated mineral resource estimate on Tabakorole is now being prepared
·Graphex is earning an initial 33% interest in the Project under the JV
·Altus holds a Net Smelter Return gold royalty on Tabakorole
Steven Poulton, Chief Executive of Altus, commented:
"We are encouraged to report the high grades and broad widths of gold mineralisation intersected from the recent drilling programme at Tabakorole. The programme was financed and completed by our ASX-listed JV partner Graphex Mining, which is earning an initial 33% interest in the Project. The intersection of 4.7 g/t gold over 14m, within a wider envelope of 38m averaging 2.1 g/t gold is excellent. The results have also extended a high-grade plunge that was not previously modelled in the 2007 historical mineral resource estimate. An updated independent mineral resource estimate is now being prepared, which will include results from the 11,736m of reverse circulation and 1,936m of diamond drilling that have occurred at Tabakorole since 2007."
"The potential of the 600m long north-west extension has also been confirmed, with an intersection of 1.2 g/t gold over 12m from the one diamond hole drilled in this area, which is in the vicinity of the recently reported shallow aircore drill intersection of 6.2 g/t gold over 6m from 14m depth."
"We look forward to updating shareholders on the progress at Tabakorole and specifically with news on the updated mineral resource estimate when available."
The 100km2 Tabakorole Project is situated in South Western Mali, 280km from Bamako and 17km South of the village of Garalo. The Company's 100% owned subsidiary, LGN Holdings (BVI) Ltd has identified a 2.7km long shear zone which hosts a historical near-surface resource (calculated at a 0.5g/t cut off grade) at the FT Prospect for a total 594,000 oz contained Au. This is comprised of 7,880,000 tonnes at 0.94 g/t Au for 241,000 ounces in the 'indicated' category and 10,550,000 tonnes at 1.03 g/t Au for 353,000 ounces in the 'inferred' category from the oxide and sulphide zones.