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Drill targets defined at DJ & SBK project, Mali

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RNS Number : 2999B
Altus Strategies PLC
06 June 2019
 

Altus Strategies Plc / Index (EPIC): AIM (ALS) & TSX-V (ALTS) / Sector: Mining

 

6 June 2019

 

Altus Strategies Plc

("Altus" or the "Company")

 

Drill Targets Defined at DJ & SBK Gold Project, Western Mali

 

Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa focused project and royalty generator, announces that it has defined a series of drill and trench targets at the Company's 100% owned Djelimangara and Sebessounkoto Sud gold licences ("DJ & SBK" or the "Project"). The Project is located 2km east of the Company's Korali Sud licence, which hosts the Diba gold project and is approximately 20km southeast of the multi-million ounce Sadiola gold mine in the 'Kenieba Window' gold belt in the west of the Republic of Mali ("Mali").

 

Highlights:

·    Drill targets established over three prospects in western Mali

·    Extensive artisanal hard rock gold workings to depths of 40m

·    Historic drilling intersections include 3.71 g/t Au over 8m and 11.05 g/t Au over 3.7m

·    2km east of the Company's Korali Sud licence and 20km southeast of the Sadiola gold mine

·    Targets based on reinterpretation of geochemical, lithological and geophysical data

 

Steven Poulton, Chief Executive of Altus, commented:

"Our detailed review of the historic data on the DJ & SBK gold projects has defined a number of priority drill and trench targets. With a cumulative strike length of over 5.5km the targets are often coincident with hard rock artisanal gold workings that can extend for up to 150m in length with individual shafts reportedly down to 40m. The Project contains over 20km of strike in the prolific Senegal-Mali shear zone which hosts a number of current and former multi-million ounce gold mines including Sadiola and Yatela. The Company will shortly commence detailed mapping around these prospects to further refine these targets. We look forward to updating shareholders in due course."

 

An updated technical presentation on the DJ & SBK project has been prepared and can be downloaded from the following link:

http://altus-strategies.com/site/assets/files/4254/altus_dj_sbk_project_review_-_q2_2019.pdf

 

The following figures have been prepared and relate to the disclosures in this announcement and are visible in the version of this announcement on the Company's website (www.altus-strategies.com) or in PDF format by following this link: http://altus-strategies.com/site/assets/files/4576/altus_nr_-_dj_sbk_update_-_06_june_2019.pdf

 

·    Location of the DJ & SBK Project in western Mali is shown in Figure 1.

·    Prospects within the DJ & SBK Project are shown in Figure 2.

·    Geology of the Sadiola district is shown in Figure 3.

·    The Souroukoto prospect is shown in Figure 4.

·    The Soa prospect is shown in Figure 5.

·    The Manankoto prospect is shown in Figure 6.

·    A selection of project photos is shown in Figure 7.

 

DJ & SBK Project: New Prospects

The Company has defined three priority prospects as set out below. The proposed exploration programmes at each prospect will be subject to the Company entering a joint venture or similar transaction with a funding third party on the Project:

 

Soa Prospect

·    2.0km long geochemical anomaly with artisanal workings

·    Rock chips up to 11.4 g/t Au

·    Trenching of 0.87 g/t Au over 24m (Randgold, 2016)

·    1,000m of trenching and up to 15 drill holes to 100m depth proposed

 

Souroukoto Prospect

·    2.3km long geochemical anomaly with artisanal workings

·    2.0km long high-chargeability zone coincident with soil geochemical anomaly

·    1,000m of trenching and up to 20 drill holes to 100m depth proposed

 

 

Manankoto Prospect

·    0.9km long geochemical anomaly from termite mound sampling

·    Artisanal workings along 500m of strike

·    Historic drilling includes 3.71 g/t Au over 8m

·    1,000m of trenching and up to 10 drill holes to 100m depth proposed

 

DJ & SBK Project: Location

The 56km2 Djelimangara (DJ) and 29km2 Sebessounkoto Sud (SBK) licences are located in western Mali, 2km east of the Company's Korali Sud licence which hosts the Diba gold project The Project is approximately 400km northwest of the capital city of Bamako and 90km southwest of the regional capital of Kayes.

 

DJ & SBK Project: Exploration History

Historic exploration at the Project includes over 34,000m of drilling (of which 2,681m was diamond drilling and 5,747m was RC drilling), over 6,000 soil samples and airborne VTEM and Induced Polarisation ground geophysical surveys.

 

Table 1: Selected DJ drilling intercepts from historic drilling (1996 - 2004)
The following historic intersections from the DJ licence are calculated based on a greater than 0.5g/t Au cut-off grade, a 40g/t top-cap of grades above that grade and where there is ≤ 3m of consecutive internal waste.

 

Hole ID

From (m)

To (m)

Intersection (m)

Grade (g/t Au)

DJA-96-16

15.30

19.00

3.70

11.05

including

17.00

19.00

2.00

23.97

MDRC04-001

32.00

62.00

30.00

1.84

Including

38.00

42.00

4.00

3.13

 

44.00

46.00

2.00

1.87

 

54.00

62.00

8.00

3.71

MDRC04-011

52.00

58.00

6.00

3.32

MDRC04-019

56.00

64.00

8.00

2.28

Including

56.00

58.00

2.00

1.23

 

62.00

64.00

2.00

7.22

MDRC04-022

30.00

48.00

18.00

1.30

Including

40.00

42.00

2.00

1.21

 

44.00

48.00

4.00

3.55

 

DJ & SBK Project: Geology

The Project lies along the prolific Senegal-Mali shear zone, within the Kofi Series of the Kédougou-Kéniéba Birimian inlier. This inlier hosts the multi-million ounce Sadiola mine and former Yatela mine, each located approximately 20km and 50km to the northwest of the Project respectively. The Project is also within the same geological formation as the Loulo & Gounkoto shear zone hosted gold deposits, operated by Barrick Gold Corp. ("Barrick") (NYSE:GOLD, TSX:ABX) which are located approximately 70km to the southeast. The Kofi series includes argillaceous basin sediments metamorphosed to greenschist facies. Syn-tectonic granitoids intrude the Kofi basin and younger northeast trending dolerite dykes are also present. Four phases of deformation characterise the Kédougou-Kéniéba Inlier, the most recent of which manifests as NNW-SSE to NE-SW striking shear zones. Much of the gold mineralisation in the region is associated with these third order structures and dilation jogs related to the Senegal-Mali shear zone.

 

Cautionary note regarding historic data

Readers are cautioned that the data on DJ & SBK as referred to in this written disclosure is historic exploration data that has not been verified by a Qualified Person. Not all historic samples are available and Altus does not have complete information on the quality assurance or quality control measures taken in connection with the historic exploration results, or other exploration or testing details regarding these results. The historic data should therefore not be relied upon until the Company can confirm it.

 

Qualified Person

The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101.

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

For further information you are invited to visit the Company's website www.altus-strategies.com or contact:

 

Altus Strategies Plc

Steven Poulton, Chief Executive

 

Tel: +44 (0) 1235 511 767

E: [email protected]

SP Angel (Nominated Adviser)

Richard Morrison / Soltan Tagiev

 

Tel: +44 (0) 20 3470 0470

SP Angel (Broker)

Richard Parlons / Jonathan Williams

 

Tel: +44 (0) 20 3470 0471

Blytheweigh (Financial PR)

Tim Blythe / Camilla Horsfall

Tel: +44 (0) 20 7138 3204

 

About Altus Strategies Plc

Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed project and royalty generator in the mining sector with a focus on Africa. Our team creates value by making mineral discoveries across multiple licences. We enter joint ventures with respected groups and our partners earn interest in these discoveries by advancing them toward production. Project milestone payments we receive are reinvested to extend our portfolio, accelerating our growth. The portfolio model reduces risk as our interests are diversified by commodity and by country. The royalties generated from our portfolio of projects are designed to yield sustainable long-term income. We engage constructively with all our stakeholders, working diligently to minimise our environmental impact and to promote positive economic and social outcomes in the communities where we operate.

 

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this news release.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Glossary of Terms

The following is a glossary of technical terms:

 

"Au" means gold

"g/t" means grams per tonne

"grade(s)" means the quantity of ore or metal in a specified quantity of rock

"IP" means induced polarisation

"km" means kilometre

"m" means metre

 "RC" means Reverse Circulation drilling

 

**END**


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