Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF) said it discovered 37 hard rock artisanal gold workings across its Gabal om Ourada and Wadi Dubur projects in Egypt following initial field reconnaissance.
The longest working was mapped for more than 370 metres, with five others mapped for more than 100 metres.
Altus, through its subsidiary, Akh Gold Ltd, was granted gold exploration licences totalling 1,565 km2 in Egypt this year. Less than 50% of the company's nine licences have been visited to date.
"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,” said Altus chief executive Steven Poulton.
“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."
Altus expects to start detailed exploration, including geological mapping and sampling, in the fourth quarter of this year once the reconnaissance programmes are completed and the necessary field permits are in place.