The resource base at the Tabakorole project in Mali, 49%-owned by Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF), has been boosted to over a million ounces of gold.
The project is operated by Altus’s joint venture partner Marvel Gold Limited.
Recent work has established that Tabakorole contains 17.3mln tonnes of ore grading 1.2 grams per tonne gold, for 665,000 ounces in the inferred category, and 9.2mln tonnes at 1.2 grams for 360,000 ounces in the indicated category.
Around 70% of the resource is situated within 150 metres of the surface.
"We are pleased to report on the upgraded Mineral Resource at the Tabakorole gold project in southern Mali,” said Steven Poulton, chief executive of Altus.
“Drilling undertaken by our joint venture partner, Marvel Gold, this year has continued to demonstrate consistent thicknesses and grades over the project's 3.2 kilometre 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.”
Metallurgical testing has also shown good results.
Next steps will include resource expansion and infill drilling, as well as programmes to test a number of high-conviction targets across the project.