Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF) has announced the commencement of a combined 35,000-metre reverse circulation, air core and auger drilling programme at the Tabakorole gold project in southern Mali.
Tabakorole is subject to a joint venture with Marvel Gold Limited.
Altus holds a 49% equity interest and 2.5% net smelter return royalty on the project. Exploration activities at Tabakorole are being funded by Marvel.
Tabakorole is already known to host 665,000 ounces of gold in the inferred category and 360,000 ounces indicated.
At present, 70% of the resource is estimated to be within 150 metres of the surface.
"The Tabakorole gold project in southern Mali is being advanced aggressively by Marvel Gold, our ASX-listed JV partner,” said Steven Poulton, chief executive of Altus.
“Last month we announced that the Tabakorole deposit has grown to over a million ounces in all categories. Drilling undertaken this year has continued to demonstrate consistent thicknesses and grades over the project's 3.2km strike length and also resulted in the discovery of two shallow, higher-grade zones of mineralisation adjacent to the existing deposit.”
The project has also shown excellent initial metallurgical gold recoveries averaging 97%.