Altus Strategies Plc has announced that drilling has confirmed the discovery of a significant new parallel zone of gold mineralisation (parallel zone) from its joint venture (JV) at the Tabakorole gold project located in southern Mali. Altus holds a 49% equity interest and 2.5% net smelter return (NSR) royalty on the project. Exploration activities at Tabakorole are being funded by Marvel Gold Limited under its JV with Altus. The current drilling programme is designed to test the potential to expand the Tabakorole deposit on which a mineral resource estimate (MRE) has been modelled.
Highlights
- Further highly encouraging drilling results from the Tabakorole gold project in southern Mali.
- Results from eight diamond drill (DD) holes (1296 m) from Northwest Zone and parallel zone.
- Multiple, shallow and high-grade intersections include (not true width of intervals):
- Northwest Zone: 3.6 g/t gold (Au) over 16.5 m from 3.2 m.
- Parallel zone: 2.4 g/t Au over 24 m from 35 m and 1.5 g/t Au over 20.6 m from 26.4 m.
- Parallel zone is outside of deposit and remains open beyond 120 m strike and at depth.
- Results are expected to increase the volume and grade of the MRE.
- Upgraded MRE for Tabakorole expected to be prepared in September 2021.
- Tabakorole hosts a mineral deposit for which an MRE has been generated, comprising:
- 16.6 million t at 1.2 g/t Au for 620 000 oz in the inferred category.
- 7.3 million t at 1.2 g/t Au for 290 000 oz in the indicated category.
- Altus holds 49% of the project and a 2.5% NSR royalty on Tabakorole gold production.
Steven Poulton, Chief Executive of Altus, commented: “The discovery of this parallel, shallow and high-grade gold zone has significant implications for the potential of the Tabakorole gold project in southern Mali. Drilling results of 2.4 g/t Au over 24 m from 35 m depth in the parallel zone and 3.6 g/t Au over 16.5 m from 3.2 m depth from the Northwest Zone are excellent. Marvel Gold, our ASX-listed JV partner, has been aggressively advancing Tabakorole through its drilling programmes in 2021. These programmes have successfully extended the deposit’s strike length to the northwest and southeast and intersected new shallow and high-grade mineralisation outside of the current deposit model. The results are anticipated to contribute to an updated MRE, expected later this month. We look forward to updating shareholders on the results of this work in due course.”