Altus Strategies plc has increased its landholding by 56% to 292km2 at the joint venture (JV) gold project at Tabakorole in southern Mali.
The mining royalty company holds a 49% equity interest and 2.5% net smelter return (NSR) royalty on the project.
Exploration activities at Tabakorole are being funded by JV partner Marvel Gold Ltd.
SIRAKOROBLE SUD
The 100km2 Sirakoroble Sud JV licence is on strike of 5km long mineralised Asgard trend.
A multi-element soil survey will now be conducted to generate potential drill targets.
Chief Executive Steven Poulton said that Tabakorole was shaping up to be a significant gold discovery not just in southern Mali, but in the west African context.
“This 100km2 increase in the JV project area is strategically significant as the new licence area hosts a potential north-westerly extension of the 5km long Asgard trend, which is defined by strong, and often coincident, geochemical and geophysical anomalies.”
Marvel Gold expects to complete 9,000m of reverse circulation drilling and diamond drilling at the site by August 2021.
Assay results are pending from the current 3,000m diamond drill programme.
An revised resource statement at Tabakorole in accordance with the JORC code is expected later this year.