Altus notes further targets at Tabakorole gold project, southern Mali

Altus Strategies plc announced further multiple targets have been defined at the Tabakorole gold project in southern Mali.

The mining royalty company holds a 49% equity interest and 2.5% Net Smelter Return (NSR) royalty on the project with exploration activities are funded by its joint venture partner Marvel Gold Ltd.

Altus said that latest soil and magnetic anomalies had similar signatures to the Tabakorole deposit.

The project’s mineral resource estimate (MRE) will be revised with results from recent and planned drill programmes.

Tabakorole’s current MRE from September 2020 comprises 16,600,000 tonnes at 1.2 g/t Au for 620,000 ounces in the inferred category; and 7,300,000 tonnes at 1.2 g/t Au for 290,000 ounces in the indicated category.

SAMPLING AND MAGNETICS

Marvel Gold collected 4,267 soil samples and completed 5,300 line km of high resolution ground magnetics as part of its regional exploration programme which includes Tabakorole.

The Groot Trend (approximately 6km long) located in the same structural trend as the Tabakorole deposit has significant gold, tungsten and tellurium anomalies.

The Asgard Trend (5km) is located on the southern boundary of the Tabakorole structural corridor, with significant Au, W and Te anomalies.

Altus said that previous operators within the Asgard trend reportedly returned a best intersect from reverse circulation drilling of 9.8 g/t Au over 14m (not true width of interval).

FUTURE OPERATIONS

Mapping and rock chip sampling will be conducted on the targets generated from the soil sampling and high-resolution ground magnetic programmes.

Marvel Gold expects to complete 9,000m of reverse circulation and diamond drilling by August 2021.

To date, approximately 2,100m of the planned 3,000m diamond drill programme have been completed with results pending.