Altus Strategies plc announced an updated JORC compliant mineral resource estimate (MRE) of more than a million gold ounces at the Tabakorole in southern Mali.
RESOURCE ESTIMATE
The company holds a 49% equity interest and 2.5% net smelter return (NSR) royalty on the project with exploration funded by Marvel Gold Ltd (51%).
The MRE shows 17,300,000 tonnes at 1.2 g/t gold for 665,000 ounces in the inferred category, and 9,200,000 tonnes at 1.2 g/t Au for 360,000 ounces in the indicated category.
This is equal to a 24% increase in indicated ounces and 7% increase in inferred ounces.
| Indicated | Inferred | |||||
| Domain | Tonnes (t) | Grade (g/t) | Contained gold (oz) | Tonnes(t) | Grade (g/t) | Contained gold (oz) |
| Oxide | 1,400,000 | 1.2 | 50,000 | 1,300,000 | 1.3 | 55,000 |
| Fresh | 7,800,000 | 1.2 | 310,000 | 16,000,000 | 1.2 | 610,000 |
| Total | 9,200,000 | 1.2 | 360,000 | 17,300,000 | 1.2 | 665,000 |
A total of 70% of the resource is situated within 150m of the surface as shallow, higher-grade parallel zones have contributed to an upgraded MRE.
The MRE remains open in parallel zones and at depth.
Altus said that a drill programme to expand resource was planned to start during Q4 2021.
PARALLEL ZONES
Chief executive Steven Poulton added that drilling continued to demonstrate consistent thicknesses and grades over the project’s 3.2km strike length.
It had also led to 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.
“The next stages of exploration at Tabakorole will include resource expansion and infill drilling, as well as programmes to test a number of high-conviction targets across the project.”