Altus Strategies reports new potential Diba gold deposit

Altus Strategies plc reported a new potential gold deposit at the company’s 100% owned Diba project in western Mali.

The company said that the delineation of a significant and coherent, shallow-dipping and near-surface potential gold deposit (Diba NW) was located approximately 1.5km northwest of the primary Diba deposit.

Ground geophysics and follow-up drilling at Diba are currently being planned.

Diba NW was defined by combining results from the recently completed 10,308m reverse circulation (RC) drilling programme and historical project data.

The new potential deposit is currently 550m long, 150m wide and open along strike and down dip.

Intersections at Diba NW include (down-the-hole and not true widths) 1.45 g/t Au over 22m from 55m downhole; and 1.87 g/t Au over 10m from 8m downhole.

Altus added that further encouraging intersections also received from the Diba deposit included 8.50 g/t Au over 8m from 107m downhole; and 2.30 g/t Au over 11m from 7m downhole.

Chief executive Steven Poulton said that the highest grades appeared to be on the northern margin of an igneous intrusion interpreted to be up to 1.5km long.

“The proximity of Diba NW to the existing Diba deposit is highly encouraging. Further drilling will be undertaken in order to determine if a resource can be defined at Diba NW.

“The results from the recent drilling programme at the Diba deposit will be incorporated into a future updated MRE [mineral resource estimate] and preliminary economic assessment.

“Our technical team is currently planning a ground magnetic survey to guide the next phase of drilling at Diba.”

The current MRE for the Diba deposit comprises 4,834,000 tonnes at 1.39 g/t Au for 217,000 ounces in the indicated category; and 5,479,000 tonnes at 1.06 g/t Au for 187,000 ounces in the inferred category.