Altus Strategies plc said it had excellent results from preliminary metallurgical test work on fresh rock samples at the FT Prospect of its Tabakorole gold project located in southern Mali.
Bottle roll tests on core samples from diamond drilling at the FT Prospect indicated a straightforward, clean and non-refractory ore with low reagent consumption.
The company also reported high gold recoveries of 92.7% to 96.6% for grind sizes (P80) of 150 to 75 microns.
A mineral resource estimate (MRE) for the project 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, with 43% of the current MRE situated within 100m of surface.
Altus added that the current 6,300m RC resource expansion drill programme is part of Stage 3 of the programme at Tabakorole.
“Non-refractory mineralisation with high gold recoveries highlights the potential for a simple, industry standard gold processing flow sheet,” said chief executive Steve Poulton.
“Future metallurgical test work is expected to include potential optimisations of grind size and residence times.
“Tabakorole currently hosts a significant gold resource which is open along strike in both directions, and at depth. The project is emerging as a significant west African gold deposit and these metallurgical test work results represent a significant step in advancing the project.”
Marvel Gold Ltd, which is funding exploration at Tabakorole under its joint venture with Altus, has earned a 51% interest in the project and paid Altus US$200,000 in cash.
The Australian miner started Stage 3 to earn an aggregate 70% by expending US$3 million. Altus holds a 2.5% net smelter return gold production royalty on Tabakorole.
Altus Strategies holds vested interests in a number of exploration and development projects across Africa in the form of royalties designed to yield sustainable long-term income for the company.