Altus Strategies Plc: Project Portfolio Update
DIDCOT, July 17, 2018 - Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa-focused exploration project generator, provides an update on its exploration activities across a number of its portfolio projects. Highlights:
- 14km of artisanal gold workings mapped at the Zolowo project in western Liberia
- Termite mound sampling completed at the Manankoto gold project in western Mali
- Stream sediment survey completed at the Daro VMS project in northern Ethiopia
- Copper mineralisation mapped at the Ammas project in central Morocco
- Initial exploration completed at the Prikro gold project in eastern Côte D'Ivoire
- Exploration ongoing at the Laboum gold project in northern Cameroon
Steven Poulton, Chief Executive of Altus, commented:
"With our TSX-V dual listing and associated capital raise completed, our exploration teams remain exceptionally busy with simultaneous programmes in Cameroon, Liberia, Morocco, Ethiopia, Côte D'Ivoire and Mali. Already, it looks as if we are on the tail of a potential discovery at our Zolowo gold project in western Liberia, where the scale of active and historic artisanal alluvial gold mining is substantial. We are also encouraged with the progress that has been made across our other prospects and look forward to providing project specific updates in due course".
14km of artisanal gold workings mapped at Zolowo in western Liberia
A detailed follow-up programme over the 466km2 Zolowo gold exploration licence in western Liberia has established the presence of many tens of artisanal gold workings within a 14km zone, both parallel to and within a 33km long mapped greenstone belt. Individual artisanal workings have been mapped as being up to 150m long. Assays are pending and will be reported in due course.
Termite mound sampling completed at Manankoto gold project in western Mali
At the Company's Manankoto gold project within the Company's 55km2 Djelimangara exploration licence in western Mali, a programme of termite sampling has been completed over an area of 0.6km by 1.6km. The objective of the programme is to extend the potential strike length of the current gold in soil anomaly.
Stream sediment survey completed at Daro VMS project in northern Ethiopia
A phase-2 stream sediment sampling programme has been completed at the Wedi Keshi prospect in the Company's 411.7km2 Daro exploration licence in northern Ethiopia. Separately at the 2.2km long Teklil copper-gold volcanogenic massive sulphide ("VMS") prospect, gossanousmineralisation has been mapped and sampled by the Company.
Copper mineralisation mapped at the Ammas project in central Morocco
A first phase exploration programme has been completed at the recently granted 31.75km2 Ammas exploration licence in central Morocco, which lies 3km from the Hajjar copper-zinc-lead VMS mine. Mapping has defined gossans and stockwork material which has been sampled by the Company.
Initial exploration completed at the Prikro gold project in eastern Côte D'Ivoire
A first phase reconnaissance exploration and mapping programme has been completed at the 369.5km2 Prikro gold exploration licence in eastern Côte D'Ivoire. A number of key targets have been defined for follow up stream sediment and termite sampling.
Exploration ongoing at the Laboum gold project in northern Cameroon
At the Company's 189km2 Laboum gold licence in northern Cameroon, sampling of recently discovered artisanal workings is being undertaken, alongside selective sampling of sheared metasedimentary units which are apparent within trenches.
Qualified Person
The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 18 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 under the rules of the TSX.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information you are invited to visit the Company's website www.altus-strategies.com or contact:
Altus Strategies Plc
Steven Poulton, Chief Executive
Tel: +44 (0) 1235 511 767
E: info@altus-strategies.com
SP Angel (Nominated Adviser)
Richard Morrison / Soltan Tagiev
Tel: +44 (0) 20 3470 0470
SP Angel (Broker)
Richard Parlons / Jonathan Williams
Tel: +44 (0) 20 3470 0471
Blytheweigh (Financial PR)
Tim Blythe / Camilla Horsfall / James Husband
Tel: +44 (0) 20
About Altus Strategies Plc
Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects, diversified by commodity and by country. Altus currently has seventeen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Glossary of Terms
The following is a glossary of technical terms:
"Artisanal mining" means local people conducting mining, often with rudimentary equipment
"Assay" means the analysis of minerals, rocks and mine products to determine and quantify their constituent parts
"Gossan" means an intensely oxidized, weathered or decomposed rock, often the upper and exposed part of an ore deposit or mineralised vein
"Km" means kilometres
"Greenstone belt" are primarily formed of volcanic rocks, the name comes from the green hue impacted by the colour of metamorphic minerals within the mafic rocks, typical green minerals are chlorite, actinolite and other green amphiboles
"m" means metres
"Metasedimentary rock" means a type of metamorphic rock first formed through the deposition and solidification of sediment, the rock is buried underneath subsequent rock and subject to high pressures and temperatures causing the rock to recrystallise
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SOURCE: Altus Strategies Plc