Altus Strategies PLC (LON:ALS, TSX-V: ALTS) announced further encouraging drilling results from its joint venture at the Tabakorole gold project in southern Mali.
Results from the first six diamond drilled holes received to date include 2.0 grammes a tonne (g/t) gold over 13 metres; 3.9 g/t gold over 4 metres from a depth of 110 metres; and 2.8 g/t gold over 4 metres. While results from air core drilling include 2.7 g/t gold and 1.3 g/t gold both over 4 metres.
“We are delighted to announce further drill holes returning encouraging grades over good widths within the main deposit of the Tabakorole gold project,” said chief executive Steven Poulton.
“Of particular significance, is the discovery of a new zone of mineralisation 3km to the southeast of the main deposit. This discovery represents just one of numerous targets that have been defined to date, based on soil and geophysical anomalies, and underscores our confidence that the deposit at Tabakorole will continue to grow.”
Altus holds a 49% equity interest and 2.5% Net Smelter Return royalty on the project. The exploration activities at Tabakorole are being funded by joint venture partner Marvel Gold Ltd (ASX: MVL).
“Marvel Gold, our ASX-listed JV partner, is aggressively advancing the project through a number of drilling programmes and these are expected to contribute to an updated MRE [Mineral Resource Estimate] later in the year,” Poulton said.