(via TheNewswire)
TheNewswire -27 January2022 -
Highlights:
High gold (“Au”) grades from RC drilling at the Diba NW prospect in western
Mali including:8.74 grams per tonne (g/t”) Au over 7m from 119m (not true width)
4.76 g/t Au over 12m from 102m (not true width)
1.16 g/t Au over 29m from 126m (not true width)
Programme of approximately 10,000m of RC and
Diamond Drilling (“DD”) in progress to:test the strike and down-dip potential of the Diba NW prospect
test the extent of the high-grade zone within the Diba Deposit
test the potential of the Lakanfla Central prospect
expand the current Mineral Resource Estimate ("MRE") of the Diba Deposit
potentially generate a maiden MRE at the Diba NW prospect
potentially generate a maiden MRE at the Lakanfla Central prospect
Project MRE and Preliminary Economic Assessment (“PEA”) to be updated with results
Diba is strategically located in a world-famous gold belt that hosts numerous open-pit mines
“We are delighted to report on these high-grade results from the Diba NW prospect. Intersections of 4.76 g/t Au over 12m from 102m and 8.74 g/t Au over 7m from 119m (not true widths) are excellent. Diba NW is located 0.5km northwest of the Diba Deposit and is modelled as a coherent series of shallow-dipping, near-surface lenses of gold mineralisation along a discontinuous strike length of approximately 1.5km. These new high-grade intersections indicate the presence of potentially enriched zones, or sub vertical mineralised structures, at Diba NW which will be the subject of follow-up exploration.
"The current drilling programme comprises up to 10,000m of DD and RC and is designed to test the potential down-dip and along-strike extensions of the Diba Deposit and the Diba NW prospect. Drilling is also planned at the Lakanfla Central prospect at the Company’s 100% owned Lakanfla licence, located approximately 5km east of the Diba licence. Once completed, the drilling results will feed into an updated MRE for the Diba Deposit and a potential maiden MRE for the Diba NW and Lakanfla Central prospects. This work will be followed by an updated Preliminary Economic Assessment for the Project. We look forward to updating shareholders as further results are received.”
The drilling programme is being undertaken by Capital Drilling Limited and comprises up to 10,000m of DD and RC across the Diba Deposit, the Diba NW prospect and the Lakanfla Central prospect. To date, approximately 5,400m of RC and 1,360m of DD has been completed.
The DD programme is primarily testing the extent of the high-grade zone of mineralisation within the current Diba Deposit, as well as the down-dip extension of the mineralised lenses. In addition, the DD programme is producing orientated core to enable a better structural understanding of the Diba Deposit and samples for density measurements, to better understand any variations between the oxide, transitional and fresh rock domains.
The RC programme is primarily targeting on strike and down-dip extensions of the known lenses of mineralisation at both the Diba Deposit and Diba NW prospect. In addition, RC holes will test the potential of the Lakanfla Central prospect.
Assay results for 27 drill holes have been received to date from the Diba Deposit and Diba NW prospect from the current programme (see Table 1). The holes were drilled at -60 degrees inclination and range between approximately 75m to 215m in length. The drilling was orientated perpendicular to the interpreted structural orientation of the Diba Deposit and Diba NW prospect.
Table 1: Drill intersections from current programme at Diba Licence
Hole ID | Target | End of Hole (m) | From | To | Intersection | Grade |
21KSRC-133 | Diba NW prospect | 200.00 | 76.00 | 77.00 | 1.00 | 0.57 |
146.00 | 148.00 | 2.00 | 0.56 | |||
169.00 | 170.00 | 1.00 | 0.92 | |||
21KSRC-134 | Diba NW prospect | 160.00 | 5.00 | 6.00 | 1.00 | 0.66 |
38.00 | 39.00 | 1.00 | 0.74 | |||
43.00 | 47.00 | 4.00 | 0.77 | |||
89.00 | 94.00 | 5.00 | 0.85 | |||
99.00 | 100.00 | 1.00 | 0.62 | |||
119.00 | 126.00 | 7.00 | 0.52 | |||
128.00 | 129.00 | 1.00 | 0.53 | |||
150.00 | 151.00 | 1.00 | 0.53 | |||
21KSRC-135 | Diba NW prospect | 150.00 | 56.00 | 64.00 | 8.00 | 2.25 |
Including: | 56.00 | 60.00 | 4.00 | 3.99 | ||
77.00 | 78.00 | 1.00 | 0.66 | |||
79.00 | 80.00 | 1.00 | 0.50 | |||
105.00 | 106.00 | 1.00 | 2.01 | |||
21KSRC-136 | Diba NW prospect | 175.00 | 21.00 | 22.00 | 1.00 | 1.17 |
94.00 | 95.00 | 1.00 | 1.34 | |||
108.00 | 111.00 | 3.00 | 0.58 | |||
148.00 | 152.00 | 4.00 | 0.64 | |||
158.00 | 159.00 | 1.00 | 0.69 | |||
21KSRC-137 | Diba NW prospect | 200.00 | 150.00 | 152.00 | 2.00 | 0.66 |
175.00 | 181.00 | 6.00 | 0.73 | |||
21KSRC-138 | Diba NW prospect | 160.00 | 78.00 | 80.00 | 2.00 | 0.68 |
84.00 | 87.00 | 3.00 | 0.95 | |||
104.00 | 105.00 | 1.00 | 0.67 | |||
111.00 | 116.00 | 5.00 | 0.80 | |||
Including: | 114.00 | 116.00 | 2.00 | 1.17 | ||
121.00 | 122.00 | 1.00 | 0.56 | |||
127.00 | 129.00 | 2.00 | 0.78 | |||
21KSRC-139 | Diba NW prospect | 180.00 | 27.00 | 30.00 | 3.00 | 0.65 |
52.00 | 53.00 | 1.00 | 0.51 | |||
74.00 | 77.00 | 3.00 | 0.58 | |||
81.00 | 83.00 | 2.00 | 0.55 | |||
175.00 | 176.00 | 1.00 | 0.73 | |||
21KSRC-140 | Diba NW prospect | 170.00 | 114.00 | 115.00 | 1.00 | 0.52 |
21KSRC-141 | Diba NW prospect | 175.00 | 7.00 | 9.00 | 2.00 | 2.51 |
13.00 | 14.00 | 1.00 | 0.76 | |||
43.00 | 45.00 | 2.00 | 1.46 | |||
50.00 | 52.00 | 2.00 | 0.60 | |||
57.00 | 63.00 | 6.00 | 2.46 | |||
Including: | 58.00 | 60.00 | 2.00 | 5.98 | ||
67.00 | 81.00 | 14.00 | 0.77 | |||
85.00 | 101.00 | 16.00 | 0.61 | |||
106.00 | 107.00 | 1.00 | 0.56 | |||
112.00 | 115.00 | 3.00 | 0.88 | |||
126.00 | 155.00 | 29.00 | 1.16 | |||
Including: | 128.00 | 145.00 | 17.00 | 1.53 | ||
21KSRC-142 | Diba NW prospect | 100.00 | 39.00 | 40.00 | 1.00 | 0.68 |
21KSRC-143 | Diba NW prospect | 176.00 | 3.00 | 4.00 | 1.00 | 0.85 |
16.00 | 18.00 | 2.00 | 1.69 | |||
29.00 | 30.00 | 1.00 | 0.63 | |||
32.00 | 34.00 | 2.00 | 0.67 | |||
38.00 | 40.00 | 2.00 | 5.91 | |||
91.00 | 92.00 | 1.00 | 0.51 | |||
93.00 | 94.00 | 1.00 | 0.53 | |||
102.00 | 114.00 | 12.00 | 4.76 | |||
Including: | 105.00 | 114.00 | 9.00 | 6.22 | ||
118.00 | 119.00 | 1.00 | 0.73 | |||
150.00 | 151.00 | 1.00 | 0.52 | |||
164.00 | 165.00 | 1.00 | 1.74 | |||
174.00 | 175.00 | 1.00 | 0.82 | |||
21KSRC-144 | Diba NW prospect | 75.00 | no significant intersections | |||
21KSRC-145 | Diba NW prospect | 200.00 | 10.00 | 23.00 | 13.00 | 0.80 |
Including: | 14.00 | 17.00 | 3.00 | 1.06 | ||
Including: | 20.00 | 23.00 | 3.00 | 1.55 | ||
83.00 | 84.00 | 1.00 | 0.98 | |||
118.00 | 119.00 | 1.00 | 0.65 | |||
127.00 | 128.00 | 1.00 | 0.50 | |||
138.00 | 139.00 | 1.00 | 0.54 | |||
144.00 | 148.00 | 4.00 | 0.93 | |||
157.00 | 164.00 | 7.00 | 0.53 | |||
176.00 | 181.00 | 5.00 | 0.53 | |||
21KSRC-146 | Diba NW prospect | 125.00 | 8.00 | 9.00 | 1.00 | 0.61 |
13.00 | 15.00 | 2.00 | 0.68 | |||
20.00 | 21.00 | 1.00 | 0.70 | |||
36.00 | 37.00 | 1.00 | 0.78 | |||
54.00 | 55.00 | 1.00 | 0.73 | |||
68.00 | 69.00 | 1.00 | 1.04 | |||
88.00 | 90.00 | 2.00 | 0.73 | |||
21KSRC-147 | Diba NW prospect | 160.00 | 2.00 | 3.00 | 1.00 | 0.68 |
119.00 | 126.00 | 7.00 | 8.74 | |||
Including: | 119.00 | 122.00 | 3.00 | 19.77 | ||
130.00 | 131.00 | 1.00 | 0.56 | |||
21KSRC-148 | Diba NW prospect | 140.00 | 31.00 | 32.00 | 1.00 | 0.79 |
52.00 | 53.00 | 1.00 | 0.67 | |||
62.00 | 63.00 | 1.00 | 0.82 | |||
111.00 | 114.00 | 3.00 | 0.57 | |||
21KSRC-149 | Diba NW prospect | 110.00 | 45.00 | 46.00 | 1.00 | 0.67 |
66.00 | 67.00 | 1.00 | 0.71 | |||
78.00 | 80.00 | 2.00 | 1.19 | |||
22KSRC-150 | Diba NW prospect | 75.00 | 3.00 | 4.00 | 1.00 | 1.14 |
27.00 | 28.00 | 1.00 | 0.56 | |||
34.00 | 35.00 | 1.00 | 0.50 | |||
36.00 | 37.00 | 1.00 | 0.57 | |||
38.00 | 39.00 | 1.00 | 0.51 | |||
53.00 | 55.00 | 2.00 | 0.72 | |||
22KSRC-151 | Diba NW prospect | 75.00 | 8.00 | 9.00 | 1.00 | 0.71 |
62.00 | 63.00 | 1.00 | 0.53 | |||
22KSRC-152 | Diba NW prospect | 75.00 | no significant intersections | |||
22KSRC-153 | Diba NW prospect | 175.00 | 3.00 | 4.00 | 1.00 | 0.52 |
7.00 | 9.00 | 2.00 | 0.61 | |||
18.00 | 28.00 | 10.00 | 0.59 | |||
35.00 | 44.00 | 9.00 | 1.06 | |||
63.00 | 64.00 | 1.00 | 0.55 | |||
94.00 | 99.00 | 5.00 | 0.68 | |||
115.00 | 117.00 | 2.00 | 0.66 | |||
137.00 | 138.00 | 1.00 | 0.74 | |||
148.00 | 154.00 | 6.00 | 0.60 | |||
164.00 | 175.00 | 11.00 | 1.03 | |||
22KSRC-154 | Diba NW prospect | 200.00 | 81.00 | 82.00 | 1.00 | 1.31 |
97.00 | 98.00 | 1.00 | 0.93 | |||
120.00 | 124.00 | 4.00 | 1.38 | |||
128.00 | 132.00 | 4.00 | 1.36 | |||
170.00 | 172.00 | 2.00 | 0.84 | |||
22KSRC-155 | Diba NW prospect | 155.00 | 66.00 | 67.00 | 1.00 | 3.10 |
81.00 | 85.00 | 4.00 | 0.55 | |||
88.00 | 89.00 | 1.00 | 0.62 | |||
93.00 | 95.00 | 2.00 | 0.89 | |||
99.00 | 100.00 | 1.00 | 0.56 | |||
101.00 | 102.00 | 1.00 | 0.53 | |||
103.00 | 106.00 | 3.00 | 0.52 | |||
109.00 | 110.00 | 1.00 | 0.54 | |||
114.00 | 118.00 | 4.00 | 1.60 | |||
127.00 | 128.00 | 1.00 | 0.70 | |||
22KSRC-156 | Diba NW prospect | 85.00 | 17.00 | 19.00 | 2.00 | 0.75 |
31.00 | 85.00 | 54.00 | Assays pending | |||
Diba Deposit (within MRE) | 171.10 | 73.00 | 74.00 | 1.00 | 0.55 | |
97.00 | 99.10 | 2.10 | 11.95 | |||
104.00 | 106.00 | 2.00 | 0.77 | |||
110.00 | 111.00 | 1.00 | 0.61 | |||
118.00 | 119.00 | 1.00 | 1.22 | |||
125.00 | 126.47 | 1.47 | 3.03 | |||
Diba Deposit (within MRE) | 201.60 | 22.30 | 24.80 | 2.50 | 18.07 | |
41.20 | 42.20 | 1.00 | 0.52 | |||
66.30 | 72.60 | 6.30 | 0.69 | |||
82.66 | 87.90 | 5.24 | 1.33 | |||
91.00 | 92.00 | 1.00 | 0.67 | |||
96.00 | 101.00 | 5.00 | 1.23 | |||
109.00 | 114.00 | 5.00 | 1.22 | |||
118.00 | 119.00 | 1.00 | 0.84 | |||
150.00 | 151.00 | 1.00 | 1.34 | |||
157.00 | 158.00 | 1.00 | 0.65 | |||
169.00 | 176.00 | 7.00 | 0.84 | |||
Diba Deposit (within MRE) | 213.20 | 25.00 | 26.00 | 1.00 | 0.60 | |
45.90 | 47.00 | 1.10 | 0.86 | |||
52.00 | 53.00 | 1.00 | 0.65 | |||
57.00 | 60.20 | 3.20 | 0.71 | |||
83.00 | 84.00 | 1.00 | 0.52 | |||
106.00 | 107.00 | 1.00 | 0.80 | |||
115.00 | 116.00 | 1.00 | 8.88 | |||
123.00 | 125.00 | 2.00 | 7.64 | |||
129.00 | 130.00 | 1.00 | 1.94 | |||
146.00 | 151.00 | 5.00 | 0.78 | |||
151.60 | 213.00 | 61.40 | Assays pending |
Notes:
Intersections based on 0.5 g/t Au cut off and ≤ 3m consecutive internal waste
Intersections are down-the-hole and do not represent true widths of mineralisation
Table shows uncapped grades
Estimated true widths for the holes is from 75% to 100% of the intercept width
Illustrations
The following figures relate to the disclosures in this announcement and are visible in the version of this announcement on the Company's website (www.altus-strategies.com), or in PDF format by following this link:
https://altus-strategies.com/site/assets/files/5430/altus_nr_-_diba_nw_27_jan_2022.pdf
Location of the Diba Lakanfla gold project in western
Mali is shown in Figure 1.Location of the key prospects at the Diba Lakanfla gold project is shown in Figure 2.
Plan of Diba Deposit and Diba NW prospect is shown in Figure 3.
Cross section of interpreted mineralised trend at Diba NW prospect is shown in Figure 4.
Cross section of higher-grade zone at Diba NW prospect is shown in Figure 5.
Selection of photos from the latest drilling programme is shown in Figure 6.
Figure 1: Location of the Diba & Lakanfla gold project in western
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Figure 2: Location of the key prospects at the Diba & Lakanfla gold project
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Figure 3: Plan of Diba Deposit and Diba NW prospect
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Figure 4: Cross section of interpreted mineralised trend at Diba NW prospect
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Figure 5: Cross section of higher-grade zone at Diba NW prospect
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Figure 6:Selection of photos from the latest drilling programme
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Diba Deposit Mineral Resource Estimate
The Diba licence hosts a deposit for which an MRE of 217,000 ounces at 1.39 g/t Au (Indicated) and 187,000 ounces at 1.06 g/t Au (Inferred) in both oxide and fresh domains has been made, as set out in Table 2. The MRE was previously reported by the Company on
Table 2: Diba Deposit Mineral Resource Estimate
Domain | Indicated | Inferred | ||||
Tonnes (t) | Grade (g/t) | Contained gold (oz) | Tonnes (t) | Grade (g/t) | Contained gold (oz) | |
Oxide | 3,900,000 | 1.46 | 183,100 | 939,000 | 1.10 | 33,200 |
Fresh | 934,000 | 1.12 | 33,600 | 4,540,000 | 1.05 | 153,300 |
Total | 4,834,000 | 1.39 | 217,000 | 5,479,000 | 1.06 | 187,000 |
Notes:
The MRE has an effective date of
6 July 2020 .The Mineral Resources in the MRE are classified according to theCanadian Institute of Mining , Metallurgy and Petroleum (CIM) "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines", dated29 November 2019 , and CIM "Definition Standards for Mineral Resources and Mineral Reserves", dated10 May 2014 .Mineral Resources are reported within a pit shell and are reported to a base-case cut-off grade of 0.5 g/t gold.
The quantity and grade of Inferred Resources in the MRE are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Resource category.
Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
The MRE may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. Altus is not currently aware of any such issues.
All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures.
Tonnages are rounded to 1,000t and gold to 1,000oz in the totals as this is an estimate
Altus is the operator and 100% owner of the Diba licence
The 81km2Diba gold project (Korali Sud licence) and the 24km2Lakanfla gold project are located 5km apart in the Kayes region of western
Mineralisation at Diba is sediment-hosted within a series of stacked quartz lenses, typically between 20m and 40m thick. The lenses are shallow-dipping at approximately 30 degrees angled to the east/east-southeast. The Diba Deposit is considered to be controlled by a number of northwest and northeast orientated structures, with gold occurring as fine-grained disseminations in localised high-grade, calcite-quartz veinlets. Alteration at Diba is typically albite-hematite+/-pyrite, although pyrite content is generally very low (<1 %). The weathering profile at the Project is estimated to be up to 70m vertical depth, resulting in extensive oxidation from surface. The oxide gold mineralisation at the Diba Deposit is predominantly found in saprolite within 50m of surface and across a compact 700m x 700m area.
Lakanfla Licence: Geology & Mineralisation
The Lakanfla project hosts a significant number of active and historic artisanal gold workings coincident with major geochemical and gravity anomalies. These workings surround the Kantela granodiorite intrusion and cover an area of approximately 900m x 500m. Significantly, there is evidence of ground collapse at surface, indicative of karst style voids at depth within carbonate rock units. The gold mineralisation at Lakanfla is hosted within breccia zones which cut the granodiorite and surrounding carbonate metasediments. Historic drilling has returned encouraging intersections including 9.78 g/t Au over 12m and 5.20 g/t Au over 16m (not true widths) as well as having intersected voids and unconsolidated sand from 165-171m depth. The Company has not verified the historic drilling data at the Lakanfla project.
QAQC
All drilling samples are collected by the Company following industry best practices with an appropriate number and type of certified reference materials (standards), blanks and duplicates inserted to ensure an effective Quality Assurance Quality Control “QAQC” regime. RC samples are collected at 1m intervals with representative samples split at the site. Half core DD samples are collected at between 0.5m and 1.5m intervals based on lithological and mineralisation boundaries. Samples from the Project are sent for analysis at SGS SARL (
Qualified Person
The technical disclosure in this regulatory announcement has been approved by
For further information you are invited to visit the Company’s websitewww.altus-strategies.comor contact:
Tel:+44 (0) 1235 511 767 E-mail:info@altus-strategies.com | |
Tel:+44 (0) 20 3470 0470 | |
Tel:+44 (0) 20 3470 0471 Tel:+44 (0) 20 3470 0535 | |
Tel:+44 (0) 20 7186 9927 | |
Yellow Jersey PR (Financial PR & IR) | Tel:+44 (0) 20 3004 9512 E-mail:altus@yellowjerseypr.com |
About
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the expectations of the Directors or estimates of future performance constitute "forward-looking statements". 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 programmes on schedule and the success of exploration programmes. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this announcement and the forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.
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Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of
Glossary of Terms
“Au” means gold
“DD” means diamond drilling
“g” means grams
“g/t” means grams per tonne
“grade(s)” means the quantity of ore or metal in a specified quantity of rock
“km” means kilometres
“m” means metres
“MRE” means Mineral Resource Estimate
“NI 43-101” means National Instrument 43-101 “Standards of Disclosure for Mineral Projects” of the Canadian Securities Administrators
“oz” means ounces
“PEA” means Preliminary Economic Assessment
“QAQC” means Quality Assurance Quality Control
“Qualified Person” means a person that has the education, skills and professional credentials to qualify as a qualified person under NI 43-101
“RC” means reverse circulation drilling
“t” means a metric tonne
**END**
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