Altus Strategies unveils further encouraging results at Diba Project
(ALS ) has announced more encouraging results from its recently completed 10,308m Reverse Circulation ("RC") drilling programme at its Diba gold project in Mali.
Diba, which is wholly owned by Altus, is located in the Kayes region of western Mali and hosts a shallow-dipping, near-surface gold deposit as well as several other prospect areas.
As part of the programme, a total of 4,932m was drilled (over 57 holes) in and around Diba (Fig.1) testing potential up dip, down dip and along strike extensions, as well as infilling areas within the Mineral Resource Estimate envelope to increase the resource confidence.
Figure 1: Location of the Diba project in western Mali (Source: Altus Strategies)
The results received to date confirm the discovery of a new zone of mineralisation, which it said may potentially extend the Diba Deposit by around 100m to the west. The further results provide furtherl confirmation of the high-grade and near surface mineralisation
The mining royalty company said today’s results included 43.83 g/t of gold over 5m from surface, from a drill hole designed to test a modelled northeast trending high-grade zone.
Shares in Altus Strategies have almost doubled in value since the beginning of November 2020 to open 7.23% higher this morning at 89p following the announcement.
“We are also encouraged by intercepts outside the current MRE envelope, including 11.03 g/t Au over 3m from 37m, which may potentially extend the mineralised zone by approximately 100m to the west,” commented Steven Poulton, Chief Executive of Altus.
The company told investors that results are currently pending from 33 holes that have been drilled at a number of prospects outside of the current Mineral Resource Estimate (“MRE”).
It said the technical team is reviewing the data received to date and planning a ground magnetic survey which will start shortly and be used to guide the next phase of drilling.
The Company said it intends to incorporate the results from the current drill programme when all have been received and compiled into an updated MRE for the Diba Deposit.
Diba currently hosts 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.
Figure 2: Plan of drill holes with assay results returned from Diba MRE
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