Altus defines Malian gold prospect as exploration pans out successfully

Exploration project generation company Altus Strategies announced on Tuesday that it has defined a new 2.3km long gold prospect in western Mali.

The Soa prospect, which lies on Altus’ wholly owned Sebessounkoto Sud Licence, has numerous hard rock workings of up to 150m in length and shafts of 40m depth and historic sample results from the site show 0.68 g/t Au.

Sampling of mining waste from the site returned grades of 5.18g/t, 3.98g/t and 2.4g/t Au.

Steven Poulton, chief executive of Altus Strategies, said: "Results from the first phase of prospecting at Soa has defined a 2.3km long NE trending target within the Sebessounkoto Sud Licence in western Mali. The prospect is located approximately 22km from AngloGold Ashanti and IamGold's Sadiola gold mine."

The exploration project included comprehensive mapping, prospecting, spoil and termite mound sampling and the investigation of recently opened artisanal workings, completed alongside a review of historical databases concerning the area.

"The newly defined prospect is one of four prospects defined to date in our western Mali licence cluster. We look forward to updating shareholders on further results from our first phase of exploration in Mali in due course," said Poulton.

Altus will use pitting and trenching to better define the prospect in the next phase of exploration, along with mapping and sampling to better understand the occurring mineralisation.

As of 0919 GMT, Altus Strategies’ shares were unchanged at 7.87p.