Altus Strategies (ALS ) said it has received ‘encouraging, high-grade results’ from reverse circulation ("RC") drilling at its 100% owned Diba gold project located in western Mali.
The drilling programme at Diba includes up to 7,500m of Air Core ("AC") and 12,500m of RC drilling and to date, 2,989m of AC and 1,803m of RC drilling have been completed by Altus.
This comprises 7,000m (46 RC holes) in and around the Diba Deposit, testing potential down-dip and on-strike extensions and infilling areas to increase the resource confidence.
The Company explained to investors that approximately 5,500m (36 RC holes) is planned, to define and extend mineralisation at the Diba NW prospect. The drilling programme will also test the potential to link the mineralised zone at Diba NW to the current Diba Deposit.
Today, the precious metal-focused mining royalty firm has discovered high-grade gold intersections at Diba; this discovery includes 8.50 g/t Au over 24m from 20m, 2.54 g/t Au over 30m from 36m 1.30 g/t Au over 30m from 12m and 2.45 g/t Au over 15m from 26m.
Shares in Altus Strategies were trading 3.57% higher today at 58.5p following the news.
Steven Poulton, Chief Executive of Altus, commented: "We are delighted to report on these excellent initial results from the current RC drilling programme at the Diba gold project in Western Mali. An intersection of 8.50 g/t Au over 24m from 20m downhole is exceptional.”
Poulton explained that the ongoing RC programme is designed to expand and infill the existing Diba resource, as well as define a maiden resource at the Diba NW prospect.
He said infill drilling in the current deposit has improved Altus’ understanding of the high-grade mineralisation that strikes northeast for around 550m through the Diba Deposit.
Altus said that previous results received from the Diba NW prospect indicate the discovery of two northwest trending, shallow-dipping and consistent zones of mineralisation totalling around 900m in strike length, with intersections including 1.45 g/t Au over 22m from 55m.
Poulton said: “The programme is testing on-strike and down-dip extensions to the mineralisation, prior to the completion of a maiden resource estimate for Diba NW.” Altus said drilling at Diba NW will resume in September, following the end of the rainy season.
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