(Alliance News) - Altus Strategies PLC on Wednesday said it has discovered a new gold prospect at its Daro copper-gold-solver volcanogenic massive sulphide project in Ethiopia.
Rock samples from the prospect, named Wedi Keshi, include 14.1 grammes and 8.5 grammes of gold per tonne of ore, as well as 7.3 grammes of gold per tonne of ore, from quartz veins and wall-rock.
The prospect has been mapped for 2 kilometres along strike and a width of up to 300 metres.
The discovery of Wedi Keshi brings the number of gold and volcanogenic massive sulphide prospects defined at Daro to five.
In addition, reconnaissance ground activity at the Teklil prospect at Daro has confirmed volcanogenic massive sulphide potential. Altus is also undertaking simultanoues exploration projects at Daro and its new Zager licence, also in Ethiopia.
Altus Chief Executive Steven Poulton said the Wedi Keshi discovery is "coincident with a series of discontinuous hard gold workings and likely represents the primary source for the gold in the alluvial artisanal workings in the area".
Poulton said follow-up exploration at Wedi Keshi is to include channel and trench sampling with the aim of defining possible drill targets.
"Concurrent with the discovery of Wedi Keshi, a reconnaissance ground gravity survey has been completed along an initial 300 metre section of the 2.5 kilometre long Teklil [volcanogenic massive sulphide] prospect at Daro. The survey identified a potentially significant gravity anomaly adjacent to key VMS markers, including a gossanous outcrop sample which returned 7.0% copper, units with sulphide stockworks and jasperoid. Ground gravity surveys have proven instrumental in discovering a number of VMS deposits. These include Bisha, a [copper-gold-zinc] mine operated by Zijin Mining Group Co Ltd located 190 kilometres northwest of Daro," Poulton added.
Shares in Altus were untraded at 4.85 pence on Wednesday afternoon.