LONDON (Alliance News) - Altus Strategic PLC has found another "significant" gold prospect at the Diba project in the west of Mali.
The prospect, found via surface geochemistry, is 650 metres by 400 metres, and the results suggest there are multiple further target areas to be explored.
Historical drill results in the area include a grade of 5.0 grammes of gold per tonne of ore over 20 metres and 5.4 grammes over 13 metres.
Chief Executive Steven Poulton said: "Our detailed review of Diba's historical data as reported on February 4 identified multiple priority drill targets including a 1.85-kilometre long anomalous zone adjacent to the historic Diba resource.
"In addition, a number of gaps were identified in the coverage of the surface geochemistry. Our systematic programme of sampling in some of these areas has discovered a significant new prospect at Diba, with a footprint of approximately 650 metres by 400 metres."
"The results also highlight the potential for further discoveries to be made at Diba. In addition, a 1.2-kilometre long potentially silicified ridge, located approximately 500 metres southwest of and directly along strike of the historical resource will also be followed up," he added.
Shares were untraded on Wednesday morning, last quoted at 4 pence each.