(Alliance News) - Altus Strategies PLC on Thursday said an economic assessment has begun at its Diba gold project in Mali.
Altus said it has appointed consulting firm Mining Plus UK Ltd to "update the historic resource and complete a preliminary economic assessment" at the asset.
The assessment will incorporate recent drill results, Altus noted.
Chief Executive Steven Poulton said: "They will then undertake a preliminary economic assessment to outline the potential for a standalone open pit oxide gold mine. The Diba licence has substantial exploration upside with at least six additional prospective targets yet to be drill tested. However, the historic resource alone may already represent a very significant opportunity for Altus to create substantial near-term value."
Altus shares closed 10% lower at 30.00 pence each in London on Friday.
By Eric Cunha; ericcunha@alliancenews.com
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