Altus Strategies PLC - Africa-focused mining royalty company - Identifies numerous high priority gold targets from remote sensing across all four of its projects covering 1,565 square kilometres in the Eastern Desert of Egypt. The projects were recently awarded to the company's subsidiary Akh Gold Ltd as part of a competitive international bid round undertaken by the Egyptian Mineral Resource Authority.
"The remote sensing programme was undertaken by the Altus team and has defined over 100 interpreted historical hard rock gold workings, including at least two major historical mining camps. One of these camps is at Bakriyah, where historical reports indicate that mining activities extended discontinuously across a significant area. Some of the interpreted hard rock gold workings are clearly visible in the satellite imagery, as arrays of pits and trenches, which can be up to 375m long," says Chief Executive Officer Steven Poulton. ''We are currently establishing our technical team in Egypt and plan to commence fieldwork shortly to follow up on these priority targets. I look forward to updating shareholders on these programmes in due course."
Current stock price: 80.0 pence
Year-to-date change: up 3.2%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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