LONDON (Alliance News) - Altus Strategies PLC said Tuesday exploration activities at its Daro copper-gold project in northern Ethiopia have returned high copper and gold outcrop assay results.
The results include 11.6% copper and 4.4 grams per tonne of gold at the Teklil prospect. A total of 75 rock chip and float samples were collected as part of the programme.
Altus Strategies also said that the follow up of anomalous stream sediment results discovered the Keren prospect, which is located about 9 kilometres southeast of the Teklil prospect.
A sample of quartz float at Keren has assayed 37 grams per tonne gold, while "multiple rock chips" have returned values greater than 0.5 grams per tonne gold and up to 10.35 grammes per tonne gold.
Chief Executive Steven Poulton said: "Exploration at Daro is continuing to yield exciting results, with high gold and copper assays returning from a number of surface sampling programmes, including 37 grammes per tonne gold and 22.7% copper. The presence of gossans, polymetallic mineralisation, significant artisanal gold workings and favourable host geology continues to indicate the potential for a VMS discovery within Daro.
"We are also excited to continue developing the project further, with the discovery of the Keren prospect containing a gold-bearing quartz vein and stockwork system. Our next phase of work will include mapping and selective channel and soil sampling programmes. We look forward to updating shareholders on the results of this work in due course."
Shares in Altus Strategies were down 6.0% on Tuesday at 4.25 pence each.