(Alliance News) - Altus Strategies PLC on Wednesday announced "excellent" results from its metallurgical testwork on samples from its 100% owned Diba gold project in western Mali.
Altus is a mining royalty company focused on generating a diversified portfolio of precious metal assets.
Altus saw a 96% gold recovery at a coarse crush size on oxide samples for heap leach processing as well as 88% gold recovery at moderate grind size of sulphide samples for carbon-in-leach processing.
Following the discoveries, the company expects a significant upgrade to its existing preliminary economic assessment.
Altus said that the current mineral resource estimate remains open along strike and down dip with seven further prospects within 7 kilometres of the mineral resource estimate to be drill tested.
A resource expansion and target definition drill programme is now being planned, the company said.
Chief Executive Steven Poulton said: "Aside from the existing resource area, Altus has defined seven priority prospects at Diba, none of which have ever been systematically drill tested. These prospects are all located within seven kilometers of the current mineral resource, which itself is only 13km from the multi-million ounce Sadiola gold mine. Altus is currently planning a drill programme for Diba and we look forward to providing an update on this in due course."
Altus shares were up 17% at 62.75 pence each in London on Wednesday midday.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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