(Alliance News) - Altus Strategies PLC on Thursday said it has commenced a survey at the Tabakorole gold project located in southern Mali to define targets for a follow-up drill testing.
The Africa-focused project and royalty generator has commenced a ground magnetic survey at the Tabakorole project under Altus's joint venture agreement with Glomin Services Ltd.
Altus Chief Executive Steven Poulton said: "Our field teams have commenced a ground magnetic programme which targets potential structural extensions to the historical resource, in an area where previous soil sampling returned encouraging results.
"Results from this survey will be analysed alongside those of the ongoing aircore drilling and the historical data, in order to guide the next phases of drilling under the JV. The aircore programme is progressing well, with over 1,100 metres completed to date of the planned 2,000 metres."
The Tabakorole project sits on the Massagui Belt which hosts the Morila gold mine operated by Barrick Gold Corp. Historical mineral resource of the project comprises of 240,000 ounces of gold in the Indicated category and 350,000 ounces in the Inferred category.
Shares in Altus were up 7.2% at 8.44 pence each in London on Thursday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
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