Altus Strategies PLC - Didcot, Oxfordshire-based mineral project royalty generator - Starts 10,000 metre reverse circulation drilling programme at the Diba gold project in western Mali.
Programme will test resource expansion potential as well as five other priority prospects. Current preliminary economic assessment generates a posttax net present value of USD81 million at a gold price of USD1,500 per ounce.
"Approximately 10,000m of RC drilling is planned, with the programme designed to test the potential for additional resources along strike and down dip of the current mineral resource, as well as the potential of five priority targets, each located within 3 kilometres of the current resource. The results from this programme are expected to be available in the coming weeks and will be used to update the existing MRE and PEA studies. We look forward to updating shareholders on progress from this programme in due course," said Chief Executive Steven Poulton.
Current stock price: 62.50 pence
Year-to-date change: up 100%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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