Embracing the cyclical nature of the mining sector
Altau Resources Ltd
Volcanogenic massive sulphide, orogenic gold
Active artisanal gold mining
Next Phase of Work:
Mapping, rock chip & channel sampling
Joint Venture Partner:
Available for JV
The 412.5km2 Daro licence is situated in the Tigray Regional State of northern Ethiopia, 95 km west of the Company’s Tigray-Afar Cu-Ag project, 100km northwest of the Tigray state capital of Mekele and 570 km north of Ethiopia’s capital, Addis Ababa. Mekele has a regional airport and year-round access to the licence area is provided by a network of maintained surfaced and graded roads.
The licence targets potential Kuroko-style Volcanogenic Massive Sulphide (“VMS”) copper and gold deposits and is situated within the Neo-Proterozoic Nakfa Terrane, at a junction between two major tectonic blocks and comprises a series of metasedimentary and metavolcanic rocks, affected by thrusting and intrusion of the Rama granite. A band of mafic to ultramafic rocks bisects the Daro licence from southwest to northeast, interpreted to be an ophiolite complex of oceanic crust and ancient seafloor. Historical data compilation of Daro, undertaken by the French governmental Bureau de Recherches Géologiques et Minières, has defined a number of marker lithologies and structures that are considered prospective for Kuroko-style VMS deposits. These include the presence of bimodal volcanics and associated sediments, mafic and ultramafic lithologies which conform to an ophiolitic sequence, as well as the presence of extensive chert horizons. The Nakfa Terrane hosts a number of significant VMS base metal and gold deposits and mines. This includes Bisha, a polymetallic mine operated by Nevsun Resources Ltd (TSX: NSU) 190km north west of Daro, the Harvest and Adyabo projects, being advanced by East Africa Metals Inc. (TSX-V:EAM) 35km west of Daro and the Asmara project being advanced by Sichuan Road & Bridge Mining Investment Corp Ltd 100km north of Daro.
Daro was selected by the Company following an extensive process of regional target definition. This work included a review of historic mineral occurrences, geological maps and structural data as well as satellite-borne remote sensing data. The licence contains a significant northeast-southwest striking ophiolite complex and hosts a number of shear zones and thrust belts. The presence of the ophiolitic units, extensive chert zones and bimodal volcanics are considered synonymous with other VMS projects in the region. Daro also contains a historic mapped copper occurrence and an active artisanal gold mining site.
A first phase reconnaissance programme by the Company’s technical team will include mapping of the priority remote sensing targets. This is expected to be followed up with a licence wide stream sediment survey programme to define additional target areas, as well as mapping and sampling of the reported mineral occurrences.