Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector: Mining
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Altus Strategies Plc
("Altus" or the "Company")
Altus Strategies Plc (AIM: ALS & TSXV: ALTS), the Africa focused exploration project generator, announces that it has commenced exploration at its 100% owned 369.5 km2 Prikro gold project (''Prikro'' or the ''Licence'') located in eastern Côte d'Ivoire.
- Prikro gold project is located in an emerging gold province in Côte d’Ivoire
- Multiple historical gold occurrences are reported within and proximal to Prikro
- The Licence hosts prospective Birimian age meta-sedimentary greenstone belts
- Exploration will initially prioritise a number of key structural targets
Steven Poulton, Chief Executive of Altus, commented
“Prikro is an exciting gold project located in an emerging gold province in eastern Côte d'Ivoire. The licence targets Birimian age metasedimentary belts that are renowned for their prospectivity to host economic gold deposits in Côte d'Ivoire and elsewhere across West Africa. The Prikro licence hosts a number of large scale mapped targets, including a 10km long fold hinge with axial planer structures and an associated intrusive.
''Our first phase reconnaissance programme will initially focus on areas of historically reported gold occurrences and the strike extension of structures which are the focus of small scale mining permits that are contiguous with Prikro. We are delighted to be active in Côte d'Ivoire and look forward to updating shareholders on the results from this exploration programme in due course.''
The following figures have been prepared and relate to the disclosures in this announcement and are visible in the version of this announcement on the Company's website (www.altus-strategies.com) or in PDF format by following the link below: http://altus-strategies.com/site/assets/files/4413/prikro.pdf
1. A map of the Prikro licence is shown in Figure 1.
Figure 1. Prikro licence map.
Prikro Project: Exploration Programme
The Company has defined a number of targets across the Prikro licence which will be the focus of initial exploration. These areas have been defined from the assessment of historic data, including geological mapping, as well as remote sensing and reconnaissance work completed by the Company. Key structural targets and lithological boundaries that are considered prospective for hosting gold deposits will be explored. The phase-one programme will include mapping, rock chip and grab sampling in parallel with stream sediment sampling of the main drainages across the Licence.
Prikro Project: Location
The Prikro project comprises a single exploration licence in the Prikro and Koun-Fao Departments in eastern Côte d’Ivoire, approximately 240km northeast of the capital of Abidjan. The Licence is located 40km north-west of the town of Agnibilekrou and 25km west of the town of Koun-Fao, both of which can be accessed by asphalt roads from Abidjan. From Agnibilekrou and Koun-Fao, the licence area is accessible all year round via a series of secondary tracks. Travel time from Abidjan to the project area is approximately five hours.
Prikro Project: Geological setting
Birimian-age greenstone rocks reportedly crop out extensively across the Prikro licence area and represent Paleoproterozoic meta-sedimentary units, with associated granite to diorite intrusives, which are the dominant host setting for gold deposits across West Africa. Birimian mesothermal and hypothermal gold deposits and associated zones of alteration and quartz ± carbonate veining are known to localise along faults and shear zones which cut through greenstone sequences.
Prikro is located within a large meta-sedimentary package which has been intruded by granite and diorite bodies along the axis and in the nose of a regional-scale fold structure. Within the Licence area, northeast to southwest trending brittle shear zones have been mapped historically, between granite and diorite intrusions. Small-scale artisanal mining licences that are contiguous with Prikro are thought to target these structures. The Company considers that the difference in lithological competencies between the granitoids and the meta-sedimentary units may be favourable for the formation of mesothermal gold deposits, with prolonged phases of deformation leading to the inception of brittle ductile structures through which mineralising fluids can percolate and precipitate gold.
The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 18 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 under the rules of the TSX.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information you are invited to visit the Company's website www.altus-strategies.com or contact:
Altus Strategies Plc
Steven Poulton, Chief Executive
Tel: +44 (0) 1235 511 767
SP Angel (Nominated Adviser)
Richard Morrison / Soltan Tagiev
Tel: +44 (0) 20 3470 0470
SP Angel (Broker)
Tel: +44 (0) 20 3470 0471
Blytheweigh (Financial PR)
Tim Blythe / Camilla Horsfall / Nick Elwes
Tel: +44 (0) 20 7138 3204
About Altus Strategies Plc
Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects, diversified by commodity and by country. Altus currently has seventeen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.
Glossary of Terms
The following is a glossary of technical terms:
“Au” means gold
“Birimian” means rocks formed between 2.1 and 2.2 billion years ago
"Cu" means copper
“km” means kilometre
"m" means metres
"Ma" means million years ago
“Outcrop” means a visible exposure of rock that is in-situ
“Shear zone” means a zone in which rocks have been deformed by lateral movement
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.