Tabakorole is situated in south-western Mali, 280km from Bamako and 17km south of the village of Garalo. Altus has agreed a JV with ASX-listed Marvel Gold at Tabakorole. The JV comprises three contiguous gold exploration licences; namely the Tabakorole licence (100km2), the Npanyala licence (100km2) and the Sirakoroble Sud licence (92km2).
Tabakorole hosts a JORC-compliant gold resource of 1,025,000 ounces, comprising 360,000 ounces at 1.2g/t in the 'Indicated' category and 665,000 ounces at 1.2g/t Au in the 'Inferred' category from the oxide and fresh zones.
A number of targets have been defined for follow up exploration with potential for resource expansion, notably recent drilling has confirmed that gold mineralisation continues at least 600m to the north-west along strike of the FT Prospect, which remains open along strike and at depth. There are also areas throughout the existing resource that are constrained due to a lack of drilling data as well as a new lode discovered and included in the current mineral resource estimate. This new lode has been modelled to a length of ~120 m and to a maximum depth of 120 m and remains open at depth and along strike.
Additional targets include the 2.5km long FT South target, a geophysical anomaly sub-parallel to the FT prospect historic resource, as well as the FT East target, defined by a 2.6km long gold in soil anomaly. Drilling undertaken after the historic resource in 2010, 2011 and 2014 returned results including 18m@ 6.05g/t Au and 24 m at 2.53 g/t Au.
Tabakarole is located on a shear zone which is up to 200m wide and part of the Massagui Belt, which also hosts the 6.0Moz Morila gold mine.