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Projects & Royalties

Tabakorole (Royalty)

Project: Tabakorole (Royalty)
Commodity: Gold
Royalty: 2.5 % NSR
Subsidiary: LGN Holdings (BVI) Inc.
Location: Southern Mali
Deposit Style: Shear-hosted gold within Birimian greenstones
Key Attributes: Within the same belt as the 7.0 Moz Morila Au mine
Asset Stage: Infill drilling pre-DFS
Results: Total Resource of 26.5Mt at 1.02g/t for 1.0Moz gold
Next Phase of Work: Mineral resource update
Deal Partner: Marvel Gold Limited (ASX:MVL)
Deal Terms: Marvel’s 70% stake can increase to 75% by spending US$5m by 17 December 2023, and to 80% by completing a DFS

Project Overview

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.

  • Prospecting
  • TBK - Cross Section A
    TBK - Cross Section A
  • TBK - Cross Section B
    TBK - Cross Section B

Royalty Overview

Altus owns a 2.5% NSR royalty on the JV Licences. Marvel has the right to reduce the royalty to a 1.0% NSR royalty for a payment to Altus of between US$9.99 million and US$15.00 million (depending on the size of the resource on the JV Licences).

  • Project camp
    Project camp
  • Core logging
    Core logging
  • Zone of visible gold
    Zone of visible gold

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