Altus Strategies Announces Further Significant Intercepts from Diba & Lakanfla Gold Project in Western Mali

17 March 2022 – TheNewswire – Altus Strategies Plc (AIM:ALS), (TSXV:ALTS), (OTC:ALTUF) announces further significant gold intersections from reverse circulation (“RC”) drilling at the Company’s 100% owned, 105 square kilometre (“km2”) Diba & Lakanfla gold project (“Diba & Lakanfla” or the “Project”) in western Mali. The Lakanfla licence is located approximately 5 kilometres (“km”) east of the Company’s Diba licence. Both licences host numerous gold prospects, including a shallow-dipping, near-surface gold deposit (the “Diba Deposit”).

Highlights:

• RC drilling completed at 100% owned Diba Lakanfla in western Mali 

• Latest intersections from the Lakanfla Central prospect include (not true widths): 

  • 0.90 grams per tonne (g/t”) Au over 66 metres (“”) from 41m 

  • 1.32 g/t Au over 26m from 85m 

  • 2.21 g/t Au over 12m from 137m 

  • 4.37 g/t Au over 6m from 32m 

• Latest intersections from the Diba NW prospect include (not true widths): 

  
  

• Programme designed to generate an updated Project Mineral Resource Estimate (MRE”) 

• MRE to be integrated into an updated Preliminary Economic Assessment (PEA”) 

• trategically located in a world-famous gold belt that hosts numerous open-pit mines 

Steven Poulton, Chief Executive of Altus, commented:

“We are pleased to report on the further encouraging drilling intersections from the Diba & Lakanfla gold project in western Mali. RC results include 1.32 g/t Au over 26m from 85m and 0.90 g/t Au over 66m from 41m (not true widths) from the Lakanfla Central prospect. These results extend the mineralised strike of Lakanfla Central by approximately 200m to approximately 750m, with mineralisation remaining open to the northeast and at depth. The latest results confirm the presence of a broad gold mineralised package at Lakanfla Central, from which we recently reported an intersection of 1.23 g/t Au over 127m from 21m (not true width).

“Lakanfla Central is hosted within a large porphyritic granite and is one of at least four priority prospects at Lakanfla, where gold mineralisation is often associated with sub-vertical and brecciated structures. Lakanfla hosts a number of zones of intense hard rock artisanal gold workings. Historical results from drilling at the Lakanfla licence include 5.10 g/t Au over 26m, 4.31 g/t over 18m and 1.02 g/t Au over 60m (not true widths).

“Lakanfla is located approximately 5km east of the Diba licence, which hosts the Diba Deposit and the Diba NW prospects. The results from the now completed drilling programme at Diba & Lakanfla will feed into an updated independent MRE and PEA for the Project. We look forward to updating shareholders on the results of these studies in due course.”

Diba & Lakanfla Project: Drilling Programme

The 11,832m drilling programme at the Project has been completed by Capital Drilling Limited and comprised 1,359m of diamond drilling (“DD”), 1,433m of air core (“AC”) and 9,040m of RC drilling.

The most recent and final phase of drilling at Lakanfla comprised 3,848m of RC, testing a number of targets which could potentially contribute to a maiden MRE including:

Lakanfla Central Prospect

• Twenty holes for a total of 3,283m were drilled 

• The prospect comprises a series of mineralised breccias within an altered granodiorite host with surrounding carbonate metasediments 

• Drilling targeted the prospect at depth and tested potential on strike extensions 

Zone 3 Prospect

• Three holes for a total of 390m were drilled 

• The prospect hosts mineralised breccia at surface and artisanal workings 

• Drilling tested the strike potential of the prospect 

Zone 4 Prospect

• Two holes for a total of 175m were drilled in addition to a programme of trenching  

• The prospect hosts a number of high-grade gold in soil anomalies 

• Drilling was undertaken to test strike potential 

Diba & Lakanfla Project: Drilling Results

All assay results have now been received from the current programme at Diba & Lakanfla (see Table 1). The holes were drilled at between -50 to -70 degrees inclination and range between approximately 75m to 315m in length. The drilling was orientated perpendicular to the interpreted structural orientation at Diba & Lakanfla.

Table 1: Drill intersections from recent programme at Diba & Lakanfla